Kalshi and Otala Bring Prediction Market Exposure to European Investors Through Listed Securities

Partnership connects Kalshi event markets with established European investment infrastructure, beginning with products tied to U.S. Federal Reserve rate decisions

London and New York, 1 September 2026, 

Kalshi, the federally regulated next-generation financial exchange, and Otala.Markets with its issuance vehicle Otala PLC (following “Otala”), an FCA-regulated structured-products issuer, are partnering to provide European investors with exposure to selected Kalshi prediction markets through listed securities available within traditional European investment infrastructure.

Under the partnership, Otala will create and issue securities referencing selected Kalshi event markets, beginning with U.S. Federal Reserve rate decisions. The products will investors a new way to gain exposure to specific economic and financial outcomes through familiar trading venues, without needing to establish a direct trading relationship with Kalshi.

Otala will be responsible for the issuance, product documentation, listing, market making and relevant European distribution requirements for the securities, which will be issued and distributed under Otala’s existing regulatory framework. In practice, an investor purchases the security through a bank or broker; the security references a specific Kalshi market and settles according to the outcome of the underlying event, while Otala manages the corresponding exposure.

This structure enables Kalshi-linked exposure to be offered through familiar European investment channels without requiring Kalshi to establish its own securities issuance and distribution infrastructure in the region.

“Prediction markets are creating a new way for investors to price and manage risk around real-world events, but accessing these markets has not always been straightforward in Europe,” said Andy Ross, Head of Institutional at Kalshi. “Working with Otala allows us to extend the reach of Kalshi markets through the investment infrastructure that institutions in Europe regularly use. Investors already trade around events like Federal Reserve decisions every day, and now European investors have a more direct way to express a view on the outcome itself.”

“Prediction markets represent an emerging asset class with clear relevance for istitutional investors, but they must be delivered in a format that fits the way European investors already operate,” said Lorenzo Calcagni, Director at Otala.Markets. “Our role is to bridge Kalshi’s event markets with traditional European securities infrastructure and regulations. By putting that exposure into listed products, we can give investors access through instruments and trading venues they already understand and use.”

While Kalshi operates as a federally regulated U.S. exchange, direct participation can still present practical barriers for European investors.The Otala securities are intended to fit within existing investment mandates, custody, and risk-management processes, with an ISIN and the ability to be held and traded through familiar banking, brokerage and custody systems. The initial products are expected to be listed on Euronext Italy, with additional markets and event categories to be added over time.

Kalshi

Founded in 2018, Kalshi is the world’s next-generation financial exchange. Prediction markets
provide accurate, real-time information on the likelihood of events, making humanity more
informed about the future. As the first regulated exchange for events, Kalshi is credited with
legalizing and establishing prediction markets as a financial asset class. It’s the leading regulated platform, trusted by millions of people and a growing number of institutions in America. To learn more about Kalshi, visit www.kalshi.com.