Exclusive: Kalshi partners with U.S. Hispanic Chamber of Commerce
Add Axios as your preferred source to
see more of our stories on Google.
Illustration: Sarah Grillo/Axios. Stock: Getty Images
Kalshi is partnering with the U.S. Hispanic Chamber of Commerce to provide training and resources on risk management to entrepreneurs as they dabble in prediction markets.
Why it matters: Small businesses are beginning to experiment with prediction markets, even as critics say that the spread of tools like Kalshi and Polymarket amounts to an expansion of gambling.
Zoom in: With more than 5 million Hispanic businesses and 260+ local chambers and business associations under its wing, the USHCC is coordinating with Kalshi to provide educational opportunities to its members.
- "This is right up our alley," USHCC CEO Ramiro Cavazos tells Axios in an interview. "A lot of Latino families in general — they're good at saving money … but they may not be able to use and access all the financial tools that are available."
State of play: Kalshi has pointed to real-world examples of small business hedging — like ice cream shops betting on bad weather — as an example of how their tools can be used by entrepreneurs.
- "Small business has so many things to think about, and it's our job to help streamline the process as much as possible so they can understand how it can be helpful," Kalshi COO and co-founder Luana Lopes Lara said in an interview.
- "Also we want to learn from them, so we can (make) more and more products that are actually very good for them."
Follow the money: Lopes Lara said hedging could become a significant part of the prediction market's business.
- She said Kalshi "needed a baseline of liquidity to be able to serve these hedges," but now that its business has grown exponentially, it's able to do that efficiently.
Yes but: About 80% of Kalshi's trading volume since July 2024 has been on sports, making small business hedging a small part of its business.
- Cavazos said concerns about the rise of gambling culture are "something to be aware of" and "manage," but "I know we can do that together as a community."
