Kemet is working with FalconX and Kalshi to bring institutional-grade execution to event contracts.

Through this collaboration, institutional desks can trade Kalshi event contracts using Kemet’s execution algorithms and see those positions in the same normalized portfolio and risk model they already use for options, perpetuals, futures and spot.

Why this matters

Prediction markets became a real asset class this year. They have not traded like one.

Institutional participation has been limited less by interest than by workflow. Event contracts sat outside the execution stack desks already run: a different screen, a different risk model, and none of the algorithmic execution institutions take for granted everywhere else. For a desk running a consolidated book, that is not a small inconvenience. It is a reason not to participate.

Kemet was built for the hard end of digital asset derivatives: multi-leg options execution, Vega and Gamma targeting with automatic cross-venue delta hedging, and structures priced and worked as a single package. Adding Kalshi was not a new product. Event contracts route through the same algorithms, land in the same book, and clear the same risk model as everything else.

What this means for institutional traders

• Algorithmic execution on event contracts. TWAP, Chase, iceberg and scale strategies on Kalshi markets, with the same execution controls used across every other venue.
• Order-level controls. Price protection and edge limits on every order, so desks control what they pay for a fill regardless of how long an algorithm runs.
• Multi-outcome markets. Trade across every outcome in an event from a single view.
• One consolidated risk view. Event positions appear alongside options, perpetuals, futures and spot in Kemet’s normalized portfolio and risk model. One book, not a separate screen.
• Institutional liquidity through FalconX. Hedge funds, asset managers and other counterparties can access event contract exposure through FalconX’s OTC derivatives desk within a CFTC-regulated framework.

What our partners are saying

For prediction markets to reach their full potential with institutional participants, they need to fit into the same execution stack and risk systems institutions rely on. This collaboration between Kemet and FalconX is another step forward in helping institutions fully incorporate Kalshi event contracts into how they trade, manage risk, and make decisions.

Andy Ross, Head of Institutional, Kalshi

Prediction markets are quickly emerging as institutional tools for pricing and risk transfer tied to real-world outcomes. For institutional counterparties, FalconX Bravo, Inc. provides liquidity and access at scale within a CFTC-regulated framework. We believe our work with Kalshi and Kemet will help build the foundation to support growing institutional participation.

Joshua Lim, Global Co-Head of Markets, FalconX

One endpoint, every venue

Kemet is infrastructure, not a venue or a broker. We never hold client assets and we are never a counterparty. Desks keep their own venue relationships and their own accounts, and connect them to Kemet.

Institutional clients trade Deribit, OKX, Binance, Bullish, Hyperliquid, Coinbase and now Kalshi through a single integration, with one execution layer, one portfolio view and one risk model across the entire book.

What’s next

We expect institutional flow in prediction markets to follow the same path it took in crypto options. It arrives once the workflow, the controls and the risk plumbing look like everything else a desk runs. That is what we are building toward, with more venues to follow.

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Read the announcement:
FalconX and Kemet Collaborate to Further Expand Institutional Prediction Markets Trading on Kalshi