Bankless · Tuesday, September 1, 2026
John Wang detailed Kalshi's commitment to an onshore, regulated approach for prediction markets, contrasting it with offshore, less regulated alternatives. He argued this strategy is crucial for tapping into the broader 99% of the market, enabling activities like paid advertising and partnerships with major consumer brands.
“The steel man, I would say, is you always have this choice of going, you know, offshore and like VPN. And that does actually, it does make like doing no KYC and stuff like that. It does make onboarding the like crypto native user base easier, I would say, because. they've jumped through these hoops before. It's kind of what they're used to.”
“But for like the 99% TAM of the world, which I really think is the TAM that we should be trying to tap into at this stage where we're trying to find the marginal user to bring into the crypto industry or to trade... this like very exciting new instrument, well, not new, but like very exciting instrument that was born out of the crypto industry, Perpetual Futures, that is the user set that we should be hunting for.”
“And the only way to tap into that user set, I would say is, You're able to like run paid ads on Facebook and Instagram, able to like put up billboards. You're able to partner with like household consumer names, um, and like, uh, find, get integrated into large brokers and financial institutions.”