Kalsi, the only regulated prediction market platform in the US, is moving to grab a slice of crypto trading as the digital currency rebounds from a two-year slump.
Let's be clear: these bets are about Cryptocurrency, they are placed in As with all other markets in Karshi, USD. Traders on the platform are betting on questions such as: How many interest rate cuts? This year, the Federal Reserve how many inches of snow will fall It will fall in New York in March, and who will win the oscar Best screenplay award.
Kalsi's entry into cryptocurrencies comes at the apparent dawn of a bull market for digital assets, with prices soaring on the launch of a Bitcoin exchange-traded fund and other factors.of CoinDesk 20 Index The leading digital asset is up nearly 50% this year.
The move coincides with a resurgence of investor interest in prediction markets, which for decades were relegated to the realm of niche activity and academic hobbyism. In December, researchers at Bitwise Investments predicted that “[m]By 2024, more than $100 million in ore will be bet on prediction markets that will emerge as the new “killer app” for cryptocurrencies. Former US President Donald Trump regularly posts screenshots of the odds in his favor of taking back the White House on the cryptocurrency polymarket. Based prediction market.
Proponents argue that prediction markets have a nobler purpose than gambling: By requiring participants to put their money where their mouth is, the debate continues, they reveal what people really believeprovides a fix Erroneous polls And cruel critics.
Prediction markets are typically structured as “yes” or “no” questions about verifiable outcomes within a set time period. For example, Karshi's “Will the US ban TikTok this year?“On the market, 'yes' stocks traded at 25 cents on Sunday, indicating the market sees a 25% chance of a ban by Dec. 31, and 'no' stocks at 78 cents. A transaction was made. If the prediction is correct, each share pays $1. Turns out to be right and bupkissed if wrong.
By letting customers bet on cryptocurrencies, Kalsi is following in the footsteps of rival prediction market site Polymarket, which listed about 40 markets for crypto-related outcomes as of Sunday.
Polymarket is prohibited from doing business in the United States pursuant to a settlement with the Commodity Futures Trading Commission. This leaves CFTC-licensed Kalsi with room to take trades from U.S. traders who want to speculate on crypto price movements (or hedge positions) without buying or selling cryptocurrencies.
The agency's ban is a double-edged sword.Karshi is Fight the CFTC in court Right to list markets asking which political party controls each house of the US Congress.
PredictIt, a popular (dollar-denominated) election betting site, operates in the United States with a no-action letter, or special exemption, from the CFTC that restricts the platform's growth and activities. It also filed suit against the CFTC following orders from regulators. shutdown.
