"Fans planning to watch the 83rd Golden Globe Awards are plowing money into prediction markets, hoping for a windfall if they correctly choose a winner. Millions have so far been bet on Golden Globe winners on Polymarket, one of the leading prediction market platforms. This year, Polymarket partnered with the Golden Globes, which airs on CBS and Paramount+ on Sunday at 8 p.m. ET."
"Prediction markets, such as Polymarket and Kalshi, allow users to buy and sell shares on the outcomes of future events, including sports games or presidential elections, potentially resulting in a payday. Polymarket also provides real-time updates, meaning the data can provide insights into how consumers and investors think. The relatively new markets are not strictly regulated, leaving room for those with insider knowledge to game the system."
Polymarket partnered with the Golden Globes and enabled live, market-driven betting on dozens of awards categories, including Best Motion Picture and Best Director. Users buy and sell shares on event outcomes, and Polymarket supplies real-time updates that can reveal consumer and investor sentiment. Millions of dollars have been wagered across multiple categories ahead of the 83rd Golden Globe Awards broadcast. The prediction-market model faces limited regulation, which creates risks of insider influence. A recent surprise U.S. raid and subsequent proposal to ban government officials from trading highlighted regulatory and ethical concerns around these markets.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]