Redstone Finance, a blockchain oracle offering low-cost data feeds for DeFi applications, announced a strategic collaboration with Kalshi, a US-based regulated decentralized prediction market that allows users to trade on the outcome of real-world events. This partnership enables Kalshi to utilize Redstone’s oracle infrastructure to power real-time market data on its on-chain prediction network.
Kalshi is a US-based global prediction market that allows people to bet on anything they find interesting. The CFTC-regulated exchange allows people to trade on the outcomes of real-world events like sports, inflation, government shutdowns, unemployment, fed rate, climate, financial assets, and many others, allowing them to trade on a wide variety of topics. Based on its broad range of asset classes and event contracts, people can purchase No or Yes positions with regard to whether an event will occur or not. Through this approach, Kalshi allows people to capitalize on their opinions, trade assets, and hedge risks against valuables that matter to them.
Why Kalshi Integrates Redstone’s Oracle
Through the above collaboration, Kalshi integrated Redstone’s modular oracle infrastructure into its decentralized prediction market ecosystem. By Redstone providing real-world, verifiable data, this infused tech solution enables Kalshi’s market to process on-chain settlements instantly, with high speed.
Functioning as a modular oracle network, Redstone connects external systems to blockchains, enabling smart contracts to execute on-chain functions based on real-world inputs and outputs. By providing fast, secure, and cost-efficient data feeds to both non-EVM and EVM blockchains, Redstone’s oracle infrastructure plays a crucial role in improving smart contract accuracy and enabling reliable decentralized trading on various blockchains.
With integrations across 110+ blockchains, Redstone has become a core infrastructure for DeFi. Based on this partnership, Redstone provides an oracle solution for real-time market data, powering a broad range of markets, topics, and contract components on Kalshi’s ecosystem. This enables smart contracts on Kalshi’s network to efficiently interact with real-world information and seamlessly execute on-chain settlements.
Through the collaboration, Kalshi substantially widened its network coverage and reach in Web3, enabling its users to bet on-chain across over 110 blockchain networks. Also, with the presence of Redstone’s oracle technology, developers on the Kalshi platform can now utilize real-world data to develop smart contracts that can read and respond to actual events like:
- How the Fed conducts monetary policy through macroeconomic changes.
- Predict who wins an election based on real events happening.
- And many others.
Prediction Markets Gaining Popularity: Polymarket vs Kalshi
Decentralized prediction markets continue to experience a significant surge in trading volumes, indicating increasing user interest in these on-chain platforms. According to the latest data (sourced Monday this week) from Dune Analytica, decentralized prediction markets recorded a new ATH of $2 billion in weekly trading volume, with Polymarket reclaiming its top position from its strongest rival, Kalshi.
Both Polymarket and Kalshi have witnessed tremendous rises in trading activity and customer activity over the past months, as the broader prediction market gains widespread user adoption and knowledge awareness. While Polymarket is the prediction market leader, it still experiences competition from Kalshi. The two platforms are US-based prediction markets, harnessing people’s wisdom to predict future events.
