Kalshi teams up with Zero Hash for USDC deposits

Kalshi, an exchange regulated by the Commodity Futures Trading Commission, announced a partnership with stablecoin infrastructure platform Zero Hash.

This collaboration enables Kalshi to offer users the ability to fund their accounts using USD Coin (USDC), which is designed to maintain a stable value pegged to the US dollar.

Zero Hash’s “Account Funding” product provides near-instant funding, allowing Kalshi users to deposit funds 24/7 and access trading without delays during traditional banking hours, according to a press release shared with Crypto.news.

Zero Hash’s technology allows Kalshi users to fund their accounts with USDC, which is automatically converted to fiat currency for trading. This integration simplifies the process as users do not need to handle crypto directly, allowing the platform to operate seamlessly in fiat currency while leveraging the speed and efficiency of stablecoins.

In early October, Kalshi won a court ruling allowing him to list contracts predicting which political party would control Congress. The U.S. Court of Appeals agreed to that decision on October 2, following Kalshi’s lawsuit against the CFTC over previous denials.

The rise of Kalshi as a prediction market

Launched with backing from major investors like Sequoia and Charles Schwab, Kalshi became the first CFTC-regulated exchange to offer event-driven contracts in 2020. These contracts, known as “prediction markets,” allow users to buy shares based on predicted outcomes. real world events.

Kalshi’s proposals include political contracts, including the upcoming US presidential election, among the available trade options.

For users unfamiliar with prediction markets, platforms like Kalshi and Polymarket are designed to allow individuals to speculate on the outcomes of actual events by buying and selling stocks tied to these predictions.

Similar to betting, investors can make profits based on their predictions about events such as elections or economic trends.