Gamblers Not Optimistic That East Coast Port Strike Ends This Week

Gamblers do not expect an East Coast port strike to end by this coming Friday October 4.

14% of those betting this market believe this will happen, though only $8400 has been wagered thus far at Polymarket. 

Dockworkers at ports from Maine to Texas began walking picket lines early Tuesday in a strike over wages and automation that could reignite inflation and cause shortages of goods if it goes on more than a few weeks.

The contract between the ports and about 45,000 members of the International Longshoremen’s Association expired at midnight, and even though progress was reported in talks on Monday, the workers went on strike. The strike affecting 36 ports is the first by the union since 1977.

Workers began picketing at the Port of Philadelphia shortly after midnight, walking in a circle at a rail crossing outside the port and chanting “No work without a fair contract.”

Video clips posted by social media users on X and Facebook showed people rushing to buy water, toilet paper, paper towels and other items at supermarkets and retailers across the U.S, though we personally didn't see any of this at our local Publix Wednesday morning. The toilet paper aisle was fully stocked. 

“Are people already panic buying because of the Port Strike? Here are the grocery shelves in the water section at my local Kroger this morning. I realize that we are probably also low on water due to the Helene aftermath in East Tennessee, but still not great to see this already,” photographer and author Denise Van Patten posted in a social media video clip on X.

Video clips posted by social media users on X and Facebook showed people rushing to buy water, toilet paper, paper towels and other items at supermarkets and retailers across the U.S, though we personally didn't see any of this at our local Publix.

Are people already panic buying because of the Port Strike? Here are the grocery shelves in the water section at my local Kroger this morning. I realize that we are probably also low on water due to the Helene aftermath in East Tennessee, but still not great to see this already… pic.twitter.com/bxP0QgygnC

— Denise Van Patten (@DeeVP) October 1, 2024

Some suggested the empty shelves shown on Twitter may have more to do with Hurricane Helene than anything else however.

The union had message boards on the side of a truck reading: “Automation Hurts Families: ILA Stands For Job Protection.”

This market will resolve to "Yes" if the ongoing International Longshoremen's Association (ILA) strike ends by October 4, 2024, 11:59 PM ET. Otherwise, this market will resolve to "No".

The primary resolution source for this market will be official information from the ILA , however a consensus of credible reporting will also be used.