CME Plans to Launch Sports Contracts to Compete With Kalshi

CME Group, a leading derivatives exchange, is planning to launch new financial contracts linked to sports events and economic indicators by the end of 2023. This move is seen as a response to the emergence of Kalshi, a competitor that has recently received regulatory approval to offer contracts on various events, including sports. The new contracts from CME Group will allow investors to bet on the outcomes of sports games, as well as on economic indicators such as unemployment rates and inflation. This diversification of the exchange's product offerings is aimed at attracting a wider range of investors and competing with the growing popularity of Kalshi's event-based contracts. The launch of these sports-related contracts is part of CME Group's strategy to stay relevant and competitive in the evolving financial markets. The move is expected to provide investors with additional risk management tools and potentially increase liquidity in the exchange's overall trading ecosystem.