Crypto Markets
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Kalshi offers a variety of cryptocurrency price markets that allow users to trade contracts based on the price movements of a cryptocurrency, such as Bitcoin or Ethereum. Traders may speculate on the highest price or price range. All crypto market contracts are settled by averaging 60 seconds of CFB Real-Time Indexes (CFB RTIs), which reports a price once per second.
CF Benchmarks is the world’s first and leading digital asset index provider, authorized and regulated by the UK Financial Conduct Authority (FCA). Established in 2016 from the Crypto Facilities Multilateral Trading Facility, CF Benchmarks delivers reliable and robust cryptocurrency pricing benchmarks and data. Trusted by major financial institutions like the Chicago Mercantile Exchange (CME) and other industry leaders, their indices support a wide range of regulated financial products globally. You can learn more about CF Benchmarks here.
CFB Real-Time Indexes (CFB RTIs) are comprehensive indices that aggregate price data for various cryptocurrencies from multiple major exchanges every second. These indexes provide a reliable measure of each cryptocurrency's spot price in U.S. dollars.
Kalshi utilizes CFB RTIs to settle all crypto contracts to comply with CFTC regulations and ensure market integrity across all supported cryptocurrencies. This ensures that the settlement price reflects a true market consensus, maintaining compliance with regulatory standards and protecting our traders by upholding the integrity of our trading platform.
The expiration value for each crypto contract is determined based on the relevant CFB RTI at a specific date and time. The CFB RTI collects price data every second from major exchanges and averages these prices over the minute leading up to the expiration time, excluding the top 20% and bottom 20% to remove outliers. This averaged value at the expiration time is then used as the expiration value for settling contracts, ensuring a fair and accurate reflection of the cryptocurrency's market price at that moment. Kalshi then takes these 60 reported prices and excluding the top 20% and bottom 20% of prices to eliminate outliers. This methodology ensures that CFB RTIs accurately reflect overall market sentiment and reduce the risk of price manipulation from any single exchange.
If you still need help, please contact Kalshi support here. We have a small but mighty team ready to help you out with any issues or questions you might have. All of the Kalshi support team is US-based and human.