Humans will never be able to accurately predict the future. But they will soon be able to win or lose a ton of money based on what they think will happen.
With $30 million in funding from big-name venture capitalists, trading platform Kalshi will soon allow users to place bets on yes-or-no questions that predict future events, The Wall Street Journal reports. For example, Kalshi could've asked last year if a COVID-19 vaccine would've been approved by the end of 2020, paying out $1 to any user who bought a single contract guessing "yes," and nothing to those who'd picked "no."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Colleges are canceling affinity graduations amid DEI attacks but students are pressing onIn the Spotlight The commencement at Harvard University was in the news, but other colleges are also taking action
-
When did computer passwords become a thing?The Explainer People have been racking their brains for good codes for longer than you might think
-
What to know before 'buying the dip'the explainer Purchasing a stock once it has fallen in value can pay off — or cost you big
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
