Prediction market website falsely claims ties to PN
The Nationalist Party has denied having anything to do with a prediction market site that falsely claimed on social media to be 'a service' provided by the PN
A mysterious early version of a prediction market has cropped up falsely claiming to be backed by the Nationalist Party.
Hunch.mt launched on Tuesday 12 May in beta format as a prediction market “on all things Malta.” In a Facebook post it claimed to be “a service by Partit Nazzjonalista".
When contacted, a Nationalist Party spokesperson denied the party had any involvement with the site. "We have nothing to do with this," he said.
Meanwhile, the original Hunch.mt Facebook post referencing the PN has since been removed and the site has put up posts emphasising that it is "not affiliated with any political party".
Unlike traditional betting sites, prediction markets do not use fixed odds to calculate payouts, as the odds are determined by users themselves depending on where most of the bets are placed.
Although the website doesn’t currently allow betting and is currently acting as an online poll, it plans to acquire a Maltese gaming licence. According to the website, the end goal “is a prediction market built locally for Maltese topics, by people who actually live here.”
MaltaToday has reached out to Hunch.mt to inquire about its ownership and claims of ties to the PN but no replies were forthcoming.
Meanwhile, they have deleted their Facebook page and created a new one, while claiming that the previous one was a "fake." This time, they stated that they have no party affiliation.
Globally, two prediction markets, Polymarket and Kalshi, have dominated the sector, and have even introduced markets for Malta’s general election. The companies have come under scrutiny over their claims that their products don’t constitute gambling. Others criticise such betting markets as ways for people with insider information to make big profits, especially on consequential and even deadly outcomes such as wars and famines.
