Prediction markets platform Kalshi has recruited a quantitative developer from Citadel, underscoring its efforts to strengthen its engineering and trading technology capabilities as the fast-growing firm continues to expand, according to a report by eFinancial Careers.

Chao Peng has joined Kalshi after spending six years at Citadel, where he worked as a quantitative developer building trading systems. Announcing the move on LinkedIn, Peng said he was excited by the opportunity to help develop the company's trading infrastructure as it enters its next phase of growth.

The appointment comes as Kalshi continues to invest heavily in its technology platform following rapid growth in prediction markets. Founded in 2021, the company remains in an expansion phase, with much of its market infrastructure still under development.

Peng, whose background also includes a stint at fintech firm Beacon and a Master's degree in Financial Engineering from Baruch College, said the attraction of Kalshi was the opportunity to build core components of a relatively young trading platform rather than work on a more mature system.

Kalshi has accelerated its product rollout this year. In May, the company introduced perpetual futures trading, with reported trading volumes surpassing $1bn within a week of launch. It has also unveiled Kalshi Pro, a professional trading interface aimed at active market participants requiring faster execution and the ability to trade multiple markets simultaneously.

The firm has also been strengthening its senior leadership. Earlier this year it appointed former JPMorgan executive and derivatives regulator Sudhir Jain, adding further experience as it seeks to broaden its institutional offering.