Kalshi, a prediction market platform, is targeting crypto traders in anticipation of the upcoming U.S. elections. Recently, the platform began accepting stablecoin deposits, leading to a surge in activity with over $20 million in USDC deposits from approximately 21,000 users within just 36 hours. This move aims to compete with other popular crypto-native prediction markets as political betting intensifies. Kalshi's head of market research noted a notable uptick in both retail and institutional participation. The company has secured regulatory approval to operate U.S.-political betting and has seen substantial trading volumes, particularly on election markets, vastly outpacing non-electoral options. Kalshi also intends to expand into international political markets after the current election cycle, pending approval from U.S. regulators.

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