AltStreet
Prediction Markets — Binary Event Contracts and Crypto Perpetuals

Kalshi

Kalshi is the CFTC-regulated exchange where anyone 18+ can trade binary event contracts on elections, economics, weather, and — controversially — sports, plus leveraged crypto perpetuals since mid-2026. It is a trading venue, not an investment: AltStreet's own 15,685-market study found no exploitable edge after fees, the genuine use case for alternative investors is precision hedging, and the venue itself now sits at the center of the widest unresolved legal fight in retail markets. AltStreet's census of the federal docket record finds 80 matters naming a Kalshi entity across 41 courts and 8 circuits, 55 of them open, and 25 brought by Kalshi itself against state officials.

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Platform Identity

Website
kalshi.com
Headquarters
New York, US
Founded
2018
Platform type
CFTC-Designated Contract Market (Event Contracts & Perpetual Futures)
Eligibility
retail

AltStreet Coverage

Review status
Published
Coverage type
Investment platform
Review date
Aug 30, 2026
Last updated
Sep 29, 2026
Composite score
5.4
Structural signals
1 critical2 warning8 total

Key Data Points

EDGAR-linked offerings
1
Filing-verified raised
$2.47B
Investors disclosed
188
TVL snapshot
$19.98M
Jul 31, 2026

Reference Reading

AltStreet reference pages on the filings and mechanics behind this platform's category.

Form D Private PlacementRule 506(b) and 506(c)Accredited InvestorSIPC Protection

Other Prediction Markets — Binary Event Contracts and Crypto Perpetuals Platforms

Polymarket

Polymarket is the world's largest prediction market by its own description — and it is really two venues under one brand: an international crypto exchange settling in USDC-backed pUSD on Polygon with UMA oracle resolution, and Polymarket US, a CFTC-designated contract market (QCX LLC) that relaunched US trading in December 2025 with USD accounts and rule-based settlement. Neither venue sells investments: every contract is a priced position against another trader. Between the $1.64 billion ICE has invested, an active CFTC probe opened in June 2026, a Nevada restraining order, and the same state-law war Kalshi is fighting, understanding which Polymarket you are using — and what each one's rules actually say — matters more here than on any platform AltStreet covers.

Prediction-Market Venues (International Crypto Exchange + CFTC-Designated Contract Market)
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