The summer intern hunched over their phone, surreptitiously typing away, might be doing one of two things: betting on a prediction market or managing an AI chatbot.

Morgan Stanley’s equity research team asked the firm’s summer interns about both their AI use and, for the first time, betting habits as part of its annual survey. More than 500 North American interns, most of whom are 21 or younger, participated in this year’s survey, which was conducted in June and published in August.

More than a quarter of the interns said they’d used a betting or prediction market app in the past year, with Kalshi and Polymarket as the top two choices. Around…

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