Regulations
By Sakamoto Nashi
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What the Numbers Actually Look Like. Here's where it gets interesting. Per Dune data, sports contracts account for 37.
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The Legal Mess Running Alongside All of This. None of this is happening in a clean regulatory environment. Far from it.
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Why This Matters Beyond Kalshi. Prediction markets have spent years being treated as a curiosity — interesting, maybe useful, but…
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Kalshi just plugged its live prediction market data into DoubleZero's dedicated fiber network.
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The feed runs through DoubleZero Edge. New subscribers get a direct view of Kalshi's live order book for sports and crypto perpetual event contracts, and it's the first time any…
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Austin Federa, co-founder of DoubleZero, said the move brings institutional-grade infrastructure to a corner of finance that's basically been running on fumes when it comes to…
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Here's where it gets interesting. Per Dune data, sports contracts account for 37.8% of Kalshi's weekly notional volume right now. Crypto sits at 20.3%.
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The gap Kalshi and DoubleZero are trying to close isn't small. Crypto and prediction markets have both grown into serious financial venues, but the infrastructure around them has…
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For traders and quant shops that want to price event contracts — sports outcomes, crypto price events — having a clean, machine-readable order book feed changes the calculus.
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See also: Connecticut Judge Rules Kalshis Sports Contracts Fall Outside CFTCs Reach
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Kalshi's sports event contracts are caught in a jurisdictional fight that's been grinding through courts and state agencies for a while now.
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A Michigan judge temporarily stopped Kalshi from taking bets on sports events. Kentucky went further and sued Kalshi — along with others — for allegedly running unlicensed…
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So Kalshi is essentially expanding its data infrastructure while simultaneously fighting regulatory fires in multiple states. That's a hard position to be in.
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And yet Kalshi keeps moving. The DoubleZero integration didn't wait for legal clarity. Maybe that's confidence. Maybe it's necessity. Probably both.
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More context: SEC and CFTC Press Forward on Crypto Without Waiting for September Clarity Act Vote
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