The event contracts provider, Kalshi, plans to integrate its U.S.-regulated prediction market platform
into every major cryptocurrency exchange and application within 12 months,
according to John Wang, the company's head of crypto.
Kalshi Eyes Crypto
Integration Across Major Exchanges
Wang outlined
the expansion strategy during an interview at the Token2049 conference in
Singapore, calling the initiative a potential tenfold growth driver
for the platform. The
23-year-old executive, who spent eight years as a crypto trader
before joining Kalshi
in August, said the company wants to build what he called "an ecosystem of
new financial primitives and trading front-ends" on top of
its existing infrastructure.
"The
crypto community is the definition of power users, people who live and
breathe new financial markets and frontier technology," Wang said during
an interview with The Block. "We're welcoming a huge developer
base who are excited about building tools for those power users."
The
push comes as Kalshi grabbed 66% of the prediction market share by
late September, up from 3.3% the previous year. That
growth put it ahead of Polymarket, a crypto-native competitor
that previously dominated the space. Most of Kalshi's recent volume
came from NFL-related event contracts in the United States.
Kalshi
collaborates not
only with cryptocurrency exchanges but also with retail brokers, including FOREX.com
and Webull.
Kalshi is officially ~70% of GLOBAL prediction market volume, despite only being live in ONE country.
A year ago today we were 2.4%... pic.twitter.com/uTPEQDJyAq
— John Wang (@j0hnwang) October 3, 2025
Blockchain Push Targets
Developer Tools
Kalshi's
onchain strategy centers on pushing event data to blockchains in real-time
for outside developers to use. The company announced partnerships with
Solana and Base last month, launching grant programs for builders working
on both onchain and offchain tools. Wang said more blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp
Read this Term
partnerships are in the works.
The
platform wants developers to create data dashboards, AI agents and what
Wang called "new venues for informational arbitrage."
He stressed that blockchain features would be optional additions rather
than replacements for existing functionality.
"I
think in 12 months I would have failed my job if we couldn't look the crypto
community in the eyes and be like, 'we genuinely made positive impact here, we
brought in new audiences into crypto,'" Wang told The Block.
The
platform gained significant publicity through its strong partnership with
Robinhood, which is heavily investing in the development of both
event contracts and stock
tokenization. Vlad Tenev, the company’s CEO and co-founder, sees these
innovations as the future of retail trading.
Related
stories: Robinhood's
Prediction Markets Cross 4 Billion Contracts All-Time, CEO Says
Prediction Markets as
Gateway Product
Wang framed
prediction markets as a simpler entry point into crypto derivatives,
arguing they offer more accessible packaging than traditional options
contracts. He noted that crypto options haven't gained much traction
despite frequent discussion in trading circles.
"I think
prediction markets are similar to [crypto] options that are packaged in
the most accessible form possible," Wang said. "So I think
prediction markets are like the Trojan Horse for [people] to enter crypto."
The
company also plans to expand its crypto-specific event
contracts significantly, though Wang didn't provide specific numbers
or timelines.
Wang said
Kalshi will keep tweaking its user interface to stand apart from
competitors like Polymarket. Different market categories need different
information flows and context, he explained, which means the platform's
design will reflect those variations.
Regulatory Win Opened Door
Wang
credited Kalshi's market share gains to three years of
regulatory groundwork in the United States. The company sued the
Commodity Futures Trading Commission in 2023 after the agency blocked it from
offering political election contracts. A district court ruled for
Kalshi, and
the CFTC dropped its appeal in May.
"[Kalshi]
played the long game and we were able to legalize right before the
election, we seized the opportunity and did the best we could,"
Wang said. "Prediction markets and event contracts are now being
held at the same level as normal derivatives and stocks - this is
genuinely like the new world's newest asset class."
Kalshi CEO
Tarek Mansour participated in a SEC-CFTC
CFTC
The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss
The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss
Read this Term roundtable discussion
earlier this week focused on regulatory oversight of prediction markets
and other emerging financial products.
However,
the company is also dealing
with lawsuits and regulatory controversies across several U.S. states.
Allegations that the platform operates as a form of gambling have intensified after
poker legend Daniel Negreanu was named its public ambassador.
