I waited nearly 2 hours in the freezing cold for Kalshi's free groceries. Almost nobody cared about prediction markets.

About an hour into my wait for Kalshi's free groceries event, I could no longer feel my toes. It was 30 degrees in New York with a fierce windchill, and I was in line for $50 in free groceries from a betting site. My neighbor in line kept wiping away tears. In ultra-expensive New York, cheap …