Kalshi, a leading platform for regulated event‑based trading, has announced that its comprehensive election‑related market data will now be streamed live through DoubleZero, a data‑distribution service used by professional traders and quantitative firms. This integration arrives at a critical moment, as market participants are gearing up for the upcoming United States midterm elections, a political event that historically generates heightened activity in prediction markets. By making the full‑depth order books of Kalshi’s political contracts available in real time, DoubleZero enables institutional investors, hedge funds, proprietary trading shops, and automated algorithmic strategies to incorporate granular sentiment signals into their models.

### Why the Data Matters Prediction markets have become an increasingly valuable source of information for traders who seek to gauge collective expectations about future events. Unlike traditional financial markets that trade securities tied to corporate earnings or macro‑economic indicators, event‑based markets such as those offered by Kalshi let participants buy and sell contracts whose payoff depends on the outcome of discrete real‑world events—elections, regulatory decisions, weather occurrences, and more.

The price of each contract reflects the market’s consensus probability that the event will occur, adjusted for risk preferences and liquidity. Before this launch, most traders could only observe the top‑of‑book prices (the best bid and ask) or rely on delayed aggregate data feeds. The new DoubleZero feed, however, delivers the entire order‑book depth: every standing bid and ask at each price level, the volume attached to each order, and the speed at which orders are added, modified, or cancelled.

This level of detail is crucial for sophisticated trading strategies. For example, a quant team might analyze the shape of the order book to infer hidden supply and demand imbalances, detect large hidden orders, or anticipate short‑term price movements driven by news releases or political developments. Automated systems can ingest the data stream, apply machine‑learning models, and execute trades within milliseconds—something that would be impossible with a simple snapshot of the best price.

### Institutional and Automated Trading Use Cases 1. **Statistical Arbitrage**: By comparing Kalshi’s contract prices with alternative probability estimates—such as poll aggregators, betting odds from sportsbooks, or proprietary models—traders can identify mispricings.

Full‑depth data helps determine whether a price discrepancy is likely to be corrected quickly or if it reflects deeper market sentiment. 2.

**Liquidity Provision**: Market makers can use the order‑book feed to dynamically adjust their quoting strategies, ensuring they provide tight spreads while managing inventory risk. The ability to see the exact distribution of orders across price levels allows them to place limit orders where they are most likely to be filled.

3. **Event‑Driven Strategies**: As campaign events, debates, or breaking news unfold, the order flow can shift dramatically.

Real‑time depth data enables traders to capture these rapid movements, positioning themselves ahead of the broader market reaction. 4.

**Risk Management**: Portfolio managers can monitor exposure to political outcomes more precisely. By tracking the depth of the market, they can gauge how much additional capital would be required to unwind a position without moving the market price unfavorably. ### Technical Details of the Integration DoubleZero delivers the data via a low‑latency WebSocket API, supporting sub‑millisecond delivery times for clients with colocated infrastructure. The feed includes standardized JSON messages that detail each order’s price, size, side (buy or sell), and timestamp.

Historical snapshots are also available for back‑testing, allowing firms to reconstruct the full order‑book evolution for any given contract over the past months. Kalshi has ensured that the data complies with all relevant regulatory requirements.

Since the platform operates under the oversight of the U.S. Commodity Futures Trading Commission (CFTC), the market data is subject to strict reporting standards, and the integration respects privacy and data‑security protocols.

Clients can authenticate using API keys and are required to acknowledge the terms of service that govern data usage, redistribution, and compliance. ### Impact on the Midterm Election Landscape The U.S.

midterm elections, scheduled for November 2026, will determine control of the House of Representatives and a third of the Senate. Historically, these elections have been closely watched by investors because they can shift fiscal policy, regulatory agendas, and overall market sentiment. By providing deep market data on election‑related contracts—such as "Democratic Party wins majority in the House" or "Republican candidate secures Senate seat in Ohio"—Kalshi and DoubleZero give traders a more nuanced view of how professional participants are pricing political risk.

Analysts expect that the increased transparency will lead to tighter spreads and higher liquidity in the political prediction market segment. As more institutional capital flows into these contracts, price discovery should improve, reducing the gap between market expectations and actual polling data. Moreover, the data can serve academic researchers studying the relationship between market‑based probabilities and election outcomes, offering a richer dataset than traditional poll aggregates. ### Looking Ahead Kalshi’s decision to partner with DoubleZero reflects a broader trend of bringing alternative data sources into the mainstream trading ecosystem.

As more event‑driven platforms mature and gain regulatory approval, the demand for high‑quality, real‑time market data will only grow. Future expansions may include additional event categories—such as macro‑economic releases, corporate earnings surprises, or even climate‑related events—each delivered with the same depth and speed. For traders and investors, the key takeaway is clear: access to full‑depth order‑book data on political prediction markets provides a competitive edge in an environment where information asymmetry can translate directly into profit or loss.

Whether you are a market maker seeking to fine‑tune your quoting algorithm, a quant fund building a multi‑signal model, or a risk manager monitoring exposure to political volatility, the new Kalshi‑DoubleZero feed equips you with the granular insight needed to make informed decisions ahead of the pivotal midterm elections. In summary, the live streaming of Kalshi’s election data through DoubleZero marks a significant upgrade in the data infrastructure supporting political prediction markets. By delivering comprehensive order‑book information to institutional and automated traders, the integration enhances liquidity, improves price discovery, and opens the door to a new wave of sophisticated trading strategies centered on one of the most consequential political events on the U.S. calendar.