Overview
Kalshi is the leading CFTC-regulated prediction market in the United States, operating as a designated contract market for event contracts. Unlike Polymarket (which is blockchain-based), Kalshi operates traditional financial infrastructure with USD settlement. Its REST API gives agents programmatic access to market data, order management, and portfolio tracking.
For agents that need to operate within a fully regulated US framework, or that prefer traditional financial rails over crypto, Kalshi is the primary option.
Key Features
Regulated US exchange — CFTC-regulated as a designated contract market. Event contracts are derivatives, not gambling. Important for compliance-conscious operators.
REST API — Standard HTTP API with JSON responses. Supports market listing, order placement (market and limit), position management, and account management.
USD settlement — Operates in US dollars via bank transfer or card. No crypto, no USDC, no gas fees.
Broad market coverage — Politics, economics (Fed decisions, GDP, inflation), weather, sports, entertainment, and more. Often offers markets that Polymarket doesn’t.
Real-time data — WebSocket feeds for live order book updates and trade streams.
Agent-Friendliness
| Aspect | Rating |
|---|---|
| API quality | Good — standard REST with clear docs |
| Authentication | Email/password login, session tokens |
| JSON support | Yes — all endpoints return JSON |
| Documentation | Good — trading-api.readme.io |
| Read-only access | Requires authentication for all endpoints |
| Regulatory clarity | Excellent — fully CFTC-regulated |
Pricing
No platform fee for account creation. Per-contract trading fees apply. See Kalshi’s fee schedule for current rates.
Links
- Website: kalshi.com
- API docs: trading-api.readme.io
Best For
Agents that need US regulatory compliance, prefer USD settlement, or want access to Kalshi-exclusive markets (particularly economics and weather). Also suitable for arbitrage agents that compare prices across Kalshi and Polymarket.