DRW builds a prediction-market desk to arbitrage Polymarket and Kalshi
Polymarket’s 2025 volume was estimated at $22B–$40B, with three sports contracts topping $730M combined.
Start hereKalshi is a federally regulated U.S. derivatives exchange where traders buy and sell yes-or-no event contracts that settle at $1 or $0.

Kalshi’s core cost is a per-contract fee that peaks at 1.75¢ at 50¢, plus separate deposit and withdrawal charges that depend on payment method.

Kalshi lists CFTC-regulated election event contracts that trade from $0 to $1 and settle at $1 or $0, so the price can be read as a probability only when the market is liquid and the rules are clear.
Polymarket’s 2025 volume was estimated at $22B–$40B, with three sports contracts topping $730M combined.
Bryan Steil expects House leaders to tee up a summer floor vote pairing the add-on with a congressional stock-trading ban.
BTC printed an intraday low near $66,948 as traders refocused on the $66,250 50-month EMA and deeper downside zones.
Regulators expect the proceedings to resolve in three to four months, keeping access restricted in the interim.
Comer alleged 80+ Iran-linked “suspiciously timed” trades and cited a May 13 report on geopolitics and election contracts.
The platform has appointed Mike Eidlin to lead local efforts while Japan remains on its restricted-jurisdiction list.
The new contracts let traders price fundraises, valuation changes, and other private-company milestones.
The wallets’ biggest positions were timed just ahead of major US military-related developments, reviving insider-trading scrutiny.