Kalshi Promo Code SI60: Trade $25, Get $60 Bonus September 2026
- How does the Kalshi promo code work?
- Kalshi promo code terms and conditions
- How do you claim the Kalshi promo code?
- What is Kalshi and how does it work?
- Is Kalshi legal?
- Kalshi platform overview
- What’s trending on Kalshi
- Kalshi fees, limits, and withdrawals
- Kalshi app experience
- Kalshi vs. traditional sportsbooks
- Kalshi vs. other prediction market platforms
- Market access and trading options on Kalshi
- Risk awareness and responsible trading on Kalshi
- Kalshi customer support and account help
- Latest Kalshi updates
- Kalshi promo code FAQs
The Kalshi promo code SI60 gives new users an enhanced $60 bonus when they complete $25 in trades — the largest Kalshi welcome offer for Week 2 NFL trading on September 18, 2026, and $5 more than the next highest Kalshi offer.
Deposit $10+ and complete $25 in qualifying trades to unlock $60 in bonus credits, giving you up to $85 in total trading value on Kalshi. I'll show you how to claim the $60 Kalshi sign-up bonus today and start trading NFL markets on this leading prediction market app.
Kalshi promo code summary for September 2026
| Kalshi promo offer | Details |
|---|---|
| #️⃣ Kalshi promo code | SI60 |
| 🎁 Welcome offer | Trade $25, get $60 in trading credits |
| 💸 Minimum deposit | $10 |
| 📈 Trade requirement | Complete $25 in eligible trades within 30 days |
| 💰 Bonus reward | $60 in Kalshi trading credits |
| 🕛 Time to qualify | 30 days from registration |
| 📅 Bonus expiry | 7 days after credits are issued |
| 🌍 Offer availability | Ongoing |
| ✅ Last verified by SI | September 18, 2026 |
| 📊 Eligible markets | Eligible Kalshi event-contract markets |
| 🇺🇸 Kalshi availability | Available across most U.S. states; restrictions apply in select jurisdictions |
| 🗓️ Minimum age | 18+ |
| 📝 Kalshi promo code terms and conditions | Certain limitations apply. The offer is available to new users only. 18+ only. Restrictions and eligibility requirements apply. Event contract trading involves significant risk and is not appropriate for everyone. Please carefully consider if it is appropriate for you in light of your personal financial circumstances. Kalshi products are not available in all jurisdictions. See Kalshi's regulatory information for details. |
How does the Kalshi promo code work?
The best Kalshi sign-up bonus code is SI60, which unlocks a $60 welcome bonus when you complete $25 in qualifying trades within 30 days of signing up. While new users can claim lower-value bonuses through standard offers, SI60 gives you $60 for the same $25 trading requirement as other offers.
Don't settle for lower-value offers. The SI60 bonus is the largest Kalshi welcome offer available today and 140% larger than the previous standard $25 Kalshi welcome offer, making it one of the best prediction market promos for new users this NFL season.
| Kalshi offer | Promo code | Trading requirement | Bonus | Value |
|---|---|---|---|---|
| SI exclusive offer | SI60 | Trade $25 | $60 | Largest current Kalshi bonus |
| Standard Kalshi offer | Standard offer | Trade $25 | $55 | $5 less |
| Standard Kalshi offer | Standard offer | Trade $25 | $25 | $35 less |
SI60 also gives you $60 in trading credits without increasing the $25 trading requirement, so there's little reason to settle for the smaller offer if you're eligible for SI60.
When you claim the $60 offer, you'll have 30 days to complete $25 in qualifying trades. Eligible NFL markets, including trades on NFL Week 2, can count toward that requirement, including game winners, spreads, totals, and player markets. Once you meet the offer requirements, you'll receive the $60 Kalshi bonus.
