Game of the Year prediction markets have become a multimillion-dollar business

Instead, wagering on Game of the Year has taken off on online prediction markets like Kalshi and Polymarket. These are, legally speaking, not gambling at all. They are peer-to-peer financial markets where users trade yes/no “contracts” on the outcome of real-world events. As such, there is no “house” setting odds that users are betting against. The market just takes a cut of the transactions, and the prices and payouts are set by the trading, as with a real financial market. If a lot of people are buying, the price goes up; if they’re selling, it goes down. They’re a bit like futures markets, only they’re about predicting events, not the price of goods.