Kalshi users have been left outraged after a decision from the prediction market regarding Cardi B’s Super Bowl appearance.
At least one Commodity Futures Trading Commission (CFTC) has reportedly been filed after Kalshi’s controversial Super Bowl LX decision. Prediction market expert Dustin Gouker has shared that at least one person has filed a formal complaint to the CFTC. This may spark a review by the CFTC and possibly further investigation and penalties if deemed necessary.
Depending on which prediction market was used, those who wagered on Cardi B making an appearance at the Super Bowl LX Halftime Show have had different outcomes. Polymarket settled the event contract in favor of those who bet that she would appear, but fellow prediction market Kalshi has invoked Rule 6.3 to only issue a partial settlement.
This has triggered both outrage on social media and the formal complaint to the CFTC. Kalshi has cited ambiguity over whether Cardi B only appearing to dance qualifies as a performance, or whether she needed to actually sing.
“Due to ambiguity over whether or not Cardi B’s attendance at the 2026 Super Bowl halftime show constituted a qualifying ‘performance’, Kalshi is invoking Rule 6.3(c) to settle this market to the last traded price before trading was paused,” reads a statement from Kalshi on its website. “Those prices are $0.26 for Yes holders and $0.74 for No holders. Conversely, per Kalshi’s full rules, celebrities that danced in the background during the halftime show but did not visibly sing or play an instrument did not ‘perform’ for purposes of the contract.”
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A partial settlement has been issued to users at $0.26 for “Yes” and $0.74 for “No”, meaning it’s effectively a refund rather than a full payout.
Reactions to the Cardi B decision from Kalshi
Others have taken to social media to criticize the decision from Kalshi, with one user calling the move “disgusting”.
“Kalshi settling Cardi B as not performing (despite clearly meeting all three requirements) is just more proof that they are scumbags who settle based on their own personal interest,” wrote X user EV Massachusetts. “They settled Karol G and Cardi B differently despite them doing the exact same thing. Disgusting.”
Readwrite has reached out to the CFTC for further comment.
Featured image: Wikimedia Commons, licensed under CC BY-SA 4.0
