ProCap Financial, the Nasdaq-listed bitcoin-native and AI-heavy financial services firm founded by Anthony Pompliano, is partnering with prediction market Kalshi "to create a new category of investment research," according to an announcement on Tuesday.
According to the company, this is the first time Kalshi is providing prediction market data to a financial research provider with paying subscribers. Last month, Cathie Wood's ARK Invest turned to Kalshi to inform its investment strategies.
ProCap pitches itself as an "agentic finance firm" that deploys artificial intelligence to find investment opportunities, as it also works to accumulate bitcoins. The firm's research offering, ProCap Insights, also used AI to parse "mountains of data … and agentically write research reports."
Now, ProCap Insights will also fold in and feature Kalshi's real-time event market data. The unit will "create reports on individual prediction markets, various platform trends, data-driven investment strategies, mispriced market contracts, and Kalshi-specific data reports."
Kalshi is one of two leading prediction markets in an increasingly competitive field. Prediction markets operate on the theory that incentivized crowds can offer less biased views into future outcomes — as opposed to the media or subject experts — because participants have skin in the game.
According to Kalshi Research data cited in ProCap’s release, prediction markets outperform Wall Street consensus by 40% across time periods and market conditions. They’ve also matched or exceeded 85% of inflation print forecasts one week in advance, the release said.
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ProCap was formed through a merger with Columbus Circle Capital Corp. in June 2025, with plans to acquire up to $1 billion worth of bitcoin. The combined firm went live on Nasdaq under the ticker BRR, and now owns 5,457 bitcoin as of March. Last month, ProCap shareholders voted to acquire CFO Silvia, an AI agent lab with $30 billion in assets.
Like many bitcoin treasury firms, ProCap has also launched a share repurchase program that has retired more than 3% of its outstanding common stock.
Both Kalshi and its leading rival Polymarket have signed numerous deals with media firms from CNN to Fox to include their event market data. They have also competed in signing deals with sports teams and leagues, with sports betting representing a significant portion of both platforms' volumes.
Kalshi, which won a legal fight with the Commodity Futures Trading Commission to offer election-related contracts, has a larger footprint in the United States compared to Polymarket, which is still working to ramp up services in the country after a multi-year ban.
Prediction markets, including Kalshi and Crypto.com, are engaged in legal battles with several U.S. states, which by and large argue that the platforms fall afoul of local gaming or gambling regulations. Earlier this month, Kalshi won an appeal preventing New Jersey regulators from blocking the firm.
The CFTC, under Chairman Michael Selig, is increasingly favorable to prediction markets and has filed a lawsuit against Illinois, Arizona, and Connecticut, claiming "exclusive jurisdiction" to oversee the emerging category.
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