The U.S.-regulated prediction marketplace Kalshi hired John Wang, a 23-year-old crypto entrepreneur turned social media influencer, to spearhead the company's push into digital assets.Kalshi Names John WangHead of Crypto in Digital PushWangdropped out of the University of Pennsylvania to start Armor Labs, a cryptocompany that was later acquired. Before joining Kalshi, he advised cryptostartups and built a following on X (formerly Twitter) writing aboutcryptocurrency and finance topics.Kalshi CEOTarek Mansour said he discovered Wang through his social media commentary. Thehire comes as the prediction platform looks to capitalize on the Trumpadministration's more favorable approach to cryptocurrency regulation."Allthe largest fintech companies are adopting crypto strategies as a core part oftheir company missions now," Wang said. His immediate focus involvescreating "culturally resonant, fast moving markets that speak directly toyour crypto Twitter people."The companyalready started accepting crypto deposits as an alternative to traditional banktransfers and debit card payments. Mansour suggested the distinction betweencrypto and traditional financial companies is blurring."Wedon't really see this distinction between a crypto company and a non-cryptocompany," he said. "Over time, anyone who is basically moving moneyor anyone who's in financial services is going to be a crypto company in oneway, shape or form."https://t.co/UlBelqpDXA— John Wang (@j0hnwang) August 25, 2025Event Contracts on theRise, Along With ControversyKalshi gainedsignificant attention during the 2024 presidential election, partly becauseit operates as a CFTC-licensed exchange. This regulatory approval gives it anadvantage over competitors like Polymarket, which runs on blockchain technologybut restricts U.S. users due to regulatory concerns.The companyhas notable political connections. Donald Trump Jr. serves as a strategicadviser, while board member Brian Quintenz received Trump's nomination to leadthe CFTC.In its mostrecent funding round, Kalshiraised $185 million at a $2 billion valuation. Notable investors includedcrypto-focused venture funds Paradigm and Multicoin.Thebusiness, however, is not without controversy. Major global exchanges haverecently highlighted the need to regulate, or even restrict, thetokenized equities and event contracts sector. Kalshi, together withRobinhood, which offers the provider’s products, has been regularly sued incourt. Thelatest example came last week, when a lawsuit targeted event contractsresembling sports betting.From Doomscrolling toActive ParticipationWangdescribed his fascination with prediction markets dating back to discoveringAugur during the 2018 crypto market downturn. He sees these platforms astransforming passive news consumption into active participation."Mygeneration grew up doomscrolling, watching events unfold passively withdistance and hopelessness," Wang wrote on LinkedIn. "Predictionmarkets flip that script. Even a small stake makes you pay closer attention,talk about it with friends, and feel invested in what happens next."The companyplans to expand its crypto offerings in the coming months, though specificdetails about new products remain unclear. Back in June, thecompany partnered with Webull, allowing U.S. retail traders to speculate onshort-term cryptocurrency moves, including Bitcoin (BTC).This article was written by Damian Chmiel at www.financemagnates.com.