Kalshi

Kalshi is a financial technology company and federally regulated exchange that allows US residents to legally trade event contracts on economic, political, weather, and entertainment outcomes. Founded in 2018 and headquartered in New York, Kalshi spent over two years obtaining regulatory approval from the CFTC before launching publicly in 2021 as the first true prediction market to operate under US financial regulation.

What distinguishes Kalshi from offshore or crypto-based competitors is its regulatory status: as a CFTC Designated Contract Market (DCM), it is held to the same standards as established exchanges like the CME. This means customer funds are protected, disputes have a formal resolution process, and the platform cannot trade against its own users. US residents can fund accounts via bank transfer and are covered by SIPC-equivalent investor protections.

Kalshi's market catalog covers a wide range: Federal Reserve rate decisions, unemployment data, CPI releases, election outcomes (after winning a landmark 2024 court battle against the CFTC's attempt to block election contracts), box office results, and sports events. The platform has grown rapidly since 2021 and secured significant venture funding including from Sequoia Capital, positioning itself as the regulated, institutional-grade alternative to Polymarket for US-based traders.