# NEXTPredict Arranges $12,000 Hedge for Up to $3 Million in Flight Cancellations By John Kim Canonical URL: https://www.tokenpost.com/news/business/29235 Published: 2026-10-09T20:06:30.000Z Updated: 2026-10-09T20:06:30.000Z Section: Business > The event contracts would return the summit’s cost if more than half of flights scheduled to arrive at JFK on Oct. 21 are canceled. NEXTPredict agreed to pay a $12,000 premium for event contracts that could return up to $3 million if a specified flight-cancellation threshold disrupts its Oct. 22-23 summit, highlighting how prediction markets are being used to manage operational risk. The contracts would return the summit’s cost if more than 50% of flights scheduled to arrive at John F. Kennedy International Airport on Oct. 21, 2026, are canceled. The trade was executed through Kalshi, with Susquehanna acting as market maker. The arrangement covers an airport-wide cancellation threshold rather than individual flights or traveler insurance. Kalshi self-certified the contracts with the Commodity Futures Trading Commission (CFTC) on July 14. Widespread cancellations could reduce attendance and damage the economics of a conference, creating a measurable business risk for organizers. Pierre Lindh, NEXTPredict’s co-founder and managing director, described prediction markets as a potential hedge for that exposure. “Using prediction markets to help hedge that risk could be a godsend for event organizers,” Lindh said. The transaction builds on NEXTPredict’s efforts to expand prediction-market use beyond event speculation. [Morgan Stanley’s involvement in NEXTPredict NYC]() previously highlighted the company’s focus on institutional participation. Kalshi co-founder and CEO Tarek Mansour said, “Prediction markets are most powerful when they give people and businesses a way to turn uncertainty into actionable decisions.” A separate partnership is extending prediction-market data into institutional research. BMLL announced Sept. 17 that it would integrate Kalshi’s historical prediction-market data into its institutional data coverage. BMLL plans to standardize Kalshi’s archived order-book records so researchers can compare them with data from CME Group event contracts and other markets. Potential applications include research tied to Federal Reserve interest-rate decisions, consumer-price-index releases and gross-domestic-product data. Kalshi head of institutional Andy Ross said, “Institutional participants increasingly need better ways to price and manage event-driven risk directly.” ## Links in this article - [Morgan Stanley’s involvement in NEXTPredict NYC](https://www.tokenpost.com/news/business/24150)