Kalshi opened two markets on the NCAA’s $2.8 billion back-pay settlement with college athletes after Grand Teton Systems, a firm that has acquired roughly $400 million of athletes’ claims, asked for a way to hedge, according to The Information. One market asks whether female athletes end up with a larger portion of the money and the other asks when payments will begin, questions left open since women athletes challenged the settlement and froze the payouts. Kalshi listed both about three days after Grand Teton co-founder Louis d’Origny asked, but they’ve drawn little volume, and Grand Teton hasn’t traded them yet. Kalshi says 500 institutional customers made up about 25% of its trading volume as of September, but sports still account for about 90%.
