NYC Mayor gives $10k to more migrants?
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2024 (+0)
$4,252vol
Order book
Yes
Rules summary
If NYC has expanded its program of prepaid debit cards for migrant families by Dec 31, 2024, then the market resolves to Yes. Outcome verified from City of New York.
Expiration value: YesTimeline and payout
About
New York City has initiated a pilot program to provide prepaid debit cards to migrant families, aiming to reduce the costs of feeding migrants and stimulate local businesses. The program, which began on March 26, 2024, initially distributed cards to ten families and is expected to expand to 115 families within a week, with each family of four receiving approximately $350 per week for food and baby supplies. The city has allocated $53 million for the program, which is anticipated to save $7.2 million annually by reducing food waste.
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Decoding the market
Case for By Dec 31, 2024
The $53 million pilot program provides 500 migrant families in short-term hotels with city cash to help them buy food, according to city records. It is designed to replace the current, more expensive food service offered there, according to City Hall. The post also says that if the program is a success, the city will expand it to all migrant families staying in hotels. (2.2.24)
Case for Not by Dec 31, 2024
Since news of the program broke, many outlets, including the NY Post, have raised serious questions about the amount of money being dispersed, as well as the potential for fraud due to lack of proper oversight. Although City Hall has pushed back on much of the criticism, the negative media coverage could make it difficult to expand the program regardless of its actual efficiency or impact. (2.19.24)
