Kalshi is preparing to launch event contracts that allow users to trade on multiple event outcomes, mirroring parlay offerings provided by sports betting operators.
In documents filed with the Commodity Futures Trading Commission (CFTC), Kalshi notified the regulatory agency that it is self-certifying event contracts that allow trading on multiple outcomes at once. Kalshi titled the market in the documents as “Will <outcomes> occur in <events>?”
Kalshi plans to offer the ready-made parlay-style contracts as early as Sept. 4, when the NFL begins a new season. When a registered designated contract market (DCM) self-certifies new contracts, the CFTC has 24 hours to review them before they can go live.
Kalshi considers events under its new market to include individual games, weeks of the season, drafts, full season and postseason play for all competitive events.
The market’s outcomes can include player and team statistics, awards, milestones, playoff outcomes and championships. Kalshi’s contracts that include multiple outcomes will be listed at values between $0.01 and $0.99 with users charged with standard fees.
Kalshi’s self-certification documents also indicate a football-specific rulebook titled FOOTBALLSTATS. The rules apply to football contracts with multiple outcomes offered by Kalshi and are only available to users 18 years and older. The contracts are banned for current and former players, coaches and staff of the NFL and NCAA football.
Paid employees of the NFL and owners of teams are prohibited from trading. The ban also includes the household members and immediate family of those who are barred.
Kalshi provides users with more options
Kalshi is planning to add new products to meet the demand from consumers and compete in a growing prediction market industry that is attracting operators, including FanDuel.
“The expansion is to meet the surging demand for legal and regulated choices, challenging the $84 billion illegal sports market and expanding access for Americans to a federally transparent, regulated, and supervised marketplace for sports trading,” said in a statement provided to SBC Americas last month.
Kalshi is gearing up to launch parlay-style contracts after a self-certification process for contracts on football games that resemble point spreads, point totals and touchdowns.
The prediction market also provided definitions and terms of the contracts that mirror bets.
Since its launch in 2019, Kalshi has facilitated more than $6 billion in total trading volume and has reached roughly three million users. Kalshi continues to diversify despite no resolution in sight for the several lawsuits it is facing regarding the legality of its contracts.
On an episode of iGaming Daily, Jones Walker partner and International Masters of Gaming Law (IMGL) President Marc Dunbar said he projects the legal debate to go all the way to the Supreme Court and that it could take two years before things are resolved.
