Crypto wallet Phantom is rolling out prediction markets for its 20 million users through a partnership with Kalshi, the US-regulated event exchange, the firm said on Friday.
The feature will allow Phantom users to trade real-world results, such as US elections, macroeconomic events, or cryptocurrency prices, without leaving the wallet interface. Phantom is also introducing chat functionality to the markets, adding a social element to prediction markets, according to the press release.
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 fits into a trend of crypto wallets adding more features such as stablecoins, perpetual trading and prediction markets to their platform, aiming to offer a comprehensive interface for cryptocurrency users.
Kalshi’s addition to Phantom comes on the heels of MetaMask, Ethereum’s most popular wallet, adding Kalshi’s rival Polymarket for on-chain prediction markets. Phantom earlier this year introduced its own in-app stablecoin CASH, issued by Stripe, and added tokenized stocks and tokens.
Prediction markets have emerged as a rapidly growing sector at the intersection of crypto and traditional markets, gaining popularity last year with the 2024 US elections.
Kalshi operates under the federal supervision of the Commodity Futures Trading Commission (CFTC). However, Kalshi and other prediction markets could face a blowback after a federal court in Nevada ruled that contracts based on the results of sporting events may fall under the supervision of state gambling laws.
