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Crypto wallet provider Phantom will begin supporting trading in Kalshi prediction market contracts for U.S. users starting today, according to The Block. Users will be able to trade Kalshi contracts directly in the Phantom app, and the rollout will expand gradually over the coming weeks.
Trading will be restricted in some areas as Kalshi is in legal disputes with several state governments over its opposition to the application of state gambling laws based on federal regulation. Phantom general counsel Kevin Jacobs said the Commodity Futures Trading Commission’s jurisdiction is clear and saw no issue as long as Phantom’s support model meets the conditions for CFTC enforcement relief. Phantom plans to comply with state-by-state rules while the disputes continue.