Kalshi Streams Order Book Data via DoubleZero
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- Kalshi is distributing its live order book data through DoubleZero Edge, the fiber network operated by the DoubleZero Foundation, the two companies announced Wednesday
- The feed initially covers sports event contracts and crypto perpetual futures, including Level 1 data (best prices and completed trades) and Level 2 data (buy and sell orders across multiple price levels)
- DoubleZero Edge uses a multicast system that sends formatted, machine-readable data simultaneously to connected traders, letting firms consume it via a single install command rather than building their own production-grade view
- Kalshi will waive its share of subscription fees during the first year, so fees cover network delivery rather than Kalshi's data-licensing costs; the companies did not disclose subscription prices
- Kalshi Head of Institutional Andy Ross said the platform is attracting the same top-tier trading firms as traditional markets and that the feed meets demand for institutional-grade infrastructure
- DoubleZero CEO Austin Federa pushed back on the idea that the service disproportionately advantages professionals, arguing that pros compete on speed with each other — not with regular users — and that the resulting tighter spreads benefit everyone on the exchange
Why it matters: Prediction-market venue Kalshi is treating its order book like a tradable data product, with a formatted, multicast-delivered feed that firms can plug into without building their own pipeline. With Kalshi waiving its share of fees for the first year, the near-term price for professional-grade prediction-market data drops to network delivery costs alone — lowering the barrier for quant firms to add Kalshi to the same infrastructure stack they use for equities and futures.
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