Cantor Fitzgerald opens Kalshi access to institutional hedge funds

Cantor Fitzgerald has begun allowing hedge funds to place large positions on Kalshi's prediction markets, according to the Wall Street Journal, marking the first time a major Wall Street prime broker has built direct institutional access to the platform.

The arrangement lets hedge funds route capital through Cantor's infrastructure rather than trading directly on Kalshi, giving institutional players the position sizing and execution workflows they require. It is a structurally different kind of participation than retail or high-net-worth trading — the funds involved operate at scale that retail market design was not built to absorb.

The development lands as Kalshi fights regulatory enforcement actions in multiple states. Institutional capital flowing through a recognised Wall Street intermediary does not resolve those legal questions, but it changes the political and commercial context around them. Regulators weighing enforcement against a platform used mainly by retail traders are doing a different calculation than regulators weighing enforcement against a platform wired into prime brokerage infrastructure.