As an experienced crypto investor with a knack for political prediction markets and a keen eye for technological advancements, I find the recent collaboration between Kalshi and Zero Hash to be a game-changer. Having navigated the complexities of traditional banking hours and the slow pace of fiat transactions, the prospect of near-instant funding through USD Coin (USDC) is music to my ears.
Through a recent announcement, Kalshi – a trading platform overseen by the Commodity Futures Trading Commission – has entered into a partnership with Zero Hash, a company specializing in stablecoin infrastructure.
As a researcher involved in this partnership, I can express that this collaboration empowers us to extend the option for our users to deposit funds using USD Coin (USDC). Notably, USDC is engineered to preserve a consistent value tied to the U.S. dollar, ensuring a stable investment environment for our users.
zeroHash’s “Account Funding” service enables users of Kalshi to quickly deposit funds at any time, providing seamless access to trading around the clock, as stated in a press release obtained by crypto.news. This means that users can deposit funds outside of traditional banking hours and trade without interruptions due to bank delays.
With Zero Hash’s technology, Kalshi users can deposit USDC into their accounts, which is then instantly transformed into traditional currency for trading purposes. This integration streamlines the process, as users no longer have to deal directly with cryptocurrencies. Consequently, the platform operates effortlessly using conventional money, while still enjoying the speed and practicality offered by stablecoins.
Back in October, Kalshi secured a court victory permitting them to offer contractual predictions concerning which party would hold control over Congress. This favorable ruling was issued by the U.S. Court of Appeals on October 2nd, following Kalshi’s lawsuit against the Commodity Futures Trading Commission (CFTC) due to previous rejections.
Kalshi’s rise as a prediction market
In 2020, Kalshi, which was supported by significant investments from companies like Sequoia and Charles Schwab, made history by becoming the first exchange regulated by the Commodity Futures Trading Commission (CFTC) to offer event-based contracts. These unique contracts, often referred to as “prediction markets,” enable users to purchase shares depending on their predictions about the outcomes of real-world events.
Kalshi provides a variety of contracts, such as those related to politics, with the forthcoming U.S. presidential election being one of the tradeable events on their platform.
To put it simply, for those who aren’t familiar with prediction markets, services such as Kalshi and Polymarket allow people to make educated guesses about the results of actual occurrences by purchasing and trading shares related to these forecasts. In essence, they provide a platform where you can bet on the likelihood of various events happening.
Just as people wager on the outcome of games or competitions, investors can make money by predicting the results of events such as elections or economic movements.
Read More
- 15 Charged for converting Drug Cartels’ Cash into Cryptocurrency in U.S.
- Paul Atkins to Replace Gary Gensler as Next SEC Chair?
- PYTH PREDICTION. PYTH cryptocurrency
- Ben Affleck And Matt Damon Are Back To Work Together, And An Insider Weighed In On Their Longtime Connection
- Taylor Swift Calls Eras Tour “Most Challenging Thing I’ve Ever Done” at Final Show
- Suriname presidential candidate eyes on Bitcoin as currency
- Apple Lands Anya Taylor-Joy Led Drama ‘Lucky,’ Based on Bestseller
- TROTOAR Gallery Bridges Local and Global Art with ‘That’s What’s Up!’
- ‘Brides’ Finds a Distributor in Neon for Latest New Vampire Horror Movie
- OREO Unveils Six New Products for 2025
2024-10-29 17:20