Web3 wallet Phantom has officially introduced Kalshi prediction market contract trading for users in the United States. Trading access is available via a dedicated “Predict” tab on the Phantom mobile app for eligible users.
The rollout of this feature introduces specific per-contract transaction fees and a dedicated deposit mechanism required before market orders can be executed.
Transaction Fee Details and Balance Deposit Mechanism
Each contract purchase incurs a combined fee of $0.02 per contract. That fee is split equally into two components: a $0.01 cut for the Phantom platform and $0.01 directed as a Kalshi exchange fee. In addition to the fixed per-contract rate, users are still responsible for blockchain network fees, which vary depending on transaction traffic congestion when orders are processed.
To fund prediction contract purchases, users can choose between two deposit methods to Kalshi. The first option uses a cash balance, while the second leverages Solana blockchain-based tokens. All assets must first be deposited into Kalshi before trade orders can be executed within the system.
Funds deposited to Kalshi via Phantom’s interface remain separate. These deposited funds are not automatically reflected in the standalone Kalshi app.
CFTC Relief Letter and Identity Verification Procedures
The integration is backed by a conditional no-action position letter, numbered 26-09. Issued by the CFTC Market Participants Division on March 17, the document exempts Phantom from having to register as an introducing broker.
The regulatory relief letter comes with two strict operational conditions. Phantom is required to never hold customer funds and is barred from routing market orders submitted by users.
Before initiating trades in the prediction market tab, users must complete Kalshi’s standard identity verification (KYC) process. The check requires US residents to provide their Social Security number (SSN) and complete a selfie verification via the Socure system before trading privileges are granted.
For US wallet holders looking to use the tab, seamless access to the prediction exchange remains balanced by mandatory identity verification and account balance rules separate from the main Kalshi app.
Reported by crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
