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Liquidity can consequently become self-reinforcing. Market makers gravitate towards platforms offering dependable technology and substantial order flow, while their participation improves pricing and execution for consumers.
Sahil Patel, founder of competitive intelligence provider Aldrin AI, said those relationships help explain Kalshi’s position.
“A lot of market makers want to go where there’s liquidity,” he said, adding that platform stability and Kalshi’s investment in the financial side of its market-maker relationships were also important. “I think Kalshi is a freight train that’s just kind of running away with it.”
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“Threatening the safety of an athlete or their family members over a sports bet crosses a bright ethical and criminal line, and it is entirely unacceptable,” the leagues wrote in the statement.
The equinox, a relatively new phenomenon, occurs when the NFL, NBA, NHL and MLB all hold games on the same day. A fifth league, the MLS, also signed Tuesday’s letter. Although the equinox will transpire this year on 26 October, the MLS will not be in action.
More than a year after then-Houston Astros pitcher Lance McCullers faced menacing threats from an exasperated bettor, questions remain about whether the proposed bans will serve as a meaningful deterrent to agitated sportsbook customers. An investigation later determined that the bettor resided overseas.
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