Kalshi, a prediction marketplace, has recently announced that it will now accept Bitcoin deposits to attract more crypto-native users. The company, which allows users to wager on various events like election outcomes and movie ratings, has reported a significant increase in interest from crypto traders. For example, contracts related to betting on Bitcoin’s hourly price fluctuations have generated a trading volume of $143 million so far. Kalshi is a derivatives exchange that falls under the regulatory oversight of the US Commodity Futures Trading Commission (CFTC) and currently offers around 50 crypto-related event contracts. These contracts cover a wide range of topics, including predictions on the highs and lows of various cryptocurrencies by 2025. The platform began accepting cryptocurrency payments last October when it started allowing deposits in stablecoin USD Coin (USDC). Kalshi has partnered with ZeroHash, a crypto payments infrastructure provider, to facilitate the conversion of Bitcoin and USDC deposits into US dollars. The exchange exclusively accepts BTC deposits from the Bitcoin network. Additionally, Kalshi has gained popularity for its accuracy in predicting various events, surpassing traditional polls. The company correctly forecasted outcomes like Trump’s presidential election victory, demonstrating the platform’s reliability. Kalshi traders currently estimate a 68% chance of the US entering a recession, according to the latest data available. In a strategic move, Kalshi has also collaborated with Robinhood to introduce prediction markets on the brokerage platform. This decision led to an 8% increase in Robinhood’s stock value. Kalshi faces competition from Polymarket, another prediction platform that handled over $3 billion in trading volumes related to the US presidential election. The growing popularity of prediction markets like Kalshi reflects the increasing interest in crypto-based trading platforms among users in India and worldwide.