Predictions market platform Kalshi will now accept cryptocurrency Solana as a deposit option, expanding its crypto payment options.
US-based Kalshi has now announced that users can use Solana (SOL) as a deposit option for their accounts, with instant access to funds starting right now. That removes any of the delays that depositing using traditional banking methods usually have, so that you can start trading and gaming within minutes, according to the Kalshi help center.
The platform also states that users will be able to access higher deposit limits of $500,000, making Solana and crypto deposits in general well-suited for larger transactions.
What is Kalshi?
Kalshi is a CFTC-regulated exchange and prediction market operator, which allows users to trade on real-world event outcomes, from politics to reality TV. In its infancy, it only supported USD Coin when it came to cryptocurrencies but the expansion to Solana will likely lead to an increase in crypto deposits, in line with trends in online gambling that’s already in evidence with sportsbook operators and iGaming markets, for example.
With Solana being the sixth-largest cryptocurrency when it comes to market capitalization, it’s a strong currency to lean into and could well attract more customers who prefer to trade in crypto.
It fits well with Kalshi’s niche, being the cryptocurrency behind some of the internet’s favorite memecoins, like President Donald Trump’s $TRUMP coin.
Kalshi offers odds on cultural and online phenomena, so there should be some overlap between Solana traders and Kalshi users. To get started depositing with crypto on Kalshi, select the “Crypto” option on the platform and then make a deposit of up to $500,000 by following the instructions provided by integrated service, Zero Hash. A supported cryptocurency will then be converted to cash, with USDC, RLUSD, BTC, WLD, XRP, and now SOL accepted so far.
Featured image: Midjourney
