LA Ice Cream Shop Owner Makes $1,500 Betting on Cold Weather to Hedge Sales Loss
Updated
Updated · New York Post · Jul 16
LA Ice Cream Shop Owner Makes $1,500 Betting on Cold Weather to Hedge Sales Loss
3 articles · Updated · New York Post · Jul 16
Summary
$1,500 a month in Kalshi winnings is helping 28wishes owner Jason Jiang offset weather-driven slumps at his Los Angeles ice cream shop, where sales fall about 20% when temperatures drop below 70 degrees.
Jiang and his brother James began staking about $20 a day on Kalshi's climate market in April, using forecasts, climate news and scientists' social posts to predict Southern California cold snaps and rain.
$600 in monthly wagers is a risk Jiang says the business can absorb, and the gains now cover roughly 43% of the shop's $3,500 monthly rent.
Kalshi, launched in 2021, says it has more than 5 million monthly active users and CFTC approval, though some states including Arizona and Ohio have challenged the prediction-market app.