Phantom Wallet + Kalshi Prediction Markets: Regulatory Plumbing
Phantom began rolling out Kalshi prediction markets to US users under CFTC no-action relief, operating without a broker registration — a potentially precedent-setting move for non-custodial wallets.
What we know
An account on X flags that the integration is less about the markets themselves and more about the legal structure: Phantom is not a registered broker but is using CFTC no-action relief from March 2026 that allows non-custodial wallets to connect users to prediction markets. This could serve as a template for other DeFi wallets seeking to offer regulated financial products without full broker registration.
How the story developed
Phantom began rolling out Kalshi prediction markets to US users under CFTC no-action relief, operating without a broker registration — a potentially precedent-setting move for non-custodial wallets.
Polymarket fired its CMO following an internal probe into a fake trades scheme under CFTC scrutiny, while a Circle shareholder is suing Trump over World Liberty Financial's $500M UAE deal and $2B Binance transaction.
Polymarket has fired its CMO Matthew Modabber following an internal investigation. Separately, the Commodity Markets Council urged the CFTC to block Kalshi's perpetual oil futures contract and close offshore retail loopholes.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.