Prime Brokers Race to Give Wall Street Access to Event Bets (1)

Brokers to hedge funds and other institutional investors are moving to give clients access to Kalshi Inc.’s event bets, a sign of the growing push to open the nascent prediction market industry to Wall Street players.

Clear Street, a broker to hedge funds and sophisticated traders, is expecting to clear its first trade on Kalshi later this month and begin offering it more broadly later this year, the company’s chief executive officer, Ed Tilly, said in an interview on the sidelines of the Futures Industry Association’s annual conference in Boca Raton, Florida.

The London-based broker Marex Group ...