Jeff Bandman returns to Kalshi to lead Prime perpetual futures unit
Jeff Bandman is returning to Kalshi as chief executive of Kalshi Prime, the company's CFTC-registered futures commission merchant. Bandman, a derivatives-market executive and former Jeopardy! champion, previously led Kalshi's regulatory and strategic efforts. He will run the prime-services unit as it develops perpetual futures for gold and silver and clears trades for the prediction market exchange. The hire was announced on August 12, 2026.
Kalshi Prime is the exchange's path to institutional capital. Perpetual futures on gold and silver attract hedge funds that will not trade event contracts alone. Bandman's CFTC background means examiners are more likely to approve novel contract categories quickly.
Polymarket is staffing consumer growth roles from Robinhood and Coinbase, while Kalshi bets that institutional volume is stickier and more profitable. Each platform is making a distinct choice about which traders to serve first. Bandman's hire puts Kalshi's regulatory credibility on the product side, not just the marketing side. The NFL season and midterms will test which strategy produces working volume faster.
Bandman's appointment joins a second Kalshi infrastructure investment this month after the Nasdaq surveillance partnership — both moves positioning the exchange to capture institutional flow that rivals are still courting with consumer hires and marketing campaigns.