New prediction market app will be powered by Kalshi markets, creating a new path for economic diversification for the Tunica-Biloxi Tribe
The Tunica-Biloxi Tribe of Louisiana has become the first tribal nation to enter the prediction markets sector through a partnership with Kalshi.
Through SaltTrade Derivatives, a newly established subdivision of a Tribal-owned enterprise, the launch marks another significant step in the Tribe’s ongoing work to diversify its portfolio and build sustainable sources of revenue for future generations.
Under the partnership, the Tribe will draw upon Kalshi’s established infrastructure and market expertise to develop a distinct Tribal-owned trading application.
“This partnership represents exactly the type of opportunity Indian Country should be pursuing, where Tribes are owners, innovators and leaders, not just participants,” said Tunica-Biloxi chairman Marshall Pierite. “For generations, the Tunica-Biloxi people have adapted, traded and built relationships that allowed our Nation to prosper.
“This initiative carries that tradition into the modern economy and demonstrates what is possible when Tribal entrepreneurship is paired with emerging technology and innovative vision.”
The announcement follows the issuance of a conditional no-action letter from the Commodity Futures Trading Commission (CFTC), providing an important framework for the Tribe’s participation in the prediction markets business.
“Tribal nations possess the business expertise to compete in the most innovative areas of the American economy,” continued Pierite. “We are ushering in new opportunities for all Indian country and leading the effort to establish a framework through which Tribes across the country can create and control their own economic destinies.”
Kalshi CEO Tarek Mansour commented: “Indian Country should have more paths to economic self-determination, not fewer and we’re proud to partner with the Tunica-Biloxi Tribe as the first tribal nation to enter prediction markets.
“The debate can no longer be reduced to prediction markets on one side and Tribes on the other. What’s clear is that regulated national infrastructure and Tribal entrepreneurship can develop together – and one does not have to lose for the other to win.”