Kalshi is in the process of creating a terminal-style platform aimed at active traders, which will feature real-time market tracking and visibility of order books. This new offering is set to expand beyond its primary prediction market services, as reported by various media outlets.
Described as the prediction market's counterpart to the Bloomberg Terminal, which is prevalent in traditional equity and derivatives trading, the platform is currently undergoing alpha testing with a select group of traders, according to CNBC. Development has been ongoing for approximately a month.
The platform is tailored for Kalshi's most active retail traders, often referred to as 'sharps,' who typically utilize custom workflows to enhance their trading efficiency and spot opportunities across various markets.
Users will have the ability to monitor contracts by their 24-hour trading volume across different categories. The interface allows traders to view real-time transaction data, track individual contract order books, and personalize dashboards to showcase event contracts related to their portfolios.
This system also facilitates the management of multiple positions across various markets at the same time. Additionally, traders can enable a feature designed to streamline the trading process.
Sources who spoke to CNBC on the condition of anonymity were unsure if Kalshi plans to monetize this product at launch or at a later stage.
In the long run, the platform may integrate research tools and external data sources. This initiative has been likened to Bloomberg’s trading platform, which is extensively utilized by participants in the financial markets.
Kalshi's market data is currently accessible through Bloomberg’s system. Despite transitioning from proprietary hardware to software many years ago, Bloomberg’s platform is still referred to as a 'terminal.'
Initially, this terminal will focus on prediction markets, although reports suggest that the company aims to extend its functionality to other asset classes in the future.
This development follows closely on the heels of Kalshi's recent announcement of two new offerings. Last week, the company revealed it had received approval to provide perpetual futures on cryptocurrencies.
Just a day prior, Kalshi launched its American Power Index, which it describes as a real-time gauge of political power derived from its own data.