Wanna place a bet on whether or not Gov Ball will be canceled due to Covid? A financial startup has opened up a market for the wagers
Recently, Kalshi has deemed Governor’s Ball, the upcoming music festival in New York, enough of a risk to add it onto the market list. Kalshi users now have an almost hilariously macabre means of commodifying Covid’s ongoing impact on live music — one of the largest blows the global music business has ever seen — for themselves.
As of publication, over 1,500 people have placed wagers on whether Governor’s Ball will cancel at least one day of the three-day festival, due to take place September 24th to the 26th. Buying on a cancellation currently costs 24 cents per contract, while wagering that the show will go on as planned costs 78 cents, meaning that Kalshi’s market seems much more confident in a full slate of shows with no speed bumps..
Those hoping to trade on future festivals may be in luck: Kalshi says the Governor’s Ball cancellation contract is the first of many the company is planning to offer, going forward.
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