diff --git a/BinaryObjectScanner/Protection/KalypsoLauncher.cs b/BinaryObjectScanner/Protection/KalypsoLauncher.cs
new file mode 100644
index 00000000..f9db47cf
--- /dev/null
+++ b/BinaryObjectScanner/Protection/KalypsoLauncher.cs
@@ -0,0 +1,90 @@
+#if NET40_OR_GREATER || NETCOREAPP
+using System.Collections.Concurrent;
+#endif
+using System.Collections.Generic;
+using System.Linq;
+using BinaryObjectScanner.Interfaces;
+using SabreTools.Matching;
+using SabreTools.Serialization.Wrappers;
+
+namespace BinaryObjectScanner.Protection
+{
+    /// <summary>
+    /// Kalypso Launcher is a launcher used by Kalypso Media games. It is responsible for game activation via product keys.
+    /// Several Kalypso developed games are available on Steam, but the launcher isn't able to be (officially) disabled: https://www.reddit.com/r/RailwayEmpire/comments/nktojh/skip_kalypso_launcher_from_steam/
+    /// Assumed to be present on all Kalypso Media games on PC since at least 2011 (as it is present in Redump entry 95617), though this needs to be confirmed.
+    /// The internal name of the Kalypso Launcher may be "Styx", as it is present as the File Description and Product Name in various versions of "KalypsoLauncher.dll".
+    /// Kalypso FAQ, which includes information about Kalypso Launcher: https://www.kalypsomedia.com/us/frequently-asked-questions
+    /// It was introduced in or before January 2011, based on this forum post introducing it: https://web.archive.org/web/20120524150700/http://forum.kalypsomedia.com/showthread.php?tid=7909
+    /// 
+    /// Known versions:
+    /// 1.2.0.12: Found in Redump entry 95617.
+    /// 2.0.4.2: Newest version as of 3/10/2024, downloaded from updating the installed game from Redump entry 95617.
+    /// </summary>
+    public class KalypsoLauncher : IPathCheck, IPortableExecutableCheck
+    {
+
+        /// <inheritdoc/>
+        public string? CheckPortableExecutable(string file, PortableExecutable pex, bool includeDebug)
+        {
+            // Get the sections from the executable, if possible
+            var sections = pex.Model.SectionTable;
+            if (sections == null)
+                return null;
+
+            // TODO: Investigate if there are any viable checks for the game EXE itself.
+            // "Styx" is found as the File Description and Product Name in "KalypsoLauncher.dll", but checks aren't included due to the risk of false positives.
+
+            var name = pex.InternalName;
+
+            // Found in "KalypsoLauncher.dll" in Redump entry 95617.
+            if (name?.Contains("KalypsoLauncher.dll") == true)
+                return $"Kalypso Launcher {pex.GetInternalVersion()}";
+
+            name = pex.OriginalFilename;
+
+            // Found in "KalypsoLauncher.dll" in Redump entry 95617.
+            if (name?.Contains("KalypsoLauncher.dll") == true)
+                return $"Kalypso Launcher {pex.GetInternalVersion()}";
+
+            // Get the .text section strings, if they exist
+            var strs = pex.GetFirstSectionStrings(".rdata");
+            if (strs != null)
+            {
+                // Found in "TFT.exe" in Redump entry 95617.
+                if (strs.Any(s => s.Contains("@KalypsoLauncherXml")))
+                    return "Kalypso Launcher";
+            }
+
+            return null;
+        }
+
+        /// <inheritdoc/>
+#if NET20 || NET35
+        public Queue<string> CheckDirectoryPath(string path, IEnumerable<string>? files)
+#else
+        public ConcurrentQueue<string> CheckDirectoryPath(string path, IEnumerable<string>? files)
+#endif
+        {
+            var matchers = new List<PathMatchSet>
+            {
+                // Found in Redump entry 95617.
+                new(new FilePathMatch("KalypsoLauncher.dll"), "Kalypso Launcher"),
+            };
+
+            return MatchUtil.GetAllMatches(files, matchers, any: true);
+        }
+
+        /// <inheritdoc/>
+        public string? CheckFilePath(string path)
+        {
+            var matchers = new List<PathMatchSet>
+            {
+                // Found in Redump entry 95617.
+                new(new FilePathMatch("KalypsoLauncher.dll"), "Kalypso Launcher"),
+            };
+
+            return MatchUtil.GetFirstMatch(path, matchers, any: true);
+        }
+    }
+}
diff --git a/README.md b/README.md
index 2369b1ab..c9078b49 100644
--- a/README.md
+++ b/README.md
@@ -96,6 +96,7 @@ Below is a list of protections detected by BinaryObjectScanner. The two columns
 | IndyVCD | False | True | Unconfirmed¹ |
 | INTENIUM Trial & Buy Protection | True | False | |
 | JoWood X-Prot (v1/v2) / Xtreme-Protector | True | False | |
+| Kalypso Launcher | True | True | |
 | ~~Key2Audio~~ | True | True | Existing checks found to actually be indicators of OpenMG, not key2Audio specifically. |
 | Key-Lock (Dongle) | True | False | Unconfirmed¹ |
 | LabelGate CD | True | True | Currently only LabelGate CD2 is detected. |