Kalshi Expands Cryptocurrency Offerings
Kalshi, a U.S.-based prediction marketplace, has recently broadened its cryptocurrency offerings by incorporating Solana (SOL) as a new funding option for user accounts. This development was announced on May 23, with the company’s team sharing the update via X. The addition of Solana enhances Kalshi’s existing deposit methods, which already include the stablecoin USDC and Bitcoin (BTC), alongside Worldcoin (WLD).
Initially, the platform exclusively permitted deposits through USDC, a stablecoin from Circle. By integrating Solana, Kalshi aims to leverage its growing popularity in the crypto arena to draw a larger number of crypto enthusiasts to its services, thereby intensifying the competition with platforms like Polymarket.
Advantages of Cryptocurrency for Account Funding
Kalshi has seen a rapid rise in the adoption of cryptocurrency for account funding due to various advantages such as swift transaction timelines and higher deposit limits compared to traditional methods like bank transfers and debit cards. The marketplace caters to a wide array of prediction categories, including politics, sports, weather, and cryptocurrency, and operates across all 50 states in the U.S.
Market Predictions and Features
Among the most sought-after features on both Polymarket and Kalshi are cryptocurrency price forecasts. According to their website, Kalshi provides users with numerous markets where they can speculate on the future price movements of major cryptocurrencies, including Bitcoin and Ethereum. For example, traders currently assign a 39% probability to the prediction that Bitcoin’s value might reach as high as $150,000 by 2025.
In a noteworthy political prediction last November, Kalshi observed fluctuating forecasts about the U.S. presidential election, with early bets favoring Kamala Harris before ultimately closing in favor of Donald Trump.
Collaborations and Future Plans
Furthermore, Kalshi has embarked on an exciting collaboration with World App, aimed at integrating regulated crypto-enabled predictions within a mini app for World App users. This partnership will allow Worldcoin holders to fund their Kalshi accounts using the WLD token. Kalshi has also formed partnerships with notable entities such as Robinhood and Zero Hash, enhancing its presence in the evolving digital prediction market.
