Phantom钱包向美国用户开放Kalshi预测市场：钱包内直接交易事件合约，每份合约收费2美分
加密钱包 Phantom 10月23日开始向美国用户分阶段开放预测市场功能，用户不必离开钱包应用，就能交易受美国商品期货交易委员会（CFTC）监管的交易所 Kalshi 的事件合约，题材涵盖政治、体育、经济与文化等领域。Phantom 表示，开放范围将在未来几周内逐步扩大。据报道，Phantom 的用户规模约2,000万。
美国版的接入方式与该公司2025年12月先行推出的版本不同：美国用户必须在应用内注册或关联一个 Kalshi 账户，并完成身份核验（KYC），包括提供美国手机号与政府签发的身份证件，部分用户还需通过 Socure 核验。按照 Phantom 总法律顾问 Kevin Jacobs 的说明，Kalshi 负责审批并持有用户的交易账户、执行用户通过 Phantom 提交的交易；Phantom 本身不向 CFTC 注册，只充当被动的软件界面，客户资产托管在 Kalshi 而非钱包内。
这一结构依托 CFTC 工作人员今年3月发出的第26-09号不行动函：该函同意 Phantom 无需注册为介绍经纪商即可提供这一界面服务，但附带10项条件，包括用户须成为交易所的直接会员、且能绕过 Phantom 直接访问交易所；今年9月，CFTC 又把同类宽免扩展到条件相当的其他软件提供商。Jacobs 表示，只要公司与这类产品的互动符合其不行动立场，公司对开展这项业务有信心、也感到安心，并认为 CFTC 对这类产品的管辖权是明确的。
交易以 Phantom Cash 账户中的美元稳定币 CASH 入金，资金转入 Kalshi 后兑换为法币结算；卖出或获胜的款项再自动返回 Phantom Cash。每份合约的预测费用为0.02美元，由 Phantom 与 Kalshi 各收0.01美元，另有小额网络转账费，下单前会向用户完整展示。
上线并非全美无差别：因多州诉讼未决，Phantom 首批在 Michigan 屏蔽体育类市场，在 Nevada 屏蔽体育、选举、政治与娱乐类市场，在华盛顿州的屏蔽范围更广，还包括文化、科学技术、提及类与地缘政治类市场。就在上线三天前的10月20日，犹他州总检察长起诉 Kalshi，指其经营非法赌博并要求退还费用；多州与联邦监管权之争仍在进行中。
Phantom Opens Kalshi Prediction Markets to U.S. Users: In-Wallet Event Contracts at 2 Cents Per Contract
Crypto wallet Phantom began a staged rollout of prediction markets to U.S. users on October 23, letting them trade event contracts from Kalshi, an exchange regulated by the U.S. Commodity Futures Trading Commission (CFTC), without leaving the wallet app. The markets span politics, sports, economics and culture, and Phantom said access will expand over the coming weeks. The wallet reportedly has about 20 million users.
The U.S. version works differently from the integration Phantom introduced in December 2025: U.S. users must open or link a Kalshi account inside the app and complete identity verification, including a U.S. phone number and a government-issued ID, with some users also passing Socure checks. According to Phantom general counsel Kevin Jacobs, Kalshi approves and holds users' trading accounts and executes the trades they submit using Phantom, while Phantom remains unregistered with the CFTC and acts only as a passive software interface; trading balances stay in Kalshi's custody, not in the wallet.
The structure rests on CFTC Staff Letter 26-09, issued in March, in which agency staff agreed Phantom need not register as an introducing broker to offer the interface, subject to 10 conditions, including that users sign up as direct members of the exchange and can reach it without Phantom. Staff extended similar relief to other software providers in September. Jacobs said that so long as the company's interaction with these products is consistent with its no-action position, it is confident and comfortable engaging in the activity, and that he believes the CFTC's jurisdiction over the products is clear.
Trades are funded with the dollar-pegged CASH stablecoin held in a Phantom Cash account; funds move to Kalshi and are converted to fiat for settlement, and sale proceeds and winnings return automatically to Phantom Cash. The prediction fee is $0.02 per contract, split evenly between Phantom and Kalshi, plus a small network fee for moving funds, all shown before a trade is confirmed.
The launch is not uniform nationwide. With state litigation pending, Phantom initially blocks sports markets in Michigan; sports, elections, politics and entertainment markets in Nevada; and a broader set in Washington state that also covers culture, science and technology, mentions and geopolitics. Three days before the rollout, on October 20, the Utah Attorney General sued Kalshi, alleging illegal gambling operations and seeking restitution — one of several state challenges still working through the courts.
来源：GSM·美国（原文链接）
图片来源：Kalshi 公司标志，公共领域，经 Wikimedia Commons
