Kalshi has appointed John Wang as its new head of crypto, reflecting a push into crypto betting amid regulatory pressures.
Kalshi's New Crypto Strategy
The appointment was announced on Monday on LinkedIn. Based in New York, Kalshi faces growing competition, and the new head of crypto is expected to enhance user engagement. CEO Tarek Mansour framed the hiring as 'betting on slope,' emphasizing the urgency of this strategy.
Expanding Crypto Options
Kalshi is not limiting itself to traditional event markets, actively adding tools to attract crypto-native traders. Earlier this year, it enabled Bitcoin and USDC deposits and integrated Solana support in May, providing users with more funding options. Wang believes prediction markets can reshape social and political engagement, stating, 'This is how society will process truth.'
Growth Amid Regulatory Scrutiny
Kalshi completed a $185 million Series B funding round in June 2025, achieving a $2 billion valuation. This funding helps Kalshi navigate regulatory oversight from the Commodity Futures Trading Commission, which previously filed enforcement action against the company but later dropped the case. Wang's appointment positions Kalshi to compete more directly with decentralized prediction platforms.
John Wang's appointment as the head of crypto highlights Kalshi's ambitions in the predictive markets and adaptability to the changing landscape of the crypto industry.
