"Polymarket, the cryptocurrency-based prediction market, announced on Tuesday it would be opening New York City's first free grocery store, seemingly a nod to the mayor's signature policy. In a statement the firm said it hoped to empower every New Yorker to achieve food security for good, and that it had donated $1m to the Food Bank for NYC. The eponymous Polymarket store, however, will apparently only run as a temporary pop-up, and despite supposedly opening on 12 February its location has yet to be announced."
"During the campaign Mamdani suggested launching a pilot program of five city-run grocery stores, in an effort to combat the rising cost of groceries. Mamdani proposed the city-owned stores not have to pay rent or overhead taxes, leading to lower consumer prices. They would buy and sell groceries at wholesale prices, centralize warehousing and distribution, and partner with local neighborhoods to source products. His campaign estimated that operating the five stores would cost about $60m annually."
Zohran Mamdani pledged to create city-operated grocery stores to reduce rising grocery costs in New York City. Polymarket announced a temporary free grocery pop-up and donated $1m to the Food Bank for NYC, while the pop-up’s location and permanence remain unclear. Mamdani reposted a satirical Clickhole headline in response. Mamdani’s proposal called for a five-store pilot exempt from rent and overhead taxes, selling groceries at wholesale, centralizing warehousing and partnering with neighborhoods, with an estimated operating cost of about $60m annually. Polymarket faces criticism over users profiting from potentially insider-informed betting on geopolitical events.
Read at www.theguardian.com
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