Loading...
Market
Will Uber and Lyft be profitable in Minnesota by the end of 2024?
5
Resolution / Starting Odds
Profitable • 50%
Not profitable • 50%
Financial statements and earnings reports from Uber and Lyft
Story
Minnesota Lawmakers Approve 20% Pay Raise for Uber and Lyft Drivers in Statewide Rideshare Deal
May 20, 2024, 03:16 PM
Minnesota lawmakers have reached an agreement to raise the pay rates for Uber and Lyft drivers, ensuring the rideshare companies will continue operating in the state. The deal, announced by Governor Tim Walz and Democratic lawmakers, came after Uber and Lyft threatened to exit Minnesota due to a Minneapolis ordinance that would have required higher pay. The new legislation, which passed the state Legislature, sets a new minimum wage for drivers, resulting in a 20% pay increase. This compromise preempts the Minneapolis measure and is considered the strongest labor protection for rideshare drivers in the nation. The legislation received approval in the Legislature and is part of a broader statewide rideshare policy.
View original story
Similar markets
Increased market share • 50%
No change or decreased market share • 50%
Continued operation • 50%
Cease operation • 50%
Profitability decreases • 33%
Profitability remains stable • 33%
Profitability increases • 33%
Increase in market share • 33%
Market share remains stable • 33%
Decrease in market share • 33%
Improved • 50%
Unchanged/Deteriorated • 50%
0-10% increase • 25%
10-20% increase • 25%
20-30% increase • 25%
More than 30% increase • 25%
Net profit • 25%
Net loss < $50M • 25%
Net loss $50M-$100M • 25%
Net loss > $100M • 25%