North Jersey Laundromat Owner Uses Kalshi to Hedge Against Rising Natural Gas Costs
Third-generation Family Laundry owner Nick Zoraian is using prediction markets to help protect his family's business for the next generation
BERGEN COUNTY, N.J. - Natural gas is one of Family Laundry's largest operating expenses, with costs that can fluctuate significantly throughout the year. Owner Nick Zoraian is now trading natural gas markets on Kalshi to help offset some of those costs when prices rise.
Family Laundry has served North Jersey communities for more than 50 years, operating six laundromats in Hackensack, Haledon, Lodi, Pompton Lakes, Ridgefield and Ridgefield Park. Zoraian is the third generation of his family to run the business and hopes to eventually pass it down to his son.
"My family has spent three generations building this business, and I want to make sure my son has the opportunity to carry it on," Zoraian said. "I want to leave him a business that's in a strong position, and part of that means finding new ways to manage costs and plan for the future."
Zoraian uses Kalshi's prediction markets to trade on whether natural gas prices will rise above a certain amount. If his prediction is correct, he receives a payout that will help offset the increased costs of running his business.
"I can't control what we're charged for natural gas, but I can prepare for what happens if prices go up," Zoraian said. "If my trade pays out, that money helps cover the added expense. It's another tool to protect our bottom line and keep the business moving forward."
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