Betting on the next pope is back: Polymarket sparks global buzz on who will succeed Pope Francis; here's who it's projecting
Global interest surges as prediction markets open bets on the next Pope. Pietro Parolin, Vatican's Secretary of State, leads with a 37% chance. Filipino Luis Antonio Gokim Tagle follows with 32%. Péter Erdő, a Hungarian, holds 7%. Peter Turkson of Ghana secures 6%. Over $3 million wagered on potential pontiffs.
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While the world focuses on the future of the Catholic Church , a tradition dating back centuries has come back with a contemporary spin of wagering on the next pope, as per a report. Polymarket , the prediction market platform, has sparked worldwide interest by opening up bets on who will be the next pope after Pope Francis died at the age of 88 years on Monday, according to DailyBeast.The betting platform found that, Italian Pietro Parolin , the Vatican's 70-year-old secretary of state since 2013, has a 37% chance to be elected as the next pope, as per the report. He is also known as the 'deputy pope' and is considered a moderate choice, according to DailyBeast.The next option is Filipino Luis Antonio Gokim Tagle, with the second highest chance of being Francis' successor as he has 32% bets on Polymarket. The 67-year-old is also referred to as the 'Asian Francis' due to his commitments to social justice and he would be the first pope from Asia, as per DailyBeast.In the third position is Péter Erdő , a 72-year-old Hungarian, with 7% bets on the platform. According to DailyBeast, he is conisdered to be more of a conservative than Francis or the first two Polymarket contenders.After Erdő, was Peter Turkson of Ghana, who had 6% bets, as per DailyBeast. The 76-year-old would be the first pope from sub-Saharan Africa, according to the report.DailyBeast reported that the American cryptocurrency-based has accepted $3 million in wagers in total, with money being put behind a pack of 13 possible pontiffs. Polymarket is also accepting wagers on other pope-related markets, like his race and when he will be chosen, reported DailyBeast.Pietro Parolin is currently the leading with a 37% chance of being elected as the next pope, as per DailyBeast.Polymarket has accepted over $3 million in bets on who will be the next pope.
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Time of India
an hour ago
- Time of India
Singapore casts tax shadow on India bets, shuns shell companies
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India.com
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- India.com
Why is Trump desperate for a trade deal with China? Know the SHOCKING reasons that brought US to its knees due to...
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China dominates the global supply of rare earth elements, which are used by the US defense industry to manufacture advanced weapons and defense systems like radar systems, fighter jet engines, etc. According to a report by the South China Morning Post, China controls more than 90 percent of the world's processing and refining of rare earth elements, and also leads in other refining an extraction of other critical minerals like refined gallium, of which it controls 98.8 percent of global production. In recent years, Beijing has leveraged its dominance in critical mineral production and refining as a major negotiating point in trade wars, as well as targeting the defence industries of the US and its allies. The US defense industry is majorly dependent on China for rare earth minerals, but the supply has been nearly halted due to the ongoing US-China tariff war. China has imposed an export ban on rare earth elements to the US, effectively weaking the Pentagon's Pentagon's military preparations and weapons manufacturing capabilities. How China pressured the US into submission? In July 2023, Beijing imposed export controls requiring Chinese exporters to seek permission to ship eight gallium-related and six germanium-related products to other countries. In August last year, the list was expanded to include antimony, and in December, the Chinese Ministry of Commerce imposed export restrictions on gallium, germanium and antimony to the United States, as Beijing anticipated a trade war when Trump assumed office. In April this year, Beijing imposed export restrictions, mandating special export licenses for seven categories of medium and heavy rare earth elements (REEs) – samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium – as well as magnets and other finished products containing these REEs to be shipped out of China. 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