Core Insights - The discussion revolves around the concept of insider trading in prediction markets, particularly in the context of a recent high trading day during the Super Bowl [1][5] - Kalshi CEO Tarek Mansour addressed whether knowledge of nonpublic information, such as the opening song for the halftime show, constitutes insider trading [2][4] Group 1: Insider Trading Context - Insider trading is defined as using material nonpublic information to profit from investments, which is illegal in financial markets [3] - Material nonpublic information typically includes sensitive details like upcoming earnings reports or mergers that could impact stock prices [3] - The distinction is made that the song lineup for a Super Bowl halftime show does not equate to the significance of an earnings report, raising questions about the nature of the information shared by performers or crew [4] Group 2: Prediction Market Growth - Prediction markets, such as Kalshi and Polymarket, are expanding, allowing users to bet on various real-world events, including financial outcomes [5] - The markets cover a wide range of topics, from financial indicators like Federal Reserve interest rate changes to more obscure bets, such as the return of Jesus Christ before 2027 [6]

Robinhood Markets (HOOD) saw a surge in its “Other Trading Revenue” (mainly from prediction markets) in 2025. The revenue jumped from $31 million at the end of 2024 to $147 million in December 2025. Robinhood’s prediction markets are powered by Kalahi. The increase in trading volume may be related to the Super Bowl. https://t.co/f03ESFY1AE ...

At the Super Bowl, all eyes were on Bad Bunny’s fashion, his sets, his guest stars, and his message. But his most understated accessory told a story of its own. https://t.co/aDa733wOYj ...

The Seahawks Are Super Bowl Champs — But Their Owner Can’t Profit From The Big WinAs executor of her late brother’s estate, Jody Allen led Seattle to its second title. But NFL rules may cut short the celebration by forcing the team to hit the market.https://t.co/YV72649LeF https://t.co/uCVFt9AXT0 ...

The free-for-all nature of prediction markets made it possible to bet on every facet of the Super Bowl. Traders like Liam Kane didn’t miss the chance. https://t.co/YVVkwKWJk8 ...

The Seattle Seahawks’ resounding defeat of the New England Patriots in Sunday’s Super Bowl attracted a TV audience of 124.9 million viewers, host NBC said, a 2.2% decline from last year https://t.co/1m9ajqpJfg ...

https://t.co/ht3qEwXyHj launched during the Super Bowl following a pricey domain buy from the founder of https://t.co/hglQp7AMzv. Here's what to expect. https://t.co/QCvuLe5KYR ...

From @WSJFreeEx via @WSJOpinion: Kid Rock staged an unexpectedly touching Super Bowl halftime performance on Sunday, writes @heymillerhttps://t.co/fI9slyglxi ...

https://t.co/ht3qEwXyHj Debuts During Super Bowl After $70 Million Domain Name Buy—What's the Deal?https://t.co/toQL2O9aMs ...

Kalshi said it registered over $1 billion in trades related to the Super Bowl, a record surge that underscored the threat that booming prediction markets pose to traditional gambling companies https://t.co/7mhhE44Ax9 ...