Kalshi has risen to the top of the prediction markets space, offering a terrific trading platform for buying and selling event contracts across a variety of outcomes. Read on for a detailed Kalshi review and everything you need to know about claiming the welcome offer.
New users can claim the Kalshi promo code MILE to secure a $10 sign-up bonus after completing their first $10 in trades on any markets.
Kalshi App Review and Available Markets?
Kalshi is a prediction market platform regulated by the Commodity Futures Trading Commission (CFTC) and is a great choice for those looking for an alternative option to traditional sportsbooks. Along with being able to trade on sports markets, users can buy and sell contracts for a range of topics like politics, culture, and financial markets.
Kalshi’s app provides users with all of the same functions they are accustomed to on the desktop version of the prediction market platform. It shares the same clean user interface as the website, with easy-to-navigate menus through broad topics that users can filter down to the specific market of their interests. If scrolling through the wheel of markets is not fast enough, traders can also use a search bar to find the exact market they want.
Users will find that buying and selling contracts is just as straightforward in the Kalshi app as it is on the desktop website. Traders can also track their order history and portfolio on the mobile app. Those with experience using an online sportsbook app will find that it is a relatively seamless transition to using this prediction market platform.
Kalshi offers a massive collection of markets that customers can trade on, including Politics, Sports, Culture, Climate, Financials, Tech & Science, and many more. Users can go from viewing markets on player props for their favorite team to trading on who will be the next governor of California to predicting how much it will rain in Miami this month.
Is Kalshi Legit and Legal in the United States?
The Kalshi app is a legit trading platform that users can trust, as it is regulated by the CFTC. Since the Kalshi app is a federally-regulated Designated Contract Market (DCM), it is available to all users 18 years and older across all 50 states. However, some markets, such as sports, may be restricted in certain states. In short, yes, Kalshi is legit, and it is a real financial exchange with federal oversight.
What Welcome Bonuses and Promotions Does Kalshi Offer?
New users can activate the Kalshi welcome bonus to claim a $10 sign-up bonus after they complete their first $10 in trades. To claim the Kalshi promo code MILE, traders must be physically located in an eligible state and at least 18 years of age.
Using the links on this page will unlock the welcome offer for Kalshi that secures a $10 sign-up bonus to use on any prediction market after the customer has completed $10 in trades.
How Does Trading on Kalshi Work for Beginners?
While the thought of trading on event contracts may sound like a difficult process, Kalshi makes it very easy for beginners with its incredible UI/UX. Every prediction market comes down to a simple yes or no option. Users will buy the yes or no contract for a given market, such as “Will the Spurs win tonight?” The price of that contract is determined by the implied win probability at the time, meaning the more likely the outcome is to happen, the more expensive the contract will be.
If the trader picks the right side of the outcome, they will get $1 back for every contract they bought. A correct prediction contract that is purchased at 55 cents will yield 45 cents in gain once the market has resolved. If the pick loses, $0 is returned to the user.
What Market Categories Can You Trade on Kalshi?
Kalshi has what feels like an endless number of categories you can trade on their prediction market platform. Some of the most popular options are Sports, Politics, Culture, Climate, Financials, Tech & Science, and more. It also has a Trending section where traders can see markets that are gaining market volume and experiencing significant movement.
Sports
Traders can find markets for popular sports and leagues around the world, including collegiate basketball, professional football, Champions League soccer, F1, and many more sub-categories. Along with being able to trade on match outcomes, users can also buy event contracts on player props like points, assists, and rebounds. Sports prediction markets are a great alternative to online sportsbooks for those in states where sports betting is not yet legal.
Politics
Kalshi offers the ability to trade on political results on topics like elections, Presidential cabinet appointments, Supreme Court rulings, and international events, among many other markets. Kalshi became the first CFTC-regulated prediction market platform to be legally allowed to offer election trading across the country.
Entertainment
Pop-culture fans can find a range of markets covering topics like the Oscars, the Met Gala, top shows on streaming platforms, Eurovision winners, and Rotten Tomatoes. Culture has incredible depth with many sub-categories, such as Movies, Music, People, and Video Games.
Weather
Climate is always one of the more popular options on Kalshi, with there always being considerable volume on its various “Daily Temperature” markets. Along with trading on the daily high for a specific city, users can also buy contracts on how much it will rain or snow, how many hurricanes will form in a year, and “will 2026 be the hottest year ever?”
Financials
Users can trade on the results of major exchanges, such as the S&P price by a given time, the Nasdaq’s yearly high, or which company will IPO first. The financial markets on Kalshi also allow traders to predict what the exchange rate between certain countries will be on a given day.
Tech & Science
The Tech & Science markets on Kalshi offer a wide range for traders to pick from when looking to buy contracts on an event. Users can narrow their search in this market by choosing from the AI, Energy, Medicine, or Space sub-categories. Some of the top markets on Kalshi right now are “top AI model this month,” “will the US confirm Aliens exist before 2027,” and “how many launches will SpaceX have in May?”
What Are Kalshi’s Fees, Minimums, and Promotions?
Unlike sportsbooks that are funded through the “vig” on either side of a bet, Kalshi has a fee structure on every trade. They do not use a flat-rate fee per trade, but instead, their fee system is based on how much a trader can gain. While their fee system can be a bit complex to understand, it is on par with other prediction market platforms.
While some contracts can be as little as $0.01 per contract, Kalshi’s minimum deposit threshold is $1. For new users looking to get the most out of Kalshi’s welcome offer, they will need to deposit and complete a trade of $10 to unlock a $10 sign-up bonus. By clicking the link here, new customers can claim the Kalshi promo code MILE offer.
How Do Kalshi Deposits and Withdrawals Work?
