S&P Dow Jones Indices and Kalshi agreed to link future prediction-market contracts to major benchmarks, using official index values for settlement and opening a route to indices built from event-market data.
S&P DJI announced the collaboration Oct. 26. Kalshi described it as a multi-year partnership in a post dated Oct. 27. Under the agreement, Kalshi will be a preferred, licensed platform for contracts tied to S&P DJI benchmarks. The S&P 500 and Dow Jones Industrial Average are among the named indexes, and the contracts are set to settle against official values published by S&P DJI.
The partnership also makes S&P DJI a preferred provider for developing indices from Kalshi event-contract data. S&P DJI identified economics, politics and sports as possible areas for those measures. Kalshi separately offered examples including political outcomes, supply-chain risks, artificial intelligence’s effects on employment, sports outcomes and weather risks. The companies did not name a specific index or explain how one would be calculated.
The companies describe different uses for the arrangement. S&P DJI said the work extends its benchmark business into prediction markets. Kalshi says event-contract prices reflect changing expectations about real-world outcomes. S&P Dow Jones Indices CEO Cathy Clay called prediction markets “one of the fastest-growing categories in financial markets.”
Kalshi compared potential event indices with traditional stock benchmarks and products built around them, including funds and derivatives. That was the company’s comparison; the announcements did not announce funds or derivatives based on the proposed indices.
The companies did not disclose the partnership’s financial terms or give a date for the first contracts. They also provided no expected trading volumes, revenue figures or timetable for indices built from contract data. S&P DJI said it does not sponsor, sell or endorse Kalshi contracts based on its indices.
