American prediction market Kalshi to take bets on Bitcoin and Ether
US-based prediction market Kalshi is preparing to launch bets on the price action of major cryptocurrencies Bitcoin (BTC) and Ether (ETH).
Kalshi is launching prediction contracts for its customers that will allow them to bet on the price movements of Bitcoin and Ether, according to its website.
As of this writing, Kalshi's “Crypto” section of the website allows customers to bet on at least three Bitcoin contracts, including a contract when it reaches $100,000.
The contract currently lists 10 available monthly markets, with the closest bet Bitcoin will arrive on March 28, 2024. The latest bet is on December 31, 2024.
Other contracts include predictions on how high Bitcoin will rise in 2024 and one on the BTC price per day. The annual price forecast offers five contracts ranging from $75,000 to $150,000. The daily forecast consists of 15 markets starting at $66,750 and ending at $70,250.
Clients of Kalshi Ether Predictions only offer to bet on yearly and daily price events.
While the bets are related to cryptocurrency prices, the Kalshi platform only accepts US dollars for bets. Like most cash bets, crypto bets are usually “yes” or “no” in different situations.
According to industry media, Kalshi customers can place their first bets on Bitcoin and Ether by March 18.
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Cointelegraph reached out to Kalshin for comment on the launch of betting on Bitcoin and Ether price movements, but had not yet received a response at the time of publication.
In the year Founded in 2018, Kalshi is a financial exchange that offers event contracts that allow users to bet on specific future events, including those related to the economy, politics, health, technology and science, among others. The platform is managed as a designated contract market under the Commodity Futures Trading Commission.
Bitcoin price predictions have been growing in popularity since the cryptocurrency posted a new all-time high above $73,000 on March 13.
Binance CEO Richard Teng predicted on March 17 that bitcoin would continue its record-breaking rally and rise above $80,000 by the end of the year. Amid the optimism surrounding the growth of spot bitcoin (BTC) exchanges in the United States, Teng expressed confidence in Bitcoin's success.
Crypto.com CEO Chris Marszalek predicts that the total crypto market capitalization will rise 177% to reach $7.5 trillion by 2025.
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