An LA hospitality group runs 25 bars, many of them right by Dodger Stadium. Every extra playoff game means packed bars. An early exit means lost revenue they were counting on.
So they hedged it. They put $60,000 on Kalshi on the Dodgers *not* making the World Series.
The Dodgers lost the NLCS to the Brewers. The position returned nearly 2x, helping cover the playoff business that *never* came.
A Columbia law professor told Fortune it works like โa form of bespoke insurance.โ
Read the full story here: https://t.co/dErQA7mvzK
When expecting people over bout to pour a little glass of red wine, turn on some Brazilian bossa nova, open up a little Dostoevsky and do the whole "aahh you caught me."
My desk is right behind my couch, so sometimes I sit here to feel like Iโm in the nosebleeds. Makes for a grittier gameday experience. Idk @CouldBeTheMove