Kalshi has become the first prediction market operator to distribute real-time order book data through DoubleZero Edge, a low-latency market-data feed delivery platform run by DoubleZero Foundation.
The arrangement gives institutional traders direct access to data across Kalshi’s most actively traded sports and crypto perpetual markets. This includes Level 1 top-of-book and trades data and Level 2 depth-of-book data.
The feed, DoubleZero said, is designed to provide institutional and systematic traders with low-latency access to Kalshi’s market data. It added that this allows trades to consume order book information directly through DoubleZero Edge.
The Level 2 feed provides visibility into the depth of Kalshi’s order books, with the Level 1 feed covering the best available prices and trades.
DoubleZero said its Edge data publishers usually get a percentage share of the post-burn subscription fees. However, for the first year, Kalshi will waive its revenue share, allowing the feed to be priced based on network delivery rather than data licensing.
Kalshi: Partnership will deliver better connectivity
Andy Ross, head of institutional at Kalshi, welcomed the new deal, saying “better markets are built on better connectivity”.
“The firms participating on Kalshi today are increasingly the same top-tier names as those in traditional markets,” Ross said. “They’re looking for institutional-grade infrastructure everywhere they trade. By making our market data available over DoubleZero Edge, we’re meeting them where they are.”
Austin Federa, co-founder of DoubleZero, added: “Traditional finance got this concept exactly right: data access is a critical part of market structure. The world’s largest trading firms built dedicated networks to move data that are fast and reliable, but only for themselves.
“New finance, like crypto, perps, and prediction markets, has been built without this infrastructure. DoubleZero Edge brings institutional-grade infrastructure into the hands of prediction-market traders with software-defined access. Kalshi coming online shows that Edge optimizes market data for any venue, on chain or off.”