Making deposits and withdrawals on Kalshi will be a familiar experience for those who have used an online sportsbook. Users making a deposit or withdrawal that goes through a bank transfer will not have a fee on either side of the transaction. Those using a debit card to make a deposit will incur a 2% deposit fee and a $2 flat fee for withdrawals. Traders who prefer using cryptocurrency will be happy to hear that, unlike sportsbooks, Kalshi does allow users to make deposits and withdrawals with crypto, where they may be hit with third-party transfer fees from their crypto wallet.
What Is Kalshi, and How Do Event Contracts Work?
Kalshi is a CFTC-regulated prediction market platform that allows users to trade on the outcome of various events, such as sporting events, elections, and music charts. In order to trade on a market, traders purchase yes or no contracts for a specific result. Each of these contracts can cost between $0.01 to $0.99, with the price being dictated by the fluctuating market volume and the event’s implied win probability. Kalshi allows users to see the market volume on all of the price points at which other users purchased their positions on the event to help them make a more informed prediction.
If the user purchased the winning side of the event, their contracts will settle with a payout of $1 for every correct contract purchased. Those on the losing side will have $0 returned to their portfolio.
Traders can close their contracts early if they would like to actualize their gains before the event has resolved, yes or no. This can also be used to minimize losses if the user believes their prediction may have been incorrect before the market closes.
Is Kalshi Safe? Security and Privacy Practices
Kalshi prioritizes the safety and privacy of its users. Since it is a CFTC-regulated site, it must meet federal standards dictated by the Commodity Exchange Act. This means that it must ensure customer protection, financial integrity, transparent reporting, and go through intensive compliance programs to maintain its good standing.
Along with being required by law to meet these standards, Kalshi also features anti-money laundering systems and Know Your Customer (KYC) checks, which help prevent identity theft and fraud.
Adding another layer of user protection, Kalshi uses Plaid, a financial tech company that serves as a secure middleman between users and apps. Plaid uses end-to-end encryption between the trader’s bank and Kalshi, meaning that no one at Kalshi is able to see a user’s private information.
What Do Real Users Say? Kalshi Reviews and Complaints
Our testers for this Kalshi review have had overall positive feedback with their experience using the app, with just a few minor complaints. Most important to users was that they felt safe using the app, knowing Kalshi is regulated by the CFTC, ensuring the markets are fair and their data is protected. Among other pros for the Kalshi app are:
- Diverse market categories
- Excellent user interface
- Transparent contract pricing
- Nationwide accessibility
- Ease of deposits and withdrawals
The only complaints that our testers found were that it can be difficult to understand how the transaction fees work when executing trades, there are no live chat or telephone support options for customer support, and some of the more niche markets can have liquidity issues, meaning it can be hard to complete larger trades on some markets.
Kalshi vs Alternatives: Polymarket, Novig, More
| Best Prediction Markets | Kalshi | Polymarket | Novig | FanDuel Predicts |
|---|---|---|---|---|
| 🚨 Promo Code | MILE | MILE | MILE50 | No Code |
| 💲 New User Bonus | $10 Sign Up Bonus | Deposit $20, Get $50 Bonus | Spend $5, Get $50 in Novig Coins | $25 Bonus on Sign Up (iOS) $25 Bonus on Sign Up (Android) |
| 💵 Minimum Deposit | $0 | $1 | $5 | $10 |
| 📱 Mobile App | ios (Appe Store) Android (Google Play) | ios (Appe Store) Android (Google Play) | ios (Appe Store) Android (Google Play) | ios (Appe Store) Android (Google Play) |
| 🎂 Minimum Age | 18 | 18 | 21 | 18 (19 or 21 in select states) |
While Kalshi may have been the first prediction market platform, it no longer stands alone with competitors like Polymarket and Novig. It is, however, still among the best options out there.
Polymarket
For users more familiar with cryptocurrency, Polymarket is a good alternative to Kalshi. Polymarket users can deposit the cryptocurrency USDC through the Polygon blockchain and make withdrawals to their crypto wallets. Polymarket offers many of the same general categories as Kalshi, such as Politics, Sports, Tech, Climate, and Economics, but also offers many more sub-categories for these areas than other platforms.
Novig
Novig is a great option for traders who like prediction markets but are only interested in sports event contracts. Novig’s user interface closely resembles that of a traditional sportsbook and will make it easy for users coming from an online sports betting background to make the switch. The one major difference between Novig and Kalshi is that Novig operates under sweepstakes laws, rather than being a CTFC-regulated DCM.
Kalshi Review FAQs
Below are some of the most frequently asked questions we get asked about Kalshi:
What is Kalshi?
Kalshi is a CTFC-regulated prediction market platform that allows users across the country to buy and sell contracts on the outcomes of future events.
What is the best Kalshi promo code?
New traders who use the Kalshi promo code MILE will unlock a $10 sign-up bonus after they complete their first $10 in trades.
What states is Kalshi available in?
Kalshi’s prediction market platform is available in almost every state across the United States. Kalshi currently faces restrictions in MD, MT, NJ, NV, and OH.
What is the minimum age for Kalshi Event Trading?
As required by CTFC laws, the minimum age to place trades on Kalshi is 18 years old.
Does Kalshi have an app?
Yes, Kalshi has both an Android and iOS app that can be downloaded from the store for each operating system.
What can I trade on Kalshi?
Users can buy and sell yes/no outcomes for categories like Sports, Politics, Culture, Climate, Financials, Tech & Science, and much more.
Does Kalshi accept credit card deposits?
Kalshi does not allow users to make deposits or withdrawals with a credit card. Traders can make deposits and withdrawals using debit cards, bank transfers, and crypto.
Is Kalshi legal?
Yes, Kalshi is a legal prediction market platform. As a Designated Contract Market, it receives federal regulation from the Commodity Futures Trading Commission (CFTC).