5 ms·

How do they make money?

• nojito 6mo ago
  Just like other exchanges. They charge trading fees.
  • hilariously 6mo ago
    What about the special partners that put up bets that are basically just methods to launder the fact that there's a house?
  • dymk 6mo ago
    They also place their own bets within their own market. They don't just make money on trading fees.
    • loeg 6mo ago
      Kalshi does not trade against its users.
      • dymk 6mo ago
        That's their PR department talking. https://straighttothepoint.substack.com/p/you-cant-have-it-both-ways https://straighttothepoint.substack.com/p/you-cant-have-it-b... https://www.sportico.com/business/sports-betting/2025/kalshi-trading-exchange-peer-house-1234870465/ https://www.sportico.com/business/sports-betting/2025/kalshi...
      • tantalor 6mo ago
        Kalshi definitely does this They just don't make any money off it.
    • nojito 6mo ago
      A different entity provides liquidity. There’s no house like in sportsbooks.
      • jeltz 6mo ago
        And there is no house in pool betting, poker or backgammon either. We still count all of them including betting exchanges (what has now been rebranded as prediction markets) are still normally regulated as gambling.
        • nojito 6mo ago
          Not in the US.
          • tsimionescu 6mo ago
            Is there any state that allows organized poker tournaments, but not gambling or sports betting?
    • usefulcat 6mo ago
      Sounds like a glaringly obvious conflict of interest?
      • CyberDildonics 6mo ago
        Of course it is, people will do whatever they can get away with.
      • msandford 6mo ago
        Be careful, the market makers always win. If you go against them, you make yourself a target.