Broadridge brings Kalshi prediction markets into CQG trading stack

Broadridge, the S&P 500 financial technology group that processes over $18 trillion in daily securities trading, has integrated Kalshi's regulated prediction market contracts into its CQG multi-asset trading platform. The move means that retail and institutional investors can now trade event contracts alongside futures, options and equities from a single interface, and access Kalshi positions through the NYFIX network that serves more than 1,700 buy-side clients globally.

The announcement marks a structural shift in how prediction markets are distributed. Rather than operating as a standalone curiosity, event contracts are being embedded directly into the risk management and portfolio monitoring workflows that institutional desks already use. Futures commission merchants and brokers gain a regulated distribution channel; traders gain a native hedging instrument that does not require a proxy asset.

Prediction markets graduate to institutional plumbing

Kalshi, founded in 2018, describes itself as the first regulated exchange for event contracts in the United States, a status it secured after a prolonged legal and regulatory effort that culminated in CFTC recognition. The platform now counts millions of retail users and a growing institutional base, and its partnership with Broadridge represents the clearest signal yet that prediction markets are being reclassified from niche speculation to legitimate portfolio management tools.

"Prediction markets are now part of investors' trading toolkits, not separate from them," said Andy Ross, Head of Institutional at Kalshi. "Traders can now precisely hedge their exposure, not by using some proxy, while trading and monitoring positions in the same environment they already use."

The integration is available to US and EMEA clients, subject to jurisdictional eligibility requirements, reflecting the patchwork of regulatory regimes that still governs event contracts outside the United States.

The convergence play: fintech rails meet alternative asset classes

The broader significance of this deal sits at the intersection of financial market infrastructure and the emergence of information-based asset classes. Broadridge's CQG platform is not a retail brokerage app; it is the kind of institutional-grade execution and connectivity layer that underpins professional trading desks. Routing Kalshi through CQG and NYFIX is functionally equivalent to granting prediction markets the same infrastructure status as listed derivatives.

For capital allocators watching the fintech-meets-alternative-assets space, this raises a pointed question: if event contracts can be hedged, monitored and reported within the same system as a futures book, the regulatory and compliance objections to allocating to them become materially thinner. That logic is likely to accelerate institutional adoption in jurisdictions where the regulatory path is clear.

The move also has implications for data infrastructure. Prediction markets generate real-time probability signals on macroeconomic events, elections, central bank decisions and commodity supply shocks. Feeding those signals into the same terminal where a trader is managing rate-futures exposure creates a genuine information edge, and the data vendors and quant funds that have not yet priced Kalshi data into their models may find themselves at a growing disadvantage.

Broadridge's framing of this as a "multi-asset strategy" extension is deliberate. The group is positioning CQG as the connectivity layer for any regulated asset class that institutional clients want to trade, a platform-of-platforms logic that mirrors what Bloomberg and Refinitiv built for traditional instruments. If prediction markets continue to attract regulatory legitimacy in the EU and UK, Broadridge's early infrastructure bet here could prove a meaningful moat in a competitive execution-management market.