The United States prediction platform Kalshi now accepts deposits of Solana (SOL), after accepting Bitcoin, Worldcoin, and USDC. This move integrates SOL into the prediction markets regulated by the United States, expanding its utility beyond DeFi and memecoins. This development could improve the liquidity of SOL and its adoption among a wider user base.
Kalshi opened Solana deposits today, allowing users to fund their accounts directly from SOL wallets. The altcoin joins Bitcoin, USDC, and Worldcoin in Kalshi's crypto offering. The integration of Solana could potentially deepen liquidity on both sides. Traders holding SOL can now channel tokens into prediction markets without first converting to stablecoins. Consequently, Solana balances will circulate more actively between wallets and Kalshi, increasing on-chain demand. Over the past year, Solana's on-chain activity has largely focused on high-speed DEX trading and viral memecoins. For example, memecoins accounted for nearly 65% of Solana's trading volume in May. At its peak, daily DEX volume exceeded $45 billion.
However, deposit channels on prediction platforms add novel utility. Now, users can stake SOL against weather forecasts, electoral outcomes, or even pop culture milestones like the release date of GTA 6.
This variety drives the movement of tokens across a broader spectrum of markets. As a result, the market depth of Solana may improve, as funds locked in specific event contracts circulate back into the wider ecosystem.
The integration with Zero Hash ensures that SOL deposits are seamlessly converted to dollars for Kalshi operations. This could attract crypto-native traders who value quick settlement and low fees.
This move could help improve the liquidity of Solana by leveraging Kalshi's growing user base. In 2024, Kalshi saw a trading volume of $1.97 billion, compared to $183 million the previous year.
In the prediction market, users often access multiple platforms for better odds or specific predictions. Therefore, Solana's support on Polymarket and Kalshi could create a shared bridge between the native DeFi markets and the regulated ones.
