Stormbound residents of North Jersey can wager real money on how much snow will fall during the ongoing storm.
Kalshi Inc. is accepting bets on the snowfall in New York City in 10 prediction markets, based on inch counts between 2 inches and 2 feet.
Prediction markets on Kalshi work when a user buys a contract, priced from a penny to 99 cents, representing the probability that a certain event will occur. If that user is correct, the contract settles at $1.
For the snowfall prediction markets, bettors wagered more than $1.5 million by Jan. 25 at 9 a.m. Inch counts will be verified through data supplied by National Weather Service.
Users of the cellphone app and web-based platform can make dozens of other oddball prophecies, including a movie’s future score on Rotten Tomatoes, the number of SpaceX launches in any given month and whether Americans will actually receive tariff stimulus checks in the mail.
The region for New York City and New Jersey was predicted to get somewhere between 8 and 14 inches of snow, depending on the specific spot.
Philip DeVencentis is a reporter for NorthJersey.com. For access to the most important news in your community, subscribe or activate your digital account.
Email: devencentis@northjersey.com
This article originally appeared on NorthJersey.com: Betting on snow totals is possible. Here’s how