Despite an economy that’s booming on paper, economists are warning that the middle class is being squeezed as new jobs aren’t materializing fast enough to make up for the ones we’re losing.
It’s a grim economic outlook for those who are already struggling to make ends meet. At the same time, sports betting is taking off, with experts warning of a surge in gambling addiction. And online “prediction market” platforms like Polymarket and Kalshi are taking things even further, allowing practically anybody to bet their hard-earned cash on dubious predictions, like whether the US will invade Venezuela — without any meaningful regulatory oversight to protect them from scams, insider trading, and financial ruin.
Even cable television is embracing the worrying trend. Case in point, CBS‘ 83rd Golden Globes award show showed a live ticker of Polymarket predictions for various awards during its Sunday evening broadcast of the event — actively encouraging viewers to gamble on the platform.
Some predictions turned out totally wrong, with “Sinners” taking a clear front lead on Polymarket for Best Drama, only for “Hamnet” to take the prize. Others triumphed, with the majority of users correctly betting on Paul Thomas Anderson winning Best Director for “One Battle After Another.”
Bets for the evening closed up at 7 am Sunday morning on Polymarket, which means live viewers were unable to get in on the fun. Nonetheless, onlookers were appalled at the pointed inclusion, turning the storied awards show into a glorified gambling ad. Many pointed out that the Golden Globes had already struggled with viewership in recent years, amidst a series of scandals involving corruption, racism, and even sexual assault.
In other words, encouraging crypto-based gambling was the cherry on top.
“‘The Golden Globes Best Podcast odds presented by Polymarket’ is a new low for this humiliating awards show,” tweeted Semafor senior social media editor Josh Billinson.
“The Golden Globes incorporating Polymarket betting ON SCREEN is genuinely disgusting, and we need to push back on these pocket casinos at every opportunity,” online celebrity Matt Bernstein wrote.
“We’re so deep into capitalism that the Golden Globes are showing [P]olymarket betting odds on award winners… we’re so cooked,” another user.
The Golden Globes’ owner, Penske Media Corp., announced the eyebrow-raising pairing-up between the Donald Trump Jr.-funded prediction platform and the Larry Ellison-run broadcaster last week.
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