Hudson River Trading has begun trading on Kalshi, adding one of Wall Street’s largest market makers to the institutional firms entering prediction markets. The New York-based firm started transacting on the platform about a month ago, according to people familiar with the matter who asked not to be identified because the information is private.
Hudson River Trading also took part in Kalshi’s latest $1 billion fundraising round. That financing valued the platform at $40 billion. The firm did not respond to a request for comment.
Sources: Bloomberg Markets.