Kalshi, a U.S.-based prediction market regulated by the CFTC, is set to introduce prediction contracts for major cryptocurrencies Bitcoin and Ether. These contracts will allow users to speculate on various price scenarios, including when Bitcoin will hit $100,000 and whether it will reach $150,000 in 2024.
Bitcoin Prediction Contracts:
Kalshi’s “Crypto” section on its website offers several Bitcoin prediction contracts. These include a contract on when Bitcoin will reach $100,000, with bets ranging from March 28, 2024, to December 31, 2024. Additionally, there are contracts predicting the highest price Bitcoin will reach in 2024 and daily price fluctuations, offering bets from $66,750 to $70,250.
Ether Prediction Contracts:
For Ether, Kalshi currently offers annual and daily price prediction contracts. Clients can bet on Ether’s annual price movement, with contracts ranging from $75,000 to $150,000. Daily price prediction contracts cover a range of prices, starting at $66,750 and ending at $70,250.
Betting Details:
While the bets are related to cryptocurrency prices, Kalshi’s platform will only accept U.S. dollars for placing bets. The bets will likely be in a “yes” or “no” format, depending on different scenarios.
Launch Date:
Kalshi clients are expected to be able to place their first bets on Bitcoin and Ether price movements starting from March 18, 2024.
Regulatory Compliance:
Founded in 2018, Kalshi operates as a financial exchange offering event contracts, regulated as a designated contract market under the Commodity Futures Trading Commission.
Market Context:
The launch of these prediction contracts comes amid growing interest in cryptocurrency price predictions, particularly after Bitcoin recently surpassed $73,000. Industry leaders like Binance CEO Richard Teng and Crypto.com CEO Kris Marszalek have expressed bullish sentiments, predicting further price increases and market capitalization growth in the coming years.
