Glossary term
Kalshi
A US-regulated event-contract exchange operating under CFTC oversight; the leading onshore prediction market.
Kalshi is a U.S.-regulated event-contract exchange operating under CFTC oversight, making it the leading onshore prediction market for American users. Its regulated status differentiates it from offshore venues by offering legal clarity and fiat settlement, at the cost of a more constrained set of permissible contracts. Kalshi's CFTC battles over election contracts have been a defining storyline for the U.S. industry. See Prediction Markets 101.