Cliff Asness Says AQR Is Exploring a Push Into Sports Betting

Cliff Asness, the billionaire co-founder and chief investment officer of AQR Capital Management, said the hedge fund is weighing an expansion into sports betting, potentially becoming the latest Wall Street firm to move into the booming business.

“This is incipient for us,” Asness said on an episode of the Odd Lots podcast recorded as part of the show’s 10-year anniversary celebrations. “We are considering and looking at it.”

Interest in sports betting on Wall Street has been booming recently as prediction markets such as Kalshi Inc. and Polymarket have created regulated financial contracts tied to the outcomes of ...