Quant giant Hudson River Trading enters Kalshi, Wall Street capital accelerates push into prediction markets

Odaily reports: Wall Street market maker and quantitative trading giant Hudson River Trading (HRT) has begun trading on the prediction market platform Kalshi, becoming one of the institutional trading firms to enter the prediction market space after Jump Trading and Susquehanna International Group.

People familiar with the matter said HRT began trading on Kalshi about a month ago, with the business currently handled by its futures team, primarily participating in the platform's "Up-Down Markets," namely contracts settled based on whether an asset's price rises or falls over a short period of time. It has not yet ventured into sports and other non-financial event contracts. In addition, HRT is also one of the investors in Kalshi's latest $1 billion funding round, which valued Kalshi at $40 billion. (Bloomberg)