Kalshi promo code SI60 quick facts:
- 🎁 Welcome bonus: $60 - the largest current Kalshi offer available
- 💰 Fixed offer: Every eligible new user who qualifies receives $60
- 🎁 Bonus value: 240% bonus-to-trade value: Trade $25, get $60
- 🏦 Minimum deposit: $10
- ✅ Trading requirement: Settle at least $25 in qualifying trades within 30 days
- 📈 Eligible markets: Complete your qualifying trades on available Kalshi prediction markets
- ❓ Can I split the $25 trade requirement? Yes. You can complete the $25 trading requirement across multiple qualifying trades; you don't need to place one $25 trade.
- ⚠️ New users only: You must be a new Kalshi user to qualify
🏈 Can you use the Kalshi promo code on Colts vs. Chiefs this week?
Yes, use Kalshi promo code SI60 to get the enhanced $60 bonus for NFL trading during Week 2, which is 140% bigger than the previous standard $25 Kalshi offer. All you need to do is complete the $25 qualifying trade requirement across eligible Kalshi markets, including NFL prediction markets.
Here's a look at the current Kalshi game-winner prices for Lions vs. Bills on Thursday Night Football, where more than $7.1 million in trading volume has already been generated ahead of tonight's kickoff:
- Indianapolis Colts: Yes ($0.28); No ($0.73)
- Kansas City Chiefs: Yes ($0.73); No ($0.28)
Prices and volume checked on Sept. 19, 2026. Kalshi prices and trading volume can change quickly as traders enter the market and kickoff approaches.
Kalshi also offers NFL markets for spreads, totals, player props, combos, and season-long futures. This gives new users several ways to work toward the
🔍 SI tested: Does Kalshi promo code SI60 actually work?
The fixed structure of the exclusive Kalshi $60 free bonus means there's no random amount or uncertainty about how much you'll receive.
Every eligible new user who meets the promotion requirements and uses the SI60 code gets the same enhanced $60 bonus, which is $5 more than the standard $55 offer and $35 more than the standard $25 offer.
Our experience: Several team members claimed the current offer, met the $25 trading requirement, and received the advertised $60 bonus.
| What we tested | SI result |
|---|---|
| Kalshi Promo code | SI60 |
| Minimum deposit | $10 |
| Required trades | $25 settled |
| Bonus received | $60 trading credit |
| Time to receive bonus | Immediately after $25 in qualifying trades settled in our test |
| Did trades need to win? | No |
| Number of trades required | No single $25 trade required; the $25 can be completed within 30 days across multiple qualifying trades |
| Tested by | Geoff Ulrich + Kyle Collis |
| Last tested | September 18, 2026 |
In our test, I cleared the requirement with a single $25 NFL trade, but you can complete the $25 requirement across multiple qualifying trades. After we completed the $25 in trades, the bonus immediately hit our account, and we could trade with it; no further action was required.
Ryan Hagen tested Kalshi's previous randomized promotion, which awarded bonus credit ranging from $15 to $500. Ryan received $35, which only 24% of users received. Notably, 70% of users received $15 in bonuses under the old bonus structure.
The current Kalshi $60 welcome offer has no uncertainty and is currently the largest Kalshi offer available to new users, and $10 more than similar offers. Complete the qualifying requirements, and you'll receive the same $60 bonus that Geoff and I received.
Kalshi promo code pros and cons
Pros
- ✅ Guaranteed $60 bonus for eligible users with promo code SI60
- ✅ Only a $10 minimum deposit required to get started
- ✅ You have 30 days to complete $25 in trades and unlock the free $60 bonus
- ✅ 240% bonus-to-trade value: Trade $25, get $60 in trading credits.
Cons
- ✖️ You must settle $25 in qualifying trades before receiving the bonus
- ✖️ Bonus credit isn't the same as withdrawable cash
Kalshi promo code terms and conditions
The Kalshi SI60 sign-up offer is a straightforward prediction market promo that includes a fixed-amount bonus worth $60, the largest Kalshi sign-up bonus for NFL. Since you receive $60 after making just $25 in trades, it's also equivalent to a 240% bonus-to-trade value.
Like any prediction market sign-up offer, the Kalshi $60 bonus comes with terms and conditions that traders and new users must meet to unlock the full value.
