Kalshi announced a partnership with Coinbase Custody to safeguard all USDC circulating on its platform and turn event-contract settlement into a system with institutional standards. The agreement replaces Kalshi’s in-house custody and delegates deposits, fund movements, and payouts to the exchange’s custody division.
Kalshi received a valuation of roughly $10 billion after a $185 million funding round in June. Platforms like Polymarket and new competitors tied to publicly traded companies are driving a surge in new users. Prediction markets are expanding as clearer regulatory frameworks take shape.
Using USDC as the operating base and relying on Coinbase for custody aims to streamline settlement and provide a stable environment for traders who operate in real time on Fed decisions, election outcomes, or climate data. Kalshi intends to position this combination as the standard infrastructure for event-based contracts.
Source: https://news.kalshi.com/p/kalshi-partners-coinbase-custody-usdc
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