Common questions.

Yes. Hérisson routes all hedges through a CFTC-regulated designated contract market (DCM) operating under US federal law. Every trade is fully collateralized, meaning there is always capital on both sides of the contract. This is not a grey-market instrument — it is a regulated financial product with the same legal standing as a futures contract.

Hérisson charges a 1.5% fee on the notional value of each hedge. The cost of the underlying prediction market contracts varies by event, implied probability, and coverage level. The riskier the event (i.e. the higher the market's implied probability of it occurring), the more expensive the contract. Indicative pricing is shown in the product demo on our homepage.

Hérisson is designed for US-based businesses with meaningful exposure to one-off, uninsurable events — typically companies with between $100,000 and $10M of revenue or capital at risk per event. Current target verticals include event producers, importers and supply chain operators, brand partnership managers, and live entertainment producers. If you're unsure whether your exposure qualifies, start your risk assessment at herisson.ai/start.

If no existing contract matches your exposure, Hérisson submits a new market proposal on your behalf. We aggregate demand from other clients facing similar risks and present a combined demand signal to our DCM partners. If the event meets their listing requirements — verifiable outcome, sufficient market interest, clear resolution criteria — a new contract can be created within approximately 30 days. You'll be notified throughout the process.

Traditional insurance requires an adjuster to verify your loss after the fact, a claims process that can take weeks or months, and coverage terms that exclude most grey-zone risks. Hérisson uses parametric contracts — the payout is triggered by an objective, verifiable event (a rainfall measurement, a court ruling date, a talent account suspension), not by a subjective assessment of your damages. If the trigger is hit, you get paid automatically within 48 hours. No receipts, no negotiation, no waiting.

Hérisson is launching in Q2 2026. Join the waitlist and we'll reach out directly to set up your first hedge before public launch.

Prediction markets and sports betting both involve placing money on an uncertain outcome, but the similarity ends there. Sports betting is designed for entertainment — the "house" takes a cut and the odds are set to guarantee profit for the operator. Prediction markets are regulated financial instruments where prices reflect the collective intelligence of all market participants, making them the most accurate real-time probability forecasting tool available. The Federal Reserve has published research confirming that prediction markets outperform traditional economic forecasting. Hérisson uses prediction markets the same way farmers use commodity futures — not to gamble, but to remove financial uncertainty from a business decision.

A designated contract market (DCM) is a CFTC-regulated exchange — the same regulatory category as the Chicago Mercantile Exchange. DCMs are federally regulated prediction market exchanges in the United States, which means every contract traded on their platforms is legally enforceable, fully collateralized, and subject to federal oversight. Hérisson routes all hedges through a DCM, giving our clients the same regulatory protections as any other exchange-traded derivative.

Each contract resolves to either $1 (if the event occurs) or $0 (if it does not). If you buy YES contracts on an event and the event occurs, each contract pays out $1. If the event does not occur, the contracts expire worthless — and your business has had a successful period, which is the outcome you were hoping for. The premium you paid was the cost of certainty.

For large exposures, Hérisson can arrange block trades directly with our DCM partner's market-making partners, bypassing the retail order book. This is one of the core advantages of Hérisson's introducing broker relationship — access to institutional-grade liquidity that is not available to individual retail users of the platform.