Phantom Launches to U.S. users Kalshi prediction markets, with some state categories restricted
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Phantom Opens to users in the United States Kalshi prediction markets, but some states and market categories are temporarily restricted.
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Phantom Open to users in the United States Kalshi Prediction markets, with trading restricted in some state markets
PANews October 23 reported, citing The Block, that the crypto wallet Phantom began October 23 rolling out to users in the United States Kalshi prediction market services, allowing users to trade event contracts directly in the app, with availability to be expanded gradually over the following weeks. Users must complete Kalshi identity KYC verification and can use stablecoins Phantom Cash accounts to use stablecoins USD pegged to CASH to fund trades.Phantom General Counsel Kevin Jacobs said the company believes that the U.S. Commodity Futures Trading Commission (CFTC) has clear jurisdiction over such products and will comply with state restrictions during the litigation. Due to litigation in various states,Phantom will temporarily restrict sports, election, political, and other specific-category markets in some states.
Phantom began October 23 rolling out to users in the United States Kalshi prediction market services.
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Users can trade event contracts directly in the Phantom app, with availability to be expanded gradually over the following weeks.
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Users must complete Kalshi identity KYC verification and can use Phantom Cash accounts to use stablecoins USD pegged to CASH to fund trades.
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Phantom General Counsel Kevin Jacobs said the company believes that the U.S. Commodity Futures Trading Commission (CFTC) has clear jurisdiction over such products and will comply with state restrictions during the litigation.
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Due to litigation in various states,Phantom will temporarily restrict sports, election, political, and other specific-category markets in some states.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This means that some users in the United States can use Phantom the app's Kalshi event contract trading function, but must first complete identity verification. Due to litigation in various states, some regions and market categories are temporarily unavailable.
Why it matters to readers
Phantom adds in-app event contract trading scenarios, but service coverage and tradable categories are subject to state-level restrictions.
Event contracts are contracts traded based on the outcomes of events; using the service requires completing KYC identity verification and may be subject to restrictions in the user's state.
Risks and unknowns
The report did not specify which states are currently covered.
The actual scope and timing of the subsequent expansion remain unclear.
Litigation in various states may affect the availability of sports, election, political, and other market categories.
CASH The actual availability of the funding feature was not further explained in the original text.
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Related concepts
Event contracts
This term is not in the glossary yet. Browse related concepts in the glossary.
An application scenario involving trading or betting on the outcomes of future events, whose settlement rules may serve as an exploitation point for a design flaw attack.
