Last night’s chaotic outcome in the Western Michigan-Michigan game created real chaos for the prediction markets, which have learned a valuable lesson from Yogi Berra once upon a time.
It’s not over until it’s over.
Through CNN’s Marshall Cohen, Kalshi confirmed that prematurely and mistakenly, treated the game as a Western Michigan victory. Kalshi later changed the outcome, taking money from the winners, refunding the losers, and then making the correct payments.
In total, Kalshi had $18.6 million in in-game volume.
Hopefully Kalshi and Polymarket will be a little more patient next time something like this happens. Otherwise, it will be déjà vu all over again.