A stealth prediction markets startup has deep ties to Interactive Brokers' billionaire chairman Thomas Peterffy

• Lumina Markets, a new prediction markets startup, shares staff and an address with the trading giant Interactive Brokers.
• Job listings say it's "backed by a billionaire pioneer of electronic trading" and describe a "trillion-dollar opportunity."
• Interactive Brokers already has a predictions market, ForecastEx, which has struggled to compete with giants like Kalshi.

A new prediction markets startup with strong ties to billionaire Thomas Peterffy is hiring staff and preparing to launch, job postings and corporate filings reviewed by Business Inside show.

Lumina Markets began advertising last week for roles in marketing and legal. Job listings say it's "backed by a billionaire pioneer of electronic trading," and note that it's preparing to launch a new prediction markets platform. The jobs were posted on LinkedIn by an employee at Interactive Brokers, the trading giant founded by Peterffy.

Registration documents show that Lumina was incorporated by an in-house lawyer at Interactive Brokers; they list its CEO as another attorney who has worked with Interactive Brokers and Peterffy.

Lumina would enter the white-hot world of prediction markets, where traders are wagering over $4 billion a week on the outcome of current events, according to data published by the platforms, with bets being placed on everything from the weather to who wins the Super Bowl.

Kalshi, the US-based prediction market, has a valuation of $11 billion, while Polymarket was valued at roughly $9 billion during an October fundraise. Analysts at Citizens estimated the industry as a whole is bringing in roughly $2 billion a year in revenue, Bloomberg reported in December, with that amount expected to grow to as much as $10 billion over the next five years.

It's not clear how Lumina will be different from ForecastEx, an exchange regulated by the Commodity Futures Trading Commission owned by Interactive Brokers. ForecastEx, whose contracts are offered on Interactive Brokers' own website as well as Robinhood, experienced a surge of interest around the 2024 election, but now amounts to less than 1% of the Kalshi's trading volume, according to data published by the platforms. Other prediction markets platforms available in the US include offerings from crypto trading platforms and operators of state-regulated sportsbooks.

The marketing job description says Lumina will be hiring someone responsible for user acquisition, including hiring influencers; managing social media channels, newsletters, and community spaces; and analytics. It says the company will have a "minimalist identity that simplifies and builds trust in prediction markets."

"Lumina is approaching this opportunity with a long-term mindset and institutional standards," the listings say. "Our mission is to make prediction markets mainstream. What others view as niche speculation, we see as a trillion-dollar opportunity to redefine everyday investments."

The ad for the in-house lawyer position seeks candidates who have "experience at or with an introducing broker, FCM, exchange, or fintech brokerage." Brokers and FCMs, or futures commission merchants, allow people to trade on exchanges like ForecastEx or Kalshi.

Lumina's website features a sleek logo, the words "Future, priced," and little else.

The people listed on its paperwork and job listings didn't reply to inquiries from Business Insider. Representatives for Interactive Brokers and Lumina Markets didn't reply to emails and messages. A person to whom an inquiry for Peterffy was directed did not immediately comment.

Interactive Brokers is known for its low fees. It also allows users to take positions in a broader array of markets, including commodities and foreign exchange markets, than more retail investor-oriented brokerages. Some of its users are professional traders.

The platform's success has helped generate an $87 billion fortune for Peterffy, who emigrated to the US from Hungary. He's the world's 27th richest person, according to Forbes.

Have a tip? Know more? Reach Jack Newsham via email (jnewsham@businessinsider.com) or via Signal (+1-314-971-1627). Use a personal email address, a nonwork device, and nonwork WiFi; here's our guide to sharing information securely.