CandleFocus

Prediction Market Kalshi's Long-Game Play to Court Crypto Traders

Author: Content Editor
Prediction market platform Kalshi has started accepting USDC stablecoin deposits, allowing US traders to bet on the outcome of the US presidential election and congressional races. This move has attracted a surge of betting volume and positioned Kalshi to compete with Polymarket, a popular crypto-native predictions market platform. Kalshi recorded over $20 million in USDC deposits from approximately 21,000 users in just 36 hours, marking the largest influx of deposits the company has ever seen in that timeframe. The platform also plans to partner with digital asset firms to target a crypto-native audience and is considering building its product on blockchain technology in the future. Kalshi has regulatory approval to offer US politics-related bets and has so far generated over $275 million in trading volume on its electoral markets, with more than $142 million wagered on the presidential election alone. While Kalshi's betting volume on electoral markets is lower than Polymarket's, it is the only regulated prediction markets platform in the US, serving exclusively US clients. Kalshi also has plans to offer foreign politics-focused prediction markets in the future.

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