Kalshi Launches AI Risk Management Tool Blanket, Aiming to Create an 'Insurance Alternative' for Small Businesses

According to Fortune magazine, prediction market platform Kalshi has launched an AI tool called Blanket, designed to help small businesses hedge operational risks such as weather, energy prices, tariffs, and elections using event contracts. Blanket was developed by independent fintech entrepreneur Lauris Zminsky and operates based on Kalshi's CFTC-regulated prediction market, though it is not an internal product of Kalshi. The tool does not directly execute trades or handle funds but uses AI to analyze risks faced by businesses and recommends Kalshi event contracts that can be used for hedging. For example, a business in Florida can input hurricane risks, or a restaurant business can input concerns about winter temperature fluctuations or rising energy costs. Blanket will match relevant prediction markets to provide risk management solutions for businesses.