The global horse market is worth about $400B

The complicated economics of horse racing

The Triple Crown commands big ratings (and enormous amounts of money in betting) but the sport as a whole is in a precarious position, thanks to limited tracks and an overreliance on subsidies. This special from Freakonomics unpacks what all that means for the future of the sport.

The economics of horse racing

The Triple Crown races last less than three minutes, but the training and resources needed to create a winning thoroughbred are extensive. This Fox Business article dives into the costs associated with owning and training a racehorse, which can range from $1K to over $1M. It also discusses the extent to which the horse racing industry contributes to the economy.

The economics of horseshoe crab blood

Horseshoe crabs are older than dinosaurs and have survived five mass extinctions that wiped most life from the planet. But it's only now that their future as a species is in danger. This blood, worth about $60,000 per gallon, is hyper-sensitized to certain bacteria that are fatal to humans. This 17-minute podcast dives into humanity's pursuit of horseshoe crab blood, a "somewhat magical" mixture heavily relied on by the pharmaceutical industry.

Bubbles can exist in markets for collectibles, not just industries and technology

This podcast tells how "Magic: The Gathering" faced its own speculative bubble as rare cards surged in resale value—risking a Beanie Baby-style crash. It follows how the game’s creators tried to engineer a system to keep a collectibles market from collapsing.

The global creator economy is worth roughly $250B

That number is derived from multiple sources (such as brand deals and affiliate links), and the projections for how much the creator economy will be worth in the future are even more complicated.

Listen to a podcast episode about the time a 'Bored Ape' NFT—a valuable, unique digital asset stored on a blockchain—was kidnapped.

Horses aren't eaten in the US, though they're delicacies in other places, including Japan and Slovenia.

Data suggests the typical horse produces over 12 horsepower—a unit of measurement for the rate of work done that was conceived as a marketing tool to communicate steam engine performance.

Americans spent nearly $150B in sports-related bets in 2024

These bets ranged from who would win the World Series to what color clothes famous celebrities would wear to the Super Bowl. Experts believe the industry will continue to grow.

The plasma-selling industry is expected to reach $50B by the end of the decade

About 55% of your blood volume is plasma, the liquid part of blood created from water, proteins, minerals, and salts absorbed through the digestive tract. This 49-minute podcast episode explores the business of plasma—part of a global industry expected to be worth $50B by 2029.

Why is cocaine worth so much?

The global cocaine trade is worth an estimated $100B a year. But, where does that money go, who is spending it, and who is making it? Vice follows the money to understand why the cocaine business functions the way it does. From illicitly growing...

The global xenotransplantation market may already be valued at more than $13B.

It's tough to measure just how much the global commodities market is worth

That's partly because of all the different ways and places commodities are traded—such as futures exchanges, spot markets, and over-the-counter deals. Additionally, the same commodity can be traded multiple times in different markets, making it easy to risk duplicating trade values in calculations.

Breaking down the jargon and strategy of horse betting

Placing bets on horse racing isn't the same as a football or basketball game. You can pick a winner (win), who will come in second (place), and even third (show). And all the bets placed on a race are pooled together and divided among the winners. This Top Ten Picks video teaches the mechanics behind each bet, and shares insider tips that can lead to more informed betting choices.

Ranking the world's highest paid athletes in 2022

The top 100 highest-paid athletes in the world include players from 10 sports and 24 countries. They earned $4.46 billion in total income, including $3.24 billion in salary and prize money, as well…

A 'unicorn' is a private company with a $1B-plus valuation

Just like a horse with a spiraling horn on its head, private companies with a more than $1B valuation are rare creatures. But unlike the mythical creature, this type of “unicorn” is occasionally spotted in the wild. Unicorn companies include SpaceX, OpenAI, Skims, and more.

The NFL is the most valuable sports league in the world.

The stablecoin market increased tenfold from 2020 to 2025

Specifically, the stablecoin market grew from about $28B in 2020 to $282B in 2025. Some experts forecast that it could grow anywhere from 6.7x to 14.2x by 2030.

