NEXTPredict Paid $12,000 to Hedge Its Conference on a Prediction Market
NEXT.io hedged its upcoming prediction-markets conference against severe disruption at JFK, buying Kalshi contracts for a $12,000 premium that could pay about $3 million if more than half of scheduled arrivals are canceled on October 21. The organizer says airport disruption can cause major losses even when an event proceeds, a gap conventional event insurance may not cover. Kalshi created the market for NEXT.io as an institutional customer, with Susquehanna as market maker; retail traders cannot participate, and specified causes such as drone incidents and bomb threats are excluded. The arrangement drew concerns that traders could be incentivized to disrupt flights. NEXT.io and the firms involved present it as a way to transfer business risks that lack conventional coverage.
