Phantom Adds Kalshi Prediction Markets as US Event-Contract…
By Abdelaziz Fathi
AI summary of the source article
Crypto wallet provider Phantom has launched Kalshi-powered prediction markets for eligible US users. The integration enables trading in CFTC-regulated event contracts funded via Phantom Cash, while Kalshi oversees verification, trade execution, and settlement.
Why it matters
The arrangement gives Kalshi another distribution channel while allowing Phantom to expand beyond cryptocurrency swaps and wallet services.
Key facts
- Users pay a $0.01 Phantom platform fee and a $0.01 Kalshi exchange fee per contract, with Phantom receiving a portion of Kalshi's fees.
- The integration operates under CFTC Staff Letter 26-09 no-action relief regarding introducing-broker registration requirements for Phantom's software activities.
- Availability varies across states as the CFTC and state authorities dispute whether federal derivatives oversight preempts state gambling laws.
Source excerpt · FinanceFeeds
Crypto wallet provider Phantom has launched Kalshi-powered prediction markets for eligible US users, bringing event-contract trading on Bitcoin prices, sports and other real-world developments directly into its app as the industry faces mounting legal challenges over federal and state regulatory authority.Announced on October 28, the integration allows users to trade CFTC-regulated event contracts…