Kalshi’s expansion will bring it into closer competition with CME Group and Intercontinental Exchange, which offer futures contracts used by institutional investors.
CME introduced US CPI futures in 2004 but no longer offers the product. Previous efforts to establish inflation futures struggled to attract enough regular trading activity.
The existing market includes approximately USD 2.2 trillion in Treasury Inflation-Protected Securities and more than USD 5.4 trillion in inflation swaps.
Unlike privately negotiated swaps, exchange-traded futures use standardized contracts. This allows investors to trade inflation exposure through a central exchange rather than negotiate separate agreements.
Potomac River Capital investment chief Mark Spindel, who has discussed the contracts with Ashton, said a liquid futures market would be “a valuable addition to the toolkit” available to investors and institutions.
