Susquehanna

A goat herding business facing higher wage costs turned to the prediction market platform Kalshi. This move utilizes Susquehanna's help to hedge and offset possible expenses related to a change in California law.

Robinhood reported record Q2 revenue of $1.31 billion, driven by growth in its Gold subscription service and prediction market business, which saw volume surge to 13 billion contracts. The company shifted to lower-fee in-house solutions for prediction markets and noted a 38% decline in cryptocurrency revenue due to market slumps.

Kalshi has reintroduced a flight cancellation betting contract for New York’s John F. Kennedy airport on October 22-23, offering institutional users a Yes/No wager on whether over 50% of flights will be canceled. The contract, created at the request of conference organizer NEXTPredict, includes excluded events like bomb threats and cyberattacks, and is backed by market maker Susquehanna with a $3 million payout if triggered.

The US Securities and Exchange Commission is investigating alleged insider trades that have negatively impacted Susquehanna. The probe focuses on trading activities that caused harm to the firm.

Susquehanna is developing a prediction market business, as discussed in an Odd Lots article. The initiative focuses on creating a platform for forecasting outcomes through market mechanisms.

A top-tier Spanish soccer team used Kalshi, a prediction market platform, to place a multimillion-dollar bet against itself to avoid relegation. The team won its final game, retaining its La Liga status, while Susquehanna, a quant trading firm, profited over $1 million from the bet. The trade involved intermediaries like Game Point Capital and Greenlight Commodities, highlighting prediction markets' growing role in institutional risk management.