NEXTPredict, organizers of a prediction markets conference, paid a $12,000 premium on Kalshi to hedge their upcoming event, securing $3 million in coverage if more than half of flights to New York's JFK airport are canceled on October 21. The trade, executed with Susquehanna as market maker, aims to protect against losses from travel disruptions, a risk that traditional event insurance often fails to cover unless the event itself is canceled.