NEW YORK, NY – 30/10/2024 – (SeaPRwire) – In a landmark collaboration that could redefine the data landscape in decentralized finance and beyond, Stork—a leading provider of decentralized, on-chain data solutions—has joined forces with Kalshi, the largest CFTC-regulated exchange focused on future event outcomes. This strategic alliance will see Kalshi’s high-quality, regulated prediction market data integrated into Stork’s Open Data Market, allowing developers and applications across blockchain ecosystems unprecedented access to reliable data insights.
Through this partnership, Stork’s Open Data Market is set to revolutionize how data is accessed, shared, and utilized on-chain. Kalshi will serve as a first-party data provider within this market, managing a publisher agent that grants any decentralized application (dApp) the ability to access verified, regulation-compliant data for use on any blockchain. This enhanced data accessibility aims to empower a new wave of developers, entrepreneurs, and innovators, making it possible to build the next generation of dApps that leverage predictive insights to deliver impactful user experiences.
Stork’s Open Data Market, which launched earlier this year, has been designed with the explicit mission of democratizing data in the blockchain space. Built upon Stork’s flexible and highly customizable infrastructure, the platform offers developers the ability to access or integrate any data on any chain seamlessly. The introduction of Kalshi’s prediction market data marks a significant expansion of the Open Data Market’s offerings, supporting decentralized innovation with timely, high-accuracy insights from one of the world’s most respected prediction markets.
Prediction markets, especially during critical periods like election seasons, offer crucial insights into public opinion and emerging trends, which developers can use to create applications with deeper analytical power and user engagement. According to Meredith Pitkoff, the founder of Stork Labs, the partnership with Kalshi represents an opportunity to deliver robust and transparent prediction data directly to the hands of developers, supporting their efforts to build transformative, data-driven applications. “Election season is an exciting time for prediction markets,” Pitkoff noted. “With Kalshi, we’re able to provide developers with data that is both transparent and trustworthy, helping them to innovate with confidence and insight in a rapidly evolving space.”
Kalshi’s involvement as a regulated, first-party data provider means that developers within Stork’s Open Data Market will gain access to premium data that is carefully curated and free from manipulation. As a trusted source of prediction data, Kalshi brings a level of transparency and reliability that is essential in today’s decentralized ecosystem, where the quality and integrity of data are paramount. This partnership allows developers to either receive Kalshi’s data directly or to build their own Composite Oracle Services (COS), which can be tailored to their specific requirements. COSs provide developers with the flexibility to customize the data’s sourcing, validation, and redundancy protocols to meet diverse application needs, enhancing both innovation and data integrity in the decentralized space.
The increasing fragmentation of today’s media landscape has led to a growing reliance on prediction markets as a credible source of truth. Prediction data, especially from reputable sources like Kalshi, is viewed as a reliable means to understand market sentiment and anticipate public outcomes. By integrating this data through Stork’s low-latency, on-chain protocol, developers gain instant access to unbiased information—a valuable asset in today’s rapidly evolving world. The partnership embodies Stork’s mission to ensure that data is not an obstacle to innovation but rather a driver of new possibilities on-chain, fueling diverse applications and experiences across all blockchain ecosystems.
Furthermore, Stork’s Open Data Market is designed to foster a dynamic, open ecosystem where data publishers and developers can interact freely and benefit mutually from streamlined data exchanges. By cultivating a vibrant publisher network and pioneering new COS capabilities, Stork’s Open Data Market is expanding rapidly, welcoming innovators across industries who are eager to contribute to and benefit from this decentralized data marketplace.
Kalshi’s contributions also come at a pivotal time in its growth trajectory, as the platform’s volume has surged past $70 million within three weeks following its successful challenge to the U.S. Commodity Futures Trading Commission (CFTC) on election trading bans. This growth, coupled with partnerships with major players like Susquehanna as market makers, has reinforced Kalshi’s position as the premier prediction market in the United States, especially for data surrounding American elections. Kalshi’s data, already a gold standard in the industry, will provide developers in the Open Data Market with unmatched insight into trends and sentiment, establishing new benchmarks in data transparency and trust.
As the demand for decentralized data solutions grows, Stork and Kalshi’s collaboration highlights a forward-thinking approach that enables seamless access to actionable, reliable data. This strategic alliance is expected to shape the future of on-chain applications by giving developers the data resources they need to build platforms that are not only innovative but also backed by credible, real-world insights.
For those interested in following Stork’s journey and the evolution of decentralized data, Stork encourages users to join the community on Twitter/X and stay informed on new developments, innovations, and opportunities. The partnership between Stork and Kalshi is a vital step in transforming data accessibility for decentralized applications, setting a new standard for how data-driven solutions are created in the web3 ecosystem.
About Stork
Stork stands at the forefront of decentralized data provisioning, offering tailored solutions to meet the needs of protocols across the blockchain space. Led by web3 pioneers, Stork developed “Stork for Real Time,” a widely used pricing solution that supports over 2,000 assets and has processed more than $300 billion in transaction value. Stork’s Open Data Market is designed to create free market dynamics between data publishers and developers, removing barriers to data access while promoting transparent interactions. Stork’s mission is built on making data affordable, customizable, and accessible for a wide range of market participants.
About Kalshi
Kalshi, the largest regulated prediction market in America, has emerged as a leader in transparent and trustworthy event-based trading. Known for its instrumental role in overturning the U.S. ban on election trading, Kalshi has seen tremendous growth, reaching $70 million in transaction volume within weeks and attracting leading institutional partners like Susquehanna as market makers. Kalshi’s platform, focused on transparency and trust, provides some of the most accurate and manipulation-free data on American elections, reinforcing its status as a reliable and credible source of prediction data for decentralized applications.
SOURCE: Stork Labs Inc.
by Arrow123
The article is provided by a third-party content provider. SeaPRwire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith.
Sectors: Top Story, Corporate News
SeaPRwire provides real time press release distribution for companies and organizations to 6,500+ media outlets & 3.5 million professional desktops in 90 regions. It distributes press releases in different languages, including: IndonesiaFolk, IndoNewswire, SEATribune, IDNewsZone, LiveBerita, DailyBerita, TaiwanPR, SinchewBusiness, AsiaEase, BuzzHongKong, SingapuraNow, TIHongKong, TaipeiCool, TWZip, AsiaFeatured, dePresseNow, THNewson, KULPR, VNFeatured, MENAEntry, HunaTimes, DubaiLite, ArabicDir, BeritaDaring, TekanAsia, JamKopi …
source https://newsroom.seaprwire.com/technologies/pioneering-the-future-of-on-chain-data-stork-and-kalshi-forge-new-ground-with-decentralized-prediction-markets/