Hollywood cracking down on industry insiders betting on Kalshi, Polymarket

Entertainment industry insiders looking to cash in on prediction market betting will have a much harder time, according to The Hollywood Reporter. THR reports that Hollywood studios and production companies have been releasing new guidelines prohibiting employees from using their knowledge of casting news, release dates, and studio earnings to place bets on platforms like Kalshi and Polymarket. That means no more betting on things like the Dancing With The Stars season 35 winner, the next James Bond, and the yet-to-be-revealed full cast of Avengers: Doomsday. And if employees think they can sidestep the rules by sharing insider tips with friends and family to place bets, that’s also not allowed. According to THR, Hollywood is taking the crackdown seriously. One company reportedly set up a hotline to anonymously report rule-breakers, while PMC (the media company behind THR, Variety, and Deadline) recently updated its employee handbook to explicitly ban prediction market betting.