THE ANGLE
The market has completely lost its mind on Kimi Antonelli. At 38% implied probability, he's being priced like a seasoned champion at his strongest circuit, not a rookie leading by seven points after four races. Yes, Mercedes looks dominant this year with 143 constructor points to Ferrari's 98, but Miami's recent history screams McLaren territory. The Papaya cars have won here two years running, with both victories coming from mid-grid starting positions. Piastri won from P4 last year, Norris from P5 in 2024. This circuit rewards race craft over qualifying pace, and while Antonelli has been impressive, he's still learning race management at this level. The market is pricing sentiment over substance. Verstappen at 24% looks like the sharp money, especially considering his 2022-2023 Miami wins both came from outside the top three on the grid. When the lights go out and wheel-to-wheel combat begins, experience trumps early season momentum every single time.