Kalshi, a CFTC-regulated prediction marketplace, is now accepting Bitcoin deposits, a strategic move aimed at attracting crypto-savvy users. Known for letting people bet on everything from political outcomes to film ratings, the platform has gained momentum among crypto traders — especially those speculating on Bitcoin’s price.

So far, Kalshi has handled $143 million in trading volume on hourly Bitcoin price contracts. As of April 9, the platform offers around 50 crypto-themed markets, including predictions on Bitcoin’s 2025 price highs and lows, and political storylines such as Donald Trump’s proposed National Bitcoin Reserve.

The company began accepting stablecoin deposits in October 2023 through USD Coin (USDC), but this marks its first foray into direct Bitcoin payments. All BTC deposits go through the Bitcoin network and are converted to USD via Kalshi’s partner, ZeroHash, which handles crypto infrastructure and off-ramping.

Launched in 2021, Kalshi rose to national attention after beating the CFTC in court, allowing it to offer political event contracts despite regulatory pushback. The agency had claimed that betting on elections could undermine democratic integrity. However, experts argue prediction markets often outperform polls in capturing public sentiment. Kalshi and other platforms correctly forecast Trump’s previous election win, even as traditional polls faltered.

In March, Kalshi also partnered with Robinhood to integrate prediction markets into the popular brokerage platform — sending Robinhood’s stock up by 8%. Meanwhile, competitor Polymarket, a decentralized prediction market, has processed over $3 billion in trades but remains inaccessible to U.S. users due to regulatory restrictions.

Currently, Kalshi traders estimate a 68% chance of a U.S. recession, showing just how seriously people take these markets as forecasting tools — not just gambling.