Chicago-based trading firm Jump Trading has started creating markets on sports event contracts offered by Kalshi, according to Bloomberg.
Jump Trading has form in the sports betting market, having established a team in London to trade on the sports betting platform Betfair in late 2010, which continued until around 2023.
The firm also invested in sports betting platform Sporttrade, in a blog post reflecting on the deal Jump Trading wrote, “the US sports betting market is ready for a new model that better suits the American bettor.”
Jump Trading isn’t the only financial firm looking towards prediction markets. Cliff Asness, Co-Founder of investment management firm ACQ Capital Management, recently discussed how his firm is considering expanding into the sports betting industry.
