Paimon Kalshi SPV Token Issuance Rules โ Quick Guide
๐ $xKLSH and $pKLSH are Kalshi equity tokens issued by @Paimon_Finance via an SPV (BEP-20 on @BNBCHAIN ).
The SPV directly holds 3,021.15 Kalshi shares (โ0.00898%), fully 1:1 collateralized. Total issuance is hard-capped at 89,782 tokens โ no over-issuance possible.
๐ฐPrice & Size
Liquid Tranche (no lock): 39 USD per token (corresponding to a โUS$39B Kalshi valuation)
Term Tranche (6-month lock): Effective price โ28 USD per token (via 1.4ร conversion, corresponding to โUS$28B valuation โ ~30% discount)
๐ช Series I offering: 64,130 tokens (โUS$2.5M), plus 25,652 tokens pre-reserved as the Conversion Reserve.
๐ Sale window: July 28โ30, settled in USDT.
Two Options (choose once at subscription, irreversible)
1๏ธโฃ Liquid Tranche โ $xKLSH ๐ง
Delivered immediately and freely transferable at 39 USD.
$xKLSH/USDT pool opens within 24 hours after sale close (seeded with Paimonโs own capital).
2๏ธโฃ Term Tranche โ $pKLSH ๐
Non-transferable and non-convertible for the full 6-month term, effective entry at โ28 USD.
At maturity, each $pKLSH automatically converts into 1.4 $xKLSH.
The extra 0.4ร is fully covered by the pre-locked Conversion Reserve. Even if 100% of buyers choose the Term Tranche, every conversion is guaranteed โ no lottery, no dilution.
๐ Simple comparison (US$1,000 example)
Liquid Tranche (39 USD, no lock) โ โ25.64 $xKLSH today
Term Tranche (effective 28 USD + 6-month lock) โ โ35.90 $xKLSH after 6 months (40% more tokens)
๐ช Exit Path
At Kalshi IPO + 6 months, $xKLSH can be converted into a regulated custodial listed-equity stock token (via bStock, Ondo, xStocks or similar rails).
All rules are on-chain, the reserve is pre-funded, and the worst-case scenario is fully covered by design. Definitive terms are subject to the official offering documents.
๐ค Co-launching partners: @lista_dao , @kucoincom ,@astros_ag
#Paimon #xKLSH #pKLSH #Kalshi
Kalshi just crushed it at the 2026 FIFA World Cup ๐ฅ
Over $12B in total trading volume, a record $1.2B on the championship contract alone, and 3 million new users โ real-time markets perfectly tracked Spainโs path to victory and proved the unmatched power of efficient prediction markets.
Building on this momentum, according to the Financial Times (@FT) and @CoinDesk, @Kalshi is now in talks for its next Pre-IPO private funding round, targeting a post-money valuation of approximately $40 billion.
This is widely seen as the final major institutional round before IPO. It follows the May 2026 Series F ($1B raised at a $22B valuation, led by Coatue with @sequoia , @a16z , @MorganStanley and others). The new round is expected to close as early as Q3 2026, with a public listing planned for 2027โ2028.
Report links:
FT โ https://t.co/6vQJgg50qy
CoinDesk โ https://t.co/0kaLNqUkeX
Paimon Finance is proud to support Kalshiโs next chapter.
Predict the future. Bet with confidence. $pKLSH
LATEST: @Kalshi is seeking to raise new capital at a valuation of about $40 billion, nearly doubling the $22 billion valuation from its previous funding round, per FT
Read the full story by @HeleneBraunn on CoinDesk
Paimon Finance is gearing up to launch @Kalshi $pKLSH!
We are excited to bring this to our community.
Stay tuned - Big things are coming.
Who's ready?
#Kalshi#PaimonFinance
Join us: https://t.co/Y7odIwdwwU
Solid report.
The 20x growth in on-chain private credit highlights real demand for yield backed by actual assets.
At Paimon, we focus on BVI-regulated private credit strategies that deliver transparent, auditable yields โ helping users access this growing market with lower barriers.
@Kalshi 90% Spain to win โ and they got it right.
Kalshiโs call on the World Cup final was spot on. Sports continues to be the standout category driving Kalshiโs growth and proving the value of regulated prediction markets.
