Kalshi entered a retail-accessible ETF for the first time after Tema Durable Quality ETF disclosed an 8.4% position in the private prediction-market company.
The move gives ordinary investors indirect exposure to Kalshi, which had been largely limited to venture-capital backers before Thursday.
Tema’s TOLL fund manages about $48 million, making the Kalshi holding a notable allocation within a small but growing corner of ETFs buying private-company stakes.
Kalshi was valued at more than $20 billion by retail bettors, underscoring why access to private names such as Kalshi, Anthropic and SpaceX is drawing interest.
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