Key Points :
• Kalshi has launched access to its real-time order book data for sports and crypto perpetual event contracts through DoubleZero Edge’s dedicated fiber network.
• The initiative gives institutional users a machine-readable data feed without requiring them to build infrastructure directly from order books and API responses.
• Sports currently represents 37.8% of Kalshi’s weekly notional trading volume, while crypto accounts for 20.3%, highlighting the growing importance of both categories to the prediction market.
• The launch comes as Kalshi continues to face legal challenges from state authorities over whether its event contracts constitute federally regulated derivatives or illegal gambling.
Kalshi Expands Institutional Data Access
Prediction market Kalshi has launched a dedicated data feed for its live order book through DoubleZero Edge’s fiber network.
The service provides real-time market data covering Kalshi’s sports and crypto perpetual event contracts and will be available to new DoubleZero Edge subscribers.
Instead of requiring users to independently construct infrastructure using Kalshi’s order books and application programming interface responses, the dedicated feed provides a machine-readable view of the market data.
The companies said the initiative is designed to improve access to prediction market information for institutional participants.
DoubleZero Brings Dedicated Market Infrastructure
DoubleZero co-founder Austin Federa described data access as a critical component of market structure, arguing that the infrastructure has historically been lacking across emerging financial markets such as crypto, perpetuals and prediction markets.
The dedicated fiber network is intended to provide institutional-grade connectivity and data distribution to market participants.
For Kalshi, the arrangement could make its markets more accessible to professional traders and institutions that require reliable, low-latency data infrastructure.
Sports and Crypto Drive Kalshi Activity
Sports has become one of Kalshi’s largest trading categories, accounting for approximately 37.8% of weekly notional volume, according to Dune data.
Crypto ranked third at approximately 20.3%, while exotics represented the largest category at 39.4%.
The data indicates that sports and cryptocurrency contracts have become significant components of Kalshi’s overall trading activity.
The dedicated data feed could therefore provide institutional participants with direct access to two of the prediction market’s most active segments.
Prediction Markets Gain Broader Exposure
Kalshi’s growing presence has also extended beyond its own platform.
In early July, OpenAI began displaying Kalshi prediction market odds for FIFA World Cup matches in ChatGPT search results, increasing the visibility of event-based market data to a broader audience.
The integration reflects the expanding role of prediction markets as sources of real-time information about anticipated events.
At the same time, the increasing popularity of sports and crypto contracts has intensified regulatory scrutiny.
Kalshi Faces Regulatory Disputes Over Sports Contracts
Kalshi’s sports event contracts remain at the center of a broader jurisdictional dispute between state regulators and the federal Commodity Futures Trading Commission.
State authorities argue that sports contracts offered by prediction markets constitute wagers and therefore fall under state gambling laws.
Kalshi and the CFTC maintain that the contracts are derivatives subject to federal oversight and that the CFTC has exclusive jurisdiction over federally regulated event contracts.
The dispute has already resulted in legal actions across multiple states.
A Michigan judge temporarily blocked Kalshi from allowing residents to place sports-event bets in June. Kentucky also sued five prediction market platforms, including Kalshi and Polymarket, alleging that they were operating unlicensed sports betting platforms.
Nevada previously issued a temporary ban on Kalshi’s operations in the state.
CFTC Defends Federal Jurisdiction
The CFTC has also taken legal action against states as it seeks to establish the federal government’s authority over prediction markets.
The commission has argued that event contracts traded on federally regulated exchanges fall within its jurisdiction and should not be subject to conflicting state gambling restrictions.
The ongoing legal disputes could ultimately determine how prediction markets operate across the United States and whether states can restrict contracts that have been approved and regulated at the federal level.
Closing Insights
Kalshi’s launch of a dedicated sports and crypto perpetuals data feed through DoubleZero represents another step toward institutionalizing prediction market infrastructure. Providing machine-readable, real-time order book data could make Kalshi’s markets more accessible to professional participants while supporting the broader development of prediction markets as a financial data category. However, the expansion comes alongside unresolved regulatory disputes over sports contracts, meaning the industry’s long-term growth will depend not only on institutional adoption and infrastructure but also on how US courts and regulators define the jurisdictional boundaries between derivatives and gambling.
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