Phantom Rolls Out Kalshi Prediction Markets in the US
Users with a Kalshi account can now trade event contracts in Phantom on politics, sports, the economy, and crypto. The launch comes in the middle of new lawsuits from Utah and New York.
Key Takeaways
- Phantom is rolling out Kalshi prediction markets for U.S. users, with event contracts on politics, sports, the economy, and crypto in the app.
- The rollout began on October 23, 2026, and will expand further over the coming weeks; users need a fully verified Kalshi account.
- The launch comes alongside legal pressure on Kalshi, including a lawsuit from Utah and earlier federal and New York proceedings.
Phantom has started rolling out Kalshi prediction markets for users in the United States. That lets users trade event contracts on politics, sports, the economy, and crypto right in the crypto wallet app.
Integration Expands Further
The rollout began on Friday, October 23, 2026, and will expand further over the coming weeks, according to Phantom. The Kalshi integration was already announced in December 2025, but at the time it was still limited for U.S. users.
Anyone who wants to trade must have a linked Kalshi account with full identity verification. That requires, among other things, a U.S. phone number, a government ID, and possibly extra checks through Socure. That makes users direct customers of Kalshi, which is registered with the Commodity Futures Trading Commission as a Designated Contract Market and derivatives clearing organization.
Legal Pressure Remains High
The launch comes amid a broader legal battle around Kalshi. Utah's Attorney General filed a lawsuit on October 20, 2026, accusing the platform of illegal gambling activity. According to the complaint, it also seeks restitution for millions in fees tied to Utah accounts.
That pressure is not happening in isolation. In August 2026, Kalshi also faced a federal ruling that said sports event contracts were not swaps under federal law, which means states can keep using their gambling rules against the platform. Earlier this year, New York's regulator also filed a case against Kalshi with similar accusations.
What This Means for Readers
For European crypto readers, this move shows how wallets are increasingly becoming gateways to products outside the traditional spot market. Phantom uses the CASH stablecoin for funding, among other things, and sends payouts back into the Phantom Cash account. For now, the U.S. rollout is mainly relevant as an example of how crypto apps and regulated event markets are moving closer together.
