Kalshi accepts Bitcoin deposits in bid to woo crypto-native users
Kalshi, a predictions marketplace, has begun accepting Bitcoin deposits to attract more crypto-native users. The platform, which allows users to bet on various events including election outcomes, reported significant interest from crypto traders, particularly in contracts focusing on Bitcoin's price fluctuations. Since its inception, Kalshi has introduced about 50 crypto-related event contracts and partnered with ZeroHash for processing Bitcoin and USDC deposits into US dollars. Previously, the platform had launched USDC deposits in October. Following a legal victory over the CFTC, which sought to prohibit political contracts, Kalshi has solidified its position as a major venue for political event trading. The marketplace's early success includes accurately predicting Trump's election despite polling uncertainties. Additionally, Kalshi entered a partnership with Robinhood, integrating prediction markets into their platform, thereby positioning itself against competitors like Polymarket. As of now, a notable percentage of Kalshi traders express skepticism regarding the positive performance of core tokens this year.
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