Phantom launches Kalshi prediction markets in US

4.3 Crypto

Oct 23, 2026

Phantom now offers Kalshi-powered prediction markets for US users, enabling in-app event contract trading with a $0.02 fee. KYC is required and trades use the CASH stablecoin.

Phantom, a leading crypto wallet, has integrated Kalshi-powered prediction markets for US users. This feature allows users to trade event contracts on topics like politics, sports, economics, and crypto directly within the app. The integration, announced in late 2025 and launched on October 23, 2026, requires users to complete Kalshi’s KYC process and link or create a Kalshi account. Trades are funded using Phantom’s CASH stablecoin, and all positions are settled through Kalshi, with proceeds returned to users’ Phantom Cash accounts. The trading fee is $0.02 per contract, split between Phantom and Kalshi, plus a variable network fee. Phantom acts as a non-custodial interface, while Kalshi maintains custody of user funds. This rollout expands access to regulated derivatives for retail users and is expected to introduce more Kalshi offerings soon. The launch comes amid ongoing legal and regulatory challenges for Kalshi, including lawsuits from several US states and disputes with CME Group over event contract classification. Users are advised of risks such as capital loss, market volatility, liquidity, counterparty, and regulatory issues.