"Kalshi is taking a page from Warren Buffett's playbook by offering a $1 billion prize to any user who has the perfect March Madness bracket, despite the odds being 1 in 120.2 billion."
"If no one has the perfect bracket, the person with the highest score will receive $1 million, with ties split equally among winners."
"Kalshi admits that it knows 'the odds aren't in your favor,' highlighting the extreme difficulty of achieving a perfect bracket."
"The contest is financially backed by SIG Parametrics, a member of the Susquehanna International Group of Companies, ensuring substantial support for the prize."
Kalshi is offering a $1 billion prize for anyone who can create a perfect March Madness bracket, similar to a contest initiated by Warren Buffett. The odds of achieving a perfect bracket are estimated at 1 in 120.2 billion. If no one wins, the highest scoring participant will receive $1 million. Eligibility is limited to U.S. citizens over 18, excluding residents of New York and Florida. The contest is financially backed by SIG Parametrics and follows a tradition established by Berkshire Hathaway.
Read at Fortune
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