Exchanges and brokers
Surveillance evidence from beyond your own book
For exchanges, applicants and brokers: how your events trade on Kalshi and Polymarket, on one clock, with the wallet behind every Polymarket fill, as evidence you can file.
Updated · 21Core AI
What we sell
For your surveillance team, your counsel and your customers.
01 · Surveillance teams at exchanges, applicants and brokers
Book Watch
Your events, watched across Kalshi and Polymarket
Book Watch tells you when trading on Kalshi or Polymarket led your price, on every event you list that we record.
Covers today: esports on Polymarket and Kalshi
Book Watch adds the view from other venues to the surveillance you already run; it does not replace your vendor. It describes market activity and makes no finding of wrongdoing about any person.
What you get
- Your events beside the same events on Kalshi and Polymarket, on one clock
- The seven rules on each event, marked clear or flagged, with the evidence and the ordinary explanation side by side
- Alerts on the schedule set in your engagement letter
- A weekly evidence file with the hash of every input, built to drop into your vendor’s case workflow
- A Case File on request when an event needs a closer look
What it rests on
- The seven rules, run on a public sample Case File
- Polymarket trades placed on the book’s clock
- Every Polymarket fill tied to its wallet
Starts with a 15-minute call, then a paid two-week Diagnostic, credited in full if you go ahead within 60 days.
Ask about Book Watch02 · Exchanges and applicants listing a contract family, and their counsel
Contract Evidence Pack
The numbers counsel needs before a listing
Measured numbers for counsel before a contract family lists, taken from comparable markets that already trade on Kalshi and Polymarket.
Covers today: esports on Polymarket and Kalshi
A Contract Evidence Pack supports your counsel. It is not legal advice, and it does not decide whether a contract can be listed.
What you get
- Depth near the price, and the money it takes to move it 5¢ and 10¢, on comparable markets
- Concentration: the share of trading carried by the largest Polymarket wallets
- Single-actor exposure: where one person’s conduct could settle a contract, and how those markets traded
- A written method with the hash of every input and a citation for every data source
Starts with a 15-minute call, then a paid two-week Diagnostic, credited in full if you go ahead within 60 days.
Ask about Contract Evidence Pack03 · New exchanges courting market makers, and brokers choosing where to route
Market Quality Benchmark
Your book scored against Kalshi and Polymarket
For brokers and apps that route orders: the Execution Quality Report.
A private scorecard of your book, or of the venues you route to, against Kalshi and Polymarket on the same events.
Covers today: esports on Polymarket and Kalshi
A scorecard is private to the client who commissions it. It measures the book and makes no finding about any trader.
What you get
- Spread and depth near the price, event by event, next to Kalshi and Polymarket
- Refill time after a $5,000 trade
- Share of the time both sides were quoted
- Volume concentration, wallet by wallet on Polymarket
- A monthly scorecard to show market makers, brokers or customers as you choose
Starts with a 15-minute call, then a paid two-week Diagnostic, credited in full if you go ahead within 60 days.
Ask about Market Quality BenchmarkWhy now
- CFTC Staff Letter 26-08, 12 March 2026. For every exchange and applicant: surveil each product by its own characteristics. Weigh the manipulation risk in contracts one person or a small group could settle. Document listing analysis and cite its data sources.
- CFTC Staff Letter 26-27, 22 September 2026. Staff may presume contracts on a named person’s words, attendance or interactions readily susceptible to manipulation. Filings should detail safeguards, such as heightened surveillance for anomalous activity and for trading shortly before event information becomes public.
Both are staff views, not new rules. Part of the evidence sits on other venues: Book Watch and a Contract Evidence Pack bring it in.
What we can and cannot see
On the markets we record, we see:
- Every Polymarket fill, with the Polygon wallet on each side and how that wallet traded across our record
- The order book as it stood, on the book’s clock
- On Kalshi, the book and the trades, without accounts: Kalshi does not publish who trades
We cannot see your accounts, or say who is behind a wallet. That needs account records only a venue holds, and it is where our evidence hands over to your team.
Our position
- Independent: not affiliated with Polymarket, Kalshi or any other venue, any league or any game publisher.
- We hold no client capital, accept no deposits, route no orders for anyone and are not an investment adviser. We sell to businesses only.
- We trade esports prediction markets on our own account, which is why the record exists. We never write a report or a Case File on a market we traded. The body that commissions one can have our wallet addresses under NDA to check.
How it starts
Fifteen minutes on screen, then a Diagnostic.
- 1
A 15-minute call
We show you a market like yours from our record, on screen. Nothing to prepare and nothing to sign.
- 2
A paid Diagnostic
Two weeks on your question and your markets. Its fee is credited in full against the engagement if you go ahead within 60 days.
- 3
The engagement
Scope, price and our commitments go into a written engagement letter before you share anything.
Questions
Questions
The venues you do not run. We do not replace your vendor: it watches your book, and Book Watch reads the same events on Kalshi and Polymarket. Your team weighs our evidence alongside its own.
Every esports match on Polymarket and Kalshi, every hour: Counter-Strike 2, League of Legends, Dota 2 and Valorant. Our own capture: Polymarket since 18 August 2026, still recording; Kalshi from 25 August 2026 to 26 September 2026. Vendors that recorded live supply the hours we missed, including Kalshi since 26 September 2026. Every report and delivery lists each hour’s source.
Polygon stamps a Polymarket fill a median 2,027 ms after the venue matched it. On chain time, a wallet that traded before a move can look as if it traded after it. We put every fill back on the order book’s clock, so you see which venue and which wallet moved first.
No. Counsel gets measured numbers it can cite, each with its method and sources. The legal analysis, and the decision to list a contract, stay with your counsel and your exchange.
It depends on your markets and your question, so we quote on the call, not on the site.