Kalshi Further Expands Sports Market Offerings
Kalshi is doubling down on sports-based event contracts, just a week after launching its first-ever sports prediction markets. The company has now filed a new proposal with the Commodity Futures Trading Commission (CFTC) to introduce contracts allowing users to bet on whether a specific athlete or team will achieve a milestone.
This move comes at a time when political and regulatory winds are shifting, especially with Donald Trump back in the White House and a new CFTC chair, Caroline Pham, leading the agency. Unlike her predecessor, Pham favors regulation over outright bans, signaling a potential breakthrough for event-based trading.
Kalshi’s New Sports Contracts – How They Work
Kalshi’s latest proposal introduces “Will <achievement> be held by <participant>?” contracts, which allow traders to bet on individual or team accomplishments in major U.S. sports leagues. These binary event contracts operate similarly to prediction markets, where users win a fixed payout of $1 per correct bet.
Key details of Kalshi’s plan:
- Scope – Covers achievements like MVP awards, championship wins, and statistical records.
- Pricing – Contracts range from $0.01 to $0.99, based on market probability.
- Data Verification – Outcomes will be verified using ESPN, Associated Press, The Wall Street Journal, and Fox Sports.
- Restrictions – Players, coaches, and league employees are banned from participating to avoid integrity concerns.
Kalshi’s confidence in pushing for broader sports betting markets reflects a changing regulatory landscape, with Trump’s administration likely to take a more business-friendly approach.
Why Kalshi Is Expanding Now
Several factors have emboldened Kalshi to expand its sports contract offerings at this moment:
- Trump’s Return to Office – The previous Biden administration was hostile to event-based contracts, blocking several proposals. With Trump back, markets expect a more lenient regulatory stance.
- New CFTC Leadership – Caroline Pham, a Trump appointee, now leads the CFTC and has publicly stated that the agency should regulate these markets rather than ban them outright.
- Momentum from Recent Launch – Kalshi launched its first sports prediction markets last week, and strong demand has encouraged the company to push further into the space.
While Kalshi is optimistic, CFTC’s final ruling remains uncertain. In the past, the agency tried to block Crypto.com from offering similar sports contracts, citing legal concerns. However, Pham’s appointment suggests a shift toward structured oversight rather than a blanket prohibition.
Recommended