Phantom brings Kalshi prediction markets to US users

• Phantom is rolling out Kalshi event contracts to US users through its mobile app.
• Users will fund trades through Phantom Cash, with access expanding over coming weeks.
• State-level legal disputes are shaping which prediction markets users can access.

Phantom is rolling out Kalshi event contracts to US users through its app, according to an exclusive report by The Block.

The rollout began on 23 October, with access expanding over the following weeks and identity checks required through Kalshi.

“Our perspective is that the CFTC’s jurisdiction here is clear,” Phantom General Counsel Kevin Jacobs said in a statement.

Phantom will restrict selected market categories in Michigan, Nevada and Washington while legal disputes over state gambling laws continue.

Jacobs said “more ways to pay are coming soon” as Phantom prepares to expand payment options for event contracts.

Users will fund trades with CASH, Phantom’s dollar-pegged stablecoin, while Kalshi handles trading accounts, execution and settlement.

Kalshi has recorded more than US$291 billion in trading volume this year, according to data cited by The Block.

The rollout extends prediction-market access through crypto wallets while state-level legal challenges continue to shape availability across the United States.