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OAKLAND PARK, Fla. (Gambling911.com) - The prediction market Kalshi was quick to open betting markets on Friday's USA airline meltdown. The FAA ground stop is the worst we've seen since 9-11.
Some $4 million was bet on when the ground stop would be lifted with greater than $330,000 traded on what caused the debacle, that has left millions stranded.
Traders were giving Software/config error at 76% chance. L3Harris was also given a 75% chance.
Secretary of Homeland Security Markwayne Mullin had not ruled out a cyber attack during a press conference at 8:30 pm EDT. He did confirm that the situation Friday did not have anything to do with a Microsoft outage that took place on Thursday.
"All your loved one's are safe and we are hoping to resolve the issue and have operations up normal at some point," Mullin stated.
The Federal Aviation Administration ordered a rare nationwide ground stop at 3:54 p.m. ET Friday, following a major communications failure affecting air traffic control centers across the US.
CBS News reports that an update to a private communications network operated by L3Harris may have triggered a system reboot and failure. That explanation remains under investigation.
Routers got overloaded with data, according to Secretary of Transportation Sean Duffy.
This story is fluid.
- Jagajeet Chiba, Gambling911.com
