ION partners with Coinbase to support Kalshi’s event contracts

ION, a global leader in trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates, announces that Coinbase has selected ION’s XTP for Event Contracts to support event contract clearing for Kalshi, the world’s largest prediction market.

Event Contracts is ION’s latest extension to its flagship XTP solution, offering a fully automated, real-time platform for the creation, resolution, and settlement of event-based contracts. It provides Coinbase with the ability to confidently support execution and processing of event contracts in real-time with minimal impact to existing operational processes while supporting real-time contract design capability, onboarding of tens of thousands of accounts per day, and fully automated 24/7 processing.

ION and Coinbase partnered to support Kalshi’s listing of event contracts in December 2025. XTP’s modern architecture has enabled the adoption of an accelerated deployment timeframe through three-way collaboration between ION, Coinbase and Kalshi, who worked to expedite analysis, development, and rollout. During the initial rollout, XTP demonstrated its ability to support high-volume activity for Kalshi, including processing its first one million trades over Super Bowl weekend.

Read More on Fintech : Global FinTech Interview: AI and the future of fintech with Hugh Cumming, CTO, Vena

XTP for Event Contracts provides Futures Commission Merchants (FCMs) with a unique opportunity to run event contracts alongside existing ETD and cOTC business in a single solution, thanks to native reporting, automated settlement, and multiexchange connectivity. The result is fast onboarding, low operational lift, and seamless scaling as the volume grows. Already relied upon by leading FCMs, XTP now brings the same robustness and real-time processing to the fast-growing prediction market sector.

Toni Gemayel, Head of Prediction Markets at Coinbase, said: “Partnering with ION provides the operational infrastructure needed to support our expanding event contracts business. XTP’s real-time processing capability allows us to manage growing prediction market volumes while maintaining the back-office stability and execution standards.”

Max Crowley, Vice President of Business Development at Kalshi, said: “We’re excited that XTP can support Kalshi and Coinbase FCM in this offering. Safe and regulated markets require not only strong exchange rules and oversight, but also sound operational risk management and processing such as that provided by XTP.”

Samuel Shorthouse, Head of Client Engagement, Cleared Derivatives at ION, said: “We are pleased to partner with Coinbase and Kalshi as they expand access to regulated event‑based markets at a time when this sector is evolving rapidly. Deploying XTP to support these workflows provides a robust and trusted foundation with real‑time capabilities that help clients manage their activity effectively. This collaboration reflects our commitment to supporting the growth of this emerging market in a secure, scalable, and sustainable way.”