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Prediction markets are becoming sports' new insurance policy for businesses hedging event risk
- Prediction markets are becoming sports' new insurance policy for businesses hedging event risk — Businesses are using prediction markets to offset event-linked losses, including a New York bar that turned a 5,000 dollar Kalshi Knicks trade into 13,500 dollars to cover a promotion and an insurer making five Kalshi trades that could generate 3 million dollars against LSU coaching bonuses. A Los Angeles ice cream shop also reportedly earned up to 1,500 dollars trading Kalshi temperature markets. (EssentiallySports)
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