Odaily Planet Daily report: According to Bloomberg on Wednesday, major U.S. prime brokers are working to provide hedge fund clients with access to the prediction market platform Kalshi. Clear Street, valued at over $12 billion, is expected to settle its first Kalshi transaction by the end of March; subsequently, Marex Group, valued at approximately $2.6 billion, plans to follow suit in the coming months.
Thomas Texier, Global Head of Settlement at Marex, said that large financial institutions have strong demand for prediction markets, not only to generate returns but also to use them as tools for hedging their positions. Tarek Mansour, CEO of Kalshi, noted that prediction markets are becoming a core pillar of the financial ecosystem, with billions of dollars flowing through them weekly. While institutional adoption is accelerating, Ed Tilly, CEO of Clear Street, emphasized that the company will proceed cautiously due to ongoing regulatory debates among U.S. state regulators regarding the classification of sports markets and risks of insider trading. (Cointelegraph)