Alpaca Integrates Kalshi Event Contracts Into Brokerage Infrastructure

Alpaca announced on August 31, 2026 that it will offer CFTC-regulated event contracts through its global brokerage infrastructure under a new partnership with prediction market exchange Kalshi, adding a new asset class to the API-first platform it already operates for financial institutions.

The arrangement, set out in a release carried on Kalshi’s newsroom, will route Kalshi’s event contracts to Alpaca’s partners and end users through the same brokerage rails those firms already use for other financial products. Alpaca framed the move as an expansion into prediction markets, folding event contracts into the range of asset classes available on its infrastructure.

What The Integration Covers

Under the partnership, Alpaca’s partners and users will be able to access Kalshi event contracts across categories including economic indicators, financial markets, weather, sports, and cultural events. The structure splits responsibilities between the two firms. Alpaca Derivatives LLC, the company’s CFTC-registered Futures Commission Merchant, will integrate directly with Kalshi to deliver access to the event contracts through Alpaca’s existing infrastructure. Alpaca will support custody, money movement, statements, and account management, while Kalshi will provide the regulated marketplace, the event contracts themselves, and clearing services.

Alpaca described the expansion as a response to growing demand from its partners and users for access to more asset classes through a single integration. The company said it supports more than 300 financial institutions, many of which use its infrastructure to build and offer financial products to millions of end customers. That demand, the release noted, arrives as prediction market activity has increased, with more than $40 billion in trading on Kalshi in July, according to Kalshi data.

Both companies positioned the deal around distribution through existing financial platforms. “Alpaca’s partners and users want to access more markets without having to build and manage a separate infrastructure stack for every asset class,” said Tony Lee, Chief Brokerage Officer at Alpaca. He described the addition of Kalshi’s event contracts as a natural extension of that model.

“Partnering with Alpaca is a significant step in expanding access to Kalshi markets in the US and around the world,” said Max Crowley, VP of Business Development at Kalshi. “Alpaca powers a fast-growing ecosystem of financial platforms, and together we can bring prediction markets directly into the products investors already use to trade and manage their money.”

The Regulatory Plumbing Behind The Deal

The partnership rests on a regulatory registration Alpaca completed earlier in August. On August 17, 2026, the company announced that Alpaca Derivatives LLC had registered with the Commodity Futures Trading Commission as a futures commission merchant and become a Member of the National Futures Association. That registration broadened Alpaca’s regulated brokerage capabilities and enabled it to offer access to event contracts traded on prediction markets. Alpaca said at the time that it plans, over time, to introduce a broader range of futures products, subject to regulatory approval.

The Kalshi announcement carries the relevant regulatory caveats. Alpaca Derivatives LLC is registered with the CFTC as a Futures Commission Merchant and is a Member of the NFA, but has not yet commenced regulated business operations as a Futures Commission Merchant. The companies also noted that availability of the event contracts depends on Kalshi’s listed markets, regulatory requirements, and geographic eligibility.

The Two Companies

Alpaca is a US-headquartered, self-clearing broker-dealer providing global agent-first brokerage infrastructure that powers access to traditional and on-chain asset classes. According to the company’s release, Alpaca today supports over 10 million brokerage accounts across hundreds of fintechs and institutions in more than 40 countries, backed by $400 million in funding.

Kalshi, founded in 2018, operates as a regulated financial exchange for event contracts. The company describes itself as the world’s largest prediction market and the first regulated exchange for events. Users trade on the outcomes of real-world events, including elections, economic indicators, and cultural moments. Kalshi credited itself with legalizing and establishing prediction markets as a financial asset class, and said it is used by millions of people and a growing number of institutions in America.

The August 17 registration release placed Alpaca’s move within a period of rapid growth in prediction market activity. Citing Pew Research Center, Alpaca said combined monthly global trading volume across the two leading platforms increased nearly fivefold in seven months to approximately $24 billion in April 2026.

The Kalshi partnership represents the first named exchange integration Alpaca has announced since securing its futures commission merchant registration, giving the company’s institutional partners a defined path to offer CFTC-regulated event contracts through infrastructure they already operate.