Cryptocurrency wallet Phantom is launching prediction markets for its 20 million users through a partnership with U.S.-regulated event trading exchange Kalshi, the company said on Friday.
The feature will allow Phantom users to trade based on real-world outcomes, such as U.S. elections, macroeconomic events, or cryptocurrency prices, without leaving the wallet interface. Phantom also introduced a chat feature to the market, adding a social element to prediction markets, the press release said.
Phantom CEO Brandon Millman said on the Solana Breakpoint stage in Abu Dhabi on Friday that users will be able to trade with any Solana-based token, including SOL, USDC and Phantom’s CASH stablecoin, and even memecoins such as Fartcoin (FART).
Phantom’s move follows the trend of crypto wallets adding more features to its platform, such as stablecoins, perpetual contract trading, and prediction markets, aiming to provide crypto users with a fully functional interface.
Kalshi in Phantom follows Ethereum’s most popular wallet, MetaMask, by adding Kalshi’s competitor Polymarket for on-chain prediction markets. Phantom launched its own in-app stablecoin CASH earlier this year, issued by Stripe, and added Perps and tokenized shares.
Prediction markets have become a rapidly growing area at the intersection of cryptocurrencies and traditional markets, gaining popularity in the wake of last year’s 2024 U.S. elections.
Kalshi operates under the federal supervision of the Commodity Futures Trading Commission (CFTC). However, Kalshey and other prediction markets may face headwinds after a Nevada federal court ruled that contracts based on sports results may be subject to state gambling laws.
