{"id":126819,"date":"2025-04-09T18:17:00","date_gmt":"2025-04-09T18:17:00","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126819"},"modified":"2025-04-09T18:17:00","modified_gmt":"2025-04-09T18:17:00","slug":"kalshi-accepts-bitcoin-deposits-in-bid-to-woo-crypto-native-users","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126819","title":{"rendered":"Kalshi accepts Bitcoin deposits in bid to woo crypto-native users"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsPrediction marketplace Kalshi has started taking Bitcoin (BTC) deposits in a bid to onboard more crypto-native users.<br \/>\nThe company that lets users bet on events ranging from election outcomes to Rotten Tomatoes film ratings has seen a strong uptake among crypto traders, Kalshi told Cointelegraph on April 9. For instance, event contracts for betting on Bitcoin\u2019s hour-by-hour price changes have seen $143 million in trading volume to date, a spokesperson said.<br \/>\nKalshi is a derivatives exchange regulated by the US Commodity Futures Trading Commission (CFTC). As of April 9, it listed some 50 crypto-related event contracts, including markets for betting on coins\u2019 2025 highs and lows, as well as on headlines such as US President Donald Trump\u2019s proposed National Bitcoin Reserve.\u00a0<br \/>\nKalshi has doubled down on crypto event contract markets. Source: KalshiThe platform started accepting crypto payments in October when it enabled stablecoin USD Coin (USDC) deposits.\u00a0<br \/>\nKalshi relies on ZeroHash \u2014 a crypto payments infrastructure provider \u2014 for off-ramping BTC and USDC and converting the deposits to US dollars. The exchange accepts BTC deposits only from the Bitcoin network.<br \/>\n\u00a0<br \/>\nMost Kalshi traders no longer expect core tokens to earn positive returns this year. Source: KalshiRelated: Kalshi traders place the odds of US recession in 2025 at over 61%<br \/>\nMore accurate than polls<br \/>\nLaunched in 2021, Kalshi rose to prominence ahead of the US\u2019s November elections.\u00a0<br \/>\nIt became a top venue for trading on 2024 political events after winning a lawsuit against the CFTC, which tried to block Kalshi from listing contracts tied to elections.\u00a0<br \/>\nThe regulator argued that political prediction markets threaten the integrity of elections, but industry analysts say they often capture public sentiment more accurately than polls.\u00a0<br \/>\nFor instance, prediction markets, including Kalshi, accurately predicted Trump\u2019s presidential election win even as polls indicated a tossup.<br \/>\n\u201cEvent contract markets are a valuable public good for which there is no evidence of significant manipulation or widespread use for any nefarious purposes that the Commission alleges,\u201d Harry Crane, a statistics professor at Rutgers University, said in an August comment letter filed with the CFTC.<br \/>\nAs of April 9, Kalshi traders peg the odds of the US entering a recession at 68%, according to its website.<br \/>\nIn March, Kalshi partnered with Robinhood to bring prediction markets to the popular online brokerage platform. Robinhood\u2019s stock rose some 8% on the news.\u00a0<br \/>\nKalshi competes with Polymarket, a Web3-based prediction platform.\u00a0Polymarket processed more than $3 billion in trading volumes tied to the US presidential election despite being off-limits for US traders.<br \/>\nMagazine:\u00a0Bitcoin heading to $70K soon? Crypto baller funds SpaceX flight: Hodler\u2019s Digest, March 30 \u2013 April 5<a href=\"https:\/\/cointelegraph.com\/news\/kalshi-starts-taking-bitcoin-deposits-bid-crypto-natives?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsPrediction marketplace Kalshi has started taking Bitcoin (BTC) deposits in a bid to onboard more crypto-native users. The company that lets users bet on events ranging from election&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126819"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126819"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126819\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126819"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}