Kalshi begins streaming live order books on DoubleZero Edge

Kalshi has started streaming its live order book through DoubleZero Edge, making it the first prediction market to distribute real-time order-book data on the network. The initial rollout covers the exchange’s most actively traded sports event contracts and crypto perpetual futures, with full book depth available to subscribers.

In a PRNewswire release, DoubleZero Foundation and Kalshi said the feed includes both Level 1 data, which covers top of book and trades, and Level 2 depth-of-book data. DoubleZero Edge delivers the feed over dedicated fiber using multicast, a model that publishes machine-readable data once and sends it simultaneously to every connected trader.

The companies said the service is aimed at firms that previously had to rebuild Kalshi’s book state from API responses. It is being offered as a subscription for quantitative desks, market makers and prop traders, with the pitch that it can support pricing, hedging and signal generation.

Those two contract groups account for nearly 60% of Kalshi’s weekly notional volume, Finance Magnates reported. The publication also said the new multicast feed gives firms direct access to full order-book depth so they can model slippage, monitor pricing across related markets and manage execution with real-time data.

Kalshi is waiving its share of Edge revenue for the first year, which the companies said will keep the launch price tied to network delivery rather than an added data-licensing charge. The waiver does not make the feed free, and firms still have to subscribe to DoubleZero Edge and meet connection requirements. Neither company disclosed the subscription price, the number of initial customers or measured latency.

Historical data is not part of the first release, but DoubleZero said it plans to add that in a later version. As covered in July, Kalshi had already been widening beyond its core event markets with a biopharma pilot that came with strict guardrails.

Crypto.news reported that combined July prediction-market volume reached $50.59 billion, with Kalshi accounting for $37.7 billion, or about 74.5%, of that total. It also noted that the sports contracts in the new feed remain subject to legal disputes in some states, including a Washington ruling in July that blocked Kalshi from offering them to residents and a temporary Michigan restriction in June.