Karshi, a Commodity Futures Trading Commission-regulated exchange, announced a partnership with stablecoin infrastructure platform Zerohash.
This partnership will allow 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.
According to a press release shared with crypto.news, Zero Hash’s “Account Funding” product provides near-instant funding, allowing Kalshi users to deposit funds 24/7, and during traditional banking hours. This will allow users to access transactions without any delay.
Zero Hash’s technology allows Kalshi users to fund their accounts in USDC, which is automatically converted to fiat currency for trading. This integration simplifies the process by eliminating the need for users to handle cryptocurrencies directly, allowing the platform to work seamlessly with fiat currencies while benefiting from the speed and efficiency of stablecoins.
In early October, Mr. Kalsi won a court ruling allowing him to list a predictive contract on which party will control parliament. The U.S. Court of Appeals affirmed the ruling on October 2, following Mr. Carsi’s lawsuit against the CFTC over the previous denial.
The Rise of Karshi as a Prediction Market
Founded with support from major investors including Sequoia and Charles Schwab, Calsi became the first CFTC-regulated exchange to offer event-based contracts in 2020. These contracts, known as “prediction markets,” allow users to buy stocks based on predicted outcomes. real world events.
Kalsi’s products also include political contracts, and available trading options include the upcoming US presidential election.
For those unfamiliar with prediction markets, platforms such as Kalshi and Polymarket are designed to allow individuals to speculate on the outcome of real-world events by buying and selling stocks associated with these predictions.
Similar to placing bets, investors can make profits based on their predictions of events such as elections or economic trends.
