Kalshi Partners with The Weather Company to Validate Weather Data
The prediction market platform Kalshi has partnered with The Weather Company, which will provide data validation and quality control for Kalshi's weather contracts. Previously, data from the Paris Charles de Gaulle Airport weather station was suspected of being tampered with, highlighting the reliance of such contracts on official measurement data and their potential vulnerabilities. Kalshi's trading volume for weather and climate contracts has grown by 500% year-to-date, with an annualized trading volume expected to reach $1.1 billion. Kalshi states that farmers are using the platform to hedge against agricultural losses caused by heatwaves, and small businesses have reported that it is easier to operate than traditional derivatives and insurance.
-- Price
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