Cantor Fitzgerald offers Wall Street access to Kalshi’s prediction markets

Cantor Fitzgerald is giving Wall Street clients access to Kalshi prediction markets as the event contracts platform looks to expand institutional participation.

The firm will act as an introducing broker to Kalshi and arrange block trades outside the exchange’s main order book, according to a Bloomberg report.

Cantor will also work with Susquehanna International Group to help price transactions. Susquehanna is a prominent market maker across prediction markets including Kalshi.

Joe Grubb, head of business development at Susquehanna Predictions, said institutional risk transfer could become the next major source of growth for prediction markets.

Grubb pointed to customized contracts that allow institutions to hedge broader market risks or risks tied to specific industries, an area he described as underserved by traditional insurance markets.

The move comes as Wall Street shows growing interest in prediction market data. Morgan Stanley strategists said earlier this week that platforms including Kalshi were providing increasingly useful signals around Federal Reserve policy and major US economic data releases.

Cantor joins broker dealers including Clear Street and Marex Group that already provide clients with access to prediction markets.

Bloomberg Intelligence analyst Jackson Gutenplan said greater institutional participation will be important if prediction markets are to distinguish themselves from traditional betting markets.

Cantor was led by Howard Lutnick from 1991 until 2025, when he became US Secretary of Commerce. His son Brandon Lutnick became chairman last year.