Kalshi, Pyth Ink Deal To Bring Prediction Market Data On-Chain
Roundup: Robinhood eyes M&A in prediction markets
One of the ongoing criticisms of Kalshi (from some corners) has been that it’s not on-chain. That’s starting to change with a new partnership announced on Monday with Pyth Network.
Pyth, which describes itself as a “leading provider of institutional market data,” announced it would deliver data from Kalshi’s prediction markets across more than 100 blockchains.
This marks the first time regulated event data will be streamed onchain at scale, enabling developers, institutions, and protocols to build applications powered by real-time probabilities of future outcomes. By expanding market data beyond asset prices to the realm of events—politics, economics, sports, crypto, and culture—this partnership unlocks a new dimension of financial infrastructure.
Onchain builders need a trusted, composable source of event data. Pyth’s integration with Kalshi makes regulated prediction market prices available to everyone with an internet connection, giving developers a foundation to create new classes of financial products. Kalshi, as the leading CFTC-regulated event exchange in the US, delivers the credibility, oversight, and scale required to establish event-driven data as a first-class category in DeFi. …
“Since gaining prominence during the 2024 U.S. presidential election, prediction markets have emerged as powerful tools for translating expectations about future events into real-time prices,” said Mike Cahill, CEO of Douro Labs and contributor to Pyth. “Partnering with Kalshi, the leading regulated event exchange, underscores our vision to be the most comprehensive and resilient financial data ecosystem in the world. We’re excited to take this significant step as the first institutional market data provider to offer prediction market data onchain.”
The number of Kalshi markets that are now available via Pyth is fairly limited at launch:
New York City mayoral election
F1 Drivers Champion
World Series champion in Major League Baseball
Number of interest rate cuts in 2025
Pyth also elaborates on the partnership on its website.
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Prediction markets news roundup
Robinhood open to deals to grow prediction markets business, executive says (Reuters): “Trading platform Robinhood Markets (HOOD.O), opens new tab is open to potential acquisitions in the fast-growing prediction markets space if the right opportunity presents itself, a top executive told Reuters in an interview on Monday, as interest in the once-niche asset class surges globally.”
“We as a firm are going to be looking to see if there is an acquisition that’s available,” said JB Mackenzie, vice president and general manager of Futures and International at Robinhood. “I’m always looking to see if there’s something of interest, if there is, we’ll pursue it and see if it’s the right fit.”
More: Given the velocity of growth in the sector, this is no surprise. CEO Vlad Tenev already sees prediction markets as his domain: “Turns out the Robinhood of prediction markets is … Robinhood,” he tweeted recently. If Robinhood sees this as a long-term driver of growth, why would it outsource it to Kalshi rather than owning and operating a prediction market itself? The question is would it buy its current partner at a premium, or would it look elsewhere for M&A?
DraftKings, Caesars investors weigh Kalshi & Polymarket risks (Yahoo Finance, video): “Prediction market valuations like Kalshi and Polymarket are growing, applying pressure to more traditional betting platforms like DraftKings (DKNG), Flutter (FLUT), and Caesars (CZR). Oppenheimer & Co. managing director of consumer internet equity research, Jed Kelly, joins Market Catalysts to dive deeper into the betting space.”
Prediction Market FOMO (The Advantage Play Substack): “Prediction markets like Polymarket, Kalshi and even Robinhood are
having a momenttaking over. Their growth and visibility is similar to what we saw when regulated sports books entered the market after states began legalizing them in 2018. Prediction markets can be seen as peer-to-peer betting but in reality the other side of your bet is likely a professional market making organization that has more information and computing power than you do. On the other hand, when you can bet on anything how can any one group have the upper hand on everything?As I write this, live contracts on Polymarket include by what date TikTok will be sold, if Taylor Swift will be pregnant before she gets married, and how many times Elon Musk will tweet.”
Full thing here:
