Phantom is opening Kalshi prediction markets to U.S. users, allowing them to trade event contracts in the app. According to ChainCatcher, the feature began rolling out on October 23 and will expand to more users over the coming weeks; users must complete Kalshi’s KYC process first.

Trades will use the CASH stablecoin in Phantom Cash accounts. Funds transferred to Kalshi are converted to fiat for settlement, while withdrawals and profits return to Phantom Cash. Phantom lists a fee of $0.02 per contract, plus a small network fee for transferring funds.

Phantom will restrict certain market categories in some states amid local regulatory disputes. Sports markets are temporarily unavailable in Michigan. Nevada restricts sports, elections, politics, and entertainment markets, while Washington imposes broader restrictions that also cover culture, technology, and geopolitics.

Phantom General Counsel Kevin Jacobs said the company believes the CFTC’s jurisdiction over these products is clear and will continue to comply with existing state restrictions.