Well done๏ผ
๐ฐ DTCC โ the clearinghouse that settles almost ALL US stock trades and custodies $114T+ in securities โ is launching production testing for tokenized Russell 1000 stocks, ETFs and Treasuries. 50+ firms involved, including BlackRock, Goldman Sachs, JPMorgan, Circle, and Ondo Finance.
๐ก Why it matters:
This isn't a crypto startup experiment. This is the backbone of US capital markets testing blockchain rails, with a commercial launch possibly by October 2026.
โจ Paimon Insight:
When the plumbing of Wall Street itself starts running on-chain, tokenized private assets get a much smoother path to institutional adoption.
#RWA #TradFi #Tokenization
@tradexyz Strong move. Pre-IPO markets for names like CXMT show how much demand there is for exposure to high-growth private/tech companies before they hit public markets.
Kalshi Is Starting to Surpass Polymarket
For years, Polymarket has been the most recognizable prediction market platform, especially among crypto-native users.
But @Kalshi is catching up fastโand starting to lead in several key areas.
๐ Sports
Since July 2024, sports have reportedly represented:
โข 80% of Kalshiโs trading volume
โข 39% of Polymarketโs trading volume
Sports are frequent, familiar, and easy to understand, making them a strong entry point for mainstream users.
๐ฆ Institutional capital
In May 2026, Kalshi completed a $1 billion financing round at a $22 billion valuation.
It also reported that institutional trading volume grew 800% in six months.
This suggests Kalshiโs growth is no longer just driven by retail attention.
โ๏ธ Regulation
Kalshiโs CFTC-regulated structure gives institutions and traditional financial partners a clearer path to participate in the U.S. market.
Polymarket still leads in crypto-native culture, global reach, and political-market attention.
But Kalshi may be pulling ahead in the part of the market most likely to become:
โ Institutionalized
โ Regulated
โ Mainstream
The real question is no longer just who attracts more attention.
It is who becomes financial infrastructure.
Next: Is the endgame of Kalshi vs. Polymarket an attention marketโor financial infrastructure?
Watch the markets. Access the future.
Powered by Paimon Finance.
๐ฐ Securitize โ the BlackRock-backed tokenization platform โ is going public on NYSE (ticker: SECZ) via a $400M SPAC deal.
The twist: it's tokenizing its OWN stock on its OWN platform, listing both traditional shares AND blockchain tokens at the same time.
๐ก Why it matters:
This is the first time a major RWA infrastructure company proves its tech works โ on itself. No more "trust us," just watch it happen live.
โจ Paimon Insight:
When the tokenization platform becomes the test case, it's a signal the industry has moved from pitch decks to production. Private market infrastructure is no longer theoretical โ it's tradable.
#RWA #PrivateEquity #Tokenization
๐ Why is Kalshi growing so fast?
Kalshi isn't just another prediction marketโit's building regulated prediction market infrastructure for mainstream finance.
Three key drivers:
๐ Regulation: CFTC-regulated, making it far more accessible to institutions, brokers, and traditional traders than crypto-native alternatives.
๐ Sports: The perfect onboarding use case. Since July 2024, sports have accounted for 80% of Kalshi's trading volume, vs. 39% for Polymarket.
๐ฐ Institutional Capital: In May 2026, Kalshi raised a $1B Series F at a $22B valuation. Institutional trading volume grew 800% in 6 months, while annualized trading volume jumped from $52B โ $178B.
The story is no longer just about sports.
๐ Sports are the entry point. Financialized real-world events are the endgame.
๐ท Watch the markets. Access the future.
Powered by Paimon Finance
https://t.co/679D8NQI4h
(11/n) About Paimon Finance:
Paimon Finance looks beyond market prices.
We study the companies and infrastructure building the next generation of financial markets.
From:
๐ฆ Private Markets
๐ค AI Infrastructure
๐ RWA
๐ Pre-IPO Opportunities
We help users understand where the future is being built โ before it reaches the public market.
Watch the markets.
Access the future.
Powered by Paimon Finance.
Join us
https://t.co/679D8NQI4h
๏ผ1/n)๐จ Prediction Markets Are No Longer Just a Narrative.
The data is here.
Prediction markets are moving from a crypto experimentโฆ
into a new layer of market infrastructure.
๐งต๐