Astronomer CEO’s ‘kiss cam’ controversy sparked over $7 million in prediction markets bets on his ouster
Jordi Vidal | Redferns | Getty Images
The debate of Andy Byron, CEO of the astronomer, became so viral that he fired millions of dollars in bets on the estimation markets on his resignation.
On July 16, Bryon embraced Human Resources Director Kristin Cabot in a Kiss Cam in a Kiss Cam, and quickly dived for the cover during a Coldplay concert. The images suddenly attracted global attention and attracted a significant activity at the popular prediction platforms Kalshi and Polymarket.
The next day, Kalshi priced up to 65% that Byron would be separated as an astronomer CEO this month. The probability of resignation in Polymarket on Friday, starting from 30% to 80% at the beginning.
The technology company announced the resignation of Bryon on Saturday afternoon by ending the speculation. The debate triggered $ 2.4 million in the total transaction volume in Kalshi and $ 5.3 million in Polymaret and marked one of the most traded cultural activities in the estimation markets in recent years.
Byron’s resignation, the astronomer said on Friday, a “official investigation” on the subject launched and CEO’nun administrative leave, he said.
The popularity of the forecasting platforms rose to the 2024 Presidential elections and became the main current to measure the emotions of the crowd on various issues.
Another popular active bet about Kalshi is whether the Federal Reserve Jerome Powell can be president this year, which has earned more than $ 2 million in trading volumes. President Donald Trump threatened to fire Powell over and over again and criticized him for not lowering his interest rates.
