The news: Oddpool, the prediction market data startup co-founded by Avi Arora and Ritesh Malpani, is joining Kalshi. The pair came out of Y Combinator this past spring and raised a $3M seed, using it to build the data layer that helps institutions, economists, and policymakers treat prediction markets as a real asset class.

Zoom in: Arora framed the bet on prediction markets around the information they generate in a LinkedIn post. “Every trade is a signal and has a piece of information embedded in it. And it’s a signal that is sourced from millions of participants rather than a committee.” The decision to join Kalshi came after conversations with Kalshi CEO Tarek Mansour convinced the founders they could build faster from inside the ecosystem than as an outside partner, Arora said.

Why it matters: Kalshi absorbing a data-infrastructure team signals the exchange is moving to build institutional-grade tooling in-house rather than lean on third parties—a tell that prediction markets are maturing from a retail curiosity into something economists and business owners want to price off of. As demand for this data grows, expect the exchanges themselves to keep pulling that capability closer.