Kalshi, a prediction market based in the United States, is preparing to introduce betting options for the price movements of two major cryptocurrencies, Bitcoin (BTC) and Ether (ETH). The platform will offer prediction contracts that allow clients to place bets on the price movements of Bitcoin and Ether. Currently, the “Crypto” section on Kalshi’s website allows clients to bet on three Bitcoin contracts, one of which predicts when Bitcoin will reach $100,000. The contracts are available for different timeframes, with the closest one predicting that Bitcoin will reach this value by March 28. The latest available contract expires on December 31, 2024. Kalshi also offers contracts for other predictions, such as the highest price Bitcoin will reach in 2024 and the daily BTC price. For Ether, clients can only bet on annual and daily price events. While the bets are related to cryptocurrency prices, Kalshi only accepts U.S. dollars for placing the bets. The majority of the bets on Kalshi’s platform are “yes” or “no” bets across various scenarios. According to industry reports, clients will be able to place their first bets on Bitcoin and Ether starting from March 18. Kalshi, founded in 2018, is a regulated financial exchange that offers event contracts for users to bet on future events in various fields, including the economy, politics, health, technology, and science. It operates as a designated contract market under the Commodity Futures Trading Commission. Bitcoin price predictions have gained popularity following its recent all-time high above $73,000 on March 13. Binance CEO Richard Teng predicts that Bitcoin will continue its rally and surpass $80,000 by the end of the year, citing the optimism surrounding the adoption of spot Bitcoin exchange-traded funds in the United States. Crypto.com CEO Kris Marszalek also predicts a significant surge in the total crypto market capitalization, reaching $7.5 trillion by 2025.
Kalshi, the US prediction market, to introduce betting options for Bitcoin and Ether.