Polymarket's prediction market for the next Pope has surpassed $6.4 million in total bets today. The increase was spurred by a widespread hoax falsely suggesting that the Catholic Church was planning to excommunicate individuals participating in gambling.

The deceptive message, shared on X by an account with a large following, attempted to imitate an official Church communication. Despite condemning platforms like Polymarket for treating the papal election as a financial rather than spiritual matter, the post was quickly debunked. Its informal tone, lack of proper capitalization of key terms, and unusual direct mention of Polymarket made its inauthenticity evident.

Although the misinformation exposed internal data from Polymarket, indicating a surge in wagers on the next Pope, the platform's market had actually been established in February ahead of Pope Francis' recent passing. Despite the hoax creating a stir, it is unlikely that Church leaders are engaged with Polymarket during this critical period of electing a new Pope.

The interest in betting on the papal succession has notably increased, with trading volume rising by about 160% within three days of the Conclave's commencement. This surge in activity highlights the merging of global religion with decentralized speculation, as demonstrated by the active "Next Pope" market on Polymarket.

The growing participation on Polymarket and other crypto platforms underscores a broader trend where these spaces are now facilitating real-time speculation on significant political, cultural, and religious events. Although the Catholic Church has not actively embraced the crypto world, the heightened engagement with platforms like Polymarket signifies the evolving landscape where digital markets mirror and intensify public discussions.