Polymarket users placed 27 bets on the Golden Globe Awards results, with 26 of them hitting correctly. As popularity of prediction market platforms rises, concerns about insider trading also increase.
The partnership between Polymarket and the Golden Globes has raised questions about whether such practices could become the new standard at future award ceremonies.
Polymarket hits 96% accuracy on Golden Globes
On Friday, the Golden Globes announced in an official press release that they had formed a partnership with the world's largest prediction market platform for their annual awards ceremony.
On the same day, Polymarket launched 28 Golden Globe-related votes, 27 of which focused on the winners in each category.
Within just three days, millions flocked to the platform to bet on this year's winners. Topics ranged from Best Picture to Best Podcast, with some transaction volumes exceeding $275,000. Total contract trading volume reached at least $2.5 million.
On Sunday, the ceremony proceeded as expected. By the end of the night, it wasn't just the winners on stage who received awards.
Polymarket bettors also achieved an impressive 96% accuracy rate, correctly predicting 26 out of 27 categories, a result worthy of celebration.
The only ones who suffered were those who picked Sean Penn for Best Supporting Actor, only to see Stellan Skarsgård win for 'Sentimental Value', leaving them with regret.
Many were surprised by the partnership announced at the last minute. Furthermore, this result reignited concerns about the potential for insider trading on loosely regulated platforms.
Doubts over event contract reliability grow
It's been only two weeks since 2026 began, yet several events related to prediction market voting have drawn widespread attention.
On Wednesday, there was controversy in the White House press room. Press secretary Caroline Leak concluded her daily briefing after approximately 64 minutes and 30 seconds, narrowly falling short of the 65-minute mark set by the prediction market platform Kalshi.
At the time, the market showed a 98% probability that the briefing would exceed 65 minutes. Investors who bet against this expectation quickly made profits up to 50 times their initial investment.
This incident rapidly intensified concerns about insider trading. However, Kalshi dismissed the claims as baseless, citing low trading volume.
Nevertheless, it is difficult to ignore recent cases related to these concerns.
On January 3, just hours before the U.S. arrested and extradited Venezuela's Nicolás Maduro, a Polymarket trader bet that the figure would be ousted before month-end, earning over $400,000.
Polymarket also attracts investments related to politics. According to Axios, in 2025, the company announced receiving investment from 1789 Capital, which included Donald Trump Jr. on its board.
These cases highlight the growing convergence between cryptocurrency and prediction markets.
Increased cryptocurrency inflow...betting transaction volume ↑
Polymarket is closely integrated with on-chain networks. Users can move funds across various networks such as Ethereum, Polygon, Base, and Arbitrum, and deposit assets like USDT and USDC.
As betting activity expands, demand for stablecoins is expected to grow further, strengthening the platform's position in this market.
With the Oscars about two months away, the Golden Globes' results suggest that such accurate prediction market platforms could become a common feature at future award ceremonies.
The Academy Awards (Oscars) have not yet announced such a partnership, but on Polymarket, voting for results in each category has already been opened.
Currently, trading volume across 22 votes ranges from $112,000 to $8 million.
