Forget sports betting. Kalshi wants you to wager on sneakers and Labubu dolls.

• Kalshi users will soon be able to bet on the price of rare collectibles.

• The platform is partnering with StockX to offer the first-ever “product event contracts.”

• Collectibles have morphed into a massive market in the US, with toys among the hottest items.

Think the Labubu craze has legs? You can take that bet now on Kalshi.

The prediction market that helped popularize betting on everything from politics to sports is now offering users the chance to profit by betting on the future price of rare collectibles.

The platform is partnering with StockX, a digital marketplace long favored by collectors who chase hot niche items like rare Air Jordan sneakers and Labubus. They announced the first-ever “product event contracts” on Wednesday.

“The partnership marks the introduction of a new category of event contracts that allow market participants to take positions on measurable product outcomes, such as whether a product will clear a certain resale price threshold a week after its release.”

Betting platforms like Kalshi and Polymarket exploded in popularity by allowing people to bet on outcomes of politics, sports, and other big events. Anyone with a smartphone could potentially make money betting on next week’s weather or predicting how high Elon Musk’s net worth would rise.

Kalshi believes the next frontier of predictive markets lies in rare collectibles.

“Physical collectibles have some of the most hardcore, data-obsessed communities in the world,” a Kalshi spokesperson told Business Insider. “Until now, there’s never been a liquid global marketplace to price them.”

That obsession could ultimately translate into a significant new betting market.

As Business Insider reported, adults have turned collectible toys into a $7 billion industry in the US. The Labubu doll is the wildest recent example, with the craze blowing up into what Business Insider’s Katie Notopoulos describes as a “billion-dollar bubble ready to burst.”

Kalshi users will be able to place bets on which brands are most likely to be traded during shopping events, as well as the average sale prices prior to releases and the average price at which popular products will sell on a monthly basis.

StockX is home to a wide variety of rare and highly prized items, including Zegna’s Triple Stitch sneakers, the shoe that’s taken Wall Street by storm. It’s not just sneakers, though. Users can find rare Birkenstocks, Crocs, and Dr. Martens, as well as accessories and apparel from popular brands.