US election betting platform Kalshi to add stablecoin deposits
The platform plans to introduce USD Coin (USDC) deposits ahead of the US presidential elections, enhancing its cryptocurrency offerings.
Kalshi, a prediction market platform, has cleared legal hurdles for electoral betting contracts in the US after a court victory over the Commodity Futures Trading Commission. With this win, the platform plans to introduce USD Coin (USDC) deposits just ahead of the US presidential elections, adding a major crypto feature for its users.
As the US election approaches, prediction markets are experiencing rapid growth. Kalshi aims to capture a larger share of this market but faces strong competition from Polymarket, which currently holds 99% of the market share and saw over $1 billion in election-related bets in September alone.
Kalshi is also up against new crypto-native platforms, though its US court approval gives it a potential edge. The platform hopes to attract more US users as prediction market betting volumes continue to soar.
