Kalshi has added international picks to its betting platform.
Ahead of November's US presidential race, the prediction market Kalshi has increased betting terms on elections outside the US as political stakes grow.
The contracts cover national tournaments in countries from Australia to Ecuador, according to regulatory filings with the Commodity Futures Trading Commission (CFTC).
Kalshi also added markets in Canada and Ireland for the 2025 races, the filing showed. They add to Kalshin's list of election betting markets, including more than a dozen contracts tied to the results of the upcoming US federal election.
From October 23, Kalshi Main Market – “Who Will Win the Presidential Election?” – After listing on October 7, the total amount of bets increased by 52 million dollars, according to the Kalshi website.
Kalshi added more than a dozen new contracts on October 21. Source: CFTC
Related: Kalshi's selection betting contracts will be multiplied after the court winner
On October 7, Kalshi listed event terms for betting on US election results after winning a landmark court battle in September.
This is the first time an election prediction market has been allowed to operate in the US. It paves the way for others to enter the fray, including Web3 platforms like Polymarket.
As of October 23, $2.3 billion is riding on the outcome of the November US presidential election, according to the website.
More than 75 countries around the world are holding elections in 2024, including major economies in the European Union, India and Russia, according to Map Interlude data.
Other countries such as Australia, Canada, Ecuador and Ireland are holding elections in 2025.
Source: Maps Interlude
The CFTC said election prediction markets like Kalshi's risk the accuracy of polls, but industry analysts say they often capture public sentiment more accurately than polls.
“[E]Harry Crane, a professor of statistics at Rutgers University, said in an August opinion letter to the CFTC that the commission has no evidence of significant manipulation or expansion for any nefarious purposes. .
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