KEY POINTS
- Cardinal Parolin has been the Vatican Secretary of State for over a decade
- Cardinal Tagle is a Filipino Catholic leader who participated in the conclave that elected Pope Francis
- Some crypto bettors believe a Black Pope would be a 'historical milestone' for the Vatican
The world is closely watching the Vatican following the passing of Pope Francis, and on market prediction platform Polymarket, cryptocurrency bettors are also busy raising the chances of some potential candidates that they believe can take over the pontiff's role.
In a new event contract that has already hit $3.4 million in total bets as of late Monday, several names are already seeing their chances soar, including Pietro Parolin and Luis Antonio Tagle.
The Vatican announced Pope Francis's passing early Monday, saying the Catholic church's leader has returned to his Father's house.
Long-time Vatican State Secretary Leads Polymarket Race
The event contract currently has Parolin in the lead, with 36% odds of being chosen as the next Pope, while Tagle follows behind with 22% chances.
So far, the closest to Tagle and Parolin is Matteo Zuppi, who has 13% odds as of late Monday. All other options on the Polymarket bet have chances below 10% so far.
Who is Cardinal Parolin?
Parolin's name has started popping up in the media in the past day, but he has been the Vatican's Secretary of State for over a decade.
Pope Benedict XVI made Parolin a Bishop back in 2009. It was in mid-2013 when Pope Francis appointed him as the Secretary of State.
Multiple outlets reported that Cardinal Parolin has long been a favorite to potentially succeed Pope Francis.
The Italian cardinal's tenure as a Vatican diplomat and his deep knowledge of how the Vatican operates is one of the main reasons why he is being pegged as a likely successor to Pope Francis.
Who is Cardinal Tagle?
Meanwhile, Parolin isn't the only big name Catholic leader emerging as a contender for the church's leadership.
Cardinal Tagle, who hails from the Philippines, is fast-becoming a likely successor to Pope Francis, due to his name often being tied to liberal Catholic leaders.
Notably, Pope Francis is recognized for his forward-looking views on faith, though at times, his stance has fueled division among the clergy.
He was among the cardinals who participated in the conclave of March 2013, when Francis was elected as Pope Benedict's successor.
Crypto's Interest in Pope
While it's clear that there could be Catholics who are also crypto holders, the comments section of the Polymarket event contract makes it clear that there is interest in the Pope among a growing number of crypto users.
For one, a contract participant said it appears the crypto market may be "undervaluing Tagle by a lot," given his current second place ranking in the bet.
One user said there should have an "other" option since "no new pope is good enough" to replace Francis at this point.
For one user, seeing a Black Pope will be a "historical milestone" for the Catholic faith, especially for people who have said "the Vatican would never change."
Pope Francis alone was a huge deliverer of change at the Vatican, but his successor may be able to carry through with what he left behind – a legacy of deep compassion that, at times, challenged the Catholic church's millennia-old beliefs.
