Cantor Fitzgerald opens prediction market block trading for institutions
Cantor Fitzgerald has launched institutional block trading for event contracts, allowing large clients to execute sizable trades on regulated prediction markets. The Wall Street broker-dealer is targeting hedge funds and asset managers rather than retail participants. The service arrives as institutional infrastructure for event contracts consolidates around a few trading gateways. Cantor did not name specific venue partners or disclose fee terms.
Cantor Fitzgerald now runs two distinct institutional prediction market channels: a Kalshi-specific desk via Susquehanna and a broader block-trading service. That dual structure forces competing venues like Kalshi and OG.com to fight for the same limited pool of institutional clients. Hedge funds and prop shops will not maintain redundant integrations, so the exchange that delivers stronger execution quality and contract breadth through Cantor's infrastructure will capture the larger share.
Susquehanna's role as flagship market maker on the Kalshi desk means Kalshi's institutional fate partly rides on one trading firm's commitment depth. The Q4 2026 launch window gives both venues less than two quarters to prove volume before Cantor's clients pick a preferred pipe. A lopsided flow split would signal which exchange has won the institutional narrative and which faces a costlier direct-retail path.