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Trajectory List
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Kalshi

Kalshi is the first and largest CFTC-regulated prediction market exchange in the United States. It lets anyone trade binary "event contracts" — essentially yes/no bets on the outcome of real-world events — covering sports, politics, economics, weather, tech, AI, and culture. If you think the Fed will cut rates next month, you buy a contract; if you're right, you get paid out. Kalshi spent years fighting the CFTC in court to legalize this category, and that federal license now gives it 50-state access that state-licensed sportsbooks cannot easily replicate. The platform makes money through exchange-style trading fees (not a bookmaking spread). Retail traders use the app directly; Robinhood and Webull users can access Kalshi markets through their existing brokerage accounts. Sports contracts — think game outcomes and parlays — are the dominant revenue driver, with over 1,900 active markets. Kalshi describes itself as "the fastest growing financial market in America" and is now pushing to become the standard infrastructure layer for event-based trading globally.

$22B valuation · 525 employees · 27 open roles

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