Betting Market Heats Up Over Room-Temperature Superconductor: Is The Korean Claim For Real?

Researchers in Korea have announced the discovery of a "room-temperature superconductor," known as LK-99, a technology that could potentially produce frictionless energy and transform society by offering limitless clean energy.

This claim by the Korean group has sparked a heated debate among scientists, with many questioning the legitimacy of the discovery.

The controversy over the legitimacy of the discovery has taken a twist, as people can now place bets on whether the technology is genuine or not.

Polymarket is a website that allows users to bet on essentially anything, including who will win the presidential election and whether the U.S. will confirm that aliens exist. One of Polymarket's most popular wagers over the last week centers on the question, "Is The Room-Temp Superconductor Real?"

Read Also: What's Going On With American Superconductor Stock?

More than $1 million has been bet on the question, according to Polymarket. Shares of “Yes” are trading at around 34 cents on the dollar, meaning that “No, the superconductor is not real” is the favorite. But, shares of “Yes” have been trending higher throughout the last couple of weeks. When the market opened, “Yes” shares were trading at around 17 cents per share, meaning that the “Yes” shares are up almost 100% throughout the last two weeks. 

History Of Superconductors:

Superconductors operate by conducting an electric current with zero resistance while throwing off magnetic fields. If legitimate, the technology can be used to create clean energy without the use of wind, solar or hydrogen.

But, there have been scientists in the past claiming to have discovered a room-temp superconductor, and the technology has never panned out. This explains why there is so much skepticism surrounding the Korean group’s claims. 

Shares of American Superconductor Corporation AMSC are gained about 66% over the last month on news of the potential superconductor. Other stocks, like zinc and lead miners, could benefit if the technology ends up being real as well. 

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