Astronomer CEO's âkiss camâ controversy sparked over $7 million in prediction markets bets on his ouster
The controversy triggered $2.4 million in total trading volumes on Kalshi, marking one of the most traded cultural events on prediction markets.
Astronomer CEOÂ Andy Byron's controversy went so viral that it sparked millions of dollars in bets on prediction markets over his resignation.
On July 16, Bryon was caught on camera hugging his human resources director Kristin Cabot on a kiss cam during a Coldplay concert with the two quickly ducking for cover. The footage suddenly grabbed global attention and attracted significant activity on popular prediction platforms Kalshi and Polymarket.
By the following day, Kalshi was pricing in a probability as high as 65% that Byron would leave as Astronomer CEO this month. On Polymarket, the odds of him resigning rose from about 30% initially to over 80% on Friday.
The tech company announced Bryon's resignation Saturday afternoon, putting an end to the speculation. The controversy triggered $2.4 million in total trading volumes on Kalshi and $5.3 million on Polymarket, marking one of the most traded cultural events on prediction markets in recent years.
