‘SNL’ Pokes Fun at Prediction Markets That Allow People to Gamble on Just About Everything
Posted on: April 6, 2026, 10:21h.
Last updated on: April 6, 2026, 10:21h.
- “SNL” took a jab at Kalshi and prediction markets on Saturday night
- An impersonated Charles Barkley says he’s betting on what he’ll say during the show
“Saturday Night Live” on Saturday night poked fun at Kalshi, the prediction market that allows traders to buy and sell shares of future events.
During the late-night show’s cold open, the show did a sketch of the NCAA March Madness Final Four in Indianapolis featuring impressions of the CBS Sports crew, including Charles Barkley. Portrayed by Kenan Thompson, the impersonated Barkley told the post-game panel that “you can bet on anything now.”
“Have you guys seen these sites like Kalshi? You can bet on what your favorite sports commentator will say on live TV,” Barkley teases.
Watch this. Rumpelstiltskin. I just made $200,000,” Barkley said, as his phone notified him of a win.
To watch the full sketch, click here.
Prediction Markets Controversy
Kalshi doesn’t actually have a market on what Charles Barkley will say during the pre- and post-game NCAA March Madness commentary, but traders can stake wagers on other television hosts’ talking points.
For example, one event contract today surrounds what Fox News host Sean Hannity will say during his show tonight. Shares of the word “fraud” are trading at 51 cents. “NASA/Artemis” is at 55 cents. The odds of Hannity referencing “Biden” are priced at 45 cents.
Prediction markets have been criticized for being susceptible to insider trading. Many well-timed, large bets from newly formed Polymarket accounts on the US-Israel’s attacks on Iran raised eyebrows. Several pieces of legislation to limit what sort of event contracts prediction markets can offer have been introduced in Congress.
Prediction Markets Insider Trading
Kalshi’s contracts regarding Hannity’s show, and there are many other similar contracts, ranging from what Rachel Maddow will say this evening to what the announcers of the Houston Rockets vs. Phoenix Suns NBA game will say, seem prone to insider trading. A staff writer on Hannity or Maddow’s show would seemingly have an easy time tipping a friend to trade on what the hosts will say.
Kalshi claims it works diligently to identify insider trading. The prediction market says it runs real-time market monitoring and surveillance to flag suspicious patterns and irregular win-rates. Flagged accounts, Kalshi says, are frozen immediately as a probe into the customer’s trading activity is conducted.
Kalshi details that it recently detected and banned an account linked to a video editor who worked for a popular YouTube streamer.
Our surveillance systems flagged near-perfect trading success on markets with statistically low odds — anomalous at a scale that could not be explained by skill alone. Because all trading data is publicly available, multiple Kalshi users also submitted tips about the unusual activity. Investigation revealed the trader was employed as an editor for the streamer’s show, with likely access to material non-public information connected to his trading,” Kalshi explained.
The account was suspended for two years and fined five times the amount won. The account won’t be restored until the money is paid.
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