But what's the point of predicting how many times Elon will say "Trump" on an earnings call (or some random event Kalshi or Polymarket make up)? At least the stock market serves a purpose. People will claim "prediction markets are great for price discovery!" Ok. I'm so glad we found out the chance of Nicki Minaj saying "Bible" during some recent remarks. In case you were wondering, the chance peaked at around 45% and she did not say 'bible'! She passed up a great opportunity to buy the "yes" and make a ton of money!
I agree that the "will [person] say [word]" markets are stupid. "Will Brian Armstrong say the word 'Bitcoin' in the Q4 earnings call" is a stupid market because nobody a actually cares whether or not he actually says 'Bitcoin', they care about whether or not Coinbase is focusing on Bitcoin. If Armstrong manipulates the market by saying the words without actually doing anything, nobody wins except Armstrong. "Will Coinbase process $10B in Bitcoin transactions in Q4" is a much better market because, though Armstrong could still manipulate the market's outcome, his manipulation would influence a result that people actually care about. The existence of stupid markets doesn't invalidate the concept.
https://kalshi.com/markets/kxminajmention/nicki-minaj/kxmina...