Phantom has expanded beyond cryptocurrency trading by introducing prediction markets that let eligible US users speculate on real-world events directly through its wallet. The integration with Kalshi brings regulated event contracts into the app, covering cryptocurrency prices, sports and other outcomes. The move gives users another way to engage with financial markets without leaving their existing crypto trading environment.
Kalshi Powers Phantom’s New Trading Feature
According to the press release, users can access the service through Phantom’s new Predict tab. Additionally, traders can explore live market data, sports scores and market discussions before placing trades.
The platform offers short-term Bitcoin contracts that settle every 15 minutes. Users can fund their positions through Phantom Cash balances denominated in the CASH stablecoin.
Meanwhile, Kalshi manages customer verification, accounts and trade execution. The CFTC granted Phantom no-action relief in March, allowing the wallet to connect users with regulated markets under specific conditions.
Legal Challenges Continue Amid Rising Volumes
However, Phantom enters the sector as prediction markets face mounting regulatory disputes across the United States. On Monday, the CFTC sued Utah over its challenge to Kalshi’s event contracts under state gambling laws. Consequently, the dispute highlights ongoing tensions between federal derivatives oversight and state gambling regulations.
Besides, market activity continues to strengthen despite the uncertainty. Kalshi recorded $10.8 billion in cryptocurrency contract volume during the 30 days ending October 27, according to DeFi Rate data.
Related: Strategy Wins Approval to Pay Daily Dividends on Four Preferred Stock Series
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
