Prediction platform Kalshi has started allowing users to trade digital versions of its event contracts on the Solana
According to a report by CNBC on December 1, the change brings Kalshi’s event-based markets onto a public blockchain.
These contracts are tokenized, which means users can buy and sell them directly on Solana rather than only within Kalshi’s system.
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John Wang, Kalshi’s head of crypto, told CNBC:
There are a lot of power users in crypto. This is about tapping into the billions of dollars of liquidity that crypto has, and then also enabling developers to build third-party front ends that utilize Kalshi’s liquidity.
By linking its contracts to a blockchain, Kalshi hopes to attract more crypto users and make its markets easier to access.
The decision may also create new competition for other prediction platforms such as Polymarket. Tokenized contracts can allow users to trade with more privacy while using decentralized networks.
The report added that DeFi platforms Jupiter and DFlow will connect Kalshi’s offchain orderbook with Solana’s trading system to provide smoother access to liquidity.
Kalshi’s growth in 2024 followed a court decision that allowed it to offer markets on political outcomes before a US election.
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