CFTC-regulated prediction market Kalshi is experiencing one of its most successful months yet, thanks in great part to its charge into sports markets, as it also makes concrete moves in the crypto space.
Kalshi’s monthly trading volume surged past $1.3 billion on Thursday morning with nearly two weeks left to go in the month. That is growth of more than 5,900% since last year’s recorded monthly volume of $21.48 million. In an interview with crypto publication The Block, Kalshi shared that it currently accounts for 62.2% of global prediction market volume.
On Wednesday, the prediction market announced the debut of KalshiEco, a partnership with the second and sixth largest decentralized finance (DeFi) protocols, Solana and Coinbase’s Base, respectively, to offer builders, traders, and creators grants. The initiative aims to “[push] the frontier of prediction markets” to promote offchain and onchain innovation.
Introducing @KalshiEco: a hub to support builders, traders, and creators pushing the frontier of prediction markets.
We’re backing offchain and onchain innovation, with dedicated grants partnering with @Solana and @Base.
Come join us in building the future of trading the future. pic.twitter.com/maeSBMhSmP— Kalshi (@Kalshi) September 17, 2025
The new program promises hands-on support for selected participants with the community operating on a growth flywheel model: “Builders launch new projects → creators showcase fresh gems → the spotlight brings even more exposure back to builders.”
Kalshi’s entrance into crypto began taking shape earlier this summer with the hiring of John Wang, a prominent cryptocurrency influencer, as its Head of Crypto. The move signaled a strategic push toward Web3 and digital assets, laying the groundwork for the company’s deeper engagement with blockchain ecosystems like Solana and Base, now formalized through the launch of KalshiEco.
Kalshi takes steps into crypto industry
Kalshi has long established a reputation as a centralized and regulated prediction markets platform, operating purely within the traditional finance industry. However, as the crypto industry continues to see growing institutional interest, especially in the United States, it was not long until the platform would also start to tap into digital assets.
According to a September 10th JPMorgan markets report cited by CoinDesk, institutions now hold 25% of Bitcoin (BTC) exchange-traded products. And while adoption still remains in early stages, momentum continues to build. The total-value locked (TVL) in DeFi protocols has surged past $160 billion, according to data on DefiLlama, the highest TVL reported in three years since DeFi summer of 2022.
Kalshi’s partnership with Solana and Base is not the platform’s first foray into the digital assets industry. At the end of August, the company hired cryptocurrency influencer John Wang as its Head of Crypto in a bid to strengthen its ties in the space.
However, Kalshi’s expansion into the crypto industry has raised some eyebrows. Especially when compared to Polymarket, which has long been seen as the leading platform for crypto-native prediction markets. Speaking with Prediction News, Dylan Dewdney, the co-founder and CEO of Kuvi.ai, called Kalshi’s recent “tactics against Polymarket…dirty,” highlighting that in the current landscape, Polymarket’s integration with X is the decisive move connecting prediction markets to real-time cultural and informational flows.
Referring to Kalshi’s integration with Solana, Dewdney added:
“Traders, developers, and even Solana’s community of builders are looking for authentic ecosystems where liquidity and information intersect. Right now, that’s Polymarket.”
KalshiEco could signal shift in how prediction markets operate
The crypto industry’s growing influence in the United States can no longer be disputed, and Kalshi’s launch of KalshiEco could mark more than a tactical partnership, signaling a structural shift in how prediction markets may evolve in the coming years.
By combining its regulated status with two of the most influential blockchain ecosystems, Kalshi is effectively carving out a new category: one that straddles traditional finance compliance and crypto-native scalability. This could effectively give Kalshi an edge with institutions, regulators, and mainstream users, but also open up a path into a $4.1 trillion industry.
In a note shared with clients on Thursday, Bernstein analysts are speculating that prediction markets could become the new frontier for information, merging crypto, artificial intelligence, and news. Apart from Kalshi and Polymarket, other major players have also entered the game, including Robinhood and Coinbase.
However, as competition continues to heat up and the lines between traditional finance and crypto continue to blur, Kalshi’s push into Web3 may not just reshape the future of prediction markets but also redefine who gets to lead it.
