In the eyes of prediction markets traders, Elon Musk is hurting himself in the trial against OpenAI.
The multibillion-dollar lawsuit against OpenAI went to trial on April 27 in federal court in Oakland, Calif. The day after proceedings started, Kalshi traders were calling for a 60% likelihood Musk would win the case. Those odds dropped to just under 34% on May 2, two days after Musk concluded his testimony.
Eric Zitzewitz, professor of economics at Dartmouth College, said the odds against Musk winning are “not enormous” but suggested that the “market reacted” to how headlines and news are covering the trial.
Musk’s testimony spread over three days and wrapped up on April 30. The billionaire accused OpenAI CEO Sam Altman and the company’s president Greg Brockman of trying to ″steal a charity.”
“I came up with the idea, the name, recruited the key people, taught them everything I know, provided all the initial funding,” he said.
