> ## Documentation Index
> Fetch the complete documentation index at: https://docs.kalshi.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Introduction

> Welcome to the Kalshi API documentation

# Welcome to Kalshi's API Documentation

This documentation covers the Kalshi Exchange API for real-time market data and trade execution

By continuing to use or access Kalshi's API, you are agreeing to be bound to our [Developer Agreement](https://kalshi.com/developer-agreement)

## The APIs

> **[Predictions APIs](/api-reference)**
>
> Event-contract markets: REST, WebSocket, and FIX.

> **[Perps APIs](/margin)**
>
> Perpetual futures (margin): REST, WebSocket, and FIX.

## Get started

> **[Making Your First Request](/getting_started/making_your_first_request)**
>
> Make your first API call and start trading on Kalshi.

> **[Demo Environment](/getting_started/demo_env)**
>
> Build and test safely against the demo environment.

> **[API Keys](/getting_started/api_keys)**
>
> Generate and manage your API credentials.

> **[Kalshi Academy](https://help.kalshi.com/)**
>
> New to prediction markets? Explore educational resources and tutorials.

## Reference

> **[Rate Limits](/getting_started/rate_limits)**
>
> Token budgets, tiers, and bursting.

> **[Changelog](/changelog)**
>
> Stay updated with the latest API changes.

> **[Glossary](/getting_started/terms)**
>
> Key terms and concepts used across the exchange.

## Specifications

> **[Predictions REST](/openapi.yaml)**
>
> Download `openapi.yaml` for event-contract REST API integration.

> **[Predictions WebSocket](/asyncapi.yaml)**
>
> Download `asyncapi.yaml` for event-contract WebSocket integration.

> **[Perps REST](/perps_openapi.yaml)**
>
> Download `perps_openapi.yaml` for perpetual futures REST API integration.

> **[Perps WebSocket](/perps_asyncapi.yaml)**
>
> Download `perps_asyncapi.yaml` for perpetual futures WebSocket integration.


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