Wall Street firms push to enter Kalshi event betting market

Wall Street hedge funds and other institutional investors are moving to offer clients services for the decentralized prediction market Kalshi, Bloomberg reported. Clear Street, a brokerage firm for hedge funds and professional traders, is scheduled to clear its first trade on Kalshi later this month and plans to expand its client service offerings by the end of the year. London-based brokerage firm Marex Group also plans to offer clients Kalshi-related services in the coming months.