Experts suggest the industry could be a $45B business

Sports betting used to primarily consist of who would win and the points spread, but the rise of online betting apps has fueled a substantial increase in parlay bets. "Existing markets are still growing at a rapid clip," said Noah Naparst, who evaluates sports-betting companies for Goldman Sachs. "So we’re not mature yet, but we’re not in the early wildcat days of the market anymore, either.”

The wedding industry is a roughly $200B global market

That market is shaped by both tradition and commercial influence. In the US, couples spend an average of $35K on a wedding, while Indian weddings range from $5K to more than $100K. Despite rising costs, weddings remain a deeply emotional tradition, celebrating love and human connection.

Explore the "winners and losers" of the Trump administration's H-1B visa fee

In this episode, experts discuss the rationale behind the new $100K fee, citing concerns about abuse of the H-1B program. Some economists warn that it could spur offshoring, reduce innovation, and create ripple effects on wages and talent supply.

Fantasy football is now a $10B industry

Curious about how fantasy football grew into a global empire? This video breaks down how a losing Oakland Raiders team led to the first form of fantasy football, long before the internet and smartphones made it a worldwide phenomenon.

Horses have four licensed West Nile vaccines—but humans have none

A major hurdle for West Nile vaccine development is the lack of a market for it since so many people are symptomatic for the infections. Still, a growing number of infections, including a 40% spike in 2025, may change that calculation.

Ranking valuations of NBA teams

NBA teams were worth a total of $138B in 2024, with the Golden State Warriors the highest-valued at over $9B, according to research and analysis conducted by sports business outlet Sportico. Dive into the data with this write-up and visualization.

Prediction markets and sports betting are not forms of investing, despite how some fans portray them.

Bitcoin started as a .PDF

Have you ever wondered how bitcoin became, well, bitcoin? In this podcast episode, journalist PJ Vogt dives into what drove the bitcoin hype machine, explaining how it became the phenomenon it is today.

Visualizing the world's wealth in 2019

The world has a net worth of $360T. The U.S. economy continues to dominate given its sheer size, Asia and Europe are not that far behind.

The evolving industry of flowers

The global trade of flowers is worth billions of dollars, and new markets and supply chains are opening each year. This multimedia deep dive takes a look at the origins of the modern flower trade in the Netherlands and its expansion into dozens of...

Early 20th-century debates about horses with 'paranormal mathematical abilities' helped shape modern approaches to psychological research.

The world's 50 most valuable private companies

While public companies typically have the highest valuations, private companies get close. This list breaks down the top 50 as of 2025, with SpaceX at the top with a value of $350B, followed by ByteDance. Over three-fifths of the list are located in the US, with eight in China.

The controversial 'Peloton Wife' ad from 2019 cost the company more than $1B in market value

The 2019 ad of a man gifting his wife a Peloton exercise bike sparked a wave of controversy, with some calling the ad sexist and fatphobic. The ad's backlash decreased the company's market value by $1.6B.

See a ranking of the world's most valuable brands

Evaluating a brand's value involves evaluating investments in marketing, the strength of the brand, and even the company's performance. Technology companies represent most of the global economy's brand value. As of 2026, Apple has the most valuable brand in the world at $608B.

Check the real-time price of bitcoin

Bitcoin has gone through several boom and bust cycles. Those peaks and valleys sit on top of a steadily rising value, growing as the currency gains wider adoption. As of 2024, bitcoin’s total market value was over $1.3T, with more than 19.6 million coins in circulation. Still, the value fluctuates.

Sushi is an estimated $33B business in the US

US fishermen stock most of the country's more than 17,000 sushi restaurants. Distributors frequently adjust prices for different fish, based on their availability and the quality of the meat. This podcast unpacks how that industry operates.

The ‘Harry Potter’ franchise is valued at more than $32B

Combining book sales, films, theme parks, and merchandise, Harry Potter ranks among the world’s highest-grossing media franchises—estimated at more than $32B in total value, alongside giants like Star Wars and Marvel.

