From Taylor Swift to rate cuts, RedStone brings real-world bets onchain with Kalshi
Oracle supplier RedStone has built-in event-driven market knowledge from the US Commodity Futures Buying and selling Fee (CFTC)-regulated monetary change and prediction market Kalshi throughout over 110 blockchains, increasing entry to real-world prediction knowledge for decentralized purposes (DApps).
RedStone introduced the partnership with Kalshi on Thursday, bringing its prediction market knowledge to greater than 110 networks, together with Ethereum, Solana, Base, The Open Community and Sui. The combination permits DApps to entry Kalshi’s knowledge units that cowl occasions like elections, rate of interest choices and cultural moments like musician Taylor Swift’s dwell tv appearances.
The CFTC regulates Kalshi as a delegated contract market (DCM), which suggests markets listed on Kalshi should obtain CFTC approval earlier than buying and selling. On Oct. 10, Kalshi raised $300 million to increase its prediction markets to over 140 nations.
“The regulated nature of Kalshi’s occasions means we’re unlocking knowledge classes that have been beforehand unavailable onchain, opening totally new potentialities for a way DeFi will evolve,” RedStone co-founder Marcin Kazmierczak informed Cointelegraph.
The rollout begins with three preliminary classes: the New York Metropolis mayoral election, the 2028 Democratic Get together nominee for US president and the variety of rate of interest cuts in 2025. Extra markets are anticipated to observe, however will rely upon developer demand.
RedStone co-founder shares anticipated use circumstances
Kazmierczak informed Cointelegraph that the primary section of the mixing is more likely to see present decentralized finance (DeFi) primitives.
“We are able to count on utilization of well-known primitives comparable to derivatives, perpetual DEXs, and ultimately lending markets leveraging tokenized Kalshi market positions with RedStone’s onchain knowledge to make sure correct liquidation mechanics and collateral pricing,” he informed Cointelegraph.
Nonetheless, he stated probably the most important innovation might come later, as builders experiment with new ideas.
Kazmierczak informed Cointelegraph that with time, the area might witness new concepts and design patterns comparable to insurance-like protocols and social finance participating with the mass market.
He informed Cointelegraph that insurance coverage could also be one of the crucial promising purposes for regulated prediction knowledge.
In Might, real-world asset (RWA) tokenization firm Securitize chosen RedStone as the first oracle supplier for its tokenized contracts, which embody asset supervisor BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) and the Apollo Diversified Credit score Securitize Fund (ACRED).
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Prediction markets go mainstream
The brand new integration comes as prediction markets are gaining speedy mainstream recognition, with some saying their simplicity may make them the primary DeFi software to realize mass adoption.
On Friday, Azuro researcher Mike Rychko argued that prediction markets are coming into the true world past crypto. He stated the accessibility of such platforms is more likely to lead to them being the primary DeFi product to realize mass adoption.
He stated that whereas most individuals wouldn’t open derivatives exchanges, they’re more likely to be enticed by the clear and digestible alerts that prediction markets present.
“That simplicity is exactly why prediction markets will discover mass adoption quicker than most DeFi experiments ever did,” Rychko stated.
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