Kalshi rolls out Midterm Hubs ahead of the November elections in the U.S.

Prediction market platform Kalshi has launched a new feature called the Midterms Hub to provide real-time market odds on individual U.S. Senate and House races ahead of the November midterm elections. The hub combines live betting prices with polling averages, Federal Election Commission fundraising data for candidates, and curated news coverage to offer users a comprehensive snapshot of each electoral race across the country. Kalshi described the tool as a "one-stop-shop" designed to show where users are placing bets at any given moment and how these market predictions compare to traditional polling data.

This launch comes as Kalshi pursues regulatory approval from the Commodity Futures Trading Commission to expand its perpetual futures contracts beyond cryptocurrency assets. Specifically, the company is seeking to offer perpetual contracts for precious metals such as gold, silver, and platinum. These contracts are financial derivatives that, unlike typical futures, do not expire. This regulatory push accompanies Kalshi’s broader ambition to grow its product offerings and user base.

Kalshi’s monthly trading volumes have increased significantly, with the company reporting $31 billion in total notional trading volume in June, marking more than a 70% increase from May. Approximately 85% of this volume was in sports contracts, with a substantial portion attributed to demand around the FIFA World Cup, which accounted for $22.42 billion by itself. This surge in trading activity underpins the company's valuation ambitions as well, with reports indicating Kalshi is seeking new funding at a valuation near $40 billion—almost double the $22 billion valuation targeted during its previous fundraising round.

The Midterms Hub builds on Kalshi’s recent efforts to establish itself as a key player in political forecasting. Earlier in the year, Kalshi introduced the “American Power Index,” which it positioned as an “S&P 500” for tracking which political party is gaining or losing ground. By integrating real-time betting odds with traditional political data sources, Kalshi aims to make its platform the primary reference point for U.S. election odds, helping users observe market sentiment and political dynamics in one consolidated place.