Vail Resorts' CEO Rob Katz says he won't hedge the weather on prediction markets

Vail Resorts' CEO Rob Katz avoids hedging weather risks in prediction markets due to the complexity of weather patterns, despite a 15% drop in skier visits and 12% declines in ski-school and dining revenue this winter. The company's reluctance contrasts with CFTC Chairman Michael Selig's advocacy for betting platforms like Kalshi and Polymarket. Meanwhile, Vail faces challenges including declining season passes, a labor strike at Park City, and criticism from Cloudflare CEO Matthew Prince.