Crypto prediction market Kalshi pulled in nearly $1.3 million more than its biggest rival Polymarket after they both launched trades based on an episode of controversial animation South Park featuring the pair.
Kalshi had $1.5 million in volume on its “What will the South Park characters say?” market while Polymarket had a more modest $203,000 on markets speculating about what would be said and which of the show’s characters would trade.
The episode in general poked fun at the absurdity of prediction markets, with platforms taking bets on whether or not central character Kyle Broflovski’s Jewish mother would strike Gaza and bomb a Palestinian hospital.
Another of the main characters, Cartman, bets that Kyle’s mother won’t bomb a hospital, but convinces everyone that she will so that the potential profits of his “no” bet increase.
This market manipulation was called out by Stan, who described it as an illegal conflict of interest.
The episode poked fun Donald Trump Jr, showing him in an advisory role with both prediction markets.
It also took a swipe at the perceived power the Trump administration exerts over regulatory bodies, with Trump Jr depicted as having an advisory role with Israel, being on the Commodity Futures Trading Commission and the Federal Communications Commission, and holding significant sway in the White House.
For their part, Polymarket and Kalshi, took the episode in good humor, treating it as free promotion.
Indeed, Polymarket CEO Shayne Coplan described seeing his company on the show as “surreal,” while Kalshi CEO Tarek Mansour noted the episode “even got the referral bonus right.”
Read more: Crypto traders ‘talking to lawyers’ over Polymarket’s Zelenskyy suit bet
During the episode, South Park’s Fox News anchors describe the prediction markets as a loophole around gambling laws.
Meanwhile, crypto journalist Molly White has previously highlighted how prediction markets like Kalshi have argued in court that any “gambling,” “betting,” or “casino” classification doesn’t apply to them and that they should be exempt from gambling laws.
White notes how the lack of regulation has made these markets “ripe for manipulation,” and questioned whether or not these sites are just gambling platforms “operating under the veneer of financial markets.”
Got a tip? Send us an email securely via Protos Leaks. For more informed news, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.
Source: https://protos.com/kalshi-outpaces-polymarket-after-pair-feature-in-south-park-episode/
