Event contract provider Karsi plans to integrate its US-regulated prediction market platform into all major crypto exchanges and applications within 12 months, according to John Wang, the company's head of cryptocurrencies.
Wang outlined the expansion strategy in an interview at the Token2049 conference in Singapore, saying the initiative will drive the platform's potential 10x growth. The 23-year-old executive, who worked as a crypto trader for eight years before joining Calsi in August, said the company wants to build what it calls “an ecosystem of new financial primitives and trading front ends” on top of its existing infrastructure.
“The crypto community is the definition of power users, people who bring new financial markets and frontier technologies to life,” Wang said in an interview. The Block. “We welcome a large developer base passionate about building tools for power users.”
The tailwind was that Kalsi captured 66% of the forecast market share by late September, up from 3.3% a year ago. This growth has helped it outpace its crypto-native competitor Polymarket, which previously dominated the space. Most of Carsi's recent business value has come from NFL-related event contracts in the United States.
Kalshi not only works with crypto exchanges, but also retailers such as FOREX.com and Webull.
Despite being deployed in only one country, Kalshi officially accounts for up to 70% of the world's prediction market volume.
One year ago today it was 2.4%… pic.twitter.com/uTPEQDJyAq
— John Wang (@j0hnwang) October 3, 2025
Blockchain Push Target Developer Tools
Kalshi's on-chain strategy focuses on pushing event data to the blockchain in real-time for use by external developers. Last month, the company announced partnerships with Solana and Base and launched a grant program for builders working on both on-chain and off-chain tools. Wang said more blockchain partnerships are in the works.
The platform hopes developers will create data dashboards, AI agents, and what Wang calls “a new venue for information arbitrage.” He emphasized that blockchain functionality is an optional addition, not a replacement for existing functionality.
“If we didn’t look the crypto community in the eyes and say, ‘We’ve made a real positive impact here, we’ve brought a new audience into crypto,’ I think we would have been remiss in our work in 12 months,” Wang told The Block.
The platform gained significant traction through its strong partnership with Robinhood, which has invested heavily in the development of both event contracts and equity tokenization. Vlad Tenev, the company's CEO and co-founder, believes these innovations are the future of retail transactions.
Related articles: CEO says Robinhood market forecast exceeds 4 billion contracts in history
Predictive market as a gateway product
Wang positioned prediction markets as an easier entry point into crypto derivatives, arguing that prediction markets offer a more accessible package than traditional option contracts. He pointed out that crypto options have not received much attention despite being frequently discussed in the trading world.
“I think prediction markets are similar to (cryptocurrency) options packaged in the most accessible way possible,” Wang said. “So I think prediction markets are kind of a Trojan horse for[people]to get into cryptocurrencies.”
The company also plans to significantly expand its cryptocurrency-specific event contracts, although Wang declined to provide specific numbers or schedules.
Wang said Kalsi will continue to fine-tune its user interface to set itself apart from competitors like Polymarket. He explained that different market categories require different information flows and contexts, meaning the platform design will reflect those variations.
Regulatory victory opens the door
Wang attributed Calsi's increased market share to three years of regulatory infrastructure development in the United States. The company sued the Commodity Futures Trading Commission in 2023 after the commission blocked it from offering political election contracts. A district court ruled in Carsi's favor, and the CFTC withdrew the appeal in May.
“(Kalushi) fought a long game and we were able to legalize right before the election. We took the opportunity and did the best we could,” Wang said. “Prediction markets and event contracts are now taking place at the same level as regular derivatives and equities. It's really like the newest asset class in a new world.”
Karshi CEO Tarek Mansour participated earlier this week in an SEC-CFTC roundtable focused on regulatory oversight of prediction markets and other emerging financial products.
But the company is also grappling with litigation and regulatory disputes across multiple U.S. states. Suspicions that the platform operates as a form of gambling have intensified since poker legend Daniel Negreanu was appointed as its public ambassador.
