Jason Jiang, a former banker turned artisan ice cream maker in Los Angeles, uses the predictive markets platform Kalshi to offset weather-related losses. He bets $20 per day on cold weather in Southern California, generating up to $1,500 monthly, covering roughly 43% of the shop’s $3,500 monthly rent. The boutique loses about 20% of its revenue when temperatures drop below 21°C. Founded in 2021 by two MIT graduates, Kalshi claims over 5 million monthly active users and is reportedly valued at $40 billion.
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