Alpaca, a global leader in agent-first brokerage infrastructure, today announced a partnership with Kalshi, the world’s largest prediction market exchange, to bring prediction markets to Alpaca’s brokerage infrastructure.

The move marks Alpaca’s expansion into prediction markets with plans to add event contracts to the range of asset classes available through its API-first brokerage infrastructure. Through the partnership, Alpaca’s partners and users will be able to access Kalshi event contracts across categories including economic indicators, financial markets, weather, sports, and cultural events through the same infrastructure they already use for other financial products.

The expansion follows growing demand from Alpaca’s partners and users for access to more asset classes through a single integration. Alpaca supports more than 300 financial institutions, many of which use its infrastructure to build and offer financial products to millions of end customers. That demand comes as prediction market activity has surged, with over 40 billion dollars in trading on Kalshi in July, according to Kalshi data.

Kalshi is the world’s largest prediction market, having created and established the entire prediction market category. Users can trade on real-world events to predict the outcomes of events that have real-time market impact, such as elections, economic indicators, cultural moments, and more. Kalshi has become the definitive source for staying informed about the future and is used by reporters, politicians, pundits, Wall Street, and Main Street.

“Alpaca’s partners and users want to access more markets without having to build and manage a separate infrastructure stack for every asset class,” said Tony Lee, Chief Brokerage Officer at Alpaca. “Bringing Kalshi’s event contracts to Alpaca is a natural extension of that model, allowing access to more asset classes through the same infrastructure they already use.”

“Partnering with Alpaca is a significant step in expanding access to Kalshi markets in the US and around the world,” said Max Crowley, VP of Business Development at Kalshi. “Alpaca powers a fast-growing ecosystem of financial platforms, and together we can bring prediction markets directly into the products investors already use to trade and manage their money.”

Alpaca Derivatives LLC, Alpaca’s CFTC-registered Futures Commission Merchant (FCM), will integrate directly with Kalshi to provide access to Kalshi event contracts through Alpaca’s existing infrastructure. Alpaca will support custody, money movement, statements, and account management, while Kalshi will provide the regulated marketplace, event contracts, and clearing services.

About Alpaca

Alpaca is a US-headquartered, self-clearing broker-dealer providing global agent-first brokerage infrastructure that powers access to traditional and on-chain asset classes. Today, Alpaca supports over 10 million brokerage accounts across hundreds of fintechs and institutions in more than 40 countries, backed by $400 million in funding. For more information, visit alpaca.markets.

About Kalshi

Founded in 2018, Kalshi is the world’s next-generation financial exchange. Prediction markets provide accurate, real-time information on the likelihood of events, making humanity more informed about the future. As the first regulated exchange for events, Kalshi is credited with legalizing and establishing prediction markets as a financial asset class. It’s the leading safe and regulated platform, trusted by millions of people and a growing number of institutions in America. To learn more about Kalshi, visit www.kalshi.com.

Availability depends on Kalshi’s listed markets, regulatory requirements, and geographic eligibility.

Alpaca Derivatives LLC (NFA ID: 0576042) is registered with the Commodity Futures Trading Commission (“CFTC”) as a Futures Commission Merchant (“FCM”) and is a Member of the National Futures Association (“NFA”).

Alpaca Derivatives LLC has not yet commenced regulated business operations as a Futures Commission Merchant.

This material is not an offer, solicitation of an offer, or investment advice, and is not an offer to open an account in any jurisdiction where Alpaca is not authorized to do business.

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