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Global capital markets technology provider Trading Technologies (TT) has become the latest infrastructure name to put its weight behind prediction markets, announcing today that it will give clients the ability to execute trades on a range of US-regulated event contract venues. The first of those connections is to federally regulated prediction market exchange Kalshi, with trading expected to go live on the TT platform in the third quarter.
Over the past six months, prediction markets have started being plumbed directly into the same execution, risk and reconciliation rails that institutions already use for futures, FX and crypto.
Kalshi first, with more venues to follow
TT stated that Kalshi is the opening move into prediction markets connectivity with more regulated prediction markets connections to follow. Traders accessing Kalshi through TT will be able to use the platform's existing execution and algorithmic trading toolset rather than learning a separate, retail-flavoured interface.
"Over the past several months, we've seen increased institutional demand among our clients for these growing markets, with a clear desire to ensure that they can employ the same advanced trading functionality they leverage in other asset classes." - Alun Green, EVP, Managing Director, Futures and Options, Trading Technologies
Andy Ross (@AndyRoss), Head of Institutional at Kalshi, said that the relationship with TT will accelerate the integration of Kalshi with man of the world's leading institutions:
"TT is a powerful brand in the derivatives market and will accelerate the integration of Kalshi with many of the world's leading institutions. It's another big step forward for Kalshi as it puts in place the essential infrastructure for being the next-generation derivatives exchange." Andy Ross, Head of Institutional at Kalshi,
The announcement follows TT's invitation-only Exchange Spotlight sessions in Chicago and New York for sell-side and buy-side leaders, which featured Cboe, ElectronX, GFO-X, Kalshi, MIAX and Rothera and ran through institutional adoption, the regulatory outlook, emerging trading strategies and the role of event contracts in risk management.
A scramble to connect institutions to event contracts
TT is arriving into a field that is filling up quickly. Last week, institutional trading and portfolio platform Elwood announced US connectivity to Kalshi, letting mutual clients manage event contracts through their own exchange membership using the same compliance layer, pre-trade controls, order and position management, risk analytics and reconciliation they already run across crypto, tokenised derivatives and equities, with venue access routed via FCM channels including Ripple Prime and Marex.
Last month, global brokerage Interactive Brokers (IBKR) went a step further on aggregation, launching a unified interface that lets clients search and trade contracts across Kalshi, derivatives exchange CME Group and ForecastEx from a single platform, with an order layer that routes to the venue offering the best net price and no requirement to open or fund separate accounts at each exchange.
Electronic trading platform Tradeweb announced in February a strategic partnership and minority investment in Kalshi, aiming to push prediction market data and event-driven risk signals into the core trading workflows used by its more than 3,000 institutional clients.
The data play: ICE and Polymarket
While Kalshi has attracted most of the execution-side connectivity, the data side of the market has been dominated by exchange and data group Intercontinental Exchange (ICE) and its relationship with prediction market platform Polymarket.
ICE has expanded its stake in Polymarket to roughly 1.6 billion dollars, against a commitment to invest up to 2 billion dollars, and in February launched its Polymarket Signals and Sentiment tool, becoming the exclusive distributor of normalised Polymarket data feeds to institutional capital markets. ICE Chief Executive Jeff Sprecher has gone further, placing prediction market data alongside traditional macro indicators and pointing to collaboration on onchain settlement and round-the-clock capital movement. Polymarket's own US standing has firmed up considerably, with its QCX entity holding CFTC contract market designation and a November 2025 amended order opening intermediated access through brokerages and FCMs.
Why now: volumes, valuations and a softer regulator
Global prediction market notional reached USD 25.7 billion in March 2026, up more than 10 per cent on February, with Bernstein projecting full-year 2026 volume of around 240 billion dollars, roughly 3.7 times the 2025 figure. Kalshi itself raised a 1 billion dollar Series F at a USD 22 billion valuation, after institutional trading volume surged 800 per cent in the preceding six months, and in March 2026 the CFTC signalled it would draft comprehensive rules for prediction markets rather than pursue outright bans, a marked shift from years of enforcement-led hostility.
Clearly, institutions want to trade event contracts with the execution quality, algorithms, risk controls and post-trade processing they already expect everywhere else, not through a standalone retail app.
The regulatory picture is still forming
For LiquidityFinder's European and UK readership, the caveats are worth keeping in view. In late May the chair of Cyprus regulator CySEC made clear that prediction markets look a great deal like binary options when viewed from Brussels, a comparison that carries weight given the EU's existing restrictions in that area. In the US, friction is shifting to the state level, with a coalition suing to block Kentucky's new 14.25 per cent prediction markets tax in June. Some firms are already routing around retail-facing structures entirely, with Galaxy Digital moving event trading into the OTC swap market.
None of that is slowing the connectivity race. The proliferation of execution, aggregation and data integrations in the space of a single quarter suggests the infrastructure layer is being built out well ahead of the rulebook, and TT's entry confirms that the listed-derivatives technology incumbents now see event contracts as a category they cannot afford to miss out on.
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