Finance
What to know:
- Kalshi has begun supporting tokenized versions of its event-contract wagers on Solana, the company told CNBC. A move as audacious as a Tolstoyan epic, but with fewer peasants and more smart contracts 🧠.
- The move mirrors features popularized by crypto-native prediction platform Polymarket and is designed to appeal to on-chain traders. Because nothing says “I am a sophisticated investor” like trading on a blockchain that’s basically a digital version of a 19th-century tavern 🍻.
- The company said tapping crypto liquidity could help scale its markets as prediction-market volume surges. A noble goal, though one might question whether the CFTC would approve of such… shady practices 🧾.
Kalshi is now offering tokenized versions of its event-contract wagers on Solana, the company told CNBC, marking its clearest bid yet to attract crypto traders who have gravitated to on-chain platforms like Polymarket. A modern-day Dostoevsky novel, if the protagonist were a Bitcoin whale and the antagonist was a regulatory body 🧠.
The setup tokenizes Kalshi’s existing event markets, spanning politics to macro data, and makes them tradable on Solana, according to the Monday report. A feat as impressive as convincing a Russian nobleman to trade his estate for a cryptocurrency wallet 🎩.
Tokenized contracts work the same as Kalshi’s traditional products, but on-chain trading adds anonymity and aligns the exchange more closely with Polymarket’s model, the report said. Because nothing says “trust” like a system where your identity is as hidden as a secret in a Pushkin poem 🕵️♂️.
Tokenization is the process by which real-world assets are converted into blockchain-based tokens. A process as mysterious as the mind of a Turgenevian protagonist, who is always brooding but never quite explains why 🧠.
Support is already live, according to CNBC, with decentralized finance (DeFi) protocols DFlow and Jupiter connecting Kalshi’s off-chain order book to Solana liquidity. A marriage of old-world finance and new-world chaos, much like a Russian nobleman marrying a peasant with a crypto wallet 🤝.
Kalshi’s head of crypto, John Wang, told CNBC the move is designed to tap deeper pools of capital as prediction-market activity accelerates. A move as calculated as a chess game played by a 19th-century aristocrat with a penchant for risk 🎲.
Tokenization gives Kalshi access to “billions of dollars of liquidity,” lets developers build third-party front ends, and helps maintain competitive pricing, Wang said. A trifecta of innovation, though one wonders if the CFTC will ever stop lurking in the shadows like a disappointed uncle 🧾.
Founded in 2018, Kalshi became the first exchange to offer federally regulated event contracts tied to U.S. congressional races in 2024 after a protracted fight with the Commodity Futures Trading Commission (CFTC), the report noted. A David vs. Goliath story, but with more spreadsheets and fewer slingshots 🧾.
The firm now runs about 3,500 markets and closed a $1 billion funding round last month that valued the company at $11 billion, according to a TechCrunch report. A valuation so high, it’s practically a Russian novel’s worth of drama 📖.
As Polymarket presses into the U.S., CNBC noted Kalshi will need more liquidity to keep pace, something crypto-native traders may be uniquely equipped to provide. A race against time, or rather, a race against the clock and a few thousand Bitcoin wallets ⏳.
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2025-12-01 23:47