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The event contracts provider, Kalshi, plans to integrate its U.S.-regulated prediction market platform
into every major cryptocurrency exchange and application within 12 months,
according to John Wang, the company's head of crypto.
Kalshi Eyes Crypto
Integration Across Major Exchanges
Wang outlined
the expansion strategy during an interview at the Token2049 conference in
Singapore, calling the initiative a potential tenfold growth driver
for the platform. The
23-year-old executive, who spent eight years as a crypto trader
before joining Kalshi
in August, said the company wants to build what he called "an ecosystem of
new financial primitives and trading front-ends" on top of
its existing infrastructure.
"The
crypto community is the definition of power users, people who live and
breathe new financial markets and frontier technology," Wang said during
an interview with The Block. "We're welcoming a huge developer
base who are excited about building tools for those power users."
The
push comes as Kalshi grabbed 66% of the prediction market share by
late September, up from 3.3% the previous year. That
growth put it ahead of Polymarket, a crypto-native competitor
that previously dominated the space. Most of Kalshi's recent volume
came from NFL-related event contracts in the United States.
Kalshi
collaborates not
only with cryptocurrency exchanges but also with retail brokers, including FOREX.com
and Webull.
Kalshi is officially ~70% of GLOBAL prediction market volume, despite only being live in ONE country.
A year ago today we were 2.4%... pic.twitter.com/uTPEQDJyAq
— John Wang (@j0hnwang) October 3, 2025
Blockchain Push Targets
Developer Tools
Kalshi's
onchain strategy centers on pushing event data to blockchains in real-time
for outside developers to use. The company announced partnerships with
Solana and Base last month, launching grant programs for builders working
on both onchain and offchain tools. Wang said more blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp
Read this Term
partnerships are in the works.
The
platform wants developers to create data dashboards, AI agents and what
Wang called "new venues for informational arbitrage."
He stressed that blockchain features would be optional additions rather
than replacements for existing functionality.
"I
think in 12 months I would have failed my job if we couldn't look the crypto
community in the eyes and be like, 'we genuinely made positive impact here, we
brought in new audiences into crypto,'" Wang told The Block.
The
platform gained significant publicity through its strong partnership with
Robinhood, which is heavily investing in the development of both
event contracts and stock
tokenization. Vlad Tenev, the company’s CEO and co-founder, sees these
innovations as the future of retail trading.
Related
stories: Robinhood's
Prediction Markets Cross 4 Billion Contracts All-Time, CEO Says
Prediction Markets as
Gateway Product
Wang framed
prediction markets as a simpler entry point into crypto derivatives,
arguing they offer more accessible packaging than traditional options
contracts. He noted that crypto options haven't gained much traction
despite frequent discussion in trading circles.
"I think
prediction markets are similar to [crypto] options that are packaged in
the most accessible form possible," Wang said. "So I think
prediction markets are like the Trojan Horse for [people] to enter crypto."
The
company also plans to expand its crypto-specific event
contracts significantly, though Wang didn't provide specific numbers
or timelines.
Wang said
Kalshi will keep tweaking its user interface to stand apart from
competitors like Polymarket. Different market categories need different
information flows and context, he explained, which means the platform's
design will reflect those variations.
Regulatory Win Opened Door
Wang
credited Kalshi's market share gains to three years of
regulatory groundwork in the United States. The company sued the
Commodity Futures Trading Commission in 2023 after the agency blocked it from
offering political election contracts. A district court ruled for
Kalshi, and
the CFTC dropped its appeal in May.
"[Kalshi]
played the long game and we were able to legalize right before the
election, we seized the opportunity and did the best we could,"
Wang said. "Prediction markets and event contracts are now being
held at the same level as normal derivatives and stocks - this is
genuinely like the new world's newest asset class."
Kalshi CEO
Tarek Mansour participated in a SEC-CFTC
CFTC
The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss
The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss
Read this Term roundtable discussion
earlier this week focused on regulatory oversight of prediction markets
and other emerging financial products.
However,
the company is also dealing
with lawsuits and regulatory controversies across several U.S. states.
Allegations that the platform operates as a form of gambling have intensified after
poker legend Daniel Negreanu was named its public ambassador.
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