> ## Documentation Index
> Fetch the complete documentation index at: https://docs.bravadotrade.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Kalshi on Bravado: Coverage and Rollout Status

> Kalshi is a CFTC-regulated US event exchange. Bravado's Kalshi order books are in rollout; GET /stream/capabilities reports the live per-venue state.

Kalshi is a US event exchange regulated by the CFTC as a designated contract market. Contracts
settle at \$1 if the event happens and \$0 if it does not, so a live price reads as an implied
probability — the same shape as the other venues on this page. Unlike Polymarket and Predict.fun
it is not a conditional-token market on a public chain: contracts are exchange-listed instruments,
identified by a market ticker rather than an on-chain token id.

> [!NOTE]
>
> **Kalshi order books are in rollout and are not callable yet.** `GET /stream/capabilities`
> reports the live per-venue state and is the authoritative answer for what you can subscribe to
> today; it currently returns `implemented: false` for `kalshi`. Check that field rather than
> this page before you build.

Kalshi is a **Market Data venue only**. There is no Kalshi trading, copy-trading or trader
analytics on Bravado, and none is in rollout — see [product coverage](#product-coverage) below.

## What is in rollout

Live order books. When the venue goes live, Kalshi books are served over the
same authenticated WebSocket surface, in the same message envelope, as the venues already
documented in [multi-venue order books](https://docs.bravadotrade.com/api/market-data/venue-order-books.md): one socket, many
assets multiplexed, prices and sizes as decimal strings.

No connection details are published here, because there is nothing to connect to yet. When there
is, `GET /stream/capabilities` will carry the path and the subscription shape for `kalshi`
alongside the other venues, and this page will name them.

## Checking the live state

`GET /stream/capabilities` is the contract for what this venue serves, per organisation, right
now. It separates three facts that are easy to read as one:

| Field | Means |
| - | - |
| `implemented` | Bravado has built the endpoint for this venue |
| `upstream_registered` | the venue's upstream is wired in this deployment |
| `entitled` | your organisation holds the entitlement |
| `reason` | which of the three is missing, when the venue is not usable |

While `implemented` is `false`, there is no path and no subscription to call. Treat a venue named
in that payload as a published status, not an endpoint.

## Access

Kalshi is a **read-only data entitlement**, granted separately from the trading venues. Holding
Polymarket or Predict.fun access does not include it. Market Data connections need a credential
with `stream.read` on an eligible paid plan — see [authentication](https://docs.bravadotrade.com/authentication.md) and
[API credits](https://docs.bravadotrade.com/api-credits.md#authenticated-websocket-credits).

## Product coverage

| Bravado product | Status |
| - | - |
| [Order-book WebSockets](https://docs.bravadotrade.com/api/market-data/venue-order-books.md) | In rollout |
| [Enriched live trades](https://docs.bravadotrade.com/api/market-data/trade-feed.md) | Not available |
| [Data API](https://docs.bravadotrade.com/products/data-api.md) | Not available |
| [Trade API](https://docs.bravadotrade.com/products/trade-api.md) | Not available |
| [Copytrade API](https://docs.bravadotrade.com/products/copytrade-api.md) | Not available |
| [MCP Server](https://docs.bravadotrade.com/products/mcp-server.md) | Not available |
| Combos, UMA resolution | Not applicable — Polymarket mechanisms |

Tax statements, PMWAS reconciliation and entity rollups are Polymarket-only.

## Venue details

| Detail | Value |
| - | - |
| Venue type | CFTC-regulated designated contract market (US) |
| Settlement | Cash-settled event contracts, \$0–\$1 |
| Instrument identifier | Market ticker |
| Bravado coverage | Market Data only |

## Related

* [Supported prediction markets](https://docs.bravadotrade.com/markets/overview.md), coverage by product across every venue
* [Multi-venue order books](https://docs.bravadotrade.com/api/market-data/venue-order-books.md), the shared message format
* [Polymarket overview](https://docs.bravadotrade.com/markets/polymarket/overview.md), the fully supported reference implementation


This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.