Kalshi Prime and BitGo have launched a margin setup aimed at crypto holders who do not want to sell their coins to fund trades. Clients keep Bitcoin, Ethereum, or stablecoins in custody at BitGo Bank and Trust, then borrow U.S. dollars against those assets through Kalshi Katalyst, Kalshi’s lending affiliate. Those dollars are deposited into a Kalshi Prime account and can be used as margin for Kalshi perpetual futures and other eligible products.
The practical takeaway is simple: traders can keep their crypto position intact while turning it into trading collateral. The coins stay at BitGo rather than moving onto the trading venue, while Kalshi receives cash margin in the trading account.
That may reduce one friction point for clients who already hold large crypto balances, but it does not reduce the core risk. If the value of the pledged crypto falls, borrowers can still face pressure tied to loan terms, collateral requirements, and liquidation triggers, details Kalshi has not disclosed.