Richard

United

Bitcoin

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The United States-based prediction market Kalshi is preparing to launch bets on the price action of major cryptocurrencies Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) and Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>).
Kalshi is <a href="https://kalshi.com/events/crypto" target="_blank" rel="noopener nofollow">launching</a> prediction contracts for its clients, enabling bets on Bitcoin and Ether price movements, according to its website.
At the time of writing, Kalshi’s “Crypto” website section enables clients to bet on at least three Bitcoin contracts, including a contract on when Bitcoin will hit $100,000. 
The contract currently <a href="https://kalshi.com/markets/btcmax100/when-btc-will-hit-100k" target="_blank" rel="noopener nofollow">lists</a> 10 available monthly markets, with the closest one betting that Bitcoin will reach the value on March 28. The latest available bet is by Dec. 31, 2024.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/1e35b013-9a40-484b-a1e5-e1eeca08bab2.png" alt="" title="">
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 Kalshi's prediction markets on when Bitcoin will hit $100,000. Source: Kalshi
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</figure>
Other contracts include a prediction on how high Bitcoin will reach in 2024 and one on the daily BTC price. The annual price prediction <a href="https://kalshi.com/markets/btcmaxy/bitcoin-high" target="_blank" rel="noopener nofollow">offers</a> five contracts from $75,000 to $150,000. The daily prediction <a href="https://kalshi.com/markets/btcd/daily-bitcoin" target="_blank" rel="noopener nofollow">spans</a> 15 markets, starting from $66,750 and ending at $70,250.
Kalshi’s Ether predictions offer clients to bet only on the annual and daily price events.
While the bets are related to cryptocurrency prices, Kalshi’s platform will only accept U.S. dollars for placing the bets. As with most of Kalshi’s bets, the crypto bets will mostly be “yes” or “no” across different possible scenarios.
<a href="https://x.com/ItsBitcoinWorld/status/1769579637221257269?s=20" target="_blank" rel="noopener nofollow">According</a> to industry media, Kalshi clients will be able to place the first bets on Bitcoin and Ether as early as March 18.
Related: <a href="https://cointelegraph.com/news/bitcoin-entering-pre-halving-danger-zone-binance-crypto-ceos-bullish">Bitcoin to enter pre-halving ’danger zone,’ but crypto CEOs remain bullish</a>
Cointelegraph reached out to Kalshi for comments regarding the launch but had yet to receive a response at the time of publication.
Founded in 2018, Kalshi is a financial exchange offering event contracts, allowing users to bet on certain events in the future, including those related to the economy, politics, health, tech and science, and others. The platform is regulated as a designated contract market under the Commodity Futures Trading Commission.
Bitcoin price predictions have been growing increasingly popular since the cryptocurrency <a href="https://cointelegraph.com/news/bitcoin-price-new-73-6-k-all-time-high-etfs-eat">posted a new all-time high above $73,000</a> on March 13.
Binance CEO Richard Teng&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-03-17/binance-ceo-teng-sees-bitcoin-topping-80-000-on-etf-inflows" target="_blank" rel="noopener nofollow">predicted</a> on March 17 that Bitcoin would continue its record-breaking rally and rise above $80,000 by the end of the year. Teng expressed confidence in the success of Bitcoin amid the optimism around the massive adoption of spot Bitcoin exchange-traded funds in the United States.
Crypto.com CEO Kris Marszalek&nbsp;<a href="https://youtu.be/u3KArEgmqFw?si=klZnYmNBThqdNe4d&amp;t=9" target="_blank" rel="noopener nofollow">predicted</a>&nbsp;that the total crypto market capitalization will surge 177% to reach $7.5 trillion by 2025.
Magazine: <a href="https://cointelegraph.com/magazine/blockchain-transactions-per-second-tps-stupid-big-questions/">Is measuring blockchain transactions per second (TPS) stupid in 2024? Big Questions</a>

US prediction market Kalshi to take bets on Bitcoin and Ether

Cointelegraph

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