Cryptocurrency wallet Phantom is rolling out a prediction market for 20 million users through a partnership with U.S.-regulated event exchange Karshi, the company announced Friday.
This feature allows Phantom users to trade based on real-world outcomes such as US elections, macroeconomic events, and cryptocurrency prices without leaving the wallet interface. According to a press release, Phantom will also introduce chat functionality to its marketplace, adding a social element to its prediction markets.
Users will be able to initiate transactions using any Solana-based token, including SOL, USDC, Phantom’s CASH stablecoin, and even meme coins like Fartcoin (FART), Phantom CEO Brandon Millman said on stage at Solana Breakpoint in Abu Dhabi on Friday.
Phantom’s move fits in with the trend of crypto wallets adding features such as stablecoins, perpetual trading, and prediction markets to their platforms, with the aim of providing an all-in interface for crypto users.
The addition of Kalshi to Phantom follows MetaMask, Ethereum’s most popular wallet, and adds Polymarket, Kalshi’s rival for on-chain prediction markets. Earlier this year, Phantom introduced its own in-app stablecoin CASH, issued by Stripe, and added PERP and tokenized stocks.
Prediction markets have emerged as a fast-growing field at the intersection of cryptocurrency and traditional markets, gaining popularity last year in the run-up to the 2024 US election.
Calci operates under the federal oversight of the Commodity Futures Trading Commission (CFTC). But Calci and other prediction markets could face a backlash after a federal court in Nevada ruled that contracts based on the outcome of sporting events can fall under state gaming law.
