Kalshi teams up with Zero Hash for USDC deposits

Kalshi, a Commodity Futures Trading Commission-regulated exchange, has announced a partnership with stablecoin infrastructure platform Zero Hash.

This collaboration enables Kalshi to offer users the ability to fund their accounts using USD Coin (USDC), which is designed to maintain a stable value pegged to the U.S. dollar.

Zero Hash’s “Account Funding” product provides near-instant funding, allowing Kalshi users to deposit funds 24/7 and access trading without delays from traditional banking hours, according to a press release shared with crypto.news.

Zero Hash’s technology allows Kalshi users to fund their accounts with USDC, which is automatically converted into fiat currency for trading. This integration simplifies the process, as users do not need to handle crypto directly, allowing the platform to operate seamlessly in fiat currency while still benefiting from the speed and efficiency of stablecoins.

Earlier in October, Kalshi won a court ruling allowing it to list prediction contracts on which political party will control Congress. The U.S. Court of Appeals granted this decision on Oct. 2, following Kalshi’s lawsuit against the CFTC over previous denials.

Kalshi’s rise as a prediction market

Kalshi, launched with backing from major investors like Sequoia and Charles Schwab, became the first CFTC-regulated exchange to offer event-based contracts in 2020. These contracts, known as “prediction markets,” allow users to buy shares based on predicted outcomes of real-world events.

Kalshi’s offerings include political contracts, with the upcoming U.S. presidential election among the available trading options.

For users unfamiliar with prediction markets, platforms like Kalshi and Polymarket are designed to let individuals speculate on the outcomes of real events by buying and selling shares tied to these predictions. 

Similar to placing bets, investors can earn profits based on their forecasts of events like elections or economic trends.