FIS and Kalshi Launch Clearing Service for Prediction Market Contracts

Brokers and futures commission merchants can now clear prediction market contracts using existing post-trade systems through a new partnership between Kalshi and financial technology firm FIS. The new service, FIS CD Prediction Clearing, is designed for institutional clients seeking access without building new infrastructure, coinciding with rapid sector growth.

Data from Next.Io shows the prediction market sector generated nearly $64 billion in trading volume last year, surging from under $16 billion the previous year. Monthly volume exploded from less than $100 million in early 2024 to over $13 billion by December 2025. Kalshi alone reported $10.4 billion in volume last month. "Having the right post-trade foundation in place is critical to unlocking the next wave of participation," said Andy Ross, Kalshi's Head of Institutional.

The launch builds on recent industry moves to establish over-the-counter trading for prediction markets, which enable larger institutional trades outside retail platforms. While earlier initiatives focused on execution and custody, the FIS product tackles clearing and post-trade processing, integrating these contracts into standard workflows.

"The setup supports real-time processing and continuous availability, aligning with how these contracts trade," said Andrés Choussy, Head of Capital Markets at FIS. For clients, the operational change allows clearing within existing systems, reducing the need for separate infrastructure or retail interfaces.

This clearing development follows Kalshi's recent data distribution deal with Tradeweb, marking another step in building full institutional infrastructure. However, challenges persist, including uneven liquidity across contracts and an evolving regulatory landscape across jurisdictions. For brokers, access is improving, but practical participation remains tied to the development of liquidity and clear regulations.