Karshi logo illustration.
Dado Ruvik | Reuters
Prediction market platform Kalsi is launching a product for highly active traders on Monday, the company told CNBC.
Kalshi Pro, which is currently available to the public, is designed for speculators who trade multiple markets simultaneously or trade at high speeds during live events, according to a memo provided to CNBC. The platform is also designed to support those executing dormant orders, which are trades that are not executed until a certain price is reached, the memo said.
CNBC reported in early June that Kalsi was working on developing a terminal for high-end traders. Kalsi confirmed the product’s development at an event later that month. Pro products are generally available but are still in beta testing.
The platform will also allow traders to see a continuous feed of all public trades, better view the order book for individual contracts, and provide an easy way to investigate trades in multi-leg contracts, the note said.
This product is a response to the fact that many of Karshi’s most active traders are creating their own software and workflows to help them manage their trades and gain an edge. Kalshi Pro is a product to create a more central platform for these speculators. It is unclear whether Kalsi will seek to monetize this product at some point.
Kalshi Pro will also feature new utilities for those trading the company’s perpetual futures products, colloquially known as “perps.” This includes “terminal grade” charts and new ways to manage the risk of traders’ purpse positions, according to the memo.
“Karsi’s active traders are already trading stocks and bonds in prediction markets and Wall Street-like perpetual trading,” Andy Chan, head of product at Calci Pro, said in a statement. “We built the Pro to give them the cockpit they deserve.”
Disclosure: CNBC and Kalsi have a commercial relationship that includes customer acquisition and minority ownership.
