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How a California goat herding company is hedging against risk of higher wages

cnbc.com · 1,073 words · saved by 1 readers

A goat herding business facing higher wage costs turned to prediction market platform Kalshi to hedge and help offset the possible expense.

Castle's founders pose with Tim Arrowsmith at Western Grazers in northern California. Courtesy: Castle A goat herding business facing higher payroll costs from a legislative bill turned to prediction market platform Kalshi to hedge and help offset the possible expense. Tim Arrowsmith, owner of Western Grazers in California, estimates that he pays at least $70,000 per year for each herder when factoring in workers' flight tickets and visa costs. The company, whose goats eat vegetation to help prevent wildfires, has about 4,000 animals and eight herders, who are each paid $60,000 a year.…

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