Tradeweb Markets Inc. , a major global electronic marketplace operator in rates, credit, equities, and money markets, and Kalshi, the largest regulated prediction market, have announced a strategic partnership aimed at dramatically growing institutional investor access to event, driven predictive data and analytics. On top of this, Tradeweb and Kalshi are also working together to deepen their synergies in the prediction market space. As part of this collaboration, Tradeweb has made a minority investment in Kalshi, which is a testament to the two companies’ joint determination to develop prediction markets with institutional, grade infrastructure.
As institutional participants increasingly seek high-quality forward-looking signals to help manage risk, this new alliance intends to combine Kalshi’s leading real-time probability data with Tradeweb’s established global distribution and electronic trading capabilities. The partnership aims to make probabilistic market signals more accessible and actionable for institutional traders across macro markets.
Expanding Access to Real-Time Event Data
A first priority of the collaboration will be integrating Kalshi’s real-time event probabilities and predictive market data into Tradeweb’s rates and credit marketplaces. This integration will span user interfaces, APIs, and data-download tools, enabling seamless access for institutional users.
In parallel, both organizations plan to jointly develop new institutional-grade analytics that blend Kalshi’s event probability data with Tradeweb’s existing pricing, liquidity, and macro-intelligence datasets. These tools are expected to enhance institutions’ abilities to forecast events, manage risk, and inform pricing models.
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Developing Institutional Event-Contract Trading Frameworks
Beyond data and analytics, the partnership will explore creating a dedicated institutional portal for event contracts, using Tradeweb as the front-end platform and Kalshi’s prediction market engine as the underlying infrastructure. Targeted contracts will include macroeconomic releases, Federal Reserve policy outcomes, political developments, and other key market events.
Executive Perspectives on the Partnership
Billy Hult, CEO of Tradeweb, highlighted the potential impact of prediction markets in institutional workflows: “Prediction markets are increasingly becoming a key part of the trading landscape, and have the potential to become an indicator for institutions to dynamically assess macro risk and allocate capital more effectively. As a leading global operator of electronic marketplaces across asset classes, Tradeweb has invested in Kalshi based on our belief that the institutional trading stack will soon evolve to pair high-quality event data with modern market structure. Together, we’re positioned to deliver prediction markets intelligence to clients and, over time, build the prediction markets trading infrastructure that meets the standards of our institutional community.”
Tarek Mansour, Co-Founder & CEO of Kalshi, spoke to the evolution of market demand: “I witnessed the institutional demand for prediction markets firsthand ten years ago. Investors were trying to figure out how to price and manage risks related to Brexit and the upcoming election. Institutional adoption requires scale, regulation, trust, and substantial liquidity. Today, Kalshi has the scale, breadth of markets, and liquidity required to help institutions manage the risks they face. Partnering with Tradeweb will help us accelerate the adoption we are seeing.”