Outside Source
The partnership reflects a broader push by Kalshi to integrate its event contracts into brokerage platforms.
News
The Webull brokerage platform has partnered with the Kalshi prediction market to offer Kalshi’s event contracts to users directly on its trading platform.
According to a Feb. 12 announcement, the official rollout to Webull customers will occur over the next several weeks.
Users will initially have access to a limited set of cash-settled event contracts, with plans to expand and diversify the number of prediction markets available to customers over time.
Webull is the second broker to be onboarded as part of the prediction market’s push into broker integrations, despite pushback from financial regulators in the United States on sports-related event contracts.
Examples of sports-related event contracts offered by Kalshi. Source: Kalshi
Related: Crypto betting markets’ huge growth fuels calls for billion-dollar volumes in 2025
CFTC probes Super Bowl event contracts
In January, it was reported that the Commodity Futures Trading Commission (CFTC) — a US financial agency tasked with regulating derivatives markets — was considering launching a probe into centralized exchange Crypto.com’s planned Super Bowl contracts.
On Feb. 4, the CFTC officially opened a probe into the sports-related event contracts offered by Crypto.com and Kalshi to determine if they complied with existing derivatives laws.
The day prior, Kalshi had announced a partnership with the Robinhood brokerage platform to offer prediction contracts.
As part of the collaboration, Robinhood offered Super Bowl event contracts to its customers ahead of the big game.
However, the brokerage platform suspended its Super Bowl contracts on Feb. 4 — just one day after launching the products — due to a CFTC request to pause the activity.
At the time, a spokesperson for Robinhood expressed disappointment at the CFTC’s request.
“We had been in regular communication with the CFTC about our intent and plans to offer this product,” Robinhood’s communications team said.
Source: Robinhood
Although sports betting and sports-related event contracts share similarities, one key distinction sets event contracts and prediction markets apart from traditional sports betting.
Traditional sports betting relies on a bookkeeper to set the betting odds and organize markets, tilting the scales in favor of the bookkeeper or the betting house.
On the other hand, prediction markets resolve in a bottom-up, organic way that uses collective market intelligence to reach a consensus about a particular event.
Magazine: How to get better crypto predictions from ChatGPT, Humane AI pin slammed: AI Eye
This article first appeared at Cointelegraph.com News
