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What is Pied Piper?
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What is Pied Piper?
“If we just sold the data to Kalshi in order to list the markets but no one was coming in and placing liquidity, there’s no point in them listing the markets,” Monk said. “We also need to supply the data to the market makers to inform their models.”
Catalist initially received a list of fewer than 10 potential market makers from Kalshi. It has since completed agreements with close to 20 and is engaging with approximately another 20.
That growth reflects the expanding number and variety of sports contracts. ITF tennis is particularly dependent on official data because its more than 60,000 annual matches are not generally televised. Unofficially monitoring a tour moving between locations such as Bogotá and Bali would be difficult, Monk noted.
What is Pied Piper?
Jackpots and free-to-play may be very different propositions, but Wilson judges both against the same unromantic measure: whether they produce value for the operator.
For free-to-play, that process can begin before the customer has committed money. “It’s about building muscle memory, providing achievable incentives to players and gamification,” Wilson explains. By lowering the barrier to participation, a free-to-play game can provide an accessible first interaction with an operator, while repeated play builds familiarity and creates a reason to return.
The format, however, cannot simply be copied and pasted from one market to the next. “We’ve found that the more localised the offering, the better,” Wilson says. “We’re talking about building anything from sumo wrestling to Love Island, as well as the headline sports. Ice cage fighting has been a popular one in a certain market for us.”
