U.S. investment bank Bernstein published a report evaluating that the prediction market is evolving from a speculation platform for individual investors to an institutional-grade financial product. The report stated, "Institutional investors are attracted to the prediction market. The ability to hedge specific event risks such as tariffs, elections, and geopolitical changes through contracts that are simply decided by a yes/no outcome makes the prediction market attractive." It added, "The first customized institutional block trade (Block Trade, which generally refers to large-scale transactions privately negotiated between institutional investors) recently concluded on Kalshi will serve as an important milestone. The introduction of block trades and customized contracts could expand the participation of institutional investors seeking targeted investments for specific event risks."
