US Prediction Market Platform Intends to Open Crypto Price Bets Service

US-based prediction market platform Kalshi is introducing five new event contracts for its clients on Monday, allowing them to make predictions on the market prices of Bitcoin and Ether.

These new offerings include a market event contract for Bitcoin’s future value, with users able to bet on five different price targets for this year, ranging from $75,000 to $150,000 or above.

Other event contracts involve predicting the daily price of ether at 4 p.m. Despite the bets being based on cryptocurrency prices, users can place them in US dollars rather than crypto.

Kalshi offers users the opportunity to bet on various topics in different fields, such as the likelihood of another Fed rate hike or a hurricane hitting New Orleans in 2024.

These new prediction markets from Kalshi come at a time when the cryptocurrency market has been experiencing significant growth since the second half of last year.