Pietro Parolin leads betting odds for next pope amid conclave chaos

In Italy, the papal conclave began on Wednesday at the Sistine Chapel, where cardinals are voting to select the next pope following the tenure of Pope Francis. With millions wagered on who will take the papal position, betting sites like Polymarket and Kalshi have identified Pietro Parolin, the Vatican secretary of state, as the leading candidate with odds of 31% and 32% respectively. Despite being the favorite, experts indicate that accurately predicting the next pope is challenging due to the diverse backgrounds and perspectives of the cardinals participating in this conclave, which has seen an influx of over 100 cardinals from underrepresented countries. Cardinal Luis Antonio Tagle from the Philippines follows closely behind Parolin in the betting odds, while other notable candidates include Matteo Zuppi, Pierbattista Pizzaballa, Peter Turkson, and Peter Erdo. The exact duration of the conclave remains uncertain, though previous conclaves usually conclude within two to three days. Upon a vote leading to no majority, black smoke signals this outcome, while white smoke confirms a new pope has been elected, a tradition laden with significance for both the church and observers worldwide. The ongoing wagering and the gathering of locals in Schiavon near Parolin’s hometown illustrate the palpable anticipation surrounding the conclave as participants and bystanders alike hope for a favorable outcome in the selection of the next pope.