Bankless(@Bankless):.@Kalshi isn’t trying to become the biggest prediction market. The ambition is much bigger: “Our ultimate goal is to be the largest exchange on the planet.” “We own the trader relationship.” “We also, I think, have a leading position in the two newest asset classes… prediction markets and perpetual futures.” “That’s our foot in the door when it comes to really having a fighting chance at getting to that stage.”

2026.09.01 18:59

.@Kalshi isn’t trying to become the biggest prediction market. The ambition is much bigger: “Our ultimate goal is to be the largest exchange on the planet.” “We own the trader relationship.” “We also, I think, have a leading position in the two newest asset classes… prediction markets and perpetual futures.” “That’s our foot in the door when it comes to really having a fighting chance at getting to that stage.”

Bankless@Bankless

2026.09.01 12:00

NEW EPISODE - "We Want to Be Bigger Than the CME" @Kalshi is moving far beyond prediction markets. @j0hnwang joins @TrustlessState to unpack its regulated crypto perps push, why regulation could be its biggest competitive advantage, and how event contracts could evolve into serious institutional hedging infrastructure. They also debate prediction markets’ insider trading problem, preview gold and silver perps, and address the rivalry with @Polymarket, including Kalshi’s claim that its crypto volume is now 10x larger. CHAPTERS --- 0:00 Is Kalshi a Crypto Company? 3:56 Global Expansion and the Regulated Edge 14:55 The Regulated Perps Bet 21:38 Combining Perps and Predictions 27:51 The Insider Trading Problem 38:50 Who Owns Market Information? 45:58 From Sportsbooks to the CME 55:24 Prediction Markets for Institutions 1:02:40 Kalshi Versus Polymarket