Source: Decrypt
Published by source: Oct 12, 2026, 04:01 PM UTC
NEXTPredict organizers paid a $12,000 premium to hedge their October 2026 conference on a prediction market, securing up to $3 million in coverage if over half of JFK flights are canceled the day before the event. The trade, executed via Kalshi with Susquehanna as market maker, is described as a first in the event industry.
The organizers of NEXTPredict's October 22-23, 2026 conference in New York hedged their event by purchasing contracts on the Kalshi prediction market, paying a $12,000 premium for coverage that would pay out approximately $3 million if more than half of flights scheduled to land at JFK Airport are canceled on October 21. This threshold was chosen as a proxy for major disruption, according to Pierre Lindh, co-founder of NEXT.io, who cited past experiences with event losses due to unforeseen disruptions. The contracts, built to order for NEXT.io and not available to retail traders, were self-certified with the Commodity Futures Trading Commission in July 2026. Lindh contrasted this approach with traditional event insurance, which he said often fails to cover financial losses unless the event is fully canceled, and described the prediction market hedge as a new tool for managing institutional risk in the events industry.