- Kalshi has integrated its prediction markets into the Phantom crypto wallet, allowing users to trade event contracts directly.
- The partnership enables over 15 million Phantom users to buy and sell tokenized wagers using tokens like SOL or CASH.
- Kalshi recently migrated its markets to the Solana blockchain and partnered with decentralized finance platforms DFlow and Jupiter.
- The company reached a $5.8 billion trading volume in November and secured a $1 billion Series E funding round, valuing it at $11 billion.
- Kalshi is currently involved in regulatory disputes with several states but won a temporary pause on enforcement actions by Connecticut this week.
Kalshi, a prediction markets operator, has expanded its presence in the crypto space by integrating its trading platform directly within the Phantom crypto wallet. This move allows Phantom’s global user base of over 15 million people to trade tokenized event contracts without leaving the wallet.
Users can now buy and sell stakes on Kalshi’s contracts using tokens like SOL or CASH, a stablecoin linked to the Solana Blockchain that Phantom launched in September. This integration follows Kalshi’s recent transition of its markets onto the Solana blockchain and collaborations with decentralized finance platforms DFlow and Jupiter to manage order-book liquidity on blockchain networks.
John Wang, head of crypto at Kalshi, called the integration the company’s “biggest crypto announcement yet.” He stated, “We would like to have Kalshi’s prediction markets in every large crypto app.” In November, Kalshi recorded $5.8 billion in trading volume, a 32% increase from October, outperforming competitors like Polymarket, which handled $3.7 billion that month.
In addition to these developments, Kalshi closed a $1 billion Series E funding round led by Paradigm. This funding round valued the company at $11 billion. Co-founders Tarek Mansour and Luana Lopes Lara became billionaires, with Lopes Lara, at age 29, becoming the youngest self-made woman billionaire worldwide.
Meanwhile, Kalshi is facing regulatory challenges. Several states, including Connecticut, have claimed that Kalshi’s event contracts qualify as unlicensed online gambling. However, the company argues that approval by the Commodity Futures Trading Commission (CFTC) in 2020 exempts it from such state laws. This week, Kalshi won a temporary stay against Connecticut’s enforcement action.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
