Phantom Taps Kalshi to Explore Prediction Markets

Multi-chain wallet provider Phantom has dipped its toes into the prediction markets through a collaboration with the prediction platform Kalshi. This initiative enables over 20 million Phantom users to share their opinions on trending topics across crypto, sports, politics, culture, and more.

Phantom Welcome Prediction Markets

Dubbed Phantom Prediction Markets, the new product allows users to trade real-world events within the Phantom Wallet via the Solana network. According to the wallet provider, the process is as simple as swapping a token on-chain.

To make prediction trading simple, Phantom allows users to place trades with Solana tokens or CASH. Participants can share their views on tokenized positions by selecting Yes or No, thanks to the technology’s binary nature. They can also monitor live prices, scores, odds, and notifications from the digital asset wallet.

The new product also includes a live community chat for social interaction between users. Here, bettors and market watchers can share ideas and monitor the prevalent sentiment as odds shift.

Notably, the service is not open to users in every jurisdiction. Phantom noted that it would roll out the prediction service to eligible users within the coming weeks.

Kalshi Dives Deep Into Crypto

Despite being launched in 2018, Kalshi did not natively support blockchain technology. It was only recently, after Polymarket had quickly grown on-chain, that Kalshi began paying attention to the crypto ecosystem.

Weeks ago, Kalshi explored the Solana network to debut its tokenized predictions. Solana-based decentralized projects like Jupiter also tapped its technology to explore the prediction markets.

Admittedly, Kalshi currently dominates the U.S. prediction markets despite Polymarket’s recent re-entrance. Still, it has yet to delve deep into crypto like its rival. Polymarket revealed recently that it would debut a native token.

Kalshi’s CEO, Tarek Mansour, emphasized that the prediction company’s partnership is part of its effort to go on-chain.

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