Prediction markets are now ‘bespoke insurance’ for businesses, and a Los Angeles restaurant group’s $60,000 hedge on Kalshi is the latest example

One Los Angeles restaurant group traded $60,000 on Kalshi to hedge against the Dodgers’ abbreviated playoff run, and it’s just one example of how prediction markets are transforming how companies, particularly small businesses, are calculating and responding to risks. Kalshi told Fortune that the hospitality group, which was unnamed but operates 25 bars, including several near Dodger Stadium, made the trade on the platform if the city’s MLB team did not advance to the World Series. The Dodgers lost in the NLCS to the Milwaukee Brewers last week,…