Kalshi, a U.S.-regulated prediction market platform, has recently partnered with blockchain oracle service Stork to provide price feeds for decentralized exchanges and blockchain networks. This collaboration is expected to power perpetual futures contracts linked to prediction markets, enabling developers to create crypto applications based on Kalshi’s market data.
In addition to supplying price feeds to Stork, Kalshi has begun accepting deposits of USDC, a stablecoin pegged to the U.S. dollar. This move allows traders to deposit and withdraw funds easily on the platform.
The growing interest in prediction markets, fueled by the success of platforms like Polymarket, has led to a surge in trading volume, particularly around events such as the U.S. presidential election. With the recent introduction of presidential election contracts on Robinhood, there is a clear demand for innovative prediction market offerings.
Looking ahead, Kalshi and Stork envision expanding their collaboration to include resolution services for decentralized prediction markets. This would involve Kalshi making final calls on the outcomes of various events, ensuring fair and transparent resolution for users.
By being regulated by the U.S. Commodity Futures Trading Commission, Kalshi aims to provide a secure and reliable platform for traders. The company’s commitment to fair resolution practices and transparency sets it apart from other prediction market providers.
While initially offering its data to Stork’s network for free, Kalshi sees this partnership as an opportunity to attract more traders to its centralized platform. With liquidity not being a concern, thanks to traders like Susquehanna participating on the platform, Kalshi is well-positioned to capitalize on the growing interest in prediction markets.
As prediction markets continue to evolve, there is a possibility of expanding into social prediction markets where small groups of friends can create their own betting pools. Additionally, there is interest in launching prediction markets focused on sports events, showcasing the versatility and potential of this emerging market.
With Kalshi’s recent legal victory allowing it to list political event contracts, the platform is poised for further growth and expansion. By offering a diverse range of prediction markets, including those related to cryptocurrencies like bitcoin and ether, Kalshi is catering to a wide range of traders and investors.
Overall, the collaboration between Kalshi and Stork represents a significant step forward in the development of prediction markets within the cryptocurrency industry. By providing reliable price feeds and resolution services, these platforms are paving the way for a more secure and decentralized prediction market ecosystem.