Event Contracts Gain Another Sign of Maturity as Webull Adds them to Paper Trading

Webull has expanded its paper trading platform to include event contracts alongside stocks, options, crypto, futures and bonds, bringing the products into the same practice environment used for more established asset classes.

The update extends event contracts beyond live trading, allowing users to practise trading them with virtual capital before entering real markets.

The move comes as brokers increasingly add event contracts to the same educational and testing environments already used for equities, options and futures.

Event Contracts Move Into Mainstream Paper Trading

The updated platform combines six asset classes within a single paper trading environment designed to more closely mirror live market conditions.

Alongside event contracts, Webull introduced a revised pricing engine, OpenAPI access and support for more advanced trading workflows.

The OpenAPI addition also extends beyond investor education. By making paper trading accessible through APIs, Webull provides a testing environment for developers building algorithmic strategies and automated workflows before deploying them in live markets.

Webull said users have placed more than 204 million simulated orders since paperTrade launched. Event contracts now sit alongside equities, options and other instruments within the same interface.

Rather than introducing a standalone event-contract simulator, Webull has integrated the products into the same interface used for equities, options and other instruments.

The expansion follows Webull’s February 2025 partnership with Kalshi, through which the brokerage introduced CFTC-regulated event contracts.

Extending those products into paper trading suggests brokers are beginning to treat event contracts similarly to other asset classes that clients typically learn and test before trading with real capital.

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Simulation Broadens Beyond Investor Education

Webull’s announcement comes alongside several examples of simulated event contract environments serving different purposes across the industry.

Earlier this month, proprietary trading firm Tradeify attracted more than 30,000 participants to a simulated prediction-market tournament powered by Plaee’s SimTrader platform.

Rather than offering regulated event contracts, the competition allowed traders to use virtual capital to trade simulated markets linked to football matches and related event outcomes.

Technology providers are also exploring the category. Match-Trade Technologies has demonstrated prediction-market modules to brokers and proprietary trading firms as part of its platform offering, enabling prospective clients to assess the products before deciding whether to deploy them.

Meanwhile, Nadex has long maintained a dedicated demo environment covering event contracts alongside its broader derivatives offering.

Across the industry, simulated environments are increasingly being used not only for investor education but also for product testing, developer workflows and broker evaluation before live deployment.