By
Bloomberg
Published
November 19, 2025
Prediction market Kalshi Inc. and sneaker marketplace StockX are offering a new way to bet on the resale prices of in-demand sneakers and collectibles such as Labubus and Pokémon cards.
In a partnership set to be announced Wednesday, Kalshi will use StockX data to create so-called event contracts tied to sneakers, trading cards and figurines. Users will be able to trade on outcomes such as whether an item will surpass a price threshold after release day, or predict the best-selling brands during a major shopping event like Black Friday.
Products that will be listed include highly-anticipated drops of Jordan sneakers, Supreme hoodies and blind boxes that contain random Labubus.
“This is really a natural evolution of a platform made from stock market mechanics,” Greg Schwartz, chief executive officer of StockX, said in an interview.
Kalshi, which was founded in 2018, allows users to buy and sell contracts tied to the outcomes of real-world events such as sports and political elections. The business is licensed and supervised by the US Commodity Futures Trading Commission.
The agreement on collectibles signals another move toward mainstream acceptance for an industry that operates in the grey area between financial trading and gambling, and faces regulatory uncertainty. Gaming regulators in Nevada, for instance, are trying to thwart Kalshi’s event contracts for sports and politics.
The sector has exploded, however, since Kalshi won a court case against US regulators last year that allowed the company to offer trading on the outcome of the presidential election.
Prediction markets such as Kalshi and rival Polymarket Exchange have aggressively raised funds to spur expansion. Kalshi has fielded offers from venture capital investors that would value the startup at more than $10 billion, Bloomberg reported in October.
These markets have grown far faster than expected, according to Kalshi CEO Tarek Mansour, and event contracts for goods such as sneakers and collectibles mark a new category for the company.
It follows the growth of alternative asset classes that have sprouted in recent years, from limited-edition shoes from Nike and Adidas to trendy Labubu dolls with fangs and bunny ears that are hung from handbags. The products frequently go for many times their retail price in the resale market, while Pokémon has benefitted from heightened interest in trading cards.
Kalshi plans to keep looking for new areas that have “deep, liquid, high-transactional type marketplaces,” Mansour said in an interview. “We want to build the ‘everything exchange.’”
The initial contracts cover “select, high-demand releases across major brands,” but the companies plan to expand their partnership going forward, according to a statement.
