Supreme Court · The Block
Phantom releases Kalshi prediction markets to US users, confirms it’s ‘confident and comfortable’ amid state suits
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Crypto wallet provider Phantom is rolling out Kalshi prediction markets to U.S. users, letting them trade event contracts directly on its app.
Key facts
- Phantom quoted a prediction feed of $0.02 per contract, plus a small network fee for moving funds to Kalshi
- Kalshi has recorded more than $291 billion in trading volume this year, data
- The rollout begins Friday, Oct. 23, with access expanding over the coming weeks
- In March, the Commodity Futures Trading Commission issued Phantom a conditional " no action " letter, relieving it from registering as a broker
Summary
The rollout begins Friday, Oct. 23, with access expanding over the coming weeks. The launch comes as states challenge Kalshi's claim that federal oversight protects its event contract offerings from state gambling laws. "Our perspective is that the CFTC’s jurisdiction here is clear," Jacobs told The Block. In March, the Commodity Futures Trading Commission issued Phantom a conditional " no action " letter, relieving it from registering as a broker.