diff --git a/algosdk/atomic_transaction_composer.py b/algosdk/atomic_transaction_composer.py
index 926ec832..0ca9aaa3 100644
--- a/algosdk/atomic_transaction_composer.py
+++ b/algosdk/atomic_transaction_composer.py
@@ -714,7 +714,7 @@ def simulate(
             )
 
         simulation_result = cast(
-            Dict[str, Any], client.simulate_transactions(self.signed_txns)
+            Dict[str, Any], client.simulate_raw_transactions(self.signed_txns)
         )
         # Only take the first group in the simulate response
         txn_group: Dict[str, Any] = simulation_result["txn-groups"][0]
diff --git a/algosdk/v2client/algod.py b/algosdk/v2client/algod.py
index 01010026..586b780e 100644
--- a/algosdk/v2client/algod.py
+++ b/algosdk/v2client/algod.py
@@ -18,6 +18,7 @@
 from urllib.request import Request, urlopen
 
 from algosdk import constants, encoding, error, transaction, util
+from algosdk.v2client import models
 
 AlgodResponseType = Union[Dict[str, Any], bytes]
 
@@ -598,48 +599,47 @@ def get_block_hash(
 
     def simulate_transactions(
         self,
-        txns: "Iterable[transaction.GenericSignedTransaction]",
+        request: models.SimulateRequest,
         **kwargs: Any,
     ) -> AlgodResponseType:
         """
-        Simulate a list of a signed transaction objects being sent to the network.
+        Simulate transactions being sent to the network.
 
         Args:
-            txns (SignedTransaction[] or MultisigTransaction[]):
-                transactions to send
-            request_header (dict, optional): additional header for request
+            request (models.SimulateRequest): Simulation request object
+            headers (dict, optional): additional header for request
 
         Returns:
-            Dict[str, Any]: results from simulation of transaction group
+            Dict[str, Any]: results from simulation of transactions
         """
-        serialized = []
-        for txn in txns:
-            serialized.append(base64.b64decode(encoding.msgpack_encode(txn)))
-
-        return self.simulate_raw_transaction(
-            base64.b64encode(b"".join(serialized)), **kwargs
+        body = base64.b64decode(encoding.msgpack_encode(request))
+        req = "/transactions/simulate"
+        headers = util.build_headers_from(
+            kwargs.get("headers", False),
+            {"Content-Type": "application/msgpack"},
         )
+        kwargs["headers"] = headers
+        return self.algod_request("POST", req, data=body, **kwargs)
 
-    def simulate_raw_transaction(self, txn, **kwargs):
+    def simulate_raw_transactions(
+        self, txns: "Sequence[transaction.GenericSignedTransaction]", **kwargs
+    ):
         """
-        Simulate a transaction group
+        Simulate a transaction group being sent to the network.
 
         Args:
-            txn (str): transaction to send, encoded in base64
-            request_header (dict, optional): additional header for request
+            txns (Sequence[transaction.GenericSignedTransaction]): transaction group to simulate
+            headers (dict, optional): additional header for request
 
         Returns:
-            Dict[str, Any]: results from simulation of transaction group
+            Dict[str, Any]: results from simulation of transactions
         """
-        txn = base64.b64decode(txn)
-        req = "/transactions/simulate"
-        headers = util.build_headers_from(
-            kwargs.get("headers", False),
-            {"Content-Type": "application/x-binary"},
+        request = models.SimulateRequest(
+            txn_groups=[
+                models.SimulateRequestTransactionGroup(txns=list(txns))
+            ]
         )
-        kwargs["headers"] = headers
-
-        return self.algod_request("POST", req, data=txn, **kwargs)
+        return self.simulate_transactions(request, **kwargs)
 
 
 def _specify_round_string(
diff --git a/algosdk/v2client/models/__init__.py b/algosdk/v2client/models/__init__.py
index 025e7dea..c9625b4f 100644
--- a/algosdk/v2client/models/__init__.py
+++ b/algosdk/v2client/models/__init__.py
@@ -31,10 +31,15 @@
 from algosdk.v2client.models.dryrun_source import DryrunSource
 from algosdk.v2client.models.teal_key_value import TealKeyValue
 from algosdk.v2client.models.teal_value import TealValue
+from algosdk.v2client.models.simulate_request import (
+    SimulateRequest,
+    SimulateRequestTransactionGroup,
+)
 
 __all__ = [
     "Account",
     "AccountParticipation",
+    "Application",
     "ApplicationLocalState",
     "ApplicationParams",
     "ApplicationStateSchema",
@@ -45,4 +50,6 @@
     "DryrunSource",
     "TealKeyValue",
     "TealValue",
+    "SimulateRequest",
+    "SimulateRequestTransactionGroup",
 ]
diff --git a/algosdk/v2client/models/simulate_request.py b/algosdk/v2client/models/simulate_request.py
new file mode 100644
index 00000000..51d7ed63
--- /dev/null
+++ b/algosdk/v2client/models/simulate_request.py
@@ -0,0 +1,32 @@
+from typing import List, Dict, Any, TYPE_CHECKING
+
+if TYPE_CHECKING:
+    from algosdk import transaction
+
+
+class SimulateRequestTransactionGroup(object):
+    txns: "List[transaction.GenericSignedTransaction]"
+
+    def __init__(
+        self, *, txns: "List[transaction.GenericSignedTransaction]"
+    ) -> None:
+        self.txns = txns
+
+    def dictify(self) -> Dict[str, Any]:
+        return {"txns": [txn.dictify() for txn in self.txns]}
+
+
+class SimulateRequest(object):
+    txn_groups: List[SimulateRequestTransactionGroup]
+
+    def __init__(
+        self, *, txn_groups: List[SimulateRequestTransactionGroup]
+    ) -> None:
+        self.txn_groups = txn_groups
+
+    def dictify(self) -> Dict[str, Any]:
+        return {
+            "txn-groups": [
+                txn_group.dictify() for txn_group in self.txn_groups
+            ]
+        }
diff --git a/tests/steps/other_v2_steps.py b/tests/steps/other_v2_steps.py
index b6bd1b87..63d42b09 100644
--- a/tests/steps/other_v2_steps.py
+++ b/tests/steps/other_v2_steps.py
@@ -1433,7 +1433,7 @@ def get_block_hash(context, round):
 
 @when("I simulate the transaction")
 def simulate_transaction(context):
-    context.simulate_response = context.app_acl.simulate_transactions(
+    context.simulate_response = context.app_acl.simulate_raw_transactions(
         [context.stx]
     )