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California ice cream shop owner bets on weather to help pay rent
New York Post • • technology
Key Points:
- 28wishes, an independent ice cream shop in downtown Los Angeles, is supplementing its income by betting on cold weather through Kalshi, an online prediction market app.
- Owner Jason Jiang, a former corporate banker, uses weather forecasts and climate data to predict cold snaps in Southern California, earning up to $1,500 monthly to hedge against reduced ice cream sales on colder days.
- The shop places daily $20 bets on Kalshi's climate market, viewing it as a calculated risk that helps offset about 43% of their $3,500 monthly rent.
- Kalshi, founded by former MIT graduates, has over 5 million users and is legally approved by the Commodity Futures Trading Commission, despite some state-level restrictions.
- Inspired by their success with weather predictions, 28wishes is considering creating a new ice cream flavor themed around their Kalshi earnings, potentially using matcha powder to symbolize "money green."
