The post Kalshi Adds USDC Deposits to Compete with Rival Polymarket in Presidential Betting Surge appeared on BitcoinEthereumNews.com.

In a strategic move to enhance its competitive edge in the burgeoning political prediction market, Kalshi, a U.S.-based prediction platform, has announced the support for USDC deposits. This development provides users with an alternative and efficient funding option for political betting, positioning Kalshi to better compete with the offshore platform Polymarket amid the heightened activity surrounding the 2024 presidential election cycle, according to Fortune Crypto.   Introduction to Kalshi and Polymarket Who is Kalshi? Kalshi is a regulated prediction market platform founded in 2018, offering users the ability to trade on the outcomes of real-world events, including political elections, economic indicators, and more. Recently gaining approval for U.S. political contracts following a significant legal challenge, Kalshi has positioned itself as a compliant and secure alternative for American users interested in event-based trading. Overview of Polymarket Polymarket, operating outside U.S. regulations, has emerged as a popular platform for political and event prediction markets. Known for its ease of use and broad market offerings, Polymarket has attracted substantial trading activity, especially during the 2024 election cycle. However, its offshore status means it operates without the stringent regulatory oversight that Kalshi adheres to in the United States.   Details of the USDC Deposit Integration What is USDC? USDC (USD Coin) is a stablecoin pegged to the U.S. dollar, providing a secure and efficient means of transferring value within the cryptocurrency ecosystem. Its stability and widespread acceptance make it an ideal choice for platforms looking to offer reliable and fast transaction options to their users. Kalshi’s Partnership with Zero Hash Kalshi has partnered with Zero Hash, a leading crypto firm specializing in digital asset settlement and custody solutions. This partnership enables Kalshi to integrate USDC deposits seamlessly, enhancing the platform’s speed and accessibility. Users can now deposit USDC directly into their Kalshi accounts, facilitating…

---

Filed under: News - @ October 30, 2024 1:19 pm