Phantom Expands Kalshi Prediction Markets Across US

The significance here is distribution rather than product: a consumer wallet is becoming a front end for regulated event contracts, which puts prediction markets in front of users who may never have opened Kalshi directly. The state carve-outs are the tell — access remains a patchwork, and verified Kalshi accounts keep the regulated venue, not the wallet, as the counterparty. Worth watching is whether wallet-native access becomes a repeatable channel for regulated venues, and whether the excluded states signal a broader state-by-state constraint on how far this model can scale.