US prediction market Kalshi now accepts SOL deposits
The US-based prediction market Kalshi has made SOL deposits possible. Customers can add funds to their Solana accounts in this way. This follows the addition of support for Bitcoin deposits.
Kalshi and Zero Hash have decided to collaborate in order to make the Solana deposits possible. In addition to managing the transaction process and changing the contributions into US dollars, the company is also in charge of guaranteeing security and regulatory compliance.
Polymarket announced on March 25 that users can deposit SOL into their wallets. This to some extent has influenced Kalshi, its biggest competitor. In a now-deleted podcast segment, Kalshi CEO admits enlisting influencers to dis Polymarket.
On the other hand, Kalshi charges 2% for each account withdrawal. They also charge a 1% trading fee that can’t be more than 10% of net profits and a 10% settlement fee on net wins. The fees differ for each payment method when you deposit or take money.
In addition, Polymarket works in a bit of a legal gray area. Its website doesn’t list any official rules. This has made it blocked in several countries. There are some risks when it comes to clear laws and market trickery. For instance, it was accused of fraud after a $7 million market was allegedly manipulated by UMA whales.
However, many users are interested in trends like Polymarket’s decentralized, blockchain-based website. This is what Kalshi has become interested in.
With Kalshi, users can also use regular money, and the CFTC fully regulates it. This makes it easy to use, especially for more traditional people.
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