Kalshi, a leading platform for event‑driven trading, has announced that its election‑related market data will be streamed live to DoubleZero, a prominent venue for institutional and automated trading. This development arrives at a crucial moment, as market participants are gearing up for the U.S.

midterm elections, a political event that historically generates heightened volatility across a range of asset classes. By making the full‑depth order books of Kalshi’s political prediction markets accessible through DoubleZero’s infrastructure, the partnership aims to provide a richer, more granular view of market sentiment for professional traders, hedge funds, and quantitative strategies that rely on high‑frequency data.

### Why the Integration Matters The political prediction‑market space has grown considerably in recent years, with platforms like Kalshi offering regulated contracts that allow users to bet on outcomes ranging from presidential election results to specific legislative actions. Traditionally, retail participants have been the primary audience for these markets, often accessing price information through simple tickers or summary dashboards. However, institutional traders demand deeper insight: they need to see not only the best bid and ask prices but also the full distribution of orders at each price level, the volume of liquidity at various depths, and the dynamics of order flow over time. DoubleZero, known for its low‑latency connectivity and robust data feeds, is uniquely positioned to deliver this level of detail.

By feeding Kalshi’s order‑book data into DoubleZero, the partnership effectively bridges the gap between a niche prediction‑market platform and the broader institutional ecosystem. Traders can now incorporate political outcome probabilities into sophisticated models that already factor in macroeconomic indicators, earnings reports, and geopolitical events. For example, a hedge fund that monitors the potential impact of a Senate composition shift on healthcare legislation can now layer real‑time market sentiment from Kalshi onto its existing risk‑management framework, adjusting exposure in near‑real time as the order book evolves. ### Benefits for Different Market Participants 1.

**Institutional Investors** – Asset managers and pension funds often employ multi‑asset strategies that consider political risk as a component of portfolio allocation. Access to full‑depth order books enables them to gauge the consensus view among market participants, identify emerging divergences, and execute trades with greater confidence. The ability to see hidden liquidity and order‑book imbalances can also help in timing entry and exit points, reducing slippage. 2.

**Algorithmic and High‑Frequency Traders** – Quantitative firms thrive on data granularity and speed. The integration supplies a continuous stream of tick‑by‑tick updates, allowing algorithms to detect subtle shifts in sentiment—such as a sudden surge of buy orders for a particular election outcome—that may precede broader market moves. This can be particularly valuable in the minutes leading up to key news releases, debates, or polling updates. 3.

**Research Analysts** – Analysts focused on political risk can now back‑test hypotheses using historical order‑book snapshots that DoubleZero archives. By correlating order‑book depth with actual election outcomes, analysts can refine predictive models and produce more accurate forecasts for clients. 4.

**Regulators and Market Oversight Bodies** – Transparency is a cornerstone of fair markets. Providing institutional participants with the same depth of information that retail traders see helps level the playing field and reduces information asymmetry, which can be a concern in prediction‑market environments. ### Technical Aspects of the Data Feed The data feed leverages DoubleZero’s low‑latency API, delivering updates in sub‑millisecond intervals. Each update includes the price level, total volume at that level, and the number of orders contributing to that volume.

The feed also distinguishes between passive liquidity (standing limit orders) and aggressive liquidity (market orders that consume the book). This distinction is crucial for traders who wish to differentiate between genuine market sentiment and short‑term speculative bursts. Furthermore, the integration supports historical data retrieval, enabling users to pull back‑filled order‑book snapshots for any given time window. This feature is essential for back‑testing strategies that rely on the evolution of market depth over the course of an election cycle, from primary contests through the general election.

### Anticipated Market Impact Ahead of the Midterms The U.S. midterm elections are expected to be highly contested, with control of the House of Representatives and the Senate hanging in the balance.

Political outcomes can directly influence fiscal policy, regulatory agendas, and even sector‑specific legislation affecting technology, energy, and healthcare. As a result, market participants are already positioning themselves for a range of scenarios.

With Kalshi’s data now available on DoubleZero, we anticipate several potential effects: - **Increased Liquidity** – Institutional participation often brings larger order sizes, which can deepen the market and reduce spreads, making it easier for all participants to trade. - **More Efficient Price Discovery** – The infusion of sophisticated trading strategies can help align market prices more closely with the underlying probability of election outcomes.

- **Heightened Volatility** – As algorithms react to real‑time order‑book changes, price swings may become more pronounced, especially around major news events such as debate performances or poll releases. - **Cross‑Asset Correlations** – Traders may begin to link political prediction‑market signals with equities, bonds, and commodities, creating new hedging opportunities and potentially amplifying the transmission of political risk across markets.

### Looking Forward The collaboration between Kalshi and DoubleZero represents a significant step toward the mainstreaming of prediction‑market data in professional trading environments. By offering full‑depth order‑book visibility, the partnership not only enhances the analytical toolkit available to institutional players but also contributes to a more transparent and efficient market for political outcomes. As the midterm election cycle progresses, participants will have the chance to observe how this increased data accessibility influences trading behavior, market liquidity, and ultimately, the pricing of political risk. Whether you are a portfolio manager seeking to hedge against policy uncertainty, a quant developer building next‑generation predictive models, or an analyst aiming to understand the nuanced dynamics of political sentiment, the new Kalshi‑DoubleZero data feed promises to be an indispensable resource.

In summary, the live integration of Kalshi’s election data into DoubleZero’s platform equips institutional and automated traders with a powerful new lens through which to view political prediction markets. By delivering comprehensive order‑book depth, real‑time updates, and historical archives, the partnership empowers market participants to make more informed, data‑driven decisions as the United States heads toward a pivotal midterm election.