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“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.

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He also questioned the government’s involvement with the state-owned entities Holland Casino and Nederlandse Loterij, especially in its assessment on how to limit gambling harms.

Holland Casino CEO Petra de Ruiter last week told iGB that she was proud of the player protection efforts in place across Holland Casino’s products.

Holland Casino has a responsible gambling board, which includes scientists, experts with lived experience and their own RG executives. They meet with the board every few months to talk over current processes, and the board challenges the operator’s ideas and implementations,