Kalshi files hedging plan with CFTC after Super Bowl record

What’s confirmed: Kalshi CFTC filing and Game Point hedging rebates

Kalshi’s latest submission to the Commodity Futures Trading Commission formalizes a sportsbook-facing rebate program tied to hedging flows. As reported by Pechanga.net, the filing provides rebates on taker fees (and related charges) when orders used for hedging exceed 300,000 event contracts.

The same report states that Game Point Capital, a risk-transfer firm serving athletics stakeholders, plans to route roughly $30 million of annual hedging through Kalshi. What is confirmed is the parameters in the CFTC filing and Game Point’s stated hedging intent; broader commercial terms beyond the filing have not been disclosed publicly.

Why it matters: how sportsbooks hedge via Kalshi, rebate thresholds

Sportsbooks can offset exposure by taking positions in CFTC-regulated event contracts that mirror liabilities from their betting books. By placing offsetting buys or sells on Kalshi, an operator reduces net outcome risk, turning uncertain payouts into a clearer cost of hedging.

The rebate threshold, orders above 300,000 event contracts, lowers effective transaction costs at scale and could make external hedging economical when internal risk rooms face concentrated liabilities. In practice, this may encourage routing larger, time-sensitive hedges to Kalshi during peak events, while routine, smaller imbalances remain managed in-house.

Immediate impact: Super Bowl trading volume and platform effects

As reported by National Today, Kalshi processed more than $1 billion of trading tied to Super Bowl Sunday, with figures implying a sharp year-over-year increase from the prior championship cycle. The scale suggests that high-profile events can concentrate liquidity on regulated prediction venues, making external hedging more feasible precisely when risk is most acute.

Ahead of that surge, the company emphasized product-driven pull rather than advertising. After noting its performance around the game, Tarek Mansour, CEO of Kalshi, said, “We became the biggest brand of the Super Bowl this year … by product.”

At the time of this writing, DraftKings Inc. (DKNG) closed at $27.42 (-0.33%) and traded at $27.54 after hours, based on data from Yahoo Finance. This market context does not imply causation with prediction-market activity but frames how publicly listed sportsbooks are trading amid heightened attention to hedging and liquidity.

MLB integrity context: potential prediction market partnerships

According to DeFi Rate, Major League Baseball is evaluating potential collaborations with prediction markets, including Kalshi and Polymarket, as an integrity tool in the wake of betting-related scandals. The concept is to use transparent, continuously priced markets as an additional surveillance signal to complement existing compliance and investigations.

If adopted, such arrangements would likely prioritize data access, monitoring workflows, and guardrails over any consumer wagering tie-ins. The approach would be additive to league compliance and does not, on its own, alter state sportsbook regulation or CFTC oversight of event contracts.