Kalshi is now providing tokenized variations of its event-contract wagers on Solana, the corporate advised CNBC, marking its clearest bid but to draw crypto merchants who’ve gravitated to on-chain platforms like Polymarket.
The setup tokenizes Kalshi’s present occasion markets, spanning politics to macro information, and makes them tradable on Solana, in line with the Monday report.
Tokenized contracts work the identical as Kalshi’s conventional merchandise, however on-chain buying and selling provides anonymity and aligns the trade extra intently with Polymarket’s mannequin, the report mentioned.
Tokenization is the method by which real-world belongings are transformed into blockchain-based tokens.
Help is already stay, in line with CNBC, with decentralized finance (DeFi) protocols DFlow and Jupiter connecting Kalshi’s off-chain order ebook to Solana liquidity.
Kalshi’s head of crypto, John Wang, advised CNBC the transfer is designed to faucet deeper swimming pools of capital as prediction-market exercise accelerates.
Tokenization offers Kalshi entry to “billions of {dollars} of liquidity,” lets builders construct third-party entrance ends, and helps preserve aggressive pricing, Wang mentioned.
Based in 2018, Kalshi turned the primary trade to supply federally regulated occasion contracts tied to U.S. congressional races in 2024 after a protracted battle with the Commodity Futures Buying and selling Fee (CFTC), the report famous.
The agency now runs about 3,500 markets and closed a $1 billion funding spherical final month that valued the corporate at $11 billion, in line with 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.
Learn extra: State of Crypto: Kalshi and Prediction Markets Face a Setback