Tradeweb Markets Inc. has entered into a strategic partnership with Kalshi, the first regulated exchange for event contracts, and has taken a minority equity stake in the company. The announcement, made on February 19 2026, signals Tradeweb’s intent to embed Kalshi’s real‑time event probabilities and market data into its rates and credit marketplaces through user interfaces, APIs, and data‑download tools.
Kalshi, founded in 2018 and approved by the Commodity Futures Trading Commission, is the largest regulated prediction‑market exchange in the United States. By combining Kalshi’s event‑driven data with Tradeweb’s liquidity and pricing intelligence, the two firms aim to create an institutional‑grade portal for event contracts covering macro releases, Fed policy, elections, and other key policy outcomes. The partnership is expected to provide Tradeweb’s more than 3,000 institutional clients with forward‑looking risk signals directly within their existing trading workflows.
Tradeweb has not disclosed the exact size or terms of its minority investment, nor has it provided a specific integration timeline. However, the partnership is designed to deliver probabilistic, forward‑looking risk signals that can be accessed through Tradeweb’s existing platforms, potentially opening a new revenue stream and strengthening Tradeweb’s competitive moat in the electronification space.
"Prediction markets are increasingly becoming a key part of the trading landscape, and have the potential to become an indicator for institutions to dynamically assess macro risk and allocate capital more effectively," said Billy Hult, CEO of Tradeweb. "As a leading global operator of electronic marketplaces across asset classes, Tradeweb has invested in Kalshi based on our belief that the institutional trading stack will soon evolve to pair high‑quality event data with modern market structure." Tarek Mansour, co‑founder and CEO of Kalshi, added, "Partnering with Tradeweb will help us accelerate the adoption we are seeing. Kalshi has the scale, breadth of markets, and liquidity required to help institutions manage the risks they face."
The collaboration positions Tradeweb to tap into the growing demand for predictive analytics and event‑based trading within the institutional client segment. By integrating Kalshi’s real‑time event probabilities into its core trading workflows, Tradeweb can offer clients a new tool for risk assessment and capital allocation, potentially generating a new revenue stream and enhancing its value proposition. The partnership also gives Kalshi significant institutional reach and credibility, accelerating its adoption among larger financial players.
The announcement was positively received by market participants, reflecting confidence in Tradeweb’s strategy to innovate and expand its services into the emerging prediction‑market space. The partnership underscores the increasing importance of forward‑looking data for institutional investors and highlights Tradeweb’s commitment to providing advanced analytics and liquidity solutions.
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