Phantom brings prediction markets to US users

Phantom has launched prediction markets for eligible US users through Kalshi, a Commodity Futures Trading Commission-registered exchange, expanding its in-app trading services.

The feature covers Bitcoin (BTC) price movements, sports results and economic events, including contracts tied to short-term cryptocurrency price changes.

“We built this to take Phantom users from a view to a trade inside the app they already use,” according to Phantom Head of Product (Trading) Femi Awomosu.

Users can access the service through a new Predict tab, complete Kalshi’s onboarding requirements and place trades without leaving Phantom’s app.

“Phantom did the regulatory work up front, and it's a model for how prediction markets can reach more people,” according to Kalshi Vice President of Business Development Max Crowley.

The launch follows March regulatory relief under Commodity Futures Trading Commission Staff Letter 26-09, which allowed Phantom to offer qualifying software access without introducing-broker registration, subject to conditions.

Users can fund trades through Phantom Cash balances held in the CASH stablecoin, although state restrictions limit access to certain markets and losses can reach the full amount invested.

The rollout extends Phantom’s trading offering into regulated US event contracts, with availability dependent on user eligibility and applicable market restrictions.