Kalshi recruits TradFi partners for institutional build-out
The prediction market has inked partnerships with Tradeweb, BMLL, and others as it aims to give institutions familiarity with an emerging market.
Before prediction markets standardized wagers on current news, colleagues placed simple office bets.
Andy Ross remembers skeptical friends who said the UK’s proposed exit from the European Union, dubbed Brexit, would never happen. Others told him to short the FTSE 100. Then Brexit happened, and the FTSE went up.
“That’s not a great hedge,” Ross thought. These days, he’s building a new kind of hedging engine.
Ross joined Kalshi, one of the biggest prediction markets, this past March. It is his first
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