Phantom is deepening its push into prediction markets, opening regulated event contracts to eligible U.S. users through Kalshi, an exchange registered with the Commodity Futures Trading Commission (CFTC). The rollout folds crypto, sports, politics, and economic markets into the same self-custodial wallet application customers already use to trade, swap, and hold digital assets.

Prediction markets allow participants to buy and sell contracts tied to the outcomes of real-world events, with contract prices shifting as the perceived probability of each result changes. Kalshi operates a CFTC-regulated venue for precisely this type of event trading in the United States, meaning the contracts change hands under federal derivatives oversight.

Phantom detailed the launch in an announcement on its official blog and a post on X:

America, you're up 🇺🇸 Prediction markets on Phantom are now rolling out to all US users. Call BTC's next move, Sunday's game, or election night—right where you already trade, swap and spend. Discover. Chat. Predict. Powered by @Kalshi

— Phantom (@phantom) October 28, 2026 · View the original post on X

According to the company, the feature is now rolling out to all U.S. users.

Predict Brings Event Trading Inside the Wallet

The new experience, called Predict, lets Phantom users take positions on events without leaving the application. Kalshi performs customer verification, maintains trading accounts, and executes the trades placed by customers, while Phantom acts as the software layer connecting users to those markets.

At launch, markets span crypto, professional and college sports, economics, politics, AI, and other up-to-the-minute events. Notably for crypto traders, the offering includes short-term Bitcoin (BTC) price markets, with contracts that can settle every 15 minutes—unlike one-off event contracts that resolve on a single result such as an election or a championship game. The format brings users a pace much closer to the fast trading style that already exists across crypto markets. The wallet's discovery and chat tools sit alongside the trading experience, letting users follow events and discuss them as odds change.

Trading Works More Like a Token Swap

Phantom describes the interface as familiar territory for current wallet customers. Predictions are funded with Phantom Cash, and once contracts are fulfilled, the proceeds return to the same balance. According to Phantom's support documentation, trades funded from a Cash account are gasless as well, with no network fee attached to those transactions.

The markets feature live pricing, a feed of event data, and a chat room where users can watch sentiment evolve as contract odds move. Existing Kalshi users can link their current accounts, while new users must complete Kalshi's identity verification process before they are able to trade.

CFTC Relief Cleared Phantom's Route Into Regulated Markets

The launch is the outgrowth of a regulatory effort Phantom undertook earlier this year. On March 17, the CFTC's Market Participants Division issued Staff Letter 26-09, which postpones the implementation of broker registration requirements for certain activity. That determination shapes how the product works in practice: the regulated side of each trade—verification, accounts, execution—sits with a CFTC-registered exchange, while Phantom's role remains the software interface connecting to it.

Phantom said the relief allows it to provide its self-custodial software solution that enables users to trade with registered derivatives market makers and exchanges without Phantom itself serving as a broker. The company subsequently claimed it is the first passive software provider to be granted such relief.

Prediction Markets Become a New Battleground for Crypto Wallets

The Kalshi integration allows Phantom to expand beyond token trading and core wallet functions into event-based markets. The shift is significant because the speed at which prices move, the short holding periods, and round-the-clock trading in these markets increasingly align with the habits crypto users have already formed.

The move follows a string of similar tie-ups across the industry, including an NBA partnership with Kalshi and Polymarket structured with CFTC safeguards, and a deal between Gemini and Apex aimed at bringing crypto prediction markets to millions of brokerage users.

Availability remains limited in some regions. Phantom says U.S. Kalshi prediction markets are not available in Michigan, Nevada, and Washington, and some categories of contracts may be subject to further state restrictions—so the specific markets a user can access may depend on where they live.

Phantom's approach points toward an application in which trading and other blockchain-based activity take place entirely in one place. The open questions from here are regulatory rather than technical: which contract categories clear state-level rules, and whether access extends to the states currently excluded.

This article was first reported by Crypto Ninjas.