If you're a homeowner or trying to become one, you were probably keeping a close eye on the Reserve Bank of New Zealand’s Official Cash Rate announcement today.
But there was another group financially invested in the decision, not because of their mortgage, but because they had money riding on the outcome.
On the online prediction market Polymarket, users were able to place bets on whether the central bank would hike, cut, or hold.
But their future in New Zealand looks uncertain after the Department of Internal Affairs said it believes Polymarket and other similar platforms are gambling sites, not financial instruments.
To help us dive into this we're welcoming back Night's resident philosopher Dan Weijers from Waikato University who wrote his post-doctorate on the ethics of using prediction markets to forecast terrorist attacks
Photo: polymarket
