Republican

United

President Trump

USDC

Kalshi will start taking deposits in USD Coin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/usdc-price-index" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/usdc-price-index">USDC</a>), a popular stablecoin, as the prediction marketplace vies for users ahead of the United States’ November elections, the platform confirmed on Oct. 28.
Cryptocurrency deposits will be live imminently, with offramping managed by ZeroHash, a crypto payments platform, according to a report by Fortune magazine.
Competition is heating up among political betting platforms, with <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/former-president-trump-gains-10-point-lead-harris-polymarket" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/former-president-trump-gains-10-point-lead-harris-polymarket">Web3 platform Polymarket</a> decisively in the lead and rivals, including Kalshi, scrambling to catch up.
<figure><img alt="Election betting market Kalshi to take USDC deposits" src="https://s3.cointelegraph.com/uploads/2024-10/0192d497-c321-7dc3-aef2-11c1bf70de72" title="">
 <figcaption style="text-align: center;">
 Source: Kalshi
 </figcaption>
</figure>
<h1 id="em-strong-related-strong-em-a-data-ct-non-breakable-null-href-https-cointelegraph-com-news-kalshi-adds-global-elections-betting-platform-rel-noopener-noreferrer-nofollow-target-_self-text-null-title-https-cointelegraph-com-news-kalshi-adds-global-elections-betting-platform-em-strong-kalshi-adds-global-elections-to-betting-platform-strong-em-a">Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/kalshi-adds-global-elections-betting-platform" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/kalshi-adds-global-elections-betting-platform">Kalshi adds global elections to betting platform</a></h1><advertisement>
 On Oct. 7,&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/kalshi-election-betting-contracts-live-us-court-win" rel="noopener noreferrer nofollow" target="null" text="null" title="https://cointelegraph.com/news/kalshi-election-betting-contracts-live-us-court-win">Kalshi listed event contracts</a>&nbsp;for betting on US election outcomes after prevailing in a landmark court battle in September. 
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This marked the first time an election prediction market has been permitted to operate in the US. It paves the way for others to enter the fray, including Web3 platforms such as Polymarket.
On Oct. 28, cryptocurrency and stock trading platform Robinhood announced it had <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/robinhood-presidential-elections-contracts-kamala-harris-donald-trump" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/robinhood-presidential-elections-contracts-kamala-harris-donald-trump">introduced contracts</a> for certain users to bet on the outcome of the presidential election between Vice President Kamala Harris and Republican candidate Donald Trump.
Meanwhile, some $2.6 billion rides on the outcome of the November presidential election on Polymarket as of Oct. 23, according to its website.
As of Oct. 23, Kalshi’s flagship market — “Who will win the Presidential election?” — has bootstrapped nearly $87 million in total betting volume since listing on Oct. 7, according to Kalshi’s website.&nbsp;
US regulators said election prediction markets such as Kalshi threaten the integrity of elections, but industry analysts say they often capture public sentiment&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/prediction-markets-polymarket-polls" rel="noopener noreferrer nofollow" target="null" text="null" title="https://cointelegraph.com/news/prediction-markets-polymarket-polls">more accurately than polls</a>.&nbsp;
<figure><img alt="Betting, Circle, Donald Trump, Kamala Harris, US Elections 2024" src="https://s3.cointelegraph.com/uploads/2024-10/0192d4a4-acbf-75b5-8a4a-fca92be2c8b8" title="">
 <figcaption style="text-align: center;">
 Three in four crypto owners said a candidate’s crypto policy will impact how they vote. Source: Gemini
 </figcaption>
</figure>
Former President Trump is&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-s-odds-near-67-as-polymarket-whale-bets-another-2-m" rel="noopener noreferrer nofollow" target="null" text="null" title="https://cointelegraph.com/news/trump-s-odds-near-67-as-polymarket-whale-bets-another-2-m">favored to win the presidency&nbsp;</a>by a significant margin on Polymarket and Kalshi. The platforms peg Trump’s odds at 62% and 66%, respectively, according to both websites as of Oct. 28.
The November election pits Trump — who has said he wants to make America “the crypto capital of the world” — against Harris, who has been comparatively quiet on the industry.
Bitcoin’s&nbsp;(<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) performance is creating a “<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-bullish-setup-ahead-election-vaneck" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-bullish-setup-ahead-election-vaneck">very bullish setup</a>” for the digital asset as investors brace for the election, Matthew Sigel, VanEck’s head of digital assets research, told CNBC on Oct. 28.<advertisement>
 Magazine:&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoiners-all-in-trump-since-bitcoin-2024-getting-risky/" rel="noopener noreferrer nofollow" target="null" text="null" title="https://cointelegraph.com/magazine/bitcoiners-all-in-trump-since-bitcoin-2024-getting-risky/">Bitcoiners are ‘all in’ on Trump since Bitcoin ’24, but it’s getting risky</a> 
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Election betting market Kalshi to take USDC deposits

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