Kate Knibbs: So, you went there twice?

Makena Kelly: Yes, Kate. I went there twice.

Kate Knibbs: I missed that detail.

Zoë Schiffer: Hold on, is the Pentagon Pizza thing a joke about the pizza foretelling the war?

Makena Kelly: Yep.

Zoë Schiffer: Oh, my gosh.

Makena Kelly: Because they had these Pentagon pizza trackers set up. When I returned the second night, most things were running. Some displays were still off, and I didn’t spot any real Bloomberg terminals. There were a few self-made monitors that looked like Bloomberg terminals, but there was no authentic $50,000 Bloomberg terminal around. The second night was again crowded with people eager to witness the event, though I did run into a couple of individuals who wagered on sites like Polymarket and Kalshi. One of them, William, claimed he was in the military but didn’t provide his full name. He began betting last year with all his tax refund on Oklahoma City sports wagering.

Makena Kelly, archival audio: So, you’ve used Kalshi?

William, archival audio: Yes.

Makena Kelly, archival audio: When did you first start using that service?

William, archival audio: Probably when I got my tax refund back.

Makena Kelly, archival audio: Got it.

William, archival audio: So, I filed my taxes early and thought, “Awesome, I got my tax refund. What should I do with it?” So, I chose to put it on Kalshi.

Makena Kelly: He noted he’s fluctuating by $100 but hasn’t scored any big wins. Unlike some tales of people making enormous insider bets and winning millions, he’s just in it for the enjoyment.

Brian Barrett: Kate, what’s your take on a pop-up like this and Polymarket’s intentions—is it a move to legitimize or just a promotional strategy? And how does it align with these companies’ rapid growth and their effort to attract a wide audience?

Kate Knibbs: This event clearly appears to be a strategic effort to appeal to journalists based in DC. One observation Makena made encapsulates the current situation—the individuals in the Palantir hoodies. The week this bar launched, Polymarket announced a collaboration with Palantir, who will assist them in ensuring the integrity of their sports market by identifying insider traders and market manipulators. I inquired with Polymarket last week if they had additional agreements with Palantir while investigating the Iran bets that are stirring up a lot of attention. They stated Palantir is only involved with sports, which seemed peculiar. It indicates how rapidly they’re growing, but in a chaotic, rushed manner that doesn’t seem coherent. If you’re engaging Palantir, why not use them for geopolitical issues instead of March Madness? Truly wild times.