Phantom swaps prediction market backend from Kalshi to World.xyz
Crypto wallet Phantom has replaced Kalshi with World.xyz as the backend provider for its in-app prediction markets on Solana. World, which operates as World Prediction Markets, is issuing tokenized event contracts reachable directly inside Phantom's interface. The move positions World as an on-chain competitor to established platforms. Phantom, which claims over 20 million users, had previously posted risk warnings about event-contract trading.
For Phantom, ditching Kalshi for World reopens the question of whether its 20 million users want regulated event contracts or crypto-native on-chain alternatives. The swap was quiet — no terms or rationale disclosed — suggesting a tactical retreat from Kalshi's CFTC-regulated stack toward World.xyz's unregistered Solana infrastructure. That exposes Phantom to the same regulatory crossfire already hitting Kalshi and Polymarket, but without the compliance shield of a licensed exchange.
The risk is execution friction: if World's Solana prediction market launch on Phantom wallet stumbles on oracle delays or contract settlement, users revert to centralized competitors instantly. Phantom is betting that wallet-native access trumps regulatory comfort; the next proxy is whether trading volume follows the integration or stays on established venues.
World's Phantom launch adds a major wallet-native on-ramp for on-chain event contracts, testing retail distribution against exchange-based access.