Opinion vs Phantom
Same lines, side by side: fee at 50¢, custody, KYC, excluded countries, resolution and volume, from official pages and DefiLlama.
See the 21 differences
| Line | Opinion | Phantom |
|---|---|---|
| Type | VenueLists, matches and settles its own markets | Wallet or appWorld, Kalshi |
| Taker fee | Edge0.5–1% at 50¢Takers pay the market's topic rate × p × (1 − p), capped at 1% at 50¢, with a $0.25 minimum: 100 contracts at 50¢ cost $0.25 to $0.50. Makers pay nothing and receive 50% of the taker fee. Minimum order $5, minimum withdrawal $5. | 4–5% at 50¢Outside the US, each trade pays 0.1 × p × (1 − p) per contract: 100 contracts at 50¢ cost $2.50. In the US, Kalshi markets cost $0.02 a contract, $0.01 to Phantom and $0.01 to Kalshi: $2.00 for 100 contracts at any price. Funding from the Cash account is gasless; other tokens need SOL for network fees. |
| 30-day volume | Edge$267M | Not tracked |
| New-user perk | Up to 10% off trading fees with a referral code | 10% of your own trading fees back for three months, when you sign up on mobile with a code |
| Custody | Self-custody: you trade from your own wallet | Self-custody outside the US; funds at Kalshi in the US |
| Identity check (KYC) | Not documentedNo KYC policy is published; you connect a self-custody wallet such as Binance Wallet, OKX or MetaMask. | Not documentedIn the US, Kalshi verifies your identity before any trade. Phantom's help page for World markets describes no identity check. |
| Excluded countries | 14Terms dated 19 October 2025: the US, the UK, France, Ontario, Singapore, Poland, Thailand, South Korea, China, Taiwan and Hong Kong, plus sanctioned countries and regions. The site returns a geo-block page from France. | 2Phantom's help center excludes the UK and Germany, plus jurisdictions sanctioned by the US, from World prediction markets, which are not offered in the US either. In the US, Kalshi markets have been rolling out since 23 October 2026, and the same page lists them as available except in Michigan, Nevada and Washington. |
| Resolution | AI panel, human appealOpinion AI proposes the outcome from predefined sources, then a jury of models and human reviewers check it. Anyone can dispute within the window, usually two hours, by staking OPN: an upheld dispute returns twice the stake, a rejected one loses it. | Settled by the source venueOutside the US, World settles each market from the oracle named in its rules, Chainlink in Phantom's disclosures, with a challenge period. In the US, Kalshi decides under its market rules. Phantom says it does not decide results. |
| Settles on | BNB Chain | Solana (World) · Kalshi Klear (US) |
| Collateral | USDT | CASH |
| Operator | Superchillclub Limited | Phantom Technologies, Inc. |
| Token | OPNBNB Chain | No token |
| Where it runs | Web | iOS, Android |
| Chains | EVMBNB Chain | SolanaSolana |
| Documented features | Edge6 of 10 | 1 of 10 |
| Order book | Yes | No |
| Anyone can create a market | Yes | No |
| Combos / parlays | Not documented | Not documented |
| Maker rebates | Yes | Not documented |
| Yield on collateral | Not documented | Not documented |
| Trading API | Yes | No |
| Mobile app | Not documented | Yes |
| Telegram bot | Not documented | Not documented |
| Own token | Yes | Not documented |
| Points program | Yes | Not documented |
Which one should you pick?
Pick Opinion if
You want macro and political markets on BNB Chain with the cheapest taker fee at 50¢.
A BNB Chain venue built around macro and political markets, with the lowest maximum taker fee in the series, 1% at 50¢, and an AI oracle whose results anyone can dispute by staking its OPN token. Its January 2026 volume drew public questions about wash trading, and DefiLlama filters flagged wallets out of its figure.
Read the Opinion reviewopinion.trade
Pick Phantom if
You already use Phantom on your phone and want to trade events without leaving the wallet.
A predictions tab inside the Phantom app rather than a venue: outside the US it trades World markets on Solana, settled in Phantom's CASH stablecoin, and since 23 October 2026 US users outside Michigan, Nevada and Washington get Kalshi markets after an identity check. The fee is steep: 5% at 50¢ outside the US, more than most venues charge directly.
Read the Phantom reviewphantom.com
