Prediction market Kalshi launches event contracts on sports
Events contract exchange Kalshi submitted paperwork to the U.S. Commodity Futures Trading Commission to allow sports predictions on major events like the Super Bowl. The first listings for sports predictions went live on Kalshi on 23 January. The company now offers contracts on markets with a “will <team> win <title>” format.
Kalshi isn’t the first event contract provider that has moved into sports, with Crypto.com recently launching its Super Bowl markets. However, the Commodity Futures Trading Commission asked Crypto.com to remove these markets pending a regulatory review. Crypto.com refused this request and continues to provide sports prediction contracts to players.
An events contract allows players to buy contracts that an outcome will happen. Each contract will be worth a specific value, which will payout if that outcome comes to pass. The more contracts a player buys, the higher payout they can receive.
Last year, Kalshi fought against the Commodity Futures Trading Commission when it offered odds on the presidential election market. Kalshi was successful and approved for election event contracts, which gained prominence across the United States for more accurately predicting the results of the 2024 presidential election than exit polls.
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