Don’t mention it
At the end of Coinbase’s quarterly earnings call last week, the digital currency exchange’s CEO, Brian Armstrong, closed out with a list: “bitcoin, Ethereum, blockchain, staking, and Web3”. They weren’t random buzzwords, said Emily Nicolle and Justina Lee on Bloomberg, but “part of an $84,000 betting market”. Users on the two main prediction market platforms, Kalshi and Polymarket, had taken bets on keywords that might be used during the call, and Armstrong decided to have some fun. So-called “mention markets” are a niche category in the broader prediction market boom; bets usually focus on earnings, price moves, sports games and elections. For years, advocates have argued prediction markets are an efficient, democratic way to forecast outcomes, since markets aggregate information better than polls or pundits. “Yet mention…