Phantom is expanding beyond traditional crypto wallet functions by rolling out Kalshi-powered prediction markets to eligible users in the United States.

The new feature allows users to browse and trade event contracts covering areas such as economics, sports, politics and culture directly from the Phantom mobile app.

The launch highlights a broader shift in crypto wallets: instead of serving only as tools for storing tokens and accessing DeFi, major wallets are increasingly becoming full financial interfaces.

Phantom Brings Kalshi Markets Into the Wallet

Phantom began rolling out the feature to US users on October 23, with access expanding gradually.

The integration connects users to Kalshi, a US-regulated prediction market exchange.

Users must complete identity verification through Kalshi before trading.

Once approved, they can access markets through Phantom's Predict tab, choose an outcome and place a position without leaving the wallet interface. (phantom.com)

How Trading Works

Users can fund positions through their Phantom Cash balance or supported Solana-based assets.

According to Phantom's documentation, Kalshi operates the underlying markets, executes trades and handles settlement, while Phantom provides the user interface and movement of funds.

Positions are represented by Solana SPL tokens inside the wallet.

If a contract resolves in the user's favour, Phantom automatically initiates the transfer of available proceeds back to the user's Cash account. (help.phantom.com)

Phantom Received CFTC Relief Before Launch

The rollout follows regulatory work completed earlier this year.

Phantom requested clarification from the Commodity Futures Trading Commission over whether a non-custodial interface connecting users to a regulated exchange would need to register as an introducing broker.

The CFTC granted conditional no-action relief in March.

Phantom says that relief created the regulatory basis for its US prediction-market integration with Kalshi. (phantom.com)

Some US Markets Remain Restricted

Availability is not identical across every US state.

The Block reported that Phantom applies restrictions in Michigan, Nevada and Washington depending on the category of event contract.

Those limitations reflect ongoing legal disputes over how prediction markets interact with state-level gambling laws.

Phantom has said it remains comfortable operating under the federal regulatory framework while complying with applicable restrictions. (theblock.co)

Crypto Wallets Are Becoming Financial Platforms

The significance of the launch extends beyond prediction markets.

Crypto wallets were originally designed primarily to store private keys and allow users to send or receive digital assets.

Modern wallets increasingly include:

• token swaps

• perpetual futures

• stablecoin balances

• tokenized stocks

• DeFi access

• portfolio tracking

• payments

• prediction markets

Phantom already supports several of these functions, showing how quickly the wallet category is evolving.

The competition is increasingly about which wallet can become the primary interface through which users interact with onchain finance.

Solana Remains Central to Phantom

Phantom began as a Solana-focused wallet, and Solana infrastructure still plays an important role in its product ecosystem.

Prediction positions appear as standard SPL tokens, and users can use supported Solana assets to fund trades.

Phantom says users should keep a small amount of SOL available for network fees when using certain payment methods, although trades funded through the Cash account can be gasless. (help.phantom.com)

Prediction Markets Continue to Grow

Kalshi has seen substantial trading activity in 2026.

According to The Block, the platform had recorded more than $291 billion in trading volume during the year by late October.

October volume alone had already reached more than $55 billion by October 23. (theblock.co)

Integrating that liquidity directly into a major crypto wallet could give both platforms access to a broader user base.

What This Means for Crypto Wallets

Phantom's Kalshi integration illustrates how the definition of a crypto wallet is changing.

Wallet providers are increasingly competing not only on security and supported blockchains, but also on the number of financial services available inside the app.

That creates convenience, but it also increases complexity.

Users need to understand that services such as prediction markets involve separate regulatory, liquidity and loss risks compared with simply storing crypto.

Phantom itself warns that prediction-market pricing can be volatile and that users may lose the full amount allocated to a contract. (phantom.com)

For the wallet industry, however, the direction is increasingly clear.

The next generation of crypto wallets may look less like digital vaults and more like all-in-one financial platforms.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: Crypto Daily