Awards season sees rise in prediction market betting and new media partnerships

The landscape of awards season is shifting as prediction markets like Polymarket and Kalshi gain significant influence. During the recent Oscars, traders moved more than 120 million dollars into award contracts, marking a major surge in activity. Specifically, the Best Picture race drew over 52 million dollars across these two platforms, signaling that betting odds are becoming a critical metric alongside traditional critical reviews.

In media coverage, CNN and Variety have announced a renewed partnership to provide exclusive live red carpet coverage for the 78th Emmy Awards. The pre-show, titled ‘CNN & Variety Red Carpet Live: TV’s Biggest Night’, will be hosted by Elizabeth Wagmeister and Ramin Setoodeh. The stream is scheduled for September 14 and follows the success of their previous collaboration during the Oscars.