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The Nexus
BUSINESSJun 2 · 17:46 UTCSEMAFORLiz Hoffman

Hedging a $15,000 New York Knicks bar tab on Kalshi

Andrew Freedman, owner of The Jeffrey, bet $5,000 on Kalshi to hedge potential losses from a free-drinks promotion tied to the New York Knicks winning the NBA Finals. Kalshi suggested the hedge after a prior promotion cost Freedman $3,700, and crypto firm Galaxy Digital separately made a $10 million wager on Kalshi.

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Andrew FreedmanpersonThe JeffreyorganizationKalshiorganizationNew York KnicksorganizationNBA FinalstopicGalaxy DigitalorganizationUniversity of MichiganorganizationOhio Stateorganization
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