Kalshi bets the farm on midterm markets, rolls out election odds hub 📊

Prediction market platform Kalshi launched a "Midterms Hub" on Wednesday that displays real-time odds for individual U.S. Senate and House races ahead of November's elections, the company said in a press release. The hub combines live betting prices with polling averages, Federal Election Commission fundraising data and curated news to provide a single dashboard for tracking each race.

"It's designed as the one-stop-shop for state and federal election forecasting picture of where a race stands," Kalshi said. Outcomes shown on the hub are based on the latest odds for each market and are mapped across the U.S., according to the company. The platform said the feature gives users a live snapshot of where bettors are willing to place wagers at any given moment.

The rollout follows reports that Kalshi Inc. is pursuing regulatory approval from the Commodity Futures Trading Commission to expand perpetual contracts beyond crypto. Bloomberg reported on Tuesday that Kalshi is seeking approval to offer perpetual futures on precious metals, including gold, silver and platinum. The company is also reported to be raising new funding at a valuation of about $40 billion amid surging trading volumes.

Kalshi's Midterms Hub is the platform's latest push to expand its political presence ahead of the November midterms. In May, Kalshi introduced the "American Power Index," which it described as the "S&P 500" for politics, designed to track which political party is gaining or losing momentum.