kalshi

Kalshi just let US traders borrow against their bitcoin to trade perpetuals — without selling it.

Bloomberg reported Wednesday: Kalshi Prime, the CFTC-registered futures commission merchant, teamed up with custodian BitGo so Prime clients can borrow against digital assets to fund margin on perpetual futures on its main exchange.

The setup is tri-party: Kalshi Katalyst (the lending affiliate) issues the loans, BitGo Bank & Trust holds the collateral. Eligible: bitcoin, ether, GENIUS-Act-compliant stablecoins; more custodians expected.

Why it matters: this is the onshore answer to offshore perps. CEO Jeff Bandman says it targets crypto-native traders and large holders who'd rather not liquidate spot — plus surprise demand from Latin American firms running on USD stablecoins. Kalshi has admitted a structural disadvantage here against Polymarket.

Honest note: this lands the week Utah sued Kalshi over sports betting — and regulated US venues still can't match offshore leverage. Regulated doesn't mean frictionless.

Does BTC-backed margin finally pull real perp volume onshore?

$BTC $ETH $82,948 (+0.2%), $ETH $2,444 (-0.1%) — no sharp reaction to the headline. NFA. DYOR.

#Bitcoin #CryptoNews #Perpetuals #Kalshi

Utah just opened a new front in the war over prediction markets.

Attorney General Derek Brown sued Kalshi on Tuesday, calling its event contracts illegal gambling — and in a first, going after the market makers too. Five Kalshi entities plus Susquehanna International Group and Susquehanna Government Products are named.

Utah estimates $30.6–61.2M in fees from 32,000+ accounts, and wants sports, election, politics, culture, and 'mentions' contracts blocked, court-approved geofencing, plus restitution.

Back in August, a federal judge ruled CFTC oversight doesn't preempt Utah's gambling laws; the Tenth Circuit denied Kalshi's stay in September. Kalshi appealed, saying no single state 'should have a veto' over a federally regulated exchange.

Why it matters: Kalshi is the CFTC-regulated venue where the first US crypto perps were approved and where Webull's Bitcoin perps will trade from November. If states can slice contracts off one injunction at a time, the 'national exchange' idea dies by fifty cuts.

Those figures are Utah's estimates, not findings. If Utah wins, which AG goes next — and what happens to crypto contracts on Kalshi? NFA. DYOR.

#CryptoNews #PredictionMarkets #Kalshi #Regulation

Are U.S. regulated exchanges going bad too? Kalshi announced that institutional clients can use Bitcoin as collateral to borrow money and open perpetual contracts.
(Source: Bloomberg, via crypto-economy.com, published today at 01:00 UTC)

This is all being done through proper channels.
Kalshi Prime is a CFTC-registered futures commission merchant. It has teamed up with custody giant BitGo to place clients’ BTC, ETH, and compliant stablecoins in tri-party custody at BitGo Bank & Trust.
Then Kalshi’s lending subsidiary, Kalshi Katalyst, extends lines of credit that go straight toward margin for perpetual contracts.

Kalshi Prime CEO Jeff Bandman told Bloomberg outright that the goal is to let traders avoid having to sell off their spot holdings just to free up liquidity.

This gives me a bad feeling.
Perpetual contracts have long been the specialty of offshore exchanges. Now regulated exchanges are bringing “borrow against collateral to leverage up” into the CFTC framework.
The official line is that this will “close the regulatory gap with offshore platforms like Polymarket.” In other words: a compliant façade, with gambling at its core.

The numbers are eye-catching too: BTCPERP was approved on May 29 this year, and crypto derivatives trading volume topped $1 billion in its first week. Last Tuesday, perpetual futures racked up nearly $1.1 billion in a single day.
In September, Kalshi’s clearing subsidiary also filed an application with the CFTC to add leverage to event contracts. Next up: crude oil and U.S. stock perpetuals are waiting in line.

It used to be retail traders taking wild risks on offshore exchanges. Now it’s institutions taking wild risks under Wall Street’s watchful eye.
Which kind of leverage makes for a more respectable liquidation: regulated or untamed?

$BTC
#Kalshi #Bitcoin

【Market Flash】You can now use leverage without selling your crypto: Kalshi Prime customers can borrow against BTC, ETH, and compliant stablecoins held in custody at BitGo, and use the funds directly as margin for perpetual futures. The loans are issued by its affiliate, Katalyst, while the collateral is held at BitGo Trust Bank. Meanwhile, Webull’s more than 6 million customers will also be able to trade perpetual futures through Kalshi starting in November. Regulated platforms are beginning to compete for offshore whales, but if crypto prices fall, both margin and collateral will come under pressure. Is this incremental capital or a risk amplifier for $BTC ? Comment 1 if bullish, 2 if bearish
$BTC $ETH $USDC
#比特币 #永续合约 #Kalshi
(Source: Bitcoin Magazine/Bloomberg)
⚠️Risk warning: The above is for sharing market information only and does not constitute investment advice. Investing involves risks; please exercise caution.

🎯Prediction markets are starting to play with leverage

📰Kalshi has teamed up with BitGo, letting customers borrow against Bitcoin to trade perpetual futures. The casino and the bank are coming through the same door.

💬Using crypto as margin to bet on events means leverage adds a second layer of risk. Regulation is real progress, but liquidations can happen even faster. I was stunned for a couple of seconds after reading this.

🏷️#预测市场 #Kalshi #BitGo #LeverageRisk

Prediction markets are facing another lawsuit: Utah Attorney General Derek Brown officially sued Kalshi on October 20, accusing it of illegally offering prediction-market gambling in the state since 2024, affecting more than 32,000 users, and seeking the return of $30 million–$60 million in profits. Kalshi responded that it is a CFTC-regulated federal derivatives exchange and that “no state has the right to veto it outright.” But in August, a court had already ruled that federal law does not override state gambling laws. The biggest risk for prediction markets has never been market movements—it’s licensing. #Kalshi #预测市场 #Regulation

【Market Brief】$61.2 million is the upper-bound estimate: Utah says Kalshi collected between $30.6 million and $61.2 million in fees from local accounts. On Tuesday, the state sued Kalshi and two Susquehanna companies, alleging they operated an unlicensed betting business under the guise of “event contracts.” Attorney General Brown is seeking the return of related proceeds, compensation for residents, and a ban on betting related to sports, elections, politics, culture, and other topics. Attorney Wallach called this the first state attorney general enforcement action targeting a prediction-market maker, taking the jurisdictional dispute between states and the federal government to a new level. Can prediction markets use the label “contracts” to sidestep state betting regulations? Share your thoughts in the comments.
$BTC $ETH $SOL
#预测市场 #Kalshi #U.S. regulation
(Source: The Block)
⚠️Risk warning: The above is shared for informational purposes only and does not constitute investment advice. Investing involves risk; exercise caution when entering the market.

【Taiwanese Court Takes Action! Coinbase and Kalshi Websites Blocked—Have Prediction Markets Crossed a Regulatory Red Line? 🔥】

🌟 加入X先生的粉丝群聊跟进行情

A new regulatory controversy has emerged in the crypto industry.

A Taiwanese court recently approved restricting local users’ access to the websites of Coinbase and prediction-market platform Kalshi, over suspicions that the platforms were involved in election betting.

Why were they blocked?

The key point is that Taiwanese law prohibits operating gambling activities for profit in connection with election or recall outcomes.

Put simply, prediction markets let users trade on whether an event will happen—for example, whether a particular candidate will be elected. But regulators may view trading that lets users bet on election outcomes as potentially violating local gambling laws.

Taiwan’s local elections are coming up on November 28, and regulators are also stepping up their scrutiny of election betting.

However, it’s important to note that restricting access to a website does not mean a court has found Coinbase or Kalshi guilty of breaking the law. The action currently concerns activities suspected of violating the law; allegations should not be treated as a final ruling.

So, what does this mean for the crypto industry?

Prediction markets are trying to turn real-world events into tradable contracts, but different countries define them differently.

Some consider them financial derivatives, while some regulators see them as closer to gambling.

📌 The key question is whether prediction markets should be overseen by financial regulators or restricted under gambling laws. This issue affects not only Coinbase and Kalshi, but could also determine how far the entire prediction-market industry can expand in the future.
#台湾 #Kalshi

Translate this hard-line statement from Kalshi CEO Mansour: “This isn’t a question of whether states or the federal government regulate us. It’s a question of whether prediction markets will still be allowed to operate in the U.S.” In other words: You can take me to court in all 50 states, one by one—I’ll just move, and you’ll be left regulating an empty office. The score so far: lawsuits in 20 states; the Third Circuit is on his side, the Ninth and Sixth are siding with the states, and Washington has issued a direct eviction order. Even the perpetual trading volume was exposed as fake, and he just shrugged: “Those were fixed orders from market makers.” Place your bets in the comments: A) The feds save him B) States’ rights crush him #Kalshi #PredictionMarkets

🚨 **KALSHI CEO DROPS A BIG STATEMENT! 👀**

Kalshi CEO says prediction markets could move offshore if U.S. courts side with state gambling regulators.

⚖️ The legal battle is heating up!

🔥 Will this reshape the future of prediction markets?

👀 Watch $HYPE and $ZEREBRO closely!

#Crypto #PredictionMarkets #Kalshi

The insider-trading controversy in prediction markets is heating up. Kalshi CEO Tarek Mansour responded: with betting records fully transparent, insider traders are like “committing a crime in broad daylight,” making them easier to catch.

Former Congressman George Santos became the first user to be permanently banned by Kalshi in August; another former White House staffer was fined more than $172,000 for profiting from bets placed after learning the content of a speech in advance. Prediction markets have grown to tens of billions of dollars since the 2024 election.

#预测市场 #Kalshi
(Source: TheBlock)
⚠️Risk warning: The above is shared for informational purposes about the market and does not constitute investment advice. Investing involves risks; exercise caution when entering the market.

Prediction markets face new scrutiny.

Kalshi CEO is pushing back against insider trading allegations, arguing that prediction markets actually make it easier to spot bad actors through increased transparency.

