As their popularity grows in the US, the predictions market vertical begins to look an ever more intriguing prospect for companies working in adjacent sectors.
Prediction markets and cryptocurrency, for instance, have always seemed natural bedfellows, and Kalshi's new arrangement with crypto e-wallet, Phantom, solidifies that.
Users of Phantom's financial product will now be able to trade Kalshi contracts directly on the platform with Phantom Prediction Markets.
Each market will also have its own live chat, leaning into the social side of trading.
To announce the deal, Tarek Mansour, Kalshi CEO, made the bold claim that: "Every important consumer internet application will enable prediction markets, powered by Kalshi."
Phantom has now done that, although the firm has stressed that prediction markets on Phantom are not going to be available in all jurisdictions.
Indeed, as litigation continues in various states for Kalshi, the list of states in which the practice is active may start to diminish over coming months.
However, uncertainty over the long-term legal and regulatory viability of prediction markets has failed to dull interest from consumers and industry.
Even in the UK there is movement, with sports betting exchange Matchbook confirming to Global Gaming Insider its intention to launch a prediction market in January.
It's not clear how impactful such a product would be in the UK with its extensive history of more conventional sports betting, but reportedly the British market is being seen as something of a proving ground before a mooted US entry.
A spokesperson justified the decision, pointing to the similarities between betting exchanges and prediction markets, saying: "Matchbook has two decades of experience of operating a sports event exchange in the UK market, with a strong focus on providing the best market price to its customers. At its core, a 'Prediction Market' is a peer-to-peer exchange with an updated front-end."
Matchbook's US partner is RSBIX, which has a pending application to the CFTC for Designated Contract Market status.
If that is eventually approved, the next challenge will be trying to achieve the popularity necessary to compete with the likes of Kalshi - a tall order.
Kalshi is part of the five-member Coalition of Prediction Markets and a spokesperson for the company told Global Gaming Insider: "Recent attacks against the industry aren't about protecting consumers; they're about protecting monopolies"
