Originally published on: November 07, 2024
Kalshi, a prediction marketplace, is expanding its offerings to include more markets for betting on US political events following the recent presidential election. These new contracts cover a wide range of outcomes related to President Trump’s administration and possible impeachment scenarios. The platform has gained popularity in the wake of the election, with betting volumes for the presidential race reaching nearly $4 billion.
While platforms like Polymarket have dominated the presidential betting scene, Kalshi has quickly gained traction by introducing political event contracts and accepting deposits in USD Coin. This move has attracted both traditional and crypto-native users to the platform. Kalshi’s success in challenging regulatory barriers has paved the way for other platforms to enter the market as well.
Despite regulatory challenges, Kalshi has remained a frontrunner in political prediction markets, offering bets on elections outside the US as well. The platform’s accurate predictions, such as giving favorable odds to a Trump win, have showcased its ability to capture public sentiment effectively.
With its innovative approach to political betting and commitment to user engagement, Kalshi is redefining the landscape of prediction markets in the US and beyond. Subscribe to our Crypto Biz newsletter for more updates on blockchain trends and financial opportunities in the crypto market.
