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Read Full BioPrediction markets platform Kalshi announced on Monday that it will transition to 24/7 trading starting this Thursday.
Previously, the site was closed for five hours a day between 3 a.m. and 8 a.m. ET; however, it will now close for only two hours a week on Thursday, between 3 a.m. and 5 a.m. ET.
The company announced the new expanded hours in an announcement on Discord, stating, “The night owls have been asking… when can we trade overnight? We are super excited to announce our brand new trading hours!”
Starting this Thursday (August 7th, 2025) at 5 a.m. ET, Kalshi will be open 24/7 for trading with the exception of routine maintenance. Maintenance will occur weekly from 3 a.m. and 5 a.m. ET on Thursday mornings.
CFTC Receives Warnings About 24/7 Trading
In April of this year, the Commodity Futures Trading Commission (CFTC) Acting Chair Caroline A. Pham requested public comments on the topic of 24/7 trading.
Pham stated, “As I have long said, the CFTC must take a forward-looking approach to shifts in market structure to ensure our markets remain vibrant and resilient while protecting all participants.”
The Futures Industry Association (FIA) responded, warning about “significant operational, infrastructure, risk, compliance and regulatory issues that require careful consideration” for the CFTC.
As a result, the organization stated that it “does not support extending trading and clearing in CFTC-regulated derivatives markets to a 24/7 basis until such issues have been systematically identified, assessed, and resolved”.
Similarly, the Managed Funds Association “cautioned the CFTC and other regulators against premature action, warning that if they move to 24/7 trading before trading infrastructure is fully prepared, there could be unintended consequences affecting the liquidity and efficiency of U.S. financial markets.”
Combined industry associations from banks and securities firms also argued that the feasibility of 24/7 trading and clearing must be thoroughly evaluated.
CFTC Focuses on Benefits Over Risks
Pham responded to the comments, emphasizing that while considering the risks, the benefits of 24/7 trading should also be taken into account. In a June keynote address, she commented, “While there is a natural tendency to focus on the risks created by 24/7 trading, CFTC staff is also aware that weekend trading may allow for more real-time risk-reducing trades in response to unexpected events.”
Kalshi’s move to go to 24/7 trading was self-certified, with the company notifying the CFTC of the change on July 23.
Coinbase also introduced 24/7 trading in May, and the CFTC stated that it is monitoring the case to gain a better understanding of the benefits as well as any potential downsides.
Critics have argued that the ability of platforms to self-certify changes that have not been officially approved by the CFTC are problematic.
Better Markets, a non-profit working for greater transparency, accountability, and oversight in financial and commodity markets, previously called the self-certification process a “sneaky end run around the CFTC review process” and said it prevents “the CFTC and others from thoroughly addressing the very serious issues raised”.
Kalshi Presses Ahead with Expansion Despite Losing Court Battle
The announcement came at a time when Kalshi suffered one of its first negative rulings in court. A Maryland judge this week declined to grant the company a preliminary injunction in its lawsuit against the state’s gambling regulator.
Judge Adam Abelson ruled that Kalshi had failed to show the “Commodity Exchange Act (CEA) preempts Maryland’s gaming laws.”
The ruling contradicts previous decisions in Nevada and New Jersey. It may signal a turning point in Kalshi’s ability to expand without any significant limitations imposed by the CFTC or state regulators.
