finance
Kalshi Adds Art Auction Contracts to Prediction Market Platform
Kalshi introduced event contracts tied to art auction prices on Tuesday. The new markets cover individual lot sales and annual records at major houses. Traders can now wager on whether any work exceeds current benchmarks.
May 27, 11:18 AM·1m read1 source
BenzingaAudio version
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Kalshi launched art markets on Tuesday, a new category of event contracts tied to lot sale prices and total realized values at the world's leading auction houses. It is the latest leg of a real-world asset push that already spans luxury watches, Pokemon cards, precious metals and farm commodities. The headline contract asks what the most expensive work sold at auction this year will be.
Traders are pricing a roughly 48% chance the year's top lot clears $300 million and a 47% chance it tops $250 million. 4 million Van Gogh sale was nowhere near a record, which sits at $117 million. One Kalshi contract asks if a Van Gogh will beat that this year, currently trading at 11%, while a Leonardo da Vinci market needs a sale above $450,312,500.
That one sits at just 2%.
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