Kalshi Launches Art Auction Bets as Platform Tops Tens of Billions in Trading Volume
Updated
Updated · Artforum · May 28
Kalshi Launches Art Auction Bets as Platform Tops Tens of Billions in Trading Volume
3 articles · Updated · Artforum · May 28
Summary
Kalshi has added an “art markets” category that lets users wager on individual auction results and total auction profits, with contracts already tied to Basquiat and Modigliani sales.
The company says the move gives collectors a way to hedge exposure in a market it calls one of the world’s largest and least liquid asset classes, extending products it recently rolled out for luxury watches and precious metals.
Christie’s said its employee rules on bidding and confidential information would also bar involvement in prediction markets, after ARTnews asked whether the new contracts could create insider-trading risks.
Kalshi’s expansion comes as the platform, approved in 2020, has processed tens of billions of dollars in volume and pushed further into politics and media, even as addiction experts warn about risks for younger users.