ICE and Kalshi link crypto liquidity to regulated markets

Intercontinental Exchange introduced a data product called Polymarket Signals and Sentiment and Kalshi announced a partnership with crypto payments network Mesh to connect major wallet providers to a federally regulated prediction market.

ICE said Polymarket Signals and Sentiment encodes prediction-market outcomes for use inside institutional systems and will be distributed through ICE data feeds. CEO Jeffrey Sprecher told investors the company is monitoring tokenization and prediction markets with emphasis on risk management and regulated access. ICE reported adjusted earnings per share rose 37% year over year and net revenues of $3 billion for the quarter ended April 30, 2026.

Kalshi’s agreement with Mesh links its regulated trading platform to a global crypto payments network. The connection allows users to move cryptocurrency from Coinbase, Binance, MetaMask and Phantom directly into Kalshi accounts. Kalshi operates in more than 140 countries and handles about $100 billion in annual trading volume. Mesh described the integration as including safeguards to prevent misdirected payments and to confirm payouts in real time.

Bam Azizi, Mesh’s co-founder and CEO, said, “The future of the economy will be tokenized, but that future is going to be heavily fragmented across a maze of different wallets and exchanges. By connecting Kalshi’s regulated market directly to the world’s crypto liquidity, we’re stripping away the legacy friction that has held back digital finance.”

Research estimates combined monthly trading across the largest prediction-market platforms reached roughly $24 billion in April 2026. Institutional research teams have added prediction markets to digital-assets coverage alongside tokenization and stablecoins. Some market participants view prediction contracts as a way to hedge event-driven risk.

Several institutional services have started to support the market. Kalshi completed a large block trade organized through Greenlight Commodities and agreed with Clear Street to provide regulated clearing access for hedge funds. FalconX launched margin financing tied to a decentralized exchange called Hyperliquid, and Anchorage Digital began offering custody and staking services for Hyperliquid’s native token, HYPE.

Competition for trading volume is growing. Hyperliquid’s initial Bitcoin outcome market recorded about three times the volume of similar markets on Polymarket and Kalshi combined, according to industry participants. Mesh closed a $75 million Series C at a $1 billion valuation and said its network serves more than 900 million people. Industry executives identified the 2026 FIFA World Cup as a likely period of increased trading activity.

ICE and Kalshi have discussed technical work on on-chain settlement and continuous capital flows between regulated and crypto-native systems to allow faster settlement and reduce operational friction. Clearing, brokerage and on-chain links are expanding, which would allow more hedge funds and institutional desks to access prediction markets through familiar channels.