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Cardi B was one of the surprising celebrities who made a cameo during Bad Bunny's record-breaking Super Bowl halftime show.
However, her short appearance has caused a major dispute on prediction markets in a shocking move.
At least one trader from Kalshi, a prediction market platform, filed a complaint with the Commodity Futures Trading Commission, expressing their dissatisfaction with how the company handled a market linked to the WAP rapper's appearance.
The same happened on Polymarket, raising questions about how the outcome of the event was decided or managed.
Prediction markets provide an opportunity to trade, or wager, on the result of future events, and the markets are comprised of typically yes or no questions called event contracts.
Over $47.3 million was wagered on Kalshi's market for "Who will perform at the Big Game?"
Cardi B joined Karol G and actors Jessica Alba and Pedro Pascal during the cameo and danced to the music, but it was unclear whether she was singing along during the show, which included performances by Lady Gaga and Ricky Martin.
Due to "ambiguity over whether or not Cardi B's attendance at the 2026 Super Bowl halftime show constituted a qualifying 'performance,'" Kalshi cited one of its CFTC-approved rules in settling the market at the last price before trading was paused: $0.74 for No holders and $0.26 for Yes holders. The platform returned all the money to its users.
On Wednesday, February 11, Elisabeth Diana, Kalshi rep, said in a statement, "Under the full rules, singing and dancing counted as a performance, but just dancing in the background did not."
She added, "In the as-broadcast performance, Cardi B was dancing and mouthing words to the song, but it was unclear if she was 'singing.'"
Polymarket's contract was resolved as Cardi B had performed, but the "yes" was disputed.
As per the CFTC complaint, the trader alleges that Kalshi violated the Commodity Exchange Act with how it resolved the Cardi B contract. The trader, a Yes holder, is seeking $3,700.
