Kalshi事件合约：它们在对冲方面真的更胜一筹吗？

Superior is a strong word, and I'd argue 'different' is probably more accurate for Kalshi. It's like comparing a bespoke tailor to an off-the-rack suit – one is highly specialized, the other more broadly applicable. Both have their place, but don't expect the bespoke option to be cheap or easy to find in every size.

I tend to agree. The idea is interesting, but without substantial liquidity and tighter spreads, it's hard to see how they'd consistently beat established markets for serious hedging. It feels more like a retail speculation venue right now.

You're not wrong about the liquidity, especially for institutional scale. The concept is interesting, but until the market depth significantly improves, it's more speculative trading than a robust hedging tool for most.