Kalshi

Kalshi is a CFTC-regulated event derivatives exchange where users trade binary contracts (yes/no) on real-world outcomes

## Executive Summary Kalshi is a U.S. regulated prediction market exchange where users can trade on the outcomes of real-world events. Instead of traditional financial assets, traders on Kalshi buy and sell contracts that represent an "yes" or "no" outcome to specific questions, such as "Will the price of crude oil be above $80 by [date]?" or "Will [political candidate] win the upcoming election?". The platform aims to provide a new class of financial instruments that allow individuals to hedge against or speculate on events with tangible real-world implications, moving beyond traditional asse