Phantom brings Kalshi prediction markets to US users as legal fights mount
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Phantom has opened in-wallet access to Kalshi prediction markets for eligible US users, with a listed combined fee of $0.02 per contract. The launch is being rolled out in stages and ties the wallet more directly to Kalshi’s US event-contract market, while legal disputes over prediction markets continue to move through federal and state channels.
Key claims & sources
What it means
Kalshi is a US prediction-market platform, and Phantom is now putting that market inside a wallet that many crypto users already use for onchain activity. The rollout comes while prediction markets remain entangled in federal and state oversight questions, which is why a wallet-level integration matters beyond a simple product update. The fact that Phantom is offering this to eligible US users shows that access to event contracts is moving closer to mainstream consumer crypto interfaces.
For Phantom users, the practical change is that event-contract trading is no longer confined to a separate platform flow. The wallet now places order entry, fees, and account requirements closer to the user, and the staged rollout means access is being introduced gradually rather than everywhere at once. Builders and exchanges watching the market will see a clearer template for how a wallet can surface regulated financial products without making the wallet itself the exchange.
The larger issue is the line between crypto-native distribution and regulated financial products. A wallet that can route users into prediction markets brings convenience, but it also pulls a consumer-facing crypto app into a space where legal treatment is still contested across jurisdictions. That tension matters because prediction markets sit between entertainment, speculation, and financial contracting, and the legal status of those activities has not settled into one clean rulebook.
Market reaction i
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