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NYC bar uses prediction markets to hedge against a new financial risk: A Knicks victory
Wall Street investors use financial derivatives to hedge against shifts in interest rates and exchange rates.
Business & Economy 
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Wall Street investors use financial derivatives to hedge against shifts in interest rates and exchange rates. Farmers use them to lock in the price of their crops. Now, one New York City bar is using Kalshi, a CFTC-regulated prediction-markets platform, to hedge against another kind of risk.
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