Key Highlights
- Kalshi integrates DoubleZero’s institutional-grade, low-latency data infrastructure for its order book
- DoubleZero employs dedicated fiber optic networks to deliver simultaneous exchange and onchain data to all subscribers
- The platform becomes the first prediction market offering real-time order book feeds for sports betting and crypto perpetual contracts
- Weekly trading volume shows sports representing 37.8% and crypto accounting for 20.3% of activity
- The company faces ongoing legal challenges from several US states regarding its sports betting contracts
In a strategic move to attract institutional traders, prediction market platform Kalshi has integrated DoubleZero’s high-speed data distribution system into its order book infrastructure. This partnership addresses the increasing appetite from financial institutions seeking enhanced speed and reliability when accessing market information across crypto and prediction trading venues.
DoubleZero operates on Solana, a prominent layer-1 blockchain platform. The company’s flagship offering, DoubleZeroEdge, functions as a specialized transport infrastructure that distributes live exchange information and onchain data through dedicated fiber optic cables, ensuring simultaneous delivery to all subscribers.
Within conventional finance, institutional market participants have relied on proprietary high-speed networks for data access for years. However, cryptocurrency market participants typically depend on regular internet connectivity. DoubleZero aims to bridge this technological divide.
“This distribution approach mirrors the infrastructure framework that has supported major traditional financial exchanges, including NYSE, Nasdaq, and CME, for many years,” the DoubleZero Foundation announced Wednesday.
Available Data and Features
Kalshi has achieved a milestone as the inaugural prediction market to offer streaming order book information for both sports betting and crypto perpetual futures through a dedicated feed infrastructure.
Perpetual futures in cryptocurrency are derivative instruments enabling traders to take positions on asset prices without contract expiration dates. These products represent some of the most liquid contracts on Kalshi’s platform.
Subscribers to the data feed receive structured, machine-readable order book information from Kalshi. This eliminates the requirement for traders to develop custom infrastructure by parsing order books and API data independently.
Austin Federa, who co-founded DoubleZero, described data accessibility as an “essential component” of market infrastructure, noting that comparable systems have been absent from emerging financial sectors including crypto assets and prediction markets.
Both organizations unveiled the collaboration Wednesday, making the service immediately available to DoubleZero Edge subscribers.
Platform Trading Activity Analysis
Data compiled by Dune reveals that exotic contracts lead Kalshi’s activity with 39.4% of weekly notional volume. Sports-related contracts capture 37.8%, while cryptocurrency contracts represent 20.3% of trading.
Kalshi and Polymarket dominate the global prediction market landscape. During early July, OpenAI integrated Kalshi’s probability data for FIFA World Cup fixtures into ChatGPT’s search functionality.
Platforms like Kalshi generate probability assessments for economic events such as Federal Reserve rate adjustments and inflation releases. These developments can trigger rapid price movements in milliseconds, making high-speed data critical for sophisticated trading operations.
Meanwhile, Kalshi confronts mounting regulatory scrutiny. State authorities in Michigan, Kentucky, and Nevada have contested its sports-related contracts, claiming they represent unauthorized sports gambling. The Commodity Futures Trading Commission has countered these assertions, maintaining federal authority over such agreements.
The CFTC has initiated legal proceedings against multiple states to uphold its regulatory stance, with litigation still pending resolution.
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