Self-custody crypto wallet Phantom has announced its foray into the prediction markets space starting next week. At the ongoing Solana Breakpoint 2025 conference, Phantom CEO and co-founder Brandon Millman took centre stage to unveil a partnership with prediction markets giant, Kalshi.
The announcement was easily one of the biggest on the second day of the ongoing conference in Abu Dhabi.
“Starting next week, we’re rolling out prediction markets natively within Phantom. It’s been an absolute pleasure to work with Kalshi on this integration. They’ve done a lot to make prediction markets safe and easy to use for a broader audience, so it was a very natural choice to work together with them to tap a broader crypto native audience,” Millman said.
Backed by Sequoia Capital and Charles Schwab among investment giants, Kalshi’s valuation touched $2 billion in June this year. The platform lets users bet for trading contracts predicting the outcome of future events around sports, finance, entertainment, and politics among other sectors. The New York-headquartered platform is regulated by the CFTC in the U.S..
John Wang, the head of crypto at Kalshi joined Millman on stage to share the development with the global crypto community that has assembled in Abu Dhabi for the string of crypto events that have been going on in the UAE capital since earlier this month.
“I think just like crypto 10 years ago, prediction markets are a net new asset loss growing in the frontier of finance with super spot supersonic speed,” Wang, the crypto-influencer-turned-Kalshi executive said.
With this, Phantom has joined a number of other crypto firms exploring the new emerging sector. Last month, CZ-backed Trust Wallet announced ‘Predictions’, a prediction markets aggregator within the wallet ecosystem.Robinhood is also canvassing for the right region to launch its prediction markets initiative and is considering the EU and the U.K. Just last week, Crypto.comjoined forces with Kalshi to launch a national alliance of prediction market operators.
The crypto community seemingly made a notable pivot towards the prediction markets space after Coinbase CEO Brian Armstrong admitted that he was checking out exchange-related polls on these platforms while announcing the Q3 results earlier in November.
As per Wang, Kalshi’s integration with Phantom Wallet will rope-in fresh users onto the platform from the crypto sector.
Based on the Solana-ecosystem, Phantom wishes to provide an on-chain alternative to the banking process with its wallet ecosystem.
“We’re working hard to give users all the tools that they need to use crypto safely and easily, and that means supporting them throughout their trading journey, every step of the way,” Millman noted. “On mobile, we’ve launched the world’s easiest on the go perps training experience. Our goal is to make tools like perps more accessible, safer and easier to use.”