Prediction market platforms are competing to distribute free groceries in New York City, in a move reminiscent of Mayor Zohran Mamdani’s proposal for municipality-owned stores.
Free Groceries For New Yorkers?
Polygon (CRYPTO: POL)-based Polymarket said Tuesday it will launch “The Polymarket,” a “fully-stocked” physical store where New Yorkers can get free groceries.
Polymarket said they have signed the lease after months of planning. The store is set for a “grand opening” on Feb. 12.
The Manhattan-based startup has not disclosed the new store’s address. According to Business Insider, it will operate for a limited period, from next Thursday through Sunday.
Polymarket didn’t immediately return Benzinga’s request for confirmation.
Meanwhile, Polymarket announced a $1 million donation to Food Bank For NYC — a nonprofit hunger-relief organization — in addition to opening the store.
Kalshi, another prominent prediction market, hosted a free groceries event at Westside Market at 84 3rd Ave on Tuesday, covering up to $50 per person for a limited time.
Note that Kalshi is also headquartered in New York City.
Is There A Mamdani Link?
The announcements echo Mamdani’s mayoral campaign proposal of opening city-owned grocery stores, one in each borough, aimed at delivering fresh, affordable food to regions with limited access to supermarkets.
The Growth Of Prediction Markets
Kalshi and Polymarket have become the go-to platforms for speculating on anything under the sun, from geopolitics and sports to stock movements, wars, and natural disasters.
According to Dune Analytics, the two platforms account for more than 90% of the prediction industry, with monthly notional volumes for both exceeding $7 billion in January.
Photo courtesy: PJ McDonnell on Shutterstock.com
Recent Comments