Betting on the End of the World: Climate Crisis Becomes New Gambling Trend
Part of composite article Climate Bets Explode Into $1.1 Billion Industry as New York Sues Polymarket View full article →
Prediction markets are now letting people bet on extreme weather and the climate crisis. This has raised questions about what exactly is being wagered on.
How hot will your city be tomorrow? How fast will ice melt and coral reefs die? How many costly climate disasters will strike this year? You can now place online bets on these questions.
In the US, major prediction markets like Kalshi and Polymarket are expanding beyond sports and crypto into climate. Kalshi reported 500% growth in weather and climate wagers over the past year, reaching $1.1 billion. The company is now partnering with the Weather Company, which owns the Weather Channel, to build credibility in this new market.