No, panic is not halting, you just need some static check to check that you never call some functions that can panic in your code. Essentially it is just checking if some code (panic) might be reachable, if it is not, it will never panic (but it can still do other crazy things).
Note that we can only check for maybe, because in general we don't know if some code in the middle will somehow execute forever and never reach the panic call after it.