Cardi B’s Super Bowl cameo sparks formal complaint to US regulator
How one small Super Bowl halftime cameo sparked betting chaos
- A significant controversy has arisen in prediction markets following Cardi B's appearance at the Super Bowl halftime show, leading to a formal complaint filed with the Commodity Futures Trading Commission (CFTC).
- The dispute centres on the ambiguity of whether Cardi B's presence, where she danced alongside other celebrities, constituted a qualifying 'performance' for betting purposes.
- Prediction market platform Kalshi, which saw over $47.3 million wagered on its relevant market, refunded all users due to this ambiguity.
- In contrast, Polymarket resolved its contract by affirming Cardi B had performed, a decision that is currently facing user dispute after over $10 million in volume.
- A trader, who had backed a 'Yes' outcome on Kalshi, has lodged a complaint with the CFTC, alleging the platform violated the Commodity Exchange Act and seeking $3,700 in damages.
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