"We Want to Be Bigger Than the CME" | Kalshi's John Wang

— Kalshi is a regulated prediction market and perpetual futures exchange operating in 140 countries, with crypto as its second-largest business line and 90% market share in crypto predictions.

— Kalshi's regulated, onshore strategy contrasts with offshore competitors like Polymarket; the company leverages partnerships with Coinbase, Robinhood Crypto, and other major platforms to embed prediction markets and perps.

— Kalshi's perpetual futures platform is the first US-regulated perp exchange available on app stores for retail and compliant institutional access; crypto perps include Bitcoin, Ether, Solana, Doge, XRP, and others with self-certification authority following Bitcoin perp approval.

— Gold and silver perp markets are pending CFTC approval, with higher leverage limits planned for non-crypto assets; the company aims to expand into real-world assets (RWAs) where Hyperliquid already captures significant volume.

— Insider trading prevention and market integrity are central to Kalshi's growth strategy; the company defines insider trading per market, prevents certain persons (e.g., politicians) from trading political markets, and uses surveillance infrastructure to detect violations.

— Kalshi's roadmap unifies predictions and perps into a cohesive platform with social features, market expectation insights, and simplified UI; institutional block trades and weather hedges demonstrate enterprise adoption beyond retail sports betting.

— Kalshi's regulated perps platform offers competitive fees and leverage (6x for crypto, higher for RWAs) with liquidity deep enough to absorb six-figure orders; traders seeking regulatory compliance and institutional-grade infrastructure have a new venue.

— Prediction markets are climbing the capital stack toward CME-scale institutional use; custom OTC markets for carbon allowances, weather hedges, and politics prove demand exists for bespoke event contracts outside sports betting.