Kalshi Prime to accept Bitcoin as collateral via BitGo
Kalshi is partnering with BitGo to let Prime customers use Bitcoin, Ether, and compliant stablecoins as collateral for leveraged perpetual futures trades. Clients can borrow against crypto holdings held at BitGo to fund margin requirements without exiting their positions. The arrangement uses a tri-party lending structure and deepens Kalshi's expansion into crypto derivatives beyond its core event-contracts business.
Kalshi now has a second major distribution channel for its crypto perpetuals after the Webull partnership announced the prior day. Prime clients gain a way to keep Bitcoin exposure while levering up on futures, a structure that mirrors the self-custody pitch of offshore perpetual venues but under a CFTC-regulated umbrella. BitGo supplies the custody rail, so Kalshi does not need to build its own cold-storage stack.
The move shifts competition toward which regulated exchange can replicate the offshore crypto experience most completely. Rivals like Blockchain.com, with its own CFTC license applications pending, must match the product depth or lose the US retail traders Kalshi and Webull are already onboarding. Year-end product additions from Webull will tighten the window.