Phantom wallet integrates Kalshi prediction markets for US users
Crypto wallet Phantom has integrated Kalshi prediction markets for US users, the company announced Thursday. Traders fund positions with CASH stablecoins directly in the app and pay $0.02 per contract. The integration requires in-app identity verification and a Kalshi account. Market access is restricted in Michigan, Nevada, and Washington. Phantom said it is 'confident and comfortable' moving forward despite ongoing state lawsuits targeting Kalshi's sports event contracts. The rollout comes as Connecticut regulators recently ordered Kalshi, Robinhood, and Crypto.com to halt unlicensed sports betting operations in that state.
Phantom's integration turns a crypto wallet into a regulated prediction-market front end, giving Kalshi direct access to millions of crypto-native users who already hold stablecoins. That user base is distinct from Kalshi's retail brokerage customers and could expand volume quickly. The $0.02 per-contract fee and in-app funding remove friction that slows adoption on standalone exchanges.
Phantom is betting on Kalshi's federal registration surviving state challenges that have already stripped preemption in Ohio and Tennessee. If more states follow Connecticut's lead and order halts, Phantom may need to geofence additional markets or pull the product entirely. Competitors like Robinhood and Crypto.com face identical state pressure, yet none have a wallet-native distribution channel like this. The integration tests whether crypto infrastructure can outrun state gambling enforcement.