The crypto wallet Phantom has announced a partnership with prediction market provider Kalshi, integrating Kalshi’s event contracts into its wallet. This partnership enables Phantom's 20 million crypto-user base to trade on tokenized markets directly through their wallet.
Key Takeaways
- Phantom has integrated Kalshi's regulated prediction markets directly into its wallet.
- Users can purchase tokenized positions using Solana tokens or cash.
- The launch reflects Kalshi's broader strategy to expand distribution and liquidity by meeting crypto-native users where they already trade.
With the integration, Phantom customers will be able to access what it dubs Phantom Prediction Markets, which include markets on political, sports, and cultural topics. Crypto users can access these markets directly within the Phantom wallet, utilizing tokens like CASH and Solena to make trades without the need for additional accounts or deposits.
Additionally, the partnership allows Phantom users to view real-time information, including odds, scores, and market updates as they unfold. At the same time, Phantom Prediction Markets will also provide a live community chat feature, allowing users to come together and engage in real time over various markets, bringing with it a social element.
The service aligns with Phantom’s strategy to consolidate all trading functions under one interface, rather than directing users to separate sites.
Enjoying Covers content? Add us as a preferred source on your Google account"We built Phantom to make crypto feel intuitive for everyone, and now we are bringing that same simplicity to prediction markets," said Brandon Millman, CEO, Phantom. "By integrating a layer of tokenized positions referencing Kalshi's regulated event markets with Phantom, users can trade what they care about in real time alongside the same community where they already explore DeFi, perps, stablecoins, and more."
Kalshi engages crypto asset holders
Kalshi's collaboration with Phantom follows its entry into the crypto market through a partnership with another crypto platform, Solana, to roll out tokenized versions of its event contracts.
This marks a major push towards engaging crypto asset holders, who have driven significant activity on other on-chain prediction market platforms primarily in the past.
Tokenization of traditional event contracts is a blockchain asset that can be owned or traded in a way similar to other tokens.
The tokenized contracts replicate a market offered on Kalshi in terms of structure and settlement. However, they enable increased anonymity and cross-platform functionality in decentralized finance environments when executed through a blockchain network.
Integration of these tokenized contracts is now available on Solana, along with support. DeFi platforms DFlow and Jupiter also serve as institutional buyers linking an off-chain order book to these markets on a blockchain network.
This occurs when prediction markets experience a sudden surge in growth. The traded volume of prediction markets totaled nearly $28 billion as of October, with a record of $2.3 billion in the week ending Oct. 20, according to research from Crypto.com.
Kalshi is positioning tokenization as a solution to seize a larger share of this activity by leveraging the global digital asset market, which is valued at approximately $3 trillion.
