Kalshi Targets Wall Street Hedge Funds

Andy Ross, the former Standard Chartered Bank executive now leading Kalshi’s institutional efforts, recently likened the platform’s potential to the invention of the eurodollar future. His move signals a calculated effort to move beyond the platform's reputation for novelty bets and establish it as a legitimate venue for sophisticated capital.

While the platform has scaled into a multi-billion-dollar business, it faces a divide between its current user base and the institutional players it now targets. Critics remain skeptical of the transition, questioning if prediction markets can sustain the scrutiny of high-stakes finance. Business Insider will host a live conversation on Tuesday at 1:30 p.m. ET to examine whether this push into institutional trading is a viable evolution or a bridge too far.