Event contracts
Binary options that pay out on real-world events.
Trade as a business, institution, or entity
Loading current market probabilities
Politics, financials, commodities, and economics
About Kalshi
Kalshi is the first CFTC-regulated prediction market and perpetual futures exchange.Learn more about our history and mission
Learn more
Perpetual futures
The futures product for the modern world.
No rollover fees, 24/7 exposure, premier risk management.
Use Cases
Hedging
Hedge a business risk by trading directly on the event that creates the exposure, instead of relying on a proxy
Learn morePrice Discovery
See what the market thinks something is really worth, and use that number to price insurance, value a deal, or mark a position. This works even for markets with lower volumes.
Real-world examples: Susquehanna, Ark Invest
Trading
Express directional and relative-value views across event contracts and perpetual futures
Market Making
Provide passive liquidity around fair value through institutional trading infrastructure
Learn moreArbitrage
Trade dislocations between related event contracts and other derivatives pricing similar risks
Data
Use live and historical market-implied probabilities priced by real capital at risk to inform business decisions
Learn moreA regulated exchange and clearinghouse
Kalshi operates two entities that are fully regulated by the Commodity Futures Trading Commission (CFTC). This is the same regulator that oversees traditional exchanges including the Chicago Mercantile Group (CME), the Intercontinental Exchange (ICE), and Cboe.
All contracts are peer-to-peer, and you can enter and exit at any time.
The exchange
KalshiEX LLC
CFTC-designated contract marketThe clearinghouse