Comparison note

Kalshi logo

Kalshi

Check your state

Event contracts on politics, economics, and more.

Kalshi is a CFTC-regulated U.S. event-contract exchange. Reading guide only — no account path, no referral, no partnership.

  • Regulated
  • Cents / $0–$1
  • Many U.S. states — confirm in-app
  • As of Oct 2026

Illustrative cents / $0–$1 shares — not a live book. Comparison listing only · how cents work

Status as of October 9, 2026. Jurisdiction and product eligibility vary; confirm in-app as of your signup date. Comparison listing only — no partner or affiliate claim.

What is Kalshi?

Kalshi is a CFTC-registered U.S. event-contract exchange. You buy and sell Yes/No contracts on dated real-world outcomes — elections, official economic prints, weather, culture, other listed events — with cash settlement at resolution. We list it for comparison. No account path. No cut.

Who is Kalshi for?

Readers who want a federally registered exchange and dollar settlement. Start with the cents quote and the resolution rule. Then check whether Kalshi’s own screen authorizes your state for that product.

How do prices work on Kalshi?

Illustrative Yes · 62¢ ($0.62)

  • A Yes at 62¢ is a $0.62 share. Prices sit between $0.00 and $1.00. If the stated event resolves Yes, that share is typically worth $1.00 before fees; if it resolves No, Yes is typically worth $0.00.
  • Traders often speak in cents — “the race is at 48¢” — which is the same object as a $0.48 contract. This site standardizes on that scale so Kalshi can be read next to every other listing.
  • The cent price is a traded price first and an implied probability second. Spreads, fees, and the exact settlement text still belong to Kalshi, not to this page.

Learn how cents / $0–$1 shares work

What can you trade on Kalshi?

  • U.S. elections and political control
  • Fed decisions, inflation, and jobs prints
  • Climate and weather thresholds
  • Culture, awards, and listed sports events

How is Kalshi different from other prediction markets?

  • Kalshi is a CFTC-designated USD exchange. Polymarket US is a separate CFTC-designated exchange, and Crypto.com’s prediction contracts are offered by CDNA, another CFTC-designated contract market. Polymarket’s international site is crypto-based.
  • It is a standalone event-contract venue, not a brokerage tab (Robinhood) and not a sportsbook-branded prediction vertical (FanDuel Predicts, DraftKings Predictions).
  • Sports-themed contracts, where listed, still use cents / $0–$1 shares — they do not inherit a state sportsbook map.

Kalshi vs Polymarket US, side by side →

What are the fees?

Trading and deposit fees: from Kalshi’s fee schedule, effective July 7, 2026, checked October 20, 2026. Minimum deposit: from Kalshi’s Transfers FAQ, checked October 27, 2026. Some markets carry a different multiplier or a maker fee. Kalshi’s own screen is final.
Trading fee
0.07 × contracts × price × (1 − price), rounded up — $1.75 on 100 contracts at 50¢
Deposit / withdrawal
No Kalshi fee on ACH in or out; debit card deposits up to 2%
Minimum deposit
$10 minimum; $1,000 for wire

Getting started and getting paid

Minimum age

18 or older

ID check

Government-issued photo ID (driver's license or passport), photographed live. Some users are asked for a selfie or phone verification.

Minimum deposit

$10; $1,000 for wire

Deposit methods

Debit card (including Apple Pay and Google Pay), bank transfer (ACH), PayPal, Venmo, Cash App, crypto, wire

Withdrawal methods

The same methods except Cash App, which is deposits only. Withdrawals go back to the original payment method after a security hold.

Payout timeHow long a withdrawal takes once you request it, as Kalshi states it.

Debit card: typically within a few hours. Bank transfer: typically within a few business days.

From Kalshi’s own pages, with the date we checked each one. — means we did not find it there, so check with Kalshi.

Compare every platform →Fees, side by side →

Are there bonuses or promotions?

