Zohran Mamdani made city-operated grocery stores a key pledge of his campaign for mayor of New York City. So when one company seemed to muscle in on the idea this week, apparently as a PR stunt, Mamdani was quick to reply.
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.
Mamdani’s response was to post an often-quoted headline from the satirical news website Clickhole: “Heartbreaking: the worst person you know just made a great point.”
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. According to the New York state comptroller’s office, food costs rose 65.8% between 2013 and 2023 in the city, which outpaces the rate of broader inflation.
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.
Chicago’s mayor, Brandon Johnson, previously pushed forward a similar plan, though his administration has recently walked back the initiative in favor of a year-round public market, according to the Chicago Tribune.
Polymarket has been criticized for the way in which users have apparently been able to make millions betting on war strikes and diplomatic strategy that they might have had inside knowledge of in advance.
Kalshi, a competitor to Polymarket, pulled a similar food stunt on 3 February. The company took over Westside Market, a grocery store in New York City’s East Village, offering shoppers up to $50 worth of free groceries.
The mayor’s office and Polymarket have been approached for comment.
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