Kalshi, a U.S.-regulated prediction market exchange backed by Donald Trump Jr., has announced a partnership with Pyth Network to deliver real-time, on-chain event data to over 100 blockchain ecosystems. The collaboration merges Kalshi’s regulated event-based trading infrastructure with Pyth’s decentralized oracle network, creating what the firms describe as the first large-scale integration of federally regulated prediction data into blockchain systems.
Bringing Regulated Prediction Markets to Blockchain
The initiative arrives at a defining moment for the prediction market industry, with platforms like Polymarket also expanding their presence in the United States. These platforms enable users to speculate on future outcomes—ranging from political elections and sports results to economic policy shifts. Kalshi’s collaboration with Pyth Network aims to extend this model by allowing developers to integrate verified event probability data directly into decentralized applications.
Through the integration, live Kalshi markets such as the New York City mayoral race, the Formula 1 Drivers Championship, the Major League Baseball championship, and the number of interest rate cuts expected in 2025 are now available via Pyth’s oracle feeds. This data is derived from Kalshi’s markets, where traders’ activities generate market-based probability signals. By converting these probabilities into on-chain data, the partnership enables blockchain developers to use verifiable, real-time information in decentralized finance (DeFi), risk management, prediction protocols, and governance systems.
Turning Market Signals into Verifiable Data
Kalshi operates as a Designated Contract Market regulated by the U.S. Commodity Futures Trading Commission (CFTC). It is one of the few federally approved exchanges dedicated exclusively to trading event contracts. The platform allows traders to buy and sell positions based on real-world events, such as Federal Reserve policy decisions or presidential elections. These markets effectively turn public sentiment into quantifiable, market-driven probabilities that can now be transmitted across blockchain networks.
Kalshi’s team emphasized that integrating its markets with oracles represents the first step toward bringing its event-trading data fully on-chain. The goal is to allow developers and institutions to create new blockchain applications powered by trusted, real-world event information.
For Pyth Network, which already distributes high-quality price feeds from more than 100 publishers in traditional finance and crypto markets, the inclusion of event-based data marks an important evolution. It extends Pyth’s data scope beyond financial assets, introducing new data primitives that bridge economic activity with real-world occurrences. This integration enables the blockchain ecosystem to treat events themselves as liquid, tradable assets.
The @PythNetwork oracle integration represents the first step in bringing Kalshi onchain
Now builders have a new tool at their disposal: Kalshi data, anywhere
Start building and join our builders program! https://t.co/TYylHchXRp
— Kalshi Ecosystem (@KalshiEco) October 13, 2025
Expanding Global Reach and Industry Impact
Kalshi recently disclosed that it raised $300 million in funding from major investors, including Sequoia Capital, Andreessen Horowitz, Paradigm, and Coinbase. The company now plans to extend its reach to 140 countries, reinforcing its position as a global leader in regulated prediction markets. Earlier in the year, Donald Trump Jr. joined Kalshi as a strategic adviser, adding political visibility and momentum to its broader expansion strategy.
The partnership with Pyth is expected to catalyze new innovations in decentralized applications. Developers may use Kalshi’s event data to design blockchain-based insurance products linked to policy decisions, derivatives tied to election outcomes, or hedging instruments that respond to macroeconomic indicators. By transforming regulated event data into open blockchain infrastructure, the collaboration could lay the foundation for a new class of financial tools driven by real-world probabilities.
Navigating Regulatory and Ethical Challenges
Despite its growing legitimacy, the event-trading sector continues to attract scrutiny from regulators and policymakers in Washington. Political betting and prediction markets remain a contentious subject, with ongoing debates about their ethical boundaries and societal implications. Both Kalshi and Polymarket, which recently received approval to operate in specific U.S. jurisdictions, are now operating under heightened observation as regulators assess how these platforms shape the future of decentralized event-based markets.
As the integration between Kalshi and Pyth unfolds, the financial and blockchain industries are closely monitoring how regulated prediction data will transform decentralized finance and on-chain analytics, potentially redefining how markets interpret and trade on real-world information.
