Earlier this month, someone executed five block trades on Kalshi betting on the success of LSU’s football team. These trades were privately executed with a third party and then uploaded to Kalshi once the details were confirmed. Each trade was worth between $300,000 and $900,000, with successful payouts based on everything from LSU making it to the College Football Playoff to the program winning a national championship under first-year head coach Lane Kiffin.
If LSU does win a national championship this season, the five block trades would collectively pay out about $3 million. But these bets weren’t placed by a whale in Las Vegas. They were placed by LSU — through an intermediary — as a hedge.
Let me explain…