Despite an economy that’s booming on paper, economists are warning that the middle class is being squeezed as new jobs aren’t materializing fast enough to make up for the ones we’re losing.
It’s a grim economic outlook for those who are already struggling to make ends meet. At the same time, sports betting is taking off, with experts warning of a surge in gambling addiction. And online “prediction market” platforms like Polymarket and Kalshi are taking things even further, allowing practically anybody to bet their hard-earned cash on dubious predictions, like whether the US will invade Venezuela — without any meaningful regulatory oversight to protect them from scams, insider trading, and financial ruin.
Even cable television is embracing the worrying trend. Case in point, CBS‘ 83rd Golden Globes award show showed a live ticker of Polymarket predictions for various awards during its Sunday evening broadcast of the event — actively encouraging viewers to gamble on the platform.
Some predictions turned out totally wrong, with “Sinners” taking a clear front lead on Polymarket for Best Drama, only for “Hamnet” to take the prize. Others triumphed, with the majority of users correctly betting on Paul Thomas Anderson winning Best Director for “One Battle After Another.”
Bets for the evening closed up at 7 am Sunday morning on Polymarket, which means live viewers were unable to get in on the fun. Nonetheless, onlookers were appalled at the pointed inclusion, turning the storied awards show into a glorified gambling ad. Many pointed out that the Golden Globes had already struggled with viewership in recent years, amidst a series of scandals involving corruption, racism, and even sexual assault.
In other words, encouraging crypto-based gambling was the cherry on top.
“‘The Golden Globes Best Podcast odds presented by Polymarket’ is a new low for this humiliating awards show,” tweeted Semafor senior social media editor Josh Billinson.
“The Golden Globes incorporating Polymarket betting ON SCREEN is genuinely disgusting, and we need to push back on these pocket casinos at every opportunity,” online celebrity Matt Bernstein wrote.
“We’re so deep into capitalism that the Golden Globes are showing [P]olymarket betting odds on award winners… we’re so cooked,” another user.
The Golden Globes’ owner, Penske Media Corp., announced the eyebrow-raising pairing-up between the Donald Trump Jr.-funded prediction platform and the Larry Ellison-run broadcaster last week.
“Our partnership with Polymarket unlocks a groundbreaking new frontier, redefining how audiences engage with and connect to the content they love,” said president Craig Perreault in a statement. “Deepening the connection between fans and their favorite films, shows, and actors strengthens the entertainment industry and highlights the award-winning content celebrated at the Golden Globes.”
Penske-owned publications, including Variety,Deadline, and The Hollywood Reporter, breathlessly promoted the partnership, as The Wrap reports, suggesting a troubling degree of editorial influence.
The timing of the partnership couldn’t have been worse. The news comes just days after Polymarket became embroiled in a major insider trading scandal after a mystery trader made more than $400,000 by making incredibly well-timed bets on the United States’ attacks on Venezuela — just hours before the US invaded the South American country.
In a certain sense, the Golden Globes flap is fitting; the awards show has long garnered a reputation for being pay-to-play, giving preferential treatment to those willing to line Penske’s pockets.
To many, directly encouraging users to bet on awards during an awards ceremony is not just irritating; it’s a sign of the times we live in, as gambling becomes a mainstay part of Americans’ everyday lives.
“This is like watching a car crash in real time,” one user lamented.
“Polymarket odds on the telecast of the Golden Globes,” another wrote. “Just push me in front of a bus at this point.”
Others poked fun at Penske achieving a new low.
“Heartfelt congratulations to Penske Media for achieving its highest state of being,” author Mark Harris wrote mockingly on Bluesky.
More on Polymarket: War Profiteers Furious After Polymarket Refuses to Pay Out on Venezuelan Invasion Bets
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