Phantom , a cryptocurrency wallet with over 20 million users, announced a partnership with Kalshi, the world's largest prediction market platform, to launch a new experience that allows users to trade prediction markets directly within their Phantom wallets. This simplifies the previously cumbersome process of logging into different websites and managing funds across platforms into a one-stop experience.
Predicting the market's move towards the mainstream, Kalshi and Phantom mutually reinforce each other's momentum.
Kalshi's prediction market for political and economic data, sports, entertainment, and news events is rapidly expanding. Under the supervision of the U.S. Commodity Futures Trading Commission (CFTC), it has reached institutional-level standards, and its record-breaking trading volume and user growth have cemented its leading position in the prediction market. Now, this mature business model, combined with Phantom 's large user base and smooth user experience, allows ordinary cryptocurrency users to easily participate.
One-click opening: SOL and CASH support a seamless trading process.
Following the integration of Phantom and Kalshi, Phantom users can directly use SOL or Phantom's Solana stablecoin CASH (launched in September) to purchase tokenized contracts in the Kalshi market. No additional account registration or fund transfer to a new platform is required. Users can operate as they have in the past with Phantom, quickly opening positions, browsing popular prediction markets, and tracking odds, prices, and prediction progress. For users interested in political elections, economic indicators, major sporting events, or entertainment topics, trading events they follow will become simple and seamless.
Social chat rooms drive market interest; users can engage in discussions.
Phantom adds social elements to prediction markets. Each prediction event features a live chat room where users can share opinions, exchange views, or quickly discuss odds changes. This interactive mode not only enhances the fun of trading but also makes market sentiment more transparent, allowing both newcomers and experienced traders to gain additional insights from community exchanges. For users already accustomed to token swaps and DeFi interactions on Phantom, prediction markets become a natural extension into a new financial gateway.
Phantom CEO Brandon Millman stated that the platform's mission has always been to make cryptocurrency trading more intuitive, and now they are bringing that simplicity to prediction markets. He pointed out that the integration of Kalshi and Phantom allows users to trade DeFi, stablecoins, perpetual contracts, and prediction markets within the same community, creating a "one-stop experience" for crypto finance.
This partnership is also crucial for Kalshi. Facing Polymarket, a competitor also known for its prediction markets and deeply rooted in the crypto-native community, Kalshi has adopted an alliance strategy. Earlier this month, Kalshi migrated its market to the Solana blockchain and partnered with DeFi platforms DFlow and Jupiter to bring order book liquidity into the on-chain infrastructure. With Solana's high speed and low fees, the tokenized contract trading experience matches the efficiency of Kalshi's off-chain market. It's worth noting that while Phantom supports multiple blockchains, including Ethereum and Polygon, Kalshi currently only offers tokenized positions on Solana. This reflects its competitive strategy: prioritizing resources to create the smoothest and most efficient experience before gradually expanding to other ecosystems.
Kalshi's trading volume surges and major funding rounds
John Wang, Kalshi's new head of crypto, described the partnership as the company's most significant announcement to date in the crypto space. He pointed out that the Solana community has a highly active user base willing to explore new financial instruments, so integrating Kalshi's marketplace into the most popular Solana wallet represents a huge opportunity for penetration and growth.
Kalshi's trading volume surpassed Polymarket's in November, with a remarkable growth rate. According to publicly available data, Kalshi's trading volume reached $5.8 billion that month, a 32% increase from October, while Polymarket reached $3.7 billion. This market competition has become a focal point for new-generation innovative financial platforms vying for user attention and fund flows.
Even more noteworthy is that Kalshi recently completed a $1 billion Series E funding round led by Paradigm, valuing the company at $11 billion. Co-founders Tarek Mansour and Luana Lopes Lara both became billionaires, with 29-year-old Lopes Lara becoming the world's youngest self-made female billionaire. This symbolizes the high recognition that the prediction market's position in the financial system has received from the venture capital market.
However, Kalshi's rapid expansion has also been accompanied by regulatory pressure. Several U.S. states have questioned whether prediction marketplaces constitute unlicensed online gambling, especially when the predicted events involve political elections. Kalshi maintains that its platform is CFTC-approved as a designated contract marketplace, therefore state gambling regulations should not apply.
This article, "Phantom's Collaboration with Kalshi: Cryptocurrency Users Can Directly Open Positions and Participate in Prediction Markets Within Their Wallets," first appeared on ABMedia, a ABMedia .
