Kalshi now accepts Solana deposits, joining Bitcoin, USDC, and Worldcoin, enabling direct SOL wallet funding to boost liquidity.
Traders with SOL can now transfer tokens into prediction markets without converting them to stablecoins. As a result, the demand for on-chain assets will be increased as Solana balances are more actively transferred between wallets and Kalshi.
Is it possible for the US Predictions Market to extract Solana from its current state of stagnation?
Solana’s on-chain activity has been primarily focused on viral meme coins and high-speed DEX transactions over the past year.
For instance, meme coins comprised nearly 65% of Solana’s trading volume in May. At its highest point, the daily turnover of the DEX exceeded $45 billion. Nevertheless, integrating deposit rails into prediction platforms introduces a new utility.
Currently, users can wager SOL on various events, including weather forecasts, election results, and pop-culture milestones, such as the release date of GTA 6. This variant is responsible for the movement of tokens across a broader range of markets.
Solana’s market depth may be enhanced as funds trapped in specialized event contracts recirculate into the broader ecosystem.
Additionally, the seamless conversion of SOL deposits into US dollars for Kalshi transactions is guaranteed by the integration with ZeroHash.
This flow may appeal to crypto-native merchants prioritizing low fees and rapid settlement, as it reduces friction compared to conventional on-ramps.
This action could enhance Solana’s liquidity by capitalizing on Kalshi’s expanding user base.
In 2024, Kalshi experienced a $1.97 billion trading volume, increasing from $183 million the previous year. It currently provides services to users in more than 40 states in the United States and has recently implemented a mini-app for Worldcoin users.
It is crucial to note that Polymarket, Kalshi’s decentralized counterpart, currently employs Solana for on-chain trading outcomes.
Consumers frequently utilize multiple platforms in the predictions market to obtain more favorable odds or niche predictions. Therefore, the potential for a shared linkage between DeFi-native and regulated markets could be established by Solana’s support for Polymarket and Kalshi.
