Kalshi Follows Buffett's Lead to Launch $10 Billion NCAA "March Madness" Prediction Grand Prize

Odaily News Kalshi posted on X, stating that it will emulate the prediction reward offered by Warren Buffett for the NCAA "March Madness" tournament. It will provide a $10 billion reward to users who perfectly predict the outcomes of all matchups. Considering that no one has ever completed such a prediction (the probability is 1 in 120 billion), Kalshi will offer a $1 million reward to the user with the highest prediction score and allocate an additional $1 million to support charitable organizations.

Odaily Note: The NCAA "March Madness" tournament officially begins tomorrow. Since 2014, Warren Buffett has offered a $1 billion bounty. Employees of his company, Berkshire Hathaway, who correctly guess the outcomes of all games would be eligible for this massive prize, to be paid out by the company over 40 years. However, due to the extreme difficulty, no one has ever won. In 2018, Buffett lowered the prediction difficulty. If someone accurately predicts the results of the Sweet 16 matchups, they will receive $1 million annually thereafter.