Ed Sheeran's two Gillette Stadium concerts were canceled because of an approaching nor'easter, sending his price on Kalshi's venue performance market plunging.
Kalshi's market for whether Sheeran will perform at Gillette Stadium by the end of the year fell from 96% to 7.4%. The cancellation comes after weeks of controversy surrounding the LOOP Tour following Macklemore's removal over comments supporting Palestinians.
For informational purposes only. Not trading advice. See full disclaimer below.
Gillette Stadium cancellation
The Boston Globe reported that the Messina Touring Group, the promoter of Sheeran’s LOOP Tour, confirmed the venue cancelled the gigs in an Instagram statement.
“Due to the severe weather warnings in place in Boston and across New England throughout the weekend and following consultation with local officials, we have made the difficult decision to cancel the Ed Sheeran concerts at Gillette Stadium,” the statement read. “The decision was made with the safety of fans, staff, and everyone involved in the shows as the top priority.”
Macklemore controversy
The Gillette dates had already been at the center of controversy surrounding Macklemore's removal from the LOOP Tour.
Rolling Stone reported that Macklemore called for a “free Palestine” during Sheeran's MetLife Stadium shows in New Jersey. He was subsequently removed from the remaining LOOP Tour dates after objections from venue owners.
Macklemore posted on his Instagram that Robert Kraft, the owner of the New England Patriots and Gillette Stadium, pressured Sheeran to drop Macklemore from his tour.
“Ed told me that Kraft said I would not be allowed to perform in his stadium,” Macklemore wrote. “Ed also told me that Kraft had rallied some of the other stadium owners and collectively they gave him an ultimatum: if Macklemore stays on the tour, you will not be allowed to play in our venues.”
Kraft confirmed in a statement that he decided to bar Macklemore from Gillette Stadium based on “recent actions, material shared from the stage during Ed Sheeran’s shows in New Jersey, and a broader history of antisemitic rhetoric and imagery that we believe has been deeply offensive and hurtful to the Jewish community.”
The Guardian reported that Sheeran's remaining supporting acts and touring band subsequently withdrew from upcoming dates in solidarity with Macklemore. Sheeran said venue owners had pressured the tour's promoter to remove Macklemore and that he had tried unsuccessfully to mediate the dispute.
Finneas, one of the artists who withdrew from the tour, publicly supported Macklemore's decision to speak out.
“Artists must not be silenced when they speak up for the oppressed,” Finneas wrote.
Sheeran show cancellations
The Gillette Stadium show may not be the only show on Sheeran’s LOOP Tour that faces cancellation.
Kalshi's LOOP Tour cancellation market shows at least two tour dates have already been confirmed canceled, and traders are now pricing a 24% chance of a third cancellation.
The takeaway:
Kalshi markets now predict
Follow Danny Gallagher on Instagram: @writerdannygallagher
Follow Kalshi on X: @Kalshi | Image Source: Harald Krichel
The opinions and perspectives presented in this article belong solely to the author. This is not financial advice and does not constitute an offer, solicitation, or recommendation to trade any specific product. Information is provided for convenience only on an "AS IS" basis. Past performance is not necessarily indicative of future results. 18+ only. Restrictions and eligibility requirements apply. Trading event contracts and trading leveraged products, including perpetual futures, involves significant risk and is not appropriate for everyone. Please carefully consider if it is appropriate for you in light of your personal financial circumstances. Kalshi products are not available in all jurisdictions. See kalshi.com/regulatory for more information. Kalshi is subject to U.S. regulatory oversight by the CFTC.
