With its bid to let Americans wager on elections put on ice by federal watchdogs,
The upstart New York-based derivatives exchange has been quietly laying the groundwork with trading firms and desks for months. The pitch: hedge risk and bet directly on market-moving news like monetary policy, weather shifts and geopolitical outcomes without needing a cocktail of complex, and often costly financial instruments.
Kalshi has thus far marketed itself mostly to the masses, despite the Citadel Securities quant trader pedigrees ...