Join hosts Michael Barr and Vanessa Perdomo for a look at some of the latest headlines and stories in the business of sports.
Kalshi said it registered over $1 billion in trades related to the Super Bowl, a record surge that underscored the threat that booming prediction markets pose to traditional gambling companies.
The New York-based startup hosted $871 million in trading on Sunday alone, topping its previous busiest single day by 60%, according to estimates by Bank of America.
Along with Polymarket, Kalshi’s main rival, the two leading exchanges saw nearly $1.2 billion in total trading in Sunday, Piper Sandler analysts said in a Tuesday note to clients. That brought the total for last week to $4.8 billion, a 12% increase from the previous week.
The Bank of America team said that along with the Seattle Seahawks, who soundly defeated the New England Patriots, Kalshi was the day’s big winner.
On this episode, hear from:
- Bloomberg News Cross-Asset reporter Denitsa Tskeova on the big day for prediction markets during the Big Game
- Shelly Cayette-Weston, the President of Business Operations for Hornets Sports & Entertainment on her team's stable of young stars and bright future heading into the NBA season's second half
- Mike Carney, the CEO of OnDeck Partners, to discuss his firm's recent purchase of two minor league baseball clubs
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