‘Prediction Markets’ Come to Art Auctions: Now You Can Bet on Basquiat and Monet, Courtesy of Kalshi

Kalshi, a prediction market platform, has launched a new category allowing users to bet on individual artwork auction prices and total auction sales values. Users can wager on outcomes such as whether auction records for artists like Jean-Michel Basquiat, Vincent van Gogh, and Pablo Picasso will be broken this year. The company positions this as a tool for collectors, art funds, dealers, and retail speculators to hedge against art market volatility, though critics raise concerns about potential insider trading. Major auction houses Christie’s, Sotheby’s, and Phillips have responded cautiously, with Christie’s stating its policies preclude employee involvement in such markets.