Brandon Beckhardt

Building Prediction Markets

[Brandon Beckhardt @bebeckhardt]

There’s been a lot of noise and confusion around prediction markets lately.

We can’t let a few bad actors taint the entire space.

There's a lot of misinformation right now, so we took out a four-page Washington Post spread to set the record straight.

Here's the reality: the headlines about insider trading, war, and death markets are overwhelmingly about Polymarket, whose business is primarily (90%+ of all volume) offshore and based in Panama.

Regulated exchanges - like Kalshi, Robinhood, and CME - operate under U.S. law with strict safeguards, which include:
1. Requirements to ban insider trading and manipulation
2. Bans on war markets
3. Bans on death markets
4. Requirements to verify customers and know who's trading to avoid bad actors

If you want insider trading and war markets to stop, target the source - not the regulated U.S. exchanges.

[Kalshi @Kalshi]

Not all prediction markets are the same.

Some are regulated in the United States. Some aren’t.

Kalshi is.

Rule #1: We ban insider trading. And we enforce it.

[Brandon Beckhardt @bebeckhardt]

@TheNotoriousSKi @nypost 😂

[Charlie @_charlienoyes]

Perps have officially made it to America. After so many years, it feels hard to believe.

This magical product experience will delight millions of users and reshape our financial system.

Hats off @mansourtarek_ @luanalopeslara @liorhir and everyone else who made this possible.

[FearBuck @FearedBuck]

Giannis Antetokounmpo stars in a Grease-inspired 1950s-style ad, showing off his best ’50s dance moves for Kalshi 🔥

[Tarek Mansour @mansourtarek_]

1992: Robert Shiller introduces the concept of perpetual futures.

2026: The first American perpetual future trade in history.

34 years in the making.

[Giannis Antetokounmpo @Giannis_An34]

I love coming home @kalshi

[Kalshi @Kalshi]

Bitcoin Perpetuals are now live for trading.

The First American Perpetual Future.

Only on Kalshi.

[Kalshi Politics @KalshiPolitics]

BREAKING: Steve Hilton (R) has an 86% chance to advance in the California Governor election

[Kalshi Politics @KalshiPolitics]

BREAKING: Spencer Pratt’s odds to advance in the LA mayor race rise to 84% as of 11:40 PM ET

[PredictionMarketTrader @PredMTrader]

Zach Lahn has flipped Trump-Endorsed Randy Feenstra to become the favorite for Iowa Governor nominee

Pretty shocking stuff - Still more votes to be counted

[Galaxy @galaxyhq]

Today, we're launching institutional OTC prediction markets trading through our Global Markets desk.

Hedge funds, family offices, and other institutional clients can now access prediction market liquidity at sizes and with a level of discretion suited to institutional scale.

[Luana Lopes Lara @luanalopeslara]

KOBRA

[*Walter Bloomberg @DeItaone]

KALSHI TAKES AIM AT WALL STREET

After disrupting sportsbooks, prediction market platform Kalshi is now challenging traditional exchanges. Following CFTC approval, Kalshi became the first U.S. venue to offer Bitcoin perpetual futures—leveraged contracts with no expiration date. The move has rattled investors, with exchange stocks sliding as competition intensifies.

Valued at $22 billion, Kalshi aims to become a full-scale derivatives exchange and has already filed to list additional crypto perpetuals. Supporters say regulated perpetuals could bring a massive offshore market into the U.S. financial system.

[Morning Brew Daily @mbdailyshow]

Finally a reason to go to the Upper East Side

[a16z crypto @a16zcrypto]

https://t.co/k8XWT4qoTT

[Jeffrey Reitman @JeffreyReitman]

Enabling everyone in the world to hedge outcomes was always the main vision that @mansourtarek_ pitched back in 2020.

Awesome to see it trickle down to SMB owners. Bullish

[Kalshi @Kalshi]

BREAKING: Spencer Pratt says LA votes for Pratt or it "votes for death"

75% chance he advances

[The Jeffrey NYC @TheJeffreyNYC]

Come watch Game 1 of the NBA Finals at The Jeffrey on Wednesday. If the Knicks win, we’ll pick up your tab!!

Offer valid during the game only for guests who arrive before the tip. Up to $100 per guest. Tax and gratuity not included. Drink responsibly. No purchase necessary.

[Brandon Tatum @TheOfficerTatum]

🚨JUST IN: Kalshi currently gives Spencer Pratt an 81% chance of advancing in the Los Angeles Mayoral election.

The momentum is real.

LA voters may be sending a strong message that they are FINISHED with these corrupt politicians ruining their city!

[Kalshi Politics @KalshiPolitics]

“Kalshi, again, that’s not a poll.”

Spencer Pratt explains why he doesn’t believe the polls that have him at 22%.

Traders are forecasting him getting 29.5%