Phantom has unveiled a new feature allowing users to trade tokenized events directly within its crypto wallet, integrating with the regulated prediction market, Kalshi. This development reflects a growing trend among crypto wallets to serve as gateways to real-world financial activities.
Phantom Prediction Markets: A New Era in Event Trading
The Phantom wallet has partnered with Kalshi, enabling a streamlined process for users to engage in event-based trading without needing to transfer funds to external platforms. This integration showcases a significant shift as crypto companies increasingly merge on-chain infrastructure with regulated financial products tied to real events, such as economic data and elections.
The newly launched Phantom Prediction Markets product allows users to explore live events, track price movements, and trade tokenized positions linked to Kalshi’s markets, all within the existing Phantom interface. This evolution positions crypto wallets not only as storage tools but as active trading hubs.
How the Phantom-Kalshi Integration Works
Phantom users can now discover trending event markets and monitor real-time odds directly from their wallets. The integration facilitates trading positions that reference Kalshi’s regulated event contracts across categories like politics, economy, sports, and culture. Instead of navigating separate trading platforms, users can manage their positions from the same wallet used for on-chain activities.
This system is built on tokenized representations tied to Kalshi’s markets, linking decentralized wallet infrastructure with regulated event trading. Phantom describes this offering as a way for users to engage with topics that matter to them in real-time, using crypto-native tools to interact with tangible outcomes.
Increasing Interest in Prediction Markets among Crypto Platforms
The announcement from Phantom follows a broader movement among crypto platforms to gain a foothold in the American prediction markets. Recently, Gemini Titan, an affiliate of the leading crypto platform Gemini, received a designated contract market license from the U.S. Commodity Futures Trading Commission. This license allows Gemini to offer event contract trading through its online platform.
In response to this development, Gemini’s stocks surged nearly 14% in after-hours trading, showcasing investors’ growing interest in this segment. Predictive markets have gained traction as traders seek alternative methods to express their views on macroeconomic indicators, elections, and other high-profile events, often moving away from traditional derivative markets.
Regulatory Challenges Shape the Landscape
Despite rising interest, prediction markets are facing increased regulatory scrutiny in the United States. On December 4, the Connecticut Department of Consumer Protection issued cease and desist orders to Robinhood, Kalshi, and Crypto.com, alleging they were providing unauthorized online gambling services. Kalshi promptly filed a lawsuit against the state agency, asserting that its event contracts are permitted under federal law.
A federal judge in Connecticut subsequently ordered the department to suspend its enforcement actions against Kalshi, temporarily halting the cease and desist orders. This ruling provides short-term relief for Kalshi, as legal questions surrounding prediction markets remain unresolved.
Meet William, a proud Bethel University alumnus with a fervent passion for lifestyle and culture topics. His keen interest doesn’t stop there; he’s also deeply engrossed in current events of all kinds. William dedicates himself wholeheartedly to this site, thriving on the collaborative energy he shares with Suzanne, his long-standing partner in crime.
Having navigated their university courses side by side for years, their teamwork on the site is nothing short of dynamic. Together, they bring a unique blend of insights, proving that two heads are indeed better than one in delivering compelling content.
