Kalshi struck a deal with crypto wallet Phantom this week. The US-based prediction market operator will now let Phantom users trade contracts directly through the wallet app.
Phantom Prediction Markets launches with individual live chat for each market. Users can discuss trades in real-time while placing bets.
Meanwhile, Matchbook Betting Exchange confirmed it’ll launch a UK prediction market next month. The sports betting exchange said that the product goes live in January. Matchbook’s been running a UK sports exchange for 20 years.
The company’s also chasing a US license. Its partner RSBIX has an application pending with the CFTC for Designated Contract Market status.
Why Crypto and Exchanges See Opportunities
Prediction markets and cryptocurrency naturally fit together. Both attract tech-savvy users comfortable with peer-to-peer platforms.
Kalshi CEO Tarek Mansour isn’t hiding his ambitions. “Every important consumer internet application will enable prediction markets, powered by Kalshi,” he said about the Phantom deal.
That’s a bold claim. But growing consumer interest backs it up.
Matchbook sees prediction markets as a logical extension of its exchange model. A company spokesperson explained: “At its core, a ‘Prediction Market’ is a peer-to-peer exchange with an updated front-end.”
The exchange brings decades of experience matching buyers and sellers. Prediction markets work the same way, just with different underlying events.
What These Partnerships Actually Deliver
Phantom users can now access Kalshi’s full contract library without leaving their wallet. Each market includes social features built in.
However, Phantom stressed the service won’t work everywhere. Geographic restrictions apply based on local regulations.
Kalshi faces ongoing legal challenges in several US states. The available jurisdiction list might shrink in coming months as litigation continues.
Matchbook’s treating the UK as a test market before any US push. The spokesperson noted they focus on “providing the best market price to its customers.” That exchange expertise should translate to prediction markets.
If RSBIX gets CFTC approval, Matchbook could enter the US market. That’s still a big if.
How Competition Reshapes the Industry
Kalshi belongs to a five-member Coalition of Prediction Markets. The group’s defending the sector against regulatory pressure. A Kalshi spokesperson said: “Recent attacks against the industry aren’t about protecting consumers; they’re about protecting monopolies.”
Breaking into the US market won’t be easy for Matchbook. Kalshi’s already established with significant user numbers and brand recognition. RSBIX would need serious traction to compete.
The UK launch gives Matchbook a chance to refine its product first. British punters have deep experience with betting exchanges. But prediction markets offer something different.
January will show whether UK bettors embrace this format. Success there could fuel the US expansion plans. Failure might force a rethink.
