Kalshi is now providing tokenized variations of its event-contract wagers on Solana, the company told CNBC, marking its clearest bid but to draw crypto merchants who’ve gravitated to on-chain platforms like Polymarket.
The setup tokenizes Kalshi’s current occasion markets, spanning politics to macro information, and makes them tradable on Solana, based on the Monday report.
Tokenized contracts work the identical as Kalshi’s conventional merchandise, however on-chain buying and selling provides anonymity and aligns the change extra carefully with Polymarket’s mannequin, the report stated.
Tokenization is the method by which real-world property are transformed into blockchain-based tokens.
Support is already dwell, based on CNBC, with decentralized finance (DeFi) protocols DFlow and Jupiter connecting Kalshi’s off-chain order guide to Solana liquidity.
Kalshi’s head of crypto, John Wang, instructed CNBC the transfer is designed to faucet deeper swimming pools of capital as prediction-market exercise accelerates.
Tokenization provides Kalshi entry to “billions of dollars of liquidity,” lets builders construct third-party entrance ends, and helps keep aggressive pricing, Wang stated.
Founded in 2018, Kalshi turned the primary change to supply federally regulated occasion contracts tied to U.S. congressional races in 2024 after a protracted combat with the Commodity Futures Trading Commission (CFTC), the report famous.
The agency now runs about 3,500 markets and closed a $1 billion funding round final month that valued the corporate at $11 billion, based on a TechCrunch report.
As Polymarket presses into the U.S., CNBC famous Kalshi will want extra liquidity to maintain tempo, one thing crypto-native merchants could also be uniquely outfitted to supply.
Read extra: State of Crypto: Kalshi and Prediction Markets Face a Setback