Kalshi Partners With S&P Dow Jones Indices for Event Contracts

Kalshi has signed a partnership with S&P Dow Jones Indices that lets the exchange offer event contracts tied to the index provider's benchmarks. Monday's announcement makes Kalshi a preferred platform for contracts linked to S&P DJI indices, with settlement based on official index values published by the company.

The agreement adds S&P Dow Jones gauges to a growing list of Wall Street firms expanding their involvement in prediction markets. The companies did not disclose a timeline for either initiative in the deal, and S&P DJI did not immediately respond to a request for additional details.

Could Kalshi's data become an index itself?

Under the second leg of the agreement, S&P DJI will explore developing indexes using Kalshi's prediction market data. The potential gauges would track expectations around economic developments, political outcomes and sporting events.

These indexes would work differently from traditional financial benchmarks. They would use prices from Kalshi's event contracts to measure market expectations about future outcomes, rather than tracking the performance of traditional financial assets such as stocks or bonds.

The operational consequence cuts both ways: Kalshi gains settlement-grade reference data from one of the industry's most widely used index providers, while S&P DJI gains a live feed of forward-looking market sentiment that could become a new product line.

How are traditional market operators entering prediction markets?

The deal follows a sequence of moves by established financial market operators into prediction markets.

• Intercontinental Exchange, parent of the New York Stock Exchange, committed up to $2 billion to Polymarket in October 2025.
• Nasdaq filed in March to offer prediction market-style contracts tied to the Nasdaq 100 Index.
• Nasdaq partnered with Kalshi in August to provide market surveillance technology.

The S&P DJI agreement places Kalshi at the center of that migration, pairing an exchange regulated for event contracts with the benchmark provider behind instruments such as index-linked derivatives and ETFs.

What did S&P Global announce the same day?

S&P Dow Jones Indices' parent, S&P Global, separately announced Monday that it completed its acquisition of blockchain security firm OpenZeppelin. The deal, first announced in September, expands S&P Global's risk assessment capabilities for digital assets. The companies did not disclose financial terms.

OpenZeppelin provides smart contract security audits and development tools. Its open-source contract libraries underpin more than $38 trillion in value transferred, according to S&P Global, and its security team has completed over 900 engagements.

OpenZeppelin will continue operating as its own business unit under founder Demian Brener, who will report to Yann Le Pallec, president of S&P Global Ratings.

The acquisition extends a broader digital asset risk push at S&P Global. Earlier this month, S&P Global Ratings launched a framework for evaluating crypto lending vaults across six risk categories, including blockchain security, liquidity and governance.

What comes next?

Neither Kalshi nor S&P DJI set dates for the index-linked contracts or the prediction-data indexes. The next observable milestones are the first contract listings tied to S&P DJI values and any S&P DJI filing or announcement describing benchmark construction from Kalshi's pricing data, in a market where Nasdaq's Nasdaq-100 contracts and ICE's Polymarket commitment have already drawn institutional attention.