Kalshi launches 'Pro' product for users trading multiple markets at same time, perpetual futures
The platform is designed to alleviate problems the company's most active traders have run into, according to a memo provided to CNBC.
The platform is designed to alleviate problems the company's most active traders have run into, according to a memo provided to CNBC.
Prediction market platform Kalshi is launching a product for its highly active traders on Monday, the company told CNBC.
Kalshi Pro, now available to the public, is designed for speculators who trade multiple markets at the same time and or move with speed during live events, according to a memo provided to CNBC. The platform is also designed to support those who run resting orders, trades that don't execute until certain prices are met, the memo said.
CNBC reported in the beginning of June that Kalshi was working on a terminal for its high-end traders. Kalshi confirmed the product's development at an event later that month. While publicly available, the Pro product remains in beta testing.
The platform also allows traders to see a continuous feed of all public trades, have a better view into individual contracts' order books and provides a simpler way to examine multi-leg contract trades, the memo said.
The product is a response to the fact that many of Kalshi's most active traders have created their own software and workflows to help manage their trades and gain an edge. Kalshi Pro is a product to create a more central platform for these speculators. It's not clear whether Kalshi will seek to monetize the product at some point.
Kalshi Pro also will feature new utilities for those trading on the company's perpetual futures , colloquially known as "perps," product. That includes "terminal-grade" charting, and new ways to manage risks on traders' perps positions, according to the memo.
"Kalshi's active traders are already trading prediction markets and perpetuals like Wall Street trades equities and bonds," said Andy Chang, the Kalshi Pro product lead, in a statement. "We built Pro to give them the cockpit they deserve."
Disclosure: CNBC and Kalshi have a commercial relationship that includes customer acquisition and a minority investment.
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