Cantor opens Kalshi block trading to institutional clients via Susquehanna
Cantor Fitzgerald has opened Kalshi's prediction markets to thousands of its institutional clients, enabling block trading of event contracts through the Wall Street broker-dealer. Susquehanna International Group will serve as the flagship market maker, providing pricing and liquidity. The partnership gives Kalshi access to Cantor's institutional distribution network and marks a significant channel expansion beyond its direct retail platform. The move was announced on August 19, 2026.
Cantor's distribution pipe turns Kalshi from a retail venue into an institutional-grade asset class overnight. Thousands of hedge funds and family offices now reach event contracts through existing prime-brokerage relationships, bypassing the onboarding friction that has slowed adoption. Susquehanna's dedicated market-making desk means block-size trades get filled without moving prices, a prerequisite for institutional-size positions.
For Kalshi, the channel diversifies revenue away from Robinhood's API and direct retail flow, reducing dependence on any single partner. Competitor Polymarket lacks comparable broker-dealer distribution, leaving it reliant on its own CFTC-regulated rails and banking relationships that JPMorgan recently severed. The first quarterly volume figures from Cantor-sourced trades will set the benchmark for whether institutional prediction-market demand is real or experimental.
Cantor becomes the second institutional infrastructure play this week, joining Trading Technologies' dual-venue setup, to route Wall Street capital into regulated prediction markets through broker-dealer and market-maker plumbing rather than direct exchange onboarding.