Phantom integrates Kalshi markets into its wallet for in-app trading

Phantom has integrated Kalshi’s CFTC-regulated prediction markets into its web3 wallet, allowing users to buy and sell tokenized positions tied to real-world events directly in the app. The companies announced the rollout on Dec. 12, 2025.

Within the feature, called Phantom Prediction Markets, wallet holders can fund trades with SOL or Phantom’s CASH stablecoin. Positions reference Kalshi’s markets and can be opened through the same flow as a token swap. No separate account or fund transfers to another platform are required.

Users can track live prices, odds, scores and updates as events unfold, and receive notifications when markets and positions settle. Markets cover politics, crypto, sports and culture. Each market includes an optional community chat for gauging sentiment as odds shift.

Kalshi operates under oversight from the U.S. Commodity Futures Trading Commission. Its event contracts are designed around clearly defined, objectively resolvable outcomes linked to items such as economic data releases, sports seasons and entertainment. The integration brings these regulated markets into a crypto-native interface on Solana.

Phantom positions prediction markets alongside existing wallet tools, such as token swaps and perpetual futures trading.

“We built Phantom to make crypto feel intuitive for everyone, and now we are bringing that same simplicity to prediction markets,” noted Brandon Millman, Phantom’s CEO, in a statement.

Kalshi reports increased trading activity in recent weeks and has expanded distribution through new integrations. According to the company, an integration with Robinhood now accounts for more than half of Kalshi’s market volume. As we reported earlier, Kalshi became CNN’s official partner, with its data integrated into on-air graphics and newsroom workflows led by senior analyst Harry Enten. 

“Phantom opens a new channel for growth by bringing our markets to crypto-native users who want to express opinions on real-world events,” observed Tarek Mansour, Kalshi’s CEO. “At Kalshi, we’re looking to be a leader onchain like we are offchain.”

Prediction markets are expanding, with combined trading volume on Kalshi and rival Polymarket topping nearly $10 billion in November 2025. Kalshi recently raised $1 billion at an $11 billion valuation from investors including Paradigm, Sequoia Capital and Andreessen Horowitz, according to the company. Polymarket received a $2 billion investment from ICE earlier this year and is in talks to raise additional funding at a valuation of up to $15 billion.