The new betting craze — prediction markets — generated plenty of wagers in connection with the Super Bowl. And one proposition regarding who would attend the game sparked massive action.
Via David Purdum, more than $24 million was wagered on Kalshi regarding the question of whether Mark Wahlberg would attend the game. The number exceeded the amount bet on 31 other celebrities and politicians combined. It was five times greater than the amount wagered on the second-highest potential attendee: Donald Trump. (Please, don't tell him he finished second.)
As Purdum explains it, the flood of bets happened when a rumor circulated among college sororities and fraternities before spreading on social media.
By Monday night, Kalshi had not yet resolved the question of whether Wahlberg showed up for the game.
If it wasn't already obvious that the whole prediction-markets industry is nuts, it now should be. Folks with inside information are able to prey upon the clueless, with enhanced value coming from successful efforts to start false rumors.
And anyone who knew the truth as to whether Wahlberg would or wouldn't attend was in position to make plenty of easy money.