What controversy surrounds Cardi B's Super Bowl halftime show appearance?

Controversy arose in prediction markets like Kalshi and Polymarket over how to resolve event contracts related to Cardi B's participation, specifically whether her presence counted as a "performance."

How did prediction markets like Kalshi and Polymarket handle the Cardi B halftime event?

Kalshi settled its market based on the last trading price before a pause and returned funds, while Polymarket's resolution for Cardi B's performance is still pending a final decision.

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Cardi B Halftime Gig Sparks Prediction Market Chaos

Q: Did a trader file a complaint regarding the Cardi B Super Bowl contract?

Yes, one trader has filed a complaint with the Commodity Futures Trading Commission (CFTC) alleging violations of the Commodity Exchange Act concerning the resolution of the Cardi B contract.

11 Feb

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Summary

Prediction markets saw major disruption over Cardi B's Super Bowl halftime role.
One trader filed a complaint with the CFTC regarding contract resolution.
Markets debated if Cardi B's appearance constituted a performance.

Cardi B Halftime Gig Sparks Prediction Market Chaos

The recent Super Bowl halftime show, featuring Cardi B, has triggered significant controversy within prediction markets. Platforms like Kalshi and Polymarket experienced user complaints due to the ambiguous resolution of event contracts concerning Cardi B's participation. One trader has lodged a formal complaint with the Commodity Futures Trading Commission (CFTC), alleging violations of the Commodity Exchange Act. This dispute arises from differing interpretations of whether Cardi B's presence on stage constituted a "performance" for the purpose of these contracts. Kalshi settled its market based on the last trading price before a pause, returning funds to users, while Polymarket's resolution is still pending a final decision. This situation underscores a period of heightened activity for prediction markets, with Kalshi reporting record trading volumes for the Super Bowl. The platform also addressed deposit issues caused by an unexpected surge in user traffic, assuring users that processing fees would be reimbursed and credits issued for delays.