Crypto World
Kalshi Partners with Luxury Watch Marketplace Bezel
The partnership with the CFTC-regulated prediction market will let users bet on luxury watch prices.
Kalshi, the largest prediction market platform by monthly spot volumes, has unveiled a strategic partnership with Bezel, a specialist in authenticated luxury watches, to let Kalshi users bet on the prices of luxury watches. Kalshi announced the move in an X post today, March 3.
The partnership with Bezel is part of Kalshi’s broader strategy to enhance its offerings in the collectibles market, Bloomberg reported today, citing executives from both firms.
Bezel’s CEO and co-founder, Quaid Walker, told Bloomberg that watches have “been viewed as a financial market for a really long period of time, but it’s also passion-driven.”
Kalshi’s previous moves into collectibles markets include a recent partnership with StockX, a platform for trading physical collectibles, from trading cards to sneakers and other apparel and accessories.
Today’s announcement comes as the hybrid on-off-chain prediction platform had its best month yet, per data from Artemis. Kalshi also surpassed on-chain prediction marketplace Polymarket in monthly trading volumes for the sixth consecutive month, with $9.8 billion in trades in February.
Polymarket saw just under $8 million last month, while total sector volume was down month over month for the first time since last August, as BNB Chain-based rival Opinion recorded a massive drop.
Kalshi and Polymarket have been neck and neck in recent months, both in terms of trading volumes and valuations, after their most recent funding rounds.
The prediction market industry is navigating complex legal landscapes, with platforms like Kalshi and Polymarket under scrutiny — including in the United States, where both platforms now operate as regulated entities under the Commodity Futures Trading Commission (CFTC).
As The Defiant reported, last month, the CFTC took a strong public stance on the issue, arguing that that the agency, not individual states, should regulate prediction market platforms.
This article was generated with the assistance of AI workflows.