Crypto wallet Phantom is rolling out prediction markets for its 20 million users through a partnership with Kalshi, the US-regulated event exchange, the company announced Friday.
The feature will allow Phantom users to trade on real-world outcomes such as US elections, macroeconomic events or cryptocurrency prices without leaving the wallet interface. Phantom also introduces a chat feature to the markets, adding a social element to prediction markets, the press release states.
Users will be able to open trades using any Solana-based token, including SOL, USDC and Phantom’s CASH stablecoin, or even memecoins like Fartcoin (FART), Phantom CEO Brandon Millman said on stage Friday at Solana Breakpoint in Abu Dhabi.
Phantom’s move comes amid a trend of crypto wallets adding more features such as stablecoins, perpetual trading and prediction markets to their platform, with the aim of offering an all-in-one interface for crypto users.
Kalshi’s addition to Phantom follows MetaMask, Ethereum’s most popular wallet, adding Kalshi’s rival Polymarket for on-chain prediction markets. Phantom introduced its own in-app CASH stablecoin earlier this year, issued by Stripe, as well as additional stocks and tokenized shares.
Prediction markets have become a rapidly growing sector at the intersection of crypto and traditional markets, gaining popularity last year with the 2024 US elections.
Kalshi operates under federal supervision by the Commodity Futures Trading Commission (CFTC). However, Kalshi and other prediction markets could face difficulties after a federal court in Nevada ruled that contracts based on the results of sporting events could fall under the oversight of state gambling laws.
