Kalshi Launches Midterms Hub to Own U.S. Election Odds
The prediction market launched a live map of Senate and House races, part of a push to make its odds the default read on the November midterms.
Kalshi wants to be where you check the midterms, not just where you bet on them. The prediction market platform rolled out a U.S. Midterms Hub on Wednesday, a live map of Senate and House races that shows the odds traders are putting on each contest as the country heads toward November. The company is betting it can become the default reference for U.S. election odds.
What the hub shows
The pitch is a single reference point. Kalshi calls it a one-stop shop for election forecasting, a live snapshot of where each race stands based on the latest market odds laid across a map of the country. Glance at one page and you can see where a given Senate or House seat is leaning. It sets those odds next to polling averages, so users can see where the money and the pollsters disagree. FEC fundraising reports for each candidate and curated news from outside outlets fill out every race page.
The political land grab
This is the newest piece of a deliberate push. In May, Kalshi launched the American Power Index, which it billed as the "S&P 500" for politics, a single gauge of which party is up and which is down. The hub takes that idea and splits it race by race, right as campaign season heats up.
Politics is still the small book, though. Kalshi posted $31 billion in notional trading volume in June, more than 70% above May, but sports carried the quarter. Game contracts made up roughly 85% of the total, and World Cup markets alone drew $22.42 billion, the company told CoinDesk. Elections are the story Kalshi wants to tell. Sports are the one paying the bills.
More than elections
The ambition runs past November. Kalshi is seeking CFTC approval to extend perpetual contracts, the never-expiring derivative popular in crypto, to gold, silver and platinum, a bid to take the instrument outside crypto, Bloomberg reported Tuesday. The push lands a month after reports that the company was raising fresh capital at a roughly $40 billion valuation, nearly double the $22 billion it chased in its previous round.
Sources
- Kalshi rolls out Midterm Hubs ahead of the November elections in the U.S.
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