Talos integrates Kalshi trading for institutional algos, block trades and retail distribution

Talos has integrated with Kalshi so select institutional clients can trade Kalshi event contracts and crypto perpetuals through the same infrastructure they already use for digital assets, without a separate connection. The rollout includes algorithmic order types such as Iceberg, TWAP and POV, multi-leg execution for perp-to-perp and perp-to-spot spreads, and block trading in Kalshi contracts through Talos’s RFQ platform with participating OTC liquidity providers. Later this year, Talos plans to extend its dealer software to brokers and trading platforms so they can offer Kalshi event contracts to customers where permitted, and to launch a unified prediction-market data feed standardizing events, trades, order books, open interest and implied probabilities across venues. The integration comes as prediction markets attract heavier institutional interest and record activity: CoinGecko said notional trading volume reached $113.8 billion in the second quarter, up 48.7% from the previous quarter, while June hit a monthly record of $52.8 billion. CoinGecko linked the surge to a dense sports calendar, with sports contracts accounting for 81% of Polymarket’s June volume, up from 40% in January. Kalshi’s market share rose to 58.9% from 42.4% in the first quarter, while Polymarket’s fell to 30.2% from 35.8%; Rothera, backed by Robinhood and Susquehanna International Group, reached fourth place in June with $2.1 billion in notional volume. The sector’s expansion has also brought legal and compliance risks into sharper focus, including Kalshi’s disputes with several U.S. state regulators over sports event contracts and broader concerns about insider trading on prediction platforms.