Kalshi Hires Former DraftKings Executive for VIP Trading Unit

Kalshi, the regulated prediction markets platform, is boosting its team with a prominent addition from the US sports betting sector. Dillon Borgida, an experienced executive from DraftKings and Underdog Fantasy, is joining Kalshi. His new role will be to build and lead a department for high-net-worth traders and institutional investors. This move underscores Kalshi's strategic shift from a primarily retail-focused user base towards professional and institutional market participants.

The decision to hire a VIP client specialist highlights Kalshi's ambition to establish its prediction markets as an integral part of the financial infrastructure. This will be achieved under the oversight of the Commodity Futures Trading Commission (CFTC). The strategy mirrors models found in investment banking, offering personalized support and portfolio guidance.

Numbers and facts

Dillon Borgida served as Head of VIP Acquisition at DraftKings for four years, from 2019 to 2023. During this period, he built the VIP acquisition division from the ground up, generating billions of dollars in additional handle, according to his public statements. Most recently, he was Vice President of VIP & Player Experience at Underdog Fantasy from 2024 to 2026. His tenure there coincided with a company restructuring in March 2026, which saw approximately 20 percent of staff laid off. Kalshi itself announced a $1 billion Series F funding round in May 2026, valuing the company at $22 billion. Institutional trading volume surged 800% in the previous six months, and annualized trading volume more than tripled from $52 billion to $178 billion.

Borgida articulated his new role clearly on LinkedIn: > „I’m coming in as Head of Private Client Sales & Services to bring a white glove approach to our traders.“ - Dillon Borgida, Head of Private Client Sales & Services at Kalshi

He added that he is “here to compete” and it’s “time to get to work.” Kalshi CEO Tarek Mansour emphasized in August 2025 that the distinction between crypto and traditional financial companies is blurring: “Over time, anyone who is basically moving money or anyone who’s in financial services is going to be a crypto company in one way, shape or form.”

Background

Dillon Borgida is considered a veteran of the US sports betting sector. He is known for his expertise in managing VIP and high-stakes players. Before his time at DraftKings, he gained experience in VIP-focused positions at William Hill (2018-2019) and FanDuel (2014-2018). His move to Kalshi underscores the growing importance of prediction markets in the US.

Kalshi positions itself as a CFTC-designated contract market, clearly distinguishing its event contracts from state-regulated sports wagering products. By recruiting an executive known for managing high-volume bettors, Kalshi appears to be applying sportsbook VIP economics to a federally supervised derivatives marketplace. The platform is also expanding its institutional tools, including the rollout of “Kalshi Pro,” an advanced trading terminal designed for experienced users. This growth reflects a broader trend: prediction markets are increasingly being used as a tool for hedging real-world risks and obtaining market-based signals on future outcomes.

Why it matters for German players

The developments in the US prediction market, such as those at Kalshi, are only marginally relevant for German players. In Germany, the gambling market is strictly regulated by the Glücksspielstaatsvertrag 2021 (GlüStV 2021). Kalshi's offerings, which involve betting on the outcome of events, could resemble sports betting or even unlicensed gambling, depending on the exact design of the event contracts. Prediction markets in the sense of Kalshi are currently not available as a licensed form of gambling in Germany. There is no specific license category for them. The Joint Gambling Authority of the Federal States (GGL) focuses on compliance with regulations for online casinos, sports betting, and online poker.

German players must be aware that they can only play legally and safely online with providers on the GGL whitelist. These providers adhere to strict rules, including a betting limit of 1 Euro per spin on online slot machines and a monthly deposit limit of 1,000 Euros, which is monitored via the central LUGAS system. Such protective mechanisms do not exist at Kalshi in the US in this form, as it is regulated as a financial product and not as gambling. Transferring Kalshi's business model to Germany would be complex and would require adaptation to the GlüStV 2021 or new legislation, which does not yet exist. Therefore, German players should only use trustworthy online casinos with a German license.

What it means for GGL-licensed casinos

For online casinos holding a GGL license, Kalshi's development has no direct impact. German law clearly separates gambling from financial products. The strict regulation in Germany aims to ensure player protection and addiction prevention. The 1 Euro betting limit, the monthly deposit limit of 1,000 Euros, and the connection to LUGAS are central pillars of this protection. Offerings like Kalshi's, marketed as “critical financial infrastructure,” do not fit into the existing German licensing model for online gambling. Therefore, it is unlikely that GGL-licensed casinos can or will introduce similar products without a fundamental change in German gambling law.