Gate News reports that on March 17, the prediction market platform Kalshi announced that it will follow Warren Buffett’s example for NCAA March Madness (the U.S. college basketball tournament) by offering a $1 billion reward for users who perfectly predict all match outcomes. Considering that no one has ever been able to achieve this prediction (probability is 1 in 1.2 billion), Kalshi will award $1 million to the user with the highest prediction score and allocate another $1 million to support charitable organizations. NCAA March Madness begins tomorrow, March 18. Since 2014, Buffett has offered a $1 billion prize for Berkshire Hathaway employees who correctly predict all game results, paid out over 40 years, but no one has won due to the difficulty. In 2018, Buffett lowered the difficulty; anyone who accurately predicts the results of the 16-team bracket will receive a $1 million annual prize.
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