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Real-time order book feed
Kalshi, the federally regulated prediction market platform, began offering a real-time order book data feed through DoubleZero Edge over a dedicated global fiber-optic network, with the initial feed covering sports contracts and crypto perpetual futures contracts.
“Kalshi will waive its share of subscription fees for the first year.”
The companies said the service is designed to provide a machine-readable view of prediction market data without firms having to reconstruct order book conditions from API responses, and Decrypt reported that Kalshi will waive its share of subscription fees during the feed’s first year.
Austin Federa, co-founder of DoubleZero, said data access is a “critical part” of market structure, and Decrypt added that the feed includes Level 1 data showing the best available prices and completed trades plus Level 2 data showing buy and sell orders across multiple price levels.
Cointelegraph reported that Kalshi’s live order book is now available through DoubleZero Edge’s dedicated fiber network, and TradingView said the initiative makes Kalshi the first prediction market to distribute its real-time order book data on sports and crypto perpetuals event contracts.
Institutional access and latency
Decrypt described DoubleZero Edge’s multicast system as sending the same machine-readable data to connected traders simultaneously, and it said the new feed provides formatted data firms can use for pricing, hedging and automated trading.
Andy Ross, Head of Institutional at Kalshi, said in a statement, “They're looking for institutional-grade infrastructure everywhere they trade,” and he added that making market data available over DoubleZero Edge lets Kalshi “meet them where they are.”
In an interview with Decrypt, Austin Federa said, “Previously, a firm wanting a production-grade view of the book built it,” and he contrasted that with the new approach as “a subscription: buy access, run one install command, and the data arrives in a format software can consume directly.”
TradingView reported that sports is the second-largest category on Kalshi with 37.8% of weekly notional volume, followed by crypto at 20.3%, and it said Exotics ranked first at 39.4% of weekly notional trading volume according to Dune data.
Regulatory fight and market stakes
Kalshi’s sports event contracts are at the center of a jurisdictional dispute between state regulators and the federal Commodity Futures Trading Commission (CFTC), with TradingView saying state authorities argue the contracts are wagers subject to state gambling laws while the CFTC and Kalshi contend they are derivatives subject to the CFTC’s exclusive jurisdiction.
“On June 29, a Michigan judge temporarily blocked Kalshi from allowing residents to place bets on sporting events.”
TradingView reported that on June 29, a Michigan judge temporarily blocked Kalshi from allowing residents to place bets on sporting events, and it added that Kentucky sued five prediction market platforms including Kalshi and Polymarket accusing them of operating unlicensed sports betting platforms.
Cointelegraph reported that Nevada issued a temporary ban on Kalshi earlier in March, and it said the CFTC also sued several states arguing that federally regulated event contracts fall under its exclusive authority.
Cointelegraph further noted that in early July, OpenAI started displaying Kalshi’s prediction market odds for FIFA World Cup matches in ChatGPT search results, while TradingView said the feed is intended to bring institutional-grade infrastructure to industry participants.
