Phantom Launches Kalshi Prediction Markets for US Users

Phantom's move pushes a wallet provider into regulated event contracts, a notable blurring of the line between self-custody software and brokerage-style products. The state carve-outs and Kalshi's active litigation risk mean the rollout's geographic footprint is likely to be shaped by courts as much as product decisions. For US users, the practical question is whether CASH-funded markets become a durable wallet feature or a constrained pilot; the open question is how state challenges to prediction markets resolve and whether other wallet providers follow into this category.