{"id":216476,"date":"2022-06-08T17:00:50","date_gmt":"2022-06-09T00:00:50","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=216476"},"modified":"2022-06-09T13:30:14","modified_gmt":"2022-06-09T20:30:14","slug":"kalshi-lets-exchange-traders-predict-price-of-gas-other-economic-indicators","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/kalshi-lets-exchange-traders-predict-price-of-gas-other-economic-indicators\/","title":{"rendered":"Kalshi Lets Exchange Traders Predict Price of Gas, Eyes New Event Outcome Trading Market"},"content":{"rendered":"

As gas prices continue soaring to record high prices daily, it may be hard for many Americans to figure out how they can beat the pain at the pump. One website, however, is offering people a chance to profit from the situation.<\/p>\n

\"Gas<\/a>
A Circle K sign shows the price of gas and diesel at the Louisville, Ky., convenience store. Kalshi, an online financial exchange, is offering a market that allows people to predict what the average cost of gas will be this week. (Image: Casino.org)<\/figcaption><\/figure>\n

Kalshi is an online exchange that offers trading on event outcomes. The concept is similar to PredictIt<\/a>, the political exchange. While the two sites have some markets that overlap, Kalshi\u2019s offerings cover more than just government and politics and include financial markets, weather, and economics.<\/p>\n

This is where the price of gas<\/a> comes into play.<\/p>\n

One of the current opportunities Kalshi is offering is the chance to guess what the average gas price will be for this week, using data from the US Energy Information Administration (EIA). The agency is scheduled to post the average price for this week on Monday, June 13.<\/p>\n

The ‘New’ New York Stock Exchange<\/h2>\n

There are six options on Kalshi, ranging from more than $4.75 to more than $5.00, and each option offers two-way yes-or-no action.<\/p>\n

Traders buy shares at market value on the outcome they expect. If they\u2019re correct, they get a dollar for each share. So if the trader bought 100 shares at 50 cents each, they would double their money.<\/strong><\/p>\n

In a recent blog post on the trading site, Kalshi\u2019s leaders said they were \u201cbuilding the New York Stock Exchange of events.\u201d The US Commodity Futures Trading Commission, a federal regulatory agency, approved Kalshi to operate as an exchange in November 2020, and last July, the company launched online.<\/p>\n

\n

From the onset, Kalshi\u2019s mission has always been clear: allow people and businesses to mitigate and take control of risks that relate to them,\u201d the blog post stated. \u201cFinancial firms and banks have designed complex, indirect products to allow large institutions to get or hedge exposure to events, a deeply powerful tool. The question we asked: why shouldn\u2019t everyone have access to this?\u201d<\/p>\n<\/blockquote>\n

By Wednesday afternoon, trading volume has surpassed $12,000 on this week\u2019s gas price market. Other markets have more substantial trading. One market on whether the US will enter into a recession by the end of the second quarter of this year has generated a handle in excess of $455,000.<\/p>\n

Kalshi Backed By $30M Investment<\/h2>\n

Kalshi was founded by Tarek Mansour and Luana Lopes Lara in 2018. They saw a market for event outcome trading after researching such products for institutional investors at Goldman Sachs and Citadel.<\/p>\n

In February 2021, Kalshi\u2019s founders secured $30 million in Series A funding. Among those involved included Charles Schwab, chairman, and founder of the eponymous discount brokerage.<\/strong><\/p>\n

At the time of that announcement, Mansour said \u201cmarkets for information\u201d would be as valuable as markets for traditional investments, such as oil and farm crops.<\/p>\n

\u201cThese contracts will become a powerful instrument in the modern investor\u2019s toolkit,\u201d he said.<\/p>\n

Gas Prices Show No Signs of Dropping<\/h2>\n

Gas prices continued to go up across the country. On Wednesday, AAA reported the national average for a gallon of regular unleaded was $4.955, up from Tuesday\u2019s average of $4.919. Last week, consumers were paying $4.671.<\/p>\n

As of Monday, the EIA \u2013 the agency Kalshi uses to grade its gas price market \u2013 listed the average retail gas price at $4.876 for last week, up more than a quarter from the previous week.<\/p>\n","protected":false},"excerpt":{"rendered":"

As gas prices continue soaring to record high prices daily, it may be hard for many Americans to figure out how they can beat the pain at the pump. One website, however, is offering people a chance to profit from the situation. Kalshi is an online exchange that offers trading on event outcomes. The concept […]<\/p>\n","protected":false},"author":45,"featured_media":216477,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,16693],"tags":[],"acf":[],"yoast_head":"\nKalshi Lets Traders Predict Price of Gas, Other Economic Indicators<\/title>\n<meta name=\"description\" content=\"Traders at Kalshi can buy shares on what they believe the average gas price will be when the US government reports it on Monday.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/kalshi-lets-exchange-traders-predict-price-of-gas-other-economic-indicators\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kalshi Lets Traders Predict Price of Gas, Other Economic Indicators\" \/>\n<meta property=\"og:description\" content=\"Traders at Kalshi can buy shares on what they believe the average gas price will be when the US government reports it on Monday.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/kalshi-lets-exchange-traders-predict-price-of-gas-other-economic-indicators\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-09T00:00:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-09T20:30:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/20220608_182912.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2500\" \/>\n\t<meta property=\"og:image:height\" content=\"1500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Bittenbender\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Bittenbender\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/kalshi-lets-exchange-traders-predict-price-of-gas-other-economic-indicators\/\",\"url\":\"https:\/\/www.casino.org\/news\/kalshi-lets-exchange-traders-predict-price-of-gas-other-economic-indicators\/\",\"name\":\"Kalshi Lets Traders Predict Price of Gas, Other Economic Indicators\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/kalshi-lets-exchange-traders-predict-price-of-gas-other-economic-indicators\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/kalshi-lets-exchange-traders-predict-price-of-gas-other-economic-indicators\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/20220608_182912.jpg\",\"datePublished\":\"2022-06-09T00:00:50+00:00\",\"dateModified\":\"2022-06-09T20:30:14+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/eb30e765d812fc9b38b333f8d13068b2\"},\"description\":\"Traders at Kalshi can buy shares on what they believe the average gas price will be when the US government reports it on Monday.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/kalshi-lets-exchange-traders-predict-price-of-gas-other-economic-indicators\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/kalshi-lets-exchange-traders-predict-price-of-gas-other-economic-indicators\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/kalshi-lets-exchange-traders-predict-price-of-gas-other-economic-indicators\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/20220608_182912.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/20220608_182912.jpg\",\"width\":2500,\"height\":1500,\"caption\":\"A Circle K sign shows the price of gas and diesel at the Louisville, Ky., convenience store. 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