Hérisson

About Hérisson

Hérisson offers financial protection for businesses against one-off, uninsurable risks by structuring custom prediction market contracts. The company operates as an introducing broker in partnership with Kalshi, a Designated Contract Market (DCM) regulated by the Commodity Futures Trading Commission (CFTC). This structure allows Hérisson to provide hedges for events not covered by traditional insurance policies, such as adverse weather that doesn't trigger a cancellation clause, sudden tariff changes, or reputational damage from a celebrity scandal. The business model centers on charging a 2% structuring fee based on the notional value of each hedge. Hérisson does not hold client funds or take principal risk on any position; all trades are cleared and settled through the Kalshi exchange. The process for clients involves identifying a potential one-off risk and its potential financial impact. Hérisson then either matches the exposure to an existing contract on the Kalshi market or works to create a new, custom market if one does not exist. Payouts are parametric, meaning they are triggered automatically by a verifiable, objective event, ensuring settlement typically within 48 hours without the need for claims adjusters or lengthy paperwork. Hérisson targets US-based businesses with significant exposure to singular events, generally those with between $100,000 and $10 million of revenue or capital at risk per event. Key client verticals include event producers, importers and supply chain operators, brand partnership managers, and live entertainment producers. The company leverages the principle that regulated prediction markets can provide an efficient mechanism for risk transfer, similar to how derivatives are used in other industries to hedge against price fluctuations.