Gamblers Stake Millions As Betting Sites Predict Next Pope
Gamblers are staking millions of dollars on who will become the next pope, as the Catholic Church begins the secretive process of selecting a new pontiff.
Polymarket, a cryptocurrency-based betting platform, and Kalshi, another prediction market, have both opened betting pools on the outcome of the papal conclave.
Cardinal Pietro Parolin, the Vatican’s Secretary of State, is the leading candidate on both platforms.
He leads with 27 per cent odds on Polymarket and 29 per cent on Kalshi.
Cardinal Luis Antonio Tagle of the Philippines follows closely behind with 23 and 22 per cent odds, respectively.
Cardinals Matteo Zuppi, Pierbattista Pizzaballa, and Peter Erdo also rank high on Polymarket with 11, 10, and 7 per cent odds, respectively.
Over $21 million has already been wagered on Polymarket, while Kalshi has seen more than $8 million in bets.
The conclave, which officially commenced on Wednesday with 133 cardinals in attendance, will continue until a new pope emerges with a two-thirds majority vote.
Black smoke was seen from the Sistine Chapel chimney after the first round of voting, signalling no decision had been reached.
White smoke will indicate when a new pope has been elected.
The 2013 election saw a surprise result when Cardinal Jorge Mario Bergoglio was chosen as Pope Francis, despite Cardinal Angelo Scola being tipped as favourite at the time.
Titilope Adako is a talented and intrepid journalist, dedicated to shedding light on the untold stories of Osun State and Nigeria. Through incisive reporting, she tackles a broad spectrum of topics, from politics and social justice to culture and entertainment, with a commitment to accuracy, empathy, and inspiring positive change.
