Kalshi, the U.S.-based prediction market platform, has formed a partnership with Brazil's XP Investimentos to expand internationally for the first time. The collaboration marks a significant step in Kalshi's growth strategy as it seeks to bring its prediction market services to new geographic markets.

XP Investimentos, one of Brazil's largest financial services companies, will serve as Kalshi's partner in the Brazilian market. The partnership represents Kalshi's inaugural move beyond U.S. borders since the company began operations.

Kalshi operates regulated prediction markets where users can trade on the outcomes of various events, from political elections to economic indicators. The platform has gained traction in the U.S. market by offering legally compliant prediction market services.

The expansion into Brazil comes as prediction markets have seen increased interest globally, with regulators in various countries examining how to oversee such platforms. Brazil's financial market infrastructure and XP's established presence in the country likely influenced Kalshi's choice for its first international venture.

Details about the specific structure of the partnership, launch timeline, or regulatory approvals required in Brazil were not immediately disclosed. The move signals Kalshi's ambitions to scale its prediction market model internationally.