Phantom is rolling out Kalshi-powered prediction markets to eligible US users inside its mobile wallet. The launch follows conditional CFTC relief, and some states remain restricted. It shows wallets competing as broader financial apps.
Phantom began rolling out Kalshi prediction markets to US users on October 23, with access expanding gradually. Eligible users can browse and trade event contracts on economics, sports, politics and culture from the Phantom mobile app.
Kalshi is a US-regulated prediction market exchange, and users must complete identity verification through Kalshi before trading. Once approved, they choose an outcome in Phantom's Predict tab and place a position without leaving the wallet.
How positions are funded and settled
Users can fund positions through their Phantom Cash balance or supported Solana-based assets. According to Phantom's documentation, Kalshi operates the underlying markets, executes trades and handles settlement, while Phantom provides the interface and moves the funds.
Positions appear in the wallet as Solana SPL tokens. If a contract resolves in the user's favour, Phantom automatically starts the transfer of available proceeds back to the user's Cash account.
CFTC relief and state restrictions
Phantom asked the Commodity Futures Trading Commission whether a non-custodial interface connecting users to a regulated exchange must register as an introducing broker. The CFTC granted conditional no-action relief in March, which Phantom says created the regulatory basis for the Kalshi integration.
Availability still differs by state. The Block reported that Phantom applies restrictions in Michigan, Nevada and Washington depending on the event contract category, reflecting ongoing legal disputes over how prediction markets interact with state gambling laws.
Kalshi volume and the wallet race
According to The Block, Kalshi had recorded more than $291 billion in trading volume in 2026 by late October. October volume had reached more than $55 billion by October 23.
Modern wallets increasingly include token swaps, perpetual futures, stablecoin balances, tokenized stocks and payments, and Phantom already supports several of these. Phantom itself warns that prediction-market pricing can be volatile and that users may lose the full amount allocated to a contract.
Source: Crypto Daily
Trading involves risk.
Risk Disclaimer
