TLDR
- Pyth Network integrates Kalshi’s regulated event market data onchain.
- The partnership streams real-time prediction market data across 100+ blockchains.
- Kalshi’s prediction market data now available for decentralized finance applications.
- Kalshi expands globally, providing regulated event data to developers and institutions.
Pyth Network has teamed up with Kalshi to bring real-time, regulated prediction market data onchain, a significant step in expanding the financial data ecosystem. This collaboration introduces a new layer of market data by making prediction markets, covering events like elections, sports, and economic trends, available for decentralized applications. For the first time, this data will be distributed at scale across more than 100 blockchains, empowering developers and institutions with enhanced tools for building innovative financial products.
Pyth Network and Kalshi’s Partnership
Pyth Network, known for providing institutional-grade financial data onchain, has formed a partnership with Kalshi, a regulated prediction market exchange. Kalshi is the first CFTC-regulated platform in the U.S. offering markets for predicting real-world events such as elections, inflation rates, and sports outcomes.
The new collaboration aims to integrate Kalshi’s event-driven data into Pyth’s decentralized oracle network, which will allow developers and financial institutions to incorporate real-time prediction market prices into their decentralized applications (dApps).
This move marks a significant step in the world of decentralized finance (DeFi), where access to reliable and up-to-date data is crucial for building effective applications. With the addition of Kalshi’s market data, Pyth is expanding its data offerings beyond traditional asset prices to include predictions about political, economic, and cultural events.
Real-Time Event Data for DeFi
Through this partnership, the Pyth Network will distribute Kalshi’s regulated event market prices to over 100 blockchains, making it easier for DeFi developers and other blockchain-based projects to utilize real-time prediction market data.
By streaming event outcomes such as election results or sports championships, the collaboration introduces a new category of financial data onchain, which could drive new use cases in decentralized applications. This integration provides a trusted source of data for onchain applications, giving developers access to high-quality prediction market prices.
Mike Cahill, CEO of Douro Labs, which contributes to Pyth, explained, “Partnering with Kalshi, the leading regulated event exchange, underscores our vision to be the most comprehensive and resilient financial data ecosystem in the world.” He further emphasized that this collaboration aligns with Pyth’s goal to provide developers with the necessary data infrastructure for building financial products powered by prediction markets.
New Opportunities for Developers and Institutions
The new integration gives developers a trusted, composable source of event data, which is essential for creating innovative financial products. By making Kalshi’s prediction market data available onchain, Pyth opens up new opportunities for decentralized finance applications that require real-time probabilities of future events.
This development could lead to the creation of novel financial instruments, such as event-driven derivatives or prediction market-based financial products.
In addition to offering new tools for developers, this integration provides institutions with a reliable stream of regulated event data. As Kalshi is regulated by the Commodity Futures Trading Commission (CFTC), its data carries the credibility and oversight required for large-scale institutional adoption. By leveraging this data, institutions can gain deeper insights into market expectations around future events and incorporate them into their strategies.
Kalshi’s Global Expansion
Kalshi’s reach is not limited to the U.S. market. Recently, Kalshi expanded to 140 countries globally, further solidifying its position as a leader in regulated prediction markets. This international expansion follows a recent funding round where Kalshi raised $300 million at a $5 billion valuation.
By making its data available on the Pyth Network, Kalshi enhances its global accessibility, enabling developers and financial institutions worldwide to leverage its prediction markets for building more informed, event-driven financial products.
This expansion marks a step forward in the growing field of prediction markets, which have gained prominence in various sectors, including politics, sports, and economics. The partnership between Kalshi and Pyth positions them as key players in bringing real-time event-driven data to the decentralized finance ecosystem.
