LA restaurant group's $60,000 Kalshi hedge shows prediction markets becoming 'bespoke insurance'
joecole · x · 2026-10-21
- An LA hospitality group operating 25 bars near Dodger Stadium put $60,000 on Kalshi betting the Dodgers would miss the World Series, hedging against lost playoff business.
- The Dodgers lost the NLCS to the Brewers; the position returned nearly 2x, covering the revenue shortfall.
- A Columbia law professor told Fortune it works like "a form of bespoke insurance," highlighting how small businesses are adopting prediction markets for risk management.
More from Venture
- AI community clashes over whether open-sourcing frontier models has any PMF at all — teortaxesTex · 2026-10-21
- 'Cockroach stocks': why bear-market innovators like Anthropic win long-term — menhguin · 2026-10-21
- Why improving margins, not revenue, are the real signal in AI lab earnings — menhguin · 2026-10-21
- Ant posts ~$0.7B operating loss in H1, and that's before Opus 5.5 — felpix_ · 2026-10-21
- Simons Foundation partners with Anthropic and OpenAI on grants for Math+AI institutes — windx0303 · 2026-10-21
- ASI raises $325M Series C to build AI that controls critical physical infrastructure — darian314 · 2026-10-21