Kalshi partners with Zero Hash for USDC deposits

Kalshi, a regulated prediction market exchange, has partnered with Zero Hash to introduce USD Coin (CRYPTO:USDC) deposits for account funding.

This collaboration allows Kalshi users to deposit USDC, which is then converted into fiat currency using Zero Hash’s technology, according to a press release.

The integration aims to provide near-instant funding and 24/7 deposit capabilities, eliminating delays linked to traditional banking hours.

Kalshi’s approach seeks to simplify the funding process by enabling users to deposit in USDC without directly handling cryptocurrencies.

This setup maintains Kalshi’s fiat-based trading environment while leveraging the efficiency of stablecoin transactions.

The new deposit service follows Kalshi’s legal win earlier in October.

The U.S. Court of Appeals granted Kalshi permission to list prediction contracts determining which political party will control Congress, overturning a previous denial by the Commodity Futures Trading Commission (CFTC).

Launched in 2020, Kalshi offers event-based contracts, allowing users to speculate on various real-world events.

These prediction markets, which include political contracts tied to the upcoming U.S. presidential election, enable participants to buy and sell shares based on their expectations of specific outcomes.

Kalshi’s platform, along with similar services like Polymarket, facilitates forecasting by allowing users to potentially earn profits if their predictions prove accurate.

At the time of reporting, the USDC price was $0.9998.