Kalshi launches Pro terminal for its most active traders

Kalshi is rolling out a new trading terminal aimed at users who place fast, frequent bets across several markets at once, CNBC reported. For retail investors watching prediction markets move closer to mainstream trading tools, the launch shows how platforms are building products that look more like professional brokerage software.

The company told CNBC that Kalshi Pro became available to the public Monday, though the product is still in beta testing. A beta product is live for users but still being tested and refined.

Kalshi is a prediction market platform, meaning users trade contracts tied to the outcome of real-world events. Those contracts can rise or fall in price as traders update their views on the chance that an event will happen.

What Kalshi Pro is built to do

According to a memo provided to CNBC, Kalshi Pro is designed for active speculators who trade several markets at the same time or need to react quickly during live events. The platform also supports users who place resting orders, which are trades that sit in the market and execute only if a specified price is reached.

The terminal gives traders a continuous feed of public trades, CNBC reported. It also offers a clearer look at order books for individual contracts. An order book is the list of buy and sell orders waiting at different prices, and it helps traders see where other market participants are willing to transact.

Kalshi Pro also includes tools for reviewing multi-leg contract trades, according to the memo cited by CNBC. A multi-leg trade combines more than one contract into a single strategy, which can make positions more complicated to monitor.

CNBC reported in early June that Kalshi was developing a terminal for more active users. The company later confirmed the product at an event that month, according to CNBC.

Why Kalshi is adding a pro-style terminal

The product responds to a behavior Kalshi was already seeing among its heaviest users. CNBC reported, citing the company memo, that many active traders had built their own software and workflows to manage positions and seek an edge.

Kalshi Pro is meant to bring more of that activity into a central interface for those users. CNBC reported that it is not clear whether Kalshi plans to charge for the product later.

The move also comes as Kalshi expands beyond standard prediction-market contracts. The Pro terminal includes tools for the company’s perpetual futures product, CNBC reported.

Perpetual futures, often called perps, are futures-style contracts without a set expiration date. Traders use them to take ongoing positions, and platforms typically add risk controls because prices can move quickly and positions can remain open indefinitely.

According to the memo cited by CNBC, Kalshi Pro will add “terminal-grade” charting for perpetual futures and new tools for managing risk on those positions.

Andy Chang, Kalshi Pro’s product lead, told CNBC in a statement that the company’s active users are already trading prediction markets and perpetuals in a style similar to how Wall Street trades equities and bonds. “We built Pro to give them the cockpit they deserve,” Chang said.

CNBC disclosed that it has a commercial relationship with Kalshi that includes customer acquisition and a minority investment.

This story draws on original reporting from CNBC.