Prediction Markets Are Coming to Phantom's 20M User Via Kalshi

What to know:

• Crypto wallet Phantom is embedding Kalshi to offer prediction markets to its 20 million users.
• Users can trade on real-world outcomes using any Solana-based tokens directly without leaving the wallet.
• The integration of prediction markets is part of a trend among crypto wallets to expand their features and services, such as MetaMask's partnership with Polymarket.

Crypto wallet Phantom is rolling out prediction markets for its 20 million users through a partnership with Kalshi, the U.S.-regulated event trading exchange, the firm said on Friday.

The feature will allow Phantom users to trade on real-world outcomes such as U.S. elections, macroeconomic events or crypto prices without leaving the wallet interface. Phantom is also introducing chatting function to the marketplaces, adding a social element to prediction markets, the press release said.

Users will be able open trades using any Solana-based tokens, including SOL, USDC and Phantom's CASH stablecoin, or even memecoins like Fartcoin (FART), Phantom CEO Brandon Millman said on stage Friday at Solana Breakpoint in Abu Dhabi.

Phantom's move fits into a trend of crypto wallets adding more features such as stablecoins, perpetuals trading and prediction markets to their platform, aiming to offer an all-in interface for crypto users.

The Kalshi addition to Phantom comes on the heels of MetaMask, Ethereum’s most popular wallet, adding Kalshi rival Polymarket for onchain prediction markets. Phantom earlier this year introduced its own in-app stablecoin CASH, issued by Stripe, and added perps and tokenized stocks.

Prediction markets has emerged as a fast-growing sector at the intersection of crypto and traditional markets, gaining in popularity last year with the 2024 U.S. election.

Kalshi operates under federal oversight from the Commodity Futures Trading Commission (CFTC). However, Kalshi and other prediction markets could face pushback after a federal court in Nevada ruled that contracts based on sporting event outcomes may fall under the oversight of state gambling laws.