Kalshi Streams Order Book Data via DoubleZero Edge
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- Kalshi is distributing its real-time order book data through DoubleZero Edge, letting trading firms tap live prediction-market data over DoubleZero's fiber network.
- The initial feed covers Kalshi's 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).
- Kalshi will waive its share of subscription fees for the feed's first year, leaving subscriber fees to cover only network delivery rather than Kalshi's data-licensing costs; subscription prices were not disclosed.
- DoubleZero CEO Austin Federa said the practical change is that firms now buy access as a subscription and receive machine-readable data directly, rather than building their own production-grade view of the book.
- Kalshi Head of Institutional Andy Ross said the firms trading on Kalshi are increasingly the same top-tier names seen in traditional markets and want institutional-grade infrastructure at every venue they touch.
- Federa pushed back on fairness concerns, arguing professional traders compete on speed with each other rather than with regular users, and that competition produces tighter spreads and better prices for everyone on the exchange.
Why it matters: By waiving its data-licensing fees for a full year, Kalshi turns its prediction market into a subscription data product aimed at the same top-tier trading firms that already dominate traditional finance. Federa's argument that professional speed competition ultimately tightens spreads for all users is the deal's central pitch to retail participants who might otherwise see it as a pro-tier advantage.
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