Kalshi to Expand Crypto Initiatives According to Crypto Head
Kalshi is preparing to integrate its prediction market platform into major cryptocurrency exchanges and applications within the next year, according to John Wang, Head of Crypto, who spoke directly to The Block at the Token2049 conference in Singapore. Wang, who joined the company in August after eight years as a crypto trader and influencer, is leading efforts to expand Kalshi's on-chain presence and attract more crypto-native users.
Wang outlined the next phase of Kalshi's development as developing a broad ecosystem of new financial apps and trading instruments on top of its existing marketplaces. He cited the crypto community as instrumental to this endeavor, based on its experimental culture surrounding financial markets, as well as the emergence of new technologies.
Kalshi is propagating event data onto blockchains in real-time for developers, as it supports projects that create tools such as sophisticated dashboards, artificial intelligence agents, and arbitrage suites. The firm has recently partnered with Solana and Base to launch an ecosystem support program, which provides grants to both off-chain and on-chain developers. It will also engage in further partnerships with other blockchain networks.
Wang also highlighted the use cases of prediction markets as a door opener for crypto adoption, much like options products, but in a more stripped-down, easy-access product. Although the firm is spending a significant amount on on-chain development, Wang maintained that such projects are created as a complement to Kalshi's main business, not as a replacement.
Kalshi quietly launches custom NFL parlays
Building on its crypto-focused growth, Kalshi introduced its first customizable sports parlays on Sept. 29 without a public announcement. The feature allowed users to combine multiple pregame bets into a single wager for NFL matchups, similar to the best sports betting sites.
The customizable parlays only applied to single games, excluding multi-game combinations, and were available until shortly before kickoff on Monday Night Football. Options included moneyline, point spread, total points, and anytime touchdown scorer markets. Once selected, parlays were confirmed almost immediately.
The offering departed from Kalshi's typical peer-to-peer structure. Unlike its other trading markets, the parlay feature did not include an order book or the ability for users to set custom lines. Instead, Kalshi presented odds directly to bettors on a fixed basis, though details about how prices were determined remain unclear.
On the same day, CEO Tarek Mansour appeared at a Commodity Futures Trading Commission roundtable in Washington, D.C., to discuss regulatory approaches to prediction markets and digital assets. Alongside executives from Polymarket and Kraken, Mansour urged regulators to avoid overreach that could hinder US innovation and leave room for international competitors.
Despite receiving some regulatory flexibility from the CFTC, Kalshi continues to face legal challenges from states, most recently Massachusetts, and tribal groups seeking to assert their authority over sports-related prediction markets.
