Compare Kalshi and Veda on TVL, fees, revenue and activity to understand how these projects stack up.
Kalshi is a CFTC-regulated event derivatives exchange where users trade binary yes/no contracts on real-world outcomes. Each contract settles at $1 if the event occurs and $0 otherwise, creating a direct, transparent market for probabilistic pricing across politics, economics, sports, weather and more. Founded in 2018 and designated as a U.S. Designated Contract Market, Kalshi operates under federal commodities law rather than state gambling rules, enabling legal trading nationwide. The platform combines traditional exchange infrastructure with compliance tooling including KYC/AML screening, IC360 monitoring for sports-related markets, and real-time surveillance for insider or anomalous activity. Backed by Sequoia, YC, and industry figures such as Charles Schwab and Henry Kravis, Kalshi pioneered regulated event contracts and in 2024 became the first U.S. exchange in over a century to legally list election markets.
Veda tokenises DeFi strategy vaults as ERC‑4626 ‘vTokens’ that stream strategy yield directly to holders. Vault managers can plug into Veda’s automation network to rebalance positions and roll over expiring perps without gas overhead. Early vaults include principal‑protected ETH‑BTC basis trades and leveraged stETH/ETH LP positions.