Program exists — amount in-productReferral / promo-code program
Kalshi’s help center describes a Referral Program and a Promo Code Program. New users sign up with a referral link or code, finish identity verification, and meet the trading requirement shown in Rewards. We will not reprint a third-party code or a single “welcome bonus” number — official help says the amount that applies to your account is in the app.

Terms highlights

  • Kalshi’s FAQ says referral rewards may be issued as trading credits with withdrawal restrictions. Some must be traded on an eligible product before they become withdrawable.
  • Credit deadlines vary by offer. The FAQ says unused credits may expire and be forfeited under the applicable terms.
  • A valid code can be added within 72 hours of account creation if no code is attached. The FAQ says depositing or trading does not by itself close that window.
  • Referral offers are described as available only to eligible U.S. users. Limits vary by program and are shown with your offer.

Eligibility / geo. U.S. users only on the published FAQ. Product and state eligibility still follow Kalshi’s own screen — a promo program is not a fifty-state all-clear.

Full bonuses comparisonOfficial source ↗nofollow · not a referral

Event-contract trading risks money you can lose. Responsible trading.

Where is Kalshi available?

As of this snapshot, Kalshi is commonly discussed as available to residents in many U.S. states for designated event contracts. That is not a fifty-state all-clear.
  • The operator’s eligibility screen on the day you check is authoritative.
  • A national politics contract can still be geoblocked in a given state.
  • State pages on this site are dated notes, not a live compliance API.

  • Court and regulator actions about Kalshi are not the same in every state, and several of them cover sports-event contracts rather than every market. The Sixth Circuit held on September 25, 2026 that Kalshi had not shown its sports-event contracts are 'swaps,' and that the Commodity Exchange Act does not preempt Ohio's and Tennessee's gambling laws (opinion). The September 1, 2026 order of the Ingham County Circuit Court in Michigan binds Kalshi and persons in active concert with Kalshi who receive actual notice; other operators are not named (order). Check the app before you trade.

Kalshi by state

Kalshi does not publish a state-by-state list on the pages we checked, so every row reads Check status.

State actions that name Kalshi: Arizona, California, Connecticut, Illinois, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New York, Ohio, Tennessee, Utah, Washington

Checked Kalshi’s help center on October 27, 2026. The app’s own eligibility screen is final.

Your state’s label counts every app we track. Open your state page →

CaliforniaTexasIllinoisFloridaNew YorkAll state guides

Visit operator site ↗ · nofollow · not a referral

Pros and cons

Pros

  • Federally registered exchange framing for listed event contracts
  • USD settlement and cents / $0–$1 pricing
  • Broad catalog across politics, macro prints, weather, and culture
  • Standalone venue — you are not inheriting a sportsbook or brokerage map

Cons

  • Not every product is open in every state
  • Trading fees apply on every matched order; the fee is highest near 50¢
  • No crypto-collateral book for readers who want one
  • Advanced tooling and catalog depth still evolve with listings

Common questions

What is Kalshi?
A CFTC-registered U.S. event-contract exchange. Contracts are typically Yes/No shares priced between $0 and $1. This site does not operate Kalshi and does not refer accounts.
How do Kalshi prices work?
Read them as cents or $0–$1 shares. A 62¢ Yes costs $0.62 today. A correct Yes resolution is typically $1.00 per contract before fees.
Can I use Kalshi in my state?
Often yes for designated contracts, still product-specific. Check the matching state guide on this site, then confirm in Kalshi’s own app.
Does PredictionMarketsUSA.com partner with Kalshi?
No. Kalshi is a comparison listing only — no affiliate link, no referral code, no endorsement.

Prices discussed here are cents or $0–$1 shares only. Informational — not legal advice, and not a solicitation.

Also on the board

Other prediction market platforms

No side. We date the snapshot.

Sourced from public filings, operator terms, and official materials — not from a partner desk.

As of Oct 2026. View methodology