Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Kalshi says its prediction markets will compete directly with U.S. equities within a few years

Kalshi says its prediction markets will compete directly with U.S. equities within a few years

CryptoNewsNetCryptoNewsNet2025/11/19 01:51
By:cryptopolitan.com

Kalshi is no longer trying to just carve out a space for itself. It wants to go head-to-head with the U.S. stock market.

Tarek Mansour, the CEO of Kalshi, made that very clear on Tuesday during the Futures Industry Association’s Expo in Chicago. “This is starting to look like a trillion-dollar market,” he said. “I always thought it was going to be pretty fast and go pretty big. I just didn’t think that fast.”

This whole shift kicked into overdrive after Kalshi beat U.S. regulators in court last year, giving it the legal green light to let people trade contracts on the outcome of the next presidential election.

Since that win, things have moved faster than even Tarek expected. He originally thought it’d take a full decade for prediction markets to catch up to traditional equities, but Kalshi has already built what he calls “a whole class of active traders.”

Kalshi adds news and sports to fuel rapid growth

Kalshi didn’t stop at politics. The firm started offering new markets tied to sports, pop culture, and other current events, using its special regulatory setup to slip through cracks in states where sports betting is either banned or heavily restricted.

Tarek says more sports-related deals are coming soon. “I think prediction market is going to be embedded very smoothly, very effectively in the news,” he said, adding that major media partnerships are also in the pipeline, though he didn’t name any outlets.

What separates Kalshi from typical betting platforms is how the bets work. Instead of placing odds like a sportsbook, Kalshi sets up binary questions, yes or no outcomes, and lets users trade both sides of the prediction like a financial contract. This creates a kind of tug-of-war between users instead of the house-versus-you model.

Tarek insists that makes it not gambling at all. “While the house always wins in gambling, prediction markets provide a more level playing field,” he said. But not everyone’s buying it.

The Commodity Futures Trading Commission (CFTC) is still on Kalshi’s side, giving the exchange regulatory cover to continue operations. But some state-level gambling watchdogs have ordered Kalshi to shut down. And courts in some states have already ruled against it, threatening the company’s national expansion.

Tarek admitted there’s always been “weird tension with gambling” in new financial innovations, especially in derivatives. That tension hasn’t gone away, if anything, it’s heating up.

Wall Street steps in as rivals circle Kalshi

It’s not just state regulators Kalshi has to deal with. Gambling firms are coming for the same users, and industry insiders say Kalshi and other prediction exchanges might struggle to compete with more mainstream betting products.

Even so, Wall Street is starting to circle the space.

Intercontinental Exchange (ICE), the company that owns the New York Stock Exchange, is putting up to $2 billion into Polymarket, Kalshi’s biggest rival.

Meanwhile, CME Group is building a new app with Flutter Entertainment, mixing sports bets with financial data contracts.

Tarek says he’s fine with competition. He believes it’ll push the industry forward faster. Kalshi’s trading volume is booming, especially after teaming up with Robinhood, where users can now access its contracts directly. Its own platform has also seen a spike, mostly driven by sports-related wagers.

Looking ahead, Tarek says Kalshi will go global. The company is planning to launch in multiple countries over the next 18 months, betting big on what it sees as unstoppable momentum.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Algo Falls by 0.69% as Market Fluctuations and Ongoing Downtrend Persist

- Algo (ALGO) fell 0.69% in 24 hours to $0.1434, contrasting with 5.52% weekly gains but a 57.16% annual decline amid crypto market uncertainty. - Switzerland delayed CARF crypto reporting rules until 2027, citing stalled international data-sharing talks, hindering global regulatory alignment. - Bonk (BONK) launched Europe's first ETP on SIX Swiss Exchange, enabling traditional investors to access memecoins without digital wallets. - Ethereum prepares December 3 gas limit upgrade to 60M, enhancing layer-2

Bitget-RWA2025/11/28 05:04
Algo Falls by 0.69% as Market Fluctuations and Ongoing Downtrend Persist

XRP News Today: Institutional ETFs and Derivatives Indicate a Positive Shift for XRP Above Crucial Support Levels

- XRP rebounds above $2.20 as buyers defend key support, supported by $107.92M in ETF inflows and rising institutional confidence. - Technical analysis highlights a bullish "Staircase to Valhalla" pattern, with $2.26-$2.52 resistance levels and Fibonacci targets signaling potential for $2.69. - Derivatives data shows aggressive long-positioning (OI: $4.11B), with Binance's 2.56 long-short ratio and 57% options OI surge reinforcing bullish momentum. - Institutional ETF conversions (e.g., Grayscale Zcash) an

Bitget-RWA2025/11/28 04:32
XRP News Today: Institutional ETFs and Derivatives Indicate a Positive Shift for XRP Above Crucial Support Levels

Why Switzerland's Temporary Halt on Crypto Highlights Worldwide Regulatory Disunity

- Switzerland delays crypto tax data-sharing until 2027, highlighting global regulatory fragmentation amid CARF adoption challenges. - Two-phase approach prioritizes domestic law alignment before reciprocal agreements with key economies like U.S., China, and Saudi Arabia. - 75 CARF signatories progress unevenly, with U.S. and Brazil proposing alternative frameworks, complicating cross-border compliance. - Swiss crypto firms face operational risks during transition, as critics warn of regulatory arbitrage b

Bitget-RWA2025/11/28 04:32
Why Switzerland's Temporary Halt on Crypto Highlights Worldwide Regulatory Disunity

Thailand’s Bold No-Crypto-Tax Move: Shaping a Future Southeast Asian Crypto Center

- Thailand imposes 0% capital gains tax on local crypto trading (2025-2029) to boost its digital economy and attract investors. - The policy aligns crypto profits with tax-exempt stock trading, supported by a 2024 Bitcoin ETF and Tourist DigiPay pilot for foreign visitors. - Regulatory caution is evident through biometric data shutdowns and PDPA compliance, balancing innovation with security amid regional competition. - Projected $1B annual economic gains aim to position Thailand as a top Southeast Asian c

Bitget-RWA2025/11/28 04:32