Phantom has expanded beyond traditional wallet functionality by integrating a new prediction trading hub directly into its app, following a partnership with Kalshi, a federally regulated event trading exchange.
The feature allows users to trade on the outcomes of real-world events, ranging from sports and politics to economic data, without leaving the Phantom interface.
The launch reflects a broader shift in crypto wallets toward becoming multi-purpose financial platforms rather than simple storage tools.
A new way to trade what’s trending is coming to Phantom.
Sports. Politics. Crypto. Culture. If it’s happening, you can probably predict it.
Introducing Phantom Prediction Markets, powered by @Kalshi 🟢 pic.twitter.com/eRIemwQxGM
— Phantom (@phantom) December 12, 2025
A Regulated Backbone Through Kalshi
The regulated status of the new feature is anchored in Phantom’s partnership with Kalshi, a New York-based company overseen by the U.S. Commodity Futures Trading Commission (CFTC). Rather than operating as an unregulated betting layer, Phantom users interact with markets that reference Kalshi’s officially regulated event contracts.
Within the wallet, users can purchase tokenized positions linked to those contracts using Solana-based assets, including SOL and the Solana stablecoin CASH. The entire process takes place inside Phantom, removing the need to open a separate account or transfer funds to an external platform.
How The Prediction Markets Work
Phantom’s prediction hub is designed to feel familiar to crypto users. Trading an outcome is structured similarly to swapping a token, lowering the barrier to entry and reducing friction compared to traditional event trading platforms.
Markets cover a broad range of topics, including political races, crypto-related milestones, sports outcomes, and cultural events. Each market updates in real time, displaying prices, odds, and scores as events unfold. Users receive notifications when markets resolve, allowing them to track outcomes without constant monitoring.
A social layer is also built into the experience. Each market includes a live community chat, giving users a space to discuss scenarios, share perspectives, and gauge sentiment as events develop.
Availability And Platform Strategy
The feature is being rolled out to eligible users, with availability varying by jurisdiction. It is not accessible in certain regions, including the U.K. Phantom positions the prediction hub as a complement to its existing tools, which already include token swaps and perpetual futures trading.
The move aligns Phantom with a wider trend across the wallet ecosystem. Other platforms are also expanding into prediction markets, with MetaMask announcing an integration with Polymarket in October 2025, signaling growing interest in embedding event-based trading directly into wallets.
Risks Remain Despite Regulation
While the underlying exchange is regulated, Phantom emphasizes that prediction markets carry inherent risk. Prices can be volatile, outcomes are binary, and users can lose the full amount allocated to an event. Phantom’s terms of use stress that users are responsible for understanding these risks and managing their exposure.
With this integration, Phantom is testing how far a crypto wallet can stretch into regulated financial territory, blending self-custody, trading, and real-world event markets into a single interface, while operating within an established regulatory framework.
