Kalshi Opens Prediction Contracts on U.S. IPOs and M&A Deals

Event-contract platform Kalshi has begun offering markets that allow users to trade on the outcome of U.S. initial public offerings and mergers and acquisitions. The contracts, introduced on Thursday, mark the first time the regulated prediction exchange has listed instruments tied specifically to corporate deal activity and share listings in the United States. The rollout follows a surge in investor interest in newly listed companies. Graphics-software maker Figma finished its first day of trading 250% above its $33 a share offer price, a jump that left many retail investors unable to secure allocations in the stock. Kalshi says the new contracts give market participants an alternative way to take positions on future IPOs and pending M&A deals as activity in both arenas rebounds.