Kalshi taps Solana to tokenize betting contracts: Report
Kalshi is reportedly enabling users to trade tokenized versions of its event contracts on the Solana blockchain.Summary
Predictions platform Kalshi has reportedly started allowing users to buy and sell tokenized versions of its event contracts on the Solana blockchain, according to a CNBC report. This move tokenizes bets on events like US elections and sports, making them tradable on-chain. John Wang, Kalshi's head of crypto, stated the goal is to access the billions of dollars in crypto liquidity and allow developers to build third-party front ends using Kalshi's liquidity. This tokenization may challenge competitors like Polymarket by offering users greater anonymity. DeFi protocols Jupiter and DFlow are expected to bridge Kalshi’s offchain orderbook to Solana’s liquidity. Kalshi has seen increased activity following a court ruling allowing political event contracts and recently achieved an estimated $11 billion valuation after a funding round led by Sequoia Capital and CapitalG.
(Source：Cointelegraph)