Estimates say the creator economy market size will reach $500B by 2026

The creator economy, a system powered by people creating online content for monetizable audiences, has democratized fame and influence. Much of influencers' recent power comes from Gen Z's preference for authenticity over the polished approach of legacy media.

How much power does the Federal Reserve really have?

Although mechanisms for transparency exist, it wouldn’t be difficult for the incredibly powerful institution to go rogue in the wrong hands. In this podcast episode, analysts game out how such a scenario would go.

What exactly is college for?

The rising cost of college has many of us wondering, what exactly is a college education for, anyways? This "Freakonomics" podcast episode breaks down how colleges operate like large businesses and try to differentiate their products from one another to win market share. To find out what the overwhelming higher education system is doing wrong (and what it gets right), listen here.

Some venture capitalists believe cryptocurrency will revolutionize global finance

Some of the brightest minds at Andreesen-Horowitz, one of the country’s leading venture capital firms, believe the cryptocurrency ecosystem will revolutionize global finance in the coming decades. This podcast recounts, through their view, the history of crypto, how it works, and trends they see emerging in the future.

The surprising economics of sushi

How exactly does a patron of a sushi restaurant in Omaha, Nebraska, get to eat fresh fish caught off the coast of Japan? This episode of the Freakonomics podcast answers this question and explains the impressive feat. Listen to learn about the tricky economics and time-sensitive process behind importing fresh catches to sushi-lovers across America.

The world's largest stablecoins by market cap

The largest stablecoin by market cap, Tether (USDT), as well as the second largest, USDC, are both pegged to the US dollar. As of April 2026, Tether had a roughly $184B market cap.

The memecoin casino

This podcast episode dives into the origin story of memecoins like Dogecoin and how people make money off of them in the crypto world.

Raising the price of a Peloton bike increased the company's early sales—and that's part of why the bikes are so expensive

The original Peloton stationary bikes sold for about $1.2K, but Peloton founder John Foley said that price point made consumers skeptical of the product's quality. After increasing the price of a bike to $2K, Foley said people started to believe it was a quality product, and sales soon increased.

Why does the stock market matter?

Open any newspaper, turn on your local TV news station, or listen to a daily business radio segment, and you’re bound to hear about how the stock market is performing. Netflix created a 17-minute (free) explainer that dives deep into the nitty-gritty of how we got here.

The Chinese market for donkey hides has created a new source of diseases

Since 1992, China’s donkey population has dropped more than 80 percent. This report examines how China’s booming demand for a traditional medicine known as e-jiao, made from collagen from donkey hides, is leading to the slaughter of 6 million African donkeys annually, and providing a new source for zoonotic diseases.

The role stories play in mass economic trends like bitcoin, crashes

Economics is dominated by numbers, but stories play a huge role in the emotional shifts seen within macroeconomic trends. For example, bitcoin is not just a cost-benefit winner, but a compelling tale of decentralization and independence. This is a 20-minute summary of Nobel prize-winning economist Robert Shiller's "Narrative Economics."

In 2024, Americans bought over $7B of cut flowers

That's more than any other country in the world. Most of the flowers Americans purchase are imported, creating an economy that's both booming and reliant on dwindling natural resources.

The economics of romance novels

Romance is the publishing industry's most popular genre, with over 44 million units sold in 2025 alone. This episode of "The Economics of Everyday Things" podcast explores how the once-maligned form became the most reliable kind of book in the industry.

BBC Radio 4 tackles the history of Stonehenge

On this podcast, host Greg Jenner humorously unpacks Stonehenge’s biggest myths and mysteries—from what a “henge” actually is, to how alien theories emerged, and why the monument was once sold for just £6,000.

A podcast detailing the drug markets of East and Southern Africa

The African continent plays a critical role in the global illicit drug market. Often forgotten when discussing drug trafficking, organized criminal networks in Africa have established relationships with other criminal organizations around the world....