Kalshi

Kalshi is a financial exchange and prediction market based in New York, founded in 2018 by Tarek Mansour and Luana Lopes Lara. The company launched its platform in July 2021, becoming the first federally regulated exchange of its kind in the U.S. It received its license from the Commodities Futures Trading Commission (CFTC) in November 2020. Kalshi specializes in event contracts, which allow traders to speculate on the occurrence of future events. These contracts are priced based on the estimated probability of the event happening and pay out $1 for correct predictions. Users can trade on a variety of events, including economic indicators, weather patterns, entertainment awards, and political outcomes. The platform caters to both retail and institutional traders and has gained significant investment from firms like Sequoia Capital and Charles Schwab, totaling $30.2 million as of May 2023. Kalshi has established over 300 regulated markets and has seen substantial user engagement, with over 120 million contracts traded.