The full process of creating a Kalshi market: ideation, research, and certification.
Although it might seem like markets on Kalshi spawn out of the void, as a regulated entity our market creation process is very involved. It begins with a proposal submitted by either a member or our internal researchers.
Suggest a market: Have an idea for a market? Share with us here
This suggestion is reviewed by Kalshi’s Contracts Team, who consider whether the market would be appropriate to list on the exchange. Their review is fairly complicated, but here a few core requirements:
The market should have minimal risk of manipulation to provide an even playing field for all members.
The market does not encourage harmful behavior.
The market’s outcome comes from a reputable and reliable source.
Fun fact: There are a few specific prohibitions imposed by the federal government on futures contracts. One of the stranger ones bans the sale of futures contracts on onions!
Satisfying all of these conditions is absolutely critical for any market listed on the exchange, and the vast majority of submissions do not make it past this stage. If a suggestion does make it through this “contract vetting framework,” then the Contracts Team drafts a Product Certification, outlining in detail the market’s terms and conditions. After the Product Certification is published, the market is ready for business.