Institutional digital asset trading platform Talos has integrated with regulated prediction market operator Kalshi, enabling professional traders to access event contracts and crypto perpetuals through their existing trading infrastructure. The partnership eliminates the need for separate API connections, streamlining access for hedge funds, market makers, and other institutional players looking to diversify into event-based markets.<\/p>\n
Under the new integration, Talos clients can deploy advanced algorithmic order types\u2014including Time-Weighted Average Price (TWAP), Iceberg, and Percentage of Volume (POV) orders\u2014directly to Kalshi’s markets. The platform also supports multi-leg execution, allowing traders to manage complex perp-to-perp and perp-to-spot spread trades. For larger transactions, institutional participants can execute block trades in Kalshi contracts via Talos’s request-for-quote (RFQ) system, utilizing participating over-the-counter (OTC) liquidity providers.<\/p>\n
Later this year, Talos plans to expand this capability by licensing its dealer software to retail brokers and trading platforms. This expansion will allow those platforms to offer Kalshi’s event contracts directly to retail clients, subject to local regulatory approval. Additionally, Talos is developing a unified prediction market data feed designed to standardize order books, trade data, open interest, and implied probabilities across multiple trading venues.<\/p>\n
The partnership comes during a period of unprecedented growth for prediction markets, which are increasingly viewed as alternative asset classes. According to data from cryptocurrency aggregator CoinGecko<\/a>, global notional trading volume in prediction markets surged to $113.8 billion in the second quarter, representing a 48.7% increase from the previous quarter. June alone set a monthly record with $52.8 billion in notional volume.<\/p>\n Much of this volume was driven by a heavy summer sports schedule, including major events like the UEFA Champions League, the NBA Finals, and Wimbledon. On Polymarket, sports-related contracts accounted for 81% of June’s trading volume, up from 40% in January. Meanwhile, Kalshi has solidified its dominant position, capturing 58.9% of the market share in the second quarter, up from 42.4% in the first quarter. Polymarket\u2019s share slipped to 30.2%, while Rothera\u2014a platform backed by Robinhood and Susquehanna International Group that launched in May\u2014secured fourth place with $2.1 billion in June volume.<\/p>\n