Talos Brings Prediction Markets Onto Institutional Trading Infrastructure

New integration connects institutional algos, block trading and retail distribution to Kalshi’s prediction and perpetual markets

Talos, the premier provider of institutional digital asset infrastructure, technology and data supporting the full investment lifecycle, announced an integration with Kalshi, the next-generation financial exchange. Using the same Talos interface used to trade digital assets today, select institutional clients will be able to trade Kalshi’s event contracts and crypto perpetuals with no separate integration required.

Prediction markets and US-onshore perpetuals are emerging as important institutional markets and require institutional-grade tools to support participation. Kalshi’s regulated clearing structure gives institutions a similar framework they use in traditional options and futures markets. Talos is launching two major capabilities to bring familiar tooling to their workflows.

For on-exchange trading, clients such as market makers and hedge funds have access to the Talos algo trading suite, including Iceberg, Pegged, Sniper, TWAP and POV, designed to work orders while minimizing market impact. Talos’s multi-leg execution suite extends this to spread trading: clients can construct perp-to-perp and perp-to-spot spreads within a single order, supporting basis and funding-rate arbitrage strategies as onshore perpetuals scale. Talos intends to support prediction-market-to-perpetual multi-leg spreads in the future.

In parallel, the Talos RFQ (request-for-quote) platform, the same system Talos’s ETF issuer clients use for create/redeem workflows, will provide a block trading interface for trading large sizes off-exchange, connecting to Talos’s network of OTC liquidity providers.

“As institutional interest in prediction markets accelerates, Kalshi’s regulatory standing as a CFTC-regulated exchange makes it a natural venue for that demand,” said Andy Ross, Head of Institutional at Kalshi. “Working with Talos gives our institutional buy-side and sell-side participants a path to Kalshi that fits inside the infrastructure they already run.”

“Kalshi has established a regulated structure to unlock US institutional participation in perpetuals and prediction markets,” said Anton Katz, CEO and Co-founder of Talos. “Trading is moving to 24/7, prediction use cases are growing rapidly, and every asset class is migrating to digital rails. We believe these trends will fundamentally change how risk is priced, hedged and settled across the market, and Talos is building for that future.”

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Cantor, the global investment bank within the Cantor Fitzgerald group of companies, advised Talos on aspects of the build-out of its institutional prediction markets functionality. “Prediction markets are emerging into a credible institutional asset class, and firms that engage early will help shape the market structure, liquidity and execution standards that underpin its growth. Cantor looks forward to working closely with Talos to advance institutional access to prediction markets,” said Matt DeCicco, Managing Director, Head of Digital Assets for Global Markets at Cantor.

Beyond institutional trading, Talos plans to extend its dealer software solution enabling brokers and trading platforms to offer Kalshi event contracts directly to their own end customers, depending on jurisdiction, later this year.

Talos also plans to offer a harmonized market data feed across prediction market venues, unifying events, trades, order books, open interest and implied probabilities under a single schema. Since venues represent binary outcomes differently, including Kalshi’s single market with two sides against other venues’ separate outcome tokens, comparing data across platforms today typically requires reconciling formats. Talos’s prediction markets data will be delivered through the same API clients already use for crypto market data. Talos anticipates Kalshi will be among the first venues supported.