Phantom Takes on MetaMask With New Kalshi Prediction Market Integration

TLDR

• Phantom crypto wallet is integrating Kalshi prediction markets for its 20 million users to trade on real-world events directly within the wallet
• Users can trade using any Solana-based tokens including SOL, USDC, CASH stablecoin, and memecoins like Fartcoin without leaving the wallet
• The integration includes a live chat feature for each market, adding a social element to prediction trading
• Kalshi operates under federal oversight from the Commodity Futures Trading Commission (CFTC) as a regulated U.S. event trading exchange
• This follows a similar integration by MetaMask with rival platform Polymarket, showing a trend of wallets expanding prediction market access

Phantom crypto wallet announced Friday it will integrate Kalshi prediction markets directly into its platform. The move brings event trading to Phantom’s 20 million users.

The integration allows Phantom users to trade on real-world outcomes without leaving their wallet interface. Users can bet on U.S. elections, macroeconomic events, and crypto prices through Kalshi’s platform.

Phantom CEO Brandon Millman unveiled the feature at Solana Breakpoint in Abu Dhabi on Friday. He said users can open trades using any Solana-based tokens.

The wallet supports multiple payment options for prediction markets. These include SOL, USDC, and Phantom’s CASH stablecoin issued by Stripe.

Users can even trade using memecoins like Fartcoin (FART). This flexibility eliminates the need for separate deposits or new accounts.

Social Trading Features

Phantom is adding a chat function to each prediction market. The live community chat lets users share insights and track sentiment as odds change.

The platform provides real-time updates on prices, odds, and event developments. Users receive notifications when markets settle.

This social element complements Phantom’s existing trading tools. The wallet already offers features like perpetuals trading and tokenized stocks.

Growing Wallet Competition

The Kalshi integration follows MetaMask’s recent partnership with Polymarket. MetaMask, Ethereum’s most popular wallet, added the prediction market platform for onchain trading.

Trust Wallet has integrated Myriad, another prediction market platform. These partnerships show crypto wallets competing to become all-in-one platforms for users.

Phantom earlier this year introduced its CASH stablecoin. The wallet has steadily expanded beyond basic crypto storage and transfers.

Regulated Market Access

Kalshi operates under federal oversight from the Commodity Futures Trading Commission (CFTC). The platform is a regulated U.S. event trading exchange.

The regulatory status differentiates Kalshi from some competitors. However, prediction markets face potential legal challenges.

A federal court in Nevada ruled that contracts based on sporting events may fall under state gambling laws. This ruling could affect how prediction markets operate going forward.

Prediction markets gained popularity during the 2024 U.S. election cycle. The sector sits at the intersection of crypto and traditional finance markets.

Media outlets have begun integrating prediction markets into their platforms. CNN and CNBC recently announced partnerships with Kalshi for market data.

Sports organizations are also entering the space. The UFC is working with Polymarket while the NHL granted licenses to both platforms.

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