#PredictionMarkets #Kalshi ‎

【Market Flash】Kalshi has petitioned the full U.S. Court of Appeals for the Sixth Circuit for an en banc rehearing, challenging rulings by sports regulators in Ohio and Tennessee.

On September 25, a panel ruled that Kalshi had failed to prove its sports contracts were swaps, and therefore federal commodities law did not preempt state gambling laws. Kalshi’s attorneys argued that Congress had granted the CFTC “exclusive jurisdiction” over contracts traded on designated exchanges. Meanwhile, on October 9, the CFTC proposed including prediction-market event contracts in the federal definition of swaps and opened a 30-day public comment period.

#预测市场 #Kalshi #Regulation

(Source: X)

⚠️Risk warning: The above is shared for market information purposes only and does not constitute investment advice. Investing involves risk; please exercise caution.

The NFL, Gary Gensler, Chris Dodd and 39 states filed briefs largely backing the states in the prediction market case the Supreme Court may take up, per CoinDesk. Kalshi's response is due November 9.

If the Court does hear it, which outcome do you expect?

A) The CFTC keeps sole oversight of event contracts
B) States win the power to regulate sports contracts as gambling
C) A split ruling that treats sports differently from politics and weather

💬 Drop your pick below. $POL

#PredictionMarkets #Kalshi

Conference company NEXTPredict paid a $12,000 premium to hedge $3 million in risk for its conference through a prediction market.

The trade was executed through Kalshi, with Susquehanna as the market maker. The bet was on whether more than half of flights at JFK Airport would be canceled on October 21, the day before its October 22 conference. A co-founder said traditional event insurance only covers incidents inside the venue and may not pay out when widespread flight cancellations leave the event short-staffed. By contrast, prediction markets automatically determine whether a contract is triggered—a first for the industry.

#预测市场 #Kalshi #Risk Management
(Source: Decrypt)
⚠️Risk warning: The above is shared for informational purposes only and does not constitute investment advice. Investing involves risks; please exercise caution.

Prediction markets traded $8.56 billion in two days. That same weekend, someone bet $19 on who would become the White House’s new press secretary—and stood to win $1,896 👀

📊 First, the volume
• Kalshi + Polymarket set new single-day trading records two days in a row, with a combined $8.56 billion over those two days. Weekly volume also hit a record at $22.2 billion (Bloomberg, citing Dune data)
• NFL and U.S. college football drove most of the volume
• Looking at Kalshi alone, notional trading volume on Saturday was about $3.9 billion, with multi-event combo contracts accounting for over 70%

🔍 Now, the investigation
Kalshi is reviewing several trades: someone correctly bet on the new White House press secretary before the media announced the pick.
• At least 3 bets, with about $173 in total stake and an expected payout of around $9,600
• The earliest bet was $19. In the days before the news broke, the market gave this candidate only about a 1% chance
• In August, the CFTC had just settled with a former White House teleprompter operator over trading on Kalshi. Now a similar issue has surfaced again

A few thoughts:
1️⃣ Sports are driving the volume. With combo contracts making up over 70%, expect more debate over whether regulators should treat them as financial derivatives or sports betting
2️⃣ The biggest risk with political appointment contracts is someone knowing the answer in advance. A candidate with a 1% chance gets picked by a bet of a few dozen dollars—and the other side of that trade is everyone else in the market
3️⃣ For small-money players: you can still compete through research on sports and macro contracts. Best to steer clear of political appointment and news-driven contracts, where the information gap is against you

Do prediction markets seem more like information tools or betting games to you?

The above is solely my personal opinion and does not constitute investment advice. DYOR.

#预测市场 #Polymarket #Kalshi #CryptoMarkets

🏛️ THE U.S. SUPREME COURT FACES PRESSURE TO REGULATE PREDICTION MARKETS ⚖️🔮

A massive coalition is demanding legal clarity on Kalshi and event contracts as the CFTC defines its boundaries.

Key points in the Supreme Court case:
📜 Massive petition: Regulators, the NFL, and dozens of states are asking the Court to decide whether prediction contracts are derivatives (swaps).

🎲 The CFTC’s position: It excludes traditional gambling but insists on overseeing sports, political, and cultural events.

⏳ Next key date: Kalshi has until November 9, 2026, to submit its reply brief to the high court.

Do you think strict regulation of platforms like Kalshi will slow the rise of decentralized prediction markets like Polymarket?

💬👇 I’m reading your comments!

#CryptoNews #PredictionMarkets #Kalshi #CFTC #CryptoCommunity
$BTC
$BNB
$ETH

Kalshi’s platform is under the microscope after a tiny trio of wagers—totaling about $173—were placed on the identity of the next White House press secretary before any official announcement, according to The Block. The bets could each return roughly $9,600 if they hit.

Do you think regulators should tighten oversight on pre‑announcement political betting markets?

A) Yes, stricter rules are needed
B) No, current oversight is sufficient
C) Unsure, more data is required

💬 Drop your pick below.

#Kalshi #PoliticalBetting #Regulation