Kalshi Taps Sports Insurance Market With Game Point Capital Deal as Regulatory Battles Mount

In brief

• Prediction market Kalshi has partnered with Game Point Capital to hedge NBA team performance bonuses at prices nearly half those of traditional reinsurers.
• Sports markets make up more than 80% of Kalshi’s business, which regulators in Massachusetts, Nevada, and Connecticut are now moving to ban.
• Jump Trading took small equity stakes in both Kalshi and Polymarket this week in exchange for market-making liquidity.