Cantor Fitzgerald to Offer Kalshi Event-Contract Trading to Institutional Clients
Summary
- U.S. investment bank Cantor Fitzgerald has decided to support event-contract trading on prediction-market platform Kalshi for institutional clients.
- Cantor Fitzgerald will broker large event-contract trades for about 3,000 institutional clients, including hedge funds and family offices, and is also considering a resale model.
- Kalshi is accelerating its push for institutional clients, saying institutional investors already have demand for managing risk tied to specific events separately.
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Cantor Fitzgerald will offer institutional clients access to event-contract trading on prediction-market platform Kalshi.
The Wall Street Journal reported on Aug. 19 that the U.S. investment bank recently decided to support trading on Kalshi for about 3,000 institutional clients, including hedge funds and family offices.
Cantor Fitzgerald will act as a broker for large event-contract trades by those clients. The firm is also considering reselling contracts it secures through discussions with clients to other investors.
Institutional clients may also propose event-contract topics themselves if needed. Cantor Fitzgerald has been holding discussions to identify the types of contracts investors want.
"The dozens of investors we met were highly eager to enter prediction markets," Pascal Bandelier, co-chief executive officer of Cantor Fitzgerald, said.
Kalshi has recently stepped up its push to attract institutional clients. "Institutional investors already have demand for ways to manage risk tied to specific events separately," Max Crowley, Kalshi's vice president of business development, said.