Knowing these terms and conditions will help you claim the promo faster and ensure you get the most value when it's time to use your bonus funds. We've broken down a point-by-point list of the most important terms of the Kalshi offer for new users to know before signing up:
- Eligibility: You must be 18 or older and a new Kalshi prediction markets user to qualify for the welcome offer.
- Current Kalshi promo code: Enter SI60 during registration to qualify for the $60 bonus.
- Account verification: You must complete registration and identity verification (KYC), which may require a government-issued ID and a selfie.
- Minimum deposit: Deposit at least $10 into your new Kalshi account.
- Qualifying trades: Settle at least $25 in qualifying trades within 30 days of signing up to earn the $60 Kalshi welcome bonus.
- Bonus amount: Every eligible new user who completes the promotion requirements receives $60 in Kalshi trading credits.
- Bonus payout: The $60 bonus is credited to your Kalshi account after you complete the qualifying requirements and can be used on eligible prediction markets.
- Trade results: Your qualifying trades do not need to win to earn the bonus. Eligibility is based on completing the required trades, not their outcomes.
After you sign up and claim the Kalshi welcome offer, you'll be free to use the site and your bonus funds for event trading across sports, politics, culture, and more.
| Kalshi promo code official terms and conditions | *Certain limitations apply. The offer is available to new users only. 18+ only. Restrictions and eligibility requirements apply. Event contract trading involves significant risk and is not appropriate for everyone. Please carefully consider if it is appropriate for you in light of your personal financial circumstances. Kalshi products are not available in all jurisdictions. See http://kalshi.com/regulatory for more information. |
How do you claim the Kalshi promo code?
Claiming the Kalshi new-user bonus with code SI60 is straightforward and mirrors how most regulated trading platforms onboard new users. SI60 unlocks a $60 bonus when you trade $25, making it the largest Kalshi welcome offer currently available and $35 more than some of the other standard Kalshi bonuses.
To claim the offer, I tapped one of our SI-verified links, which took me to the correct landing page for new sign-ups. After following the prompts and entering the Kalshi promo code SI60, I verified my account and could immediately trade sports, elections, and financial markets on Kalshi.
You can follow the same steps I did for a similar hassle-free sign-up experience.
1. Create an account
When I claimed the Kalshi promo, I entered the Kalshi bonus code SI60 during registration. The sign-up and identity-verification process was straightforward, and I was ready to fund my account within a few minutes.
You'll start by registering for a Kalshi account through the platform's sign-up page, which you can access via the links on this page. You'll also enter your email, mobile number, Social Security Number (SSN), and residential address.
2. Verify your identity
As a regulated exchange, Kalshi requires identity verification before you can trade. This Know Your Customer (KYC) verification process may include confirming your date of birth, address, and identity by submitting a photo of government-issued identification, such as a driver's license or passport.
These checks are standard across compliant financial and trading platforms.
3. Fund your account
Once verified, you'll need to add funds to your Kalshi wallet. Kalshi supports multiple payment methods, including debit cards and cryptocurrencies, and the SI60 welcome offer requires a minimum $10 deposit.
I deposited enough to complete the $25 trading requirement and unlock the full $60 bonus. I used PayPal, a supported Kalshi payment option, and was able to deposit USD funds into my account immediately.
4. Complete $25 in qualifying trades
After funding your account, you can trade available Kalshi markets, including sports event contracts. Complete $25 in qualifying trades within 30 days to earn the $60 Kalshi bonus. You can also meet the $25 requirement across multiple qualifying trades rather than in a single $25 position.
I decided to clear the requirement in one trade by placing $25 on a simple NFL moneyline game outcome. When the trade settled, Kalshi credited the full bonus to my account. That gave me a fixed $60 reward — 140% larger than some of the standard Kalshi welcome bonuses — which I then used to try trading on real-world event markets.
Overall, I found that Kalshi's exchange-style pricing delivered exactly what it promised as one of the best prediction market apps, eliminating the traditional sportsbook vig, so wins were paid without a reduction for bookmaker margins.
You can then use the Kalshi referral code to start earning bonuