Here’s a question most equity investors have asked themselves at least once: what happens to my portfolio if the next CPI print comes in hot, or if a recession officially starts? Hedgebook is betting there’s a middle path, one that runs through prediction markets.
The platform, accessible at hedgespx.com, connects approximately 500 S&P 500 companies to 47 event contracts on Kalshi, the CFTC-regulated prediction market exchange. The idea is straightforward: if you hold large-cap equities, you should be able to see which macroeconomic events pose the biggest risks to your positions, and then explore hedging strategies using Kalshi’s event contracts.
How Hedgebook actually works
Hedgebook has established roughly 2,500 connections between those 500 companies and 47 distinct Kalshi markets as of May 30, 2026. The types of events it tracks include recession probabilities, CPI prints, and other economic indicators. The platform pulls data from the Kalshi API and refreshes daily.
One important distinction: Hedgebook is not a trading tool. It’s a user interface for conditional risk management. It helps you understand your exposure and identify potential hedges, but you still need to go to Kalshi to actually execute trades.
