Will Kalshi Offer a US Election Market by October 25th?
|Market Open Date||Market Close Date||Currency||Profit Fee|
This market will resolve positively if Kalshi (https://kalshi.com/) adds at least one tradable contract dealing with control of the US House or US Senate by October 25, 2022 at 11:59PM ET.
Context: On July 19, 2022, KalshiEX LLC submitted a request with the CFTC (Commodity Futures Trading Commission) to add financial contracts dealing with political control of the US House/Senate, in accordance with Section 5c(c) of the Commodity Exchange Act.
There are "maker subsidies" and "taker fees" on this market. The taker fees apply when you match an existing order on the order book, whereas the maker subsidy happens when you place an unmatched order that is matched later. The maker subsidies are .025 times the price, times the potential profit (e.g., Maker Subsidy per share = .025*Price/100*(1-Price/100)). The taker fees are .075 times the price, times the potential profit (e.g., Taker Fee per share = .075*Price/100*(1-Price/100)). Thus, the maker subsidy to buy 100 shares at 20 cents would be: 100*.025*(20/100)*(80/100) = $0.40, and the taker fee would be $1.20. The full fee schedule is here. End Date: 10/25/2022
Residents of the US are not eligible to participate in this market.