Kalshi Partners With Alpaca To Expand Event Contracts Internationally

According to CNBC, prediction market platform Kalshi is working with brokerage and financial infrastructure startup Alpaca to make its event contracts available to an international audience. Individuals and businesses using Alpaca's brokerage infrastructure will be able to access Kalshi's event contracts through the same technology used on Alpaca's platform for trading other assets. The move follows Alpaca's registration earlier this month with the Commodity Futures Trading Commission to become a U.S.-licensed futures commission merchant. Alpaca chief brokerage officer Tony Lee said the firm moved into prediction markets after seeing demand from users for access to event contracts. Kalshi vice president of business development Max Crowley said the partnership should help the company expand faster in markets where local regulatory approval is received. Alpaca has partnerships with more than 300 financial institutions and reaches 14 million brokerage accounts globally. Kalshi also partnered with Canadian financial firm Wealthsimple in June to bring its markets to Canada.