Kalshi, a US prediction market regulated by the CFTC, will introduce prediction contracts for major cryptocurrencies Bitcoin and Ethereum. These contracts allow users to speculate on various price scenarios, including when Bitcoin will reach $100,000 and whether it will reach $150,000 in 2024.
Bitcoin prediction contract:
The “Cryptocurrencies” section of the Kalshi website offers several Bitcoin prediction contracts. This includes a contract for when Bitcoin will reach $100,000 with a betting range from March 28, 2024 to December 31, 2024. There is also a contract predicting the highest price Bitcoin will reach in 2024 and the daily price movement, with bets ranging from $66,750 to $70,250.
Ethereum Prediction Contract:
For Ether, Kalshi currently offers annual and daily price prediction contracts. Customers can bet on Ether’s annual price movements through contracts ranging from $75,000 to $150,000. Daily Price Prediction Contracts cover a range of prices from $66,750 to $70,250.
Betting Details:
Although bets are tied to cryptocurrency prices, the Kalshi platform only accepts US dollars for betting. Bets can be made in a “yes” or “no” format depending on various scenarios.
Release date:
Kalshi customers are expected to be able to place their first bets on Bitcoin and Ethereum price movements starting March 18, 2024.
Compliance:
Founded in 2018, Kalshi operates as a financial exchange offering event contracts, regulated by the Commodity Futures Trading Commission as a designated contract market.
Market situation:
The launch of these prediction contracts comes amid growing interest in cryptocurrency price predictions, especially after the price of Bitcoin recently surpassed $73,000. Industry leaders such as Binance CEO Richard Teng and Crypto.com CEO Kris Marszalek have expressed optimism, predicting further price increases and market capitalization growth in the coming years.