Kalshi appoints John Wang as crypto division head
Prediction market platform Kalshi has appointed digital asset influencer John Wang as head of its cryptocurrency division. The 23-year-old college dropout brings experience from Paradigm, Immutable and co-founding Armor Labs. CEO Tarek Mansour described the hire as a “bet on slope,” praising Wang’s strategic mindset, ambition and work ethic. The move comes amid heightened regulatory scrutiny: the CFTC previously filed then withdrew enforcement action against Kalshi and is now considering a new chairman nomination. This appointment follows Kalshi’s surge in election-related markets and aims to expand its crypto offerings after launching Bitcoin (BTC) deposits in April. The company also closed a $185 million funding round at a $2 billion valuation in June to attract crypto-native traders and accelerate product development.
Bullish
Kalshi’s launch of Bitcoin deposits and the appointment of a dedicated crypto division head signal increased institutional adoption and infrastructure support for BTC. In the short term, market reaction may be modest as traders digest the news; however, the long-term outlook is positive as enhanced platform capabilities and regulatory clarity can drive greater BTC inflows and user engagement, supporting price appreciation.