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Phantom Expands Kalshi-Powered Prediction Markets to All US Users
· Confirmed
In Short: Phantom has expanded its Kalshi-powered prediction markets to all eligible US users, offering a range of markets including Bitcoin price moves, sporting events, and elections.
Phantom announced the wider availability of its Kalshi-powered prediction markets on October 28, following an initial US rollout on October 23.
The expanded markets include Bitcoin price predictions, sporting events, and election outcomes.
Phantom's fee schedule lists a combined prediction fee of $0.02 per contract, split evenly between a $0.01 Phantom platform fee and a $0.01 Kalshi exchange fee.
Each market includes a chat feature where users can exchange views and discuss changing prices and implied probabilities.
CFTC staff previously issued conditional no-action relief to Phantom, allowing it to connect users with regulated markets without registering as an introducing broker, subject to stated conditions.
The NBA has partnered with prediction markets Polymarket and Kalshi as part of a push to protect the integrity of the game, according to the league's announcement.
Traders on Kalshi and Polymarket are pricing Elon Musk as near-certain to become the world's first trillionaire, with odds above 90% that he will cross the $1 trillion net worth milestone before 2027.
Kalshi is moving to end a program that pays traders for generating volume, nearly a year before its scheduled expiration.
Lobbying disclosures show that Kalshi has received $480,000 from a firm to advocate for federal protection of contracts like those offered on the platform.
Large financial platforms like Robinhood and Webull now integrate popular prediction markets directly into their apps, allowing users to place six-figure bets.
Prediction markets including Kalshi and Polymarket are facing mounting legal uncertainty as US federal and state regulators clash over their classification as financial exchanges or gambling operations.
What this adds
Phantom's expansion follows the Promotion and Regulation of Online Gaming Rules that went into effect in May, categorizing prediction markets alongside sports betting and other gambling operations.
The NBA's partnership with Kalshi and Polymarket underscores the growing acceptance of prediction markets in major sports leagues.
The lobbying efforts by Kalshi suggest a strategic push to secure federal protections for its market operations.
Background
Kalshi, a federally-regulated prediction market exchange, has launched cricket prediction markets for users in all 50 states, Washington, D.C., and U.S. territories.
Kalshi, a federally-regulated prediction market exchange, has launched cricket prediction markets for users in all 50 states, Washington, D.C., and U.S. territories, according to CBS Sports.
What's confirmed
- Phantom announced the wider availability of its Kalshi-powered prediction markets on October 28, following an initial US rollout on October 23.
- The expanded markets include Bitcoin price predictions, sporting events, and election outcomes.
- Phantom's fee schedule lists a combined prediction fee of $0.02 per contract, split evenly between a $0.01 Phantom platform fee and a $0.01 Kalshi exchange fee.
- Each market includes a chat feature where users can exchange views and discuss changing prices and implied probabilities.
- CFTC staff previously issued conditional no-action relief to Phantom, allowing it to connect users with regulated markets without registering as an introducing broker, subject to stated conditions.
- The NBA has partnered with prediction markets Polymarket and Kalshi as part of a push to protect the integrity of the game, according to the league's announcement.
- Traders on Kalshi and Polymarket are pricing Elon Musk as near-certain to become the world's first trillionaire, with odds above 90% that he will cross the $1 trillion net worth milestone before 2027.
- Kalshi is moving to end a program that pays traders for generating volume, nearly a year before its scheduled expiration.
- Lobbying disclosures show that Kalshi has received $480,000 from a firm to advocate for federal protection of contracts like those offered on the platform.
- Large financial platforms like Robinhood and Webull now integrate popular prediction markets directly into their apps, allowing users to place six-figure bets.
- Prediction markets including Kalshi and Polymarket are facing mounting legal uncertainty as US federal and state regulators clash over their classification as financial exchanges or gambling operations.
What's still developing
- How to use ChatGPT & Claude to research stocks like a pro India's Promotion and Regulation of Online Gaming Rules went into force at the start of May, sweeping prediction markets in with sports books and other gambling operators under one broad category of "online money games."
- Earlier this month, multiple news outlets reported that President Trump’s teleprompter operator has been placing profitable bets on Kalshi regarding the content of Trump’s forthcoming speeches.
- By Luke Adams | at October 27, 2026 10:11 am The NBA has reached a deal to partner with prediction markets Polymarket and Kalshi, the league announced on Monday, per reports from Mike Vorkunov of The Athletic and David Purdum of ESPN.
- This Robinhood Markets US Web Visitor Privacy Statement (the “Privacy Statement”) outlines how Robinhood Markets and its affiliates (collectively, “we,” “our,” or “us”) process the information we collect through our website and other services or interactions.
- As operators gobbled up users nationwide, the market share rankings hardly changed, according to notional volume data compiled from public Dune dashboards and via independent Sportico research.
- In the latest sports business news, the NBA has announced a partnership with Kalshi and Polymarket, naming them the recommended prediction market exchanges in a multi-year deal.
- By: The Defiant Team • DeFi Trading runs through verified Kalshi accounts, while the wallet’s regional guide excludes Michigan, Nevada and Washington.
- The views expressed are those of the author and do not necessarily reflect the position of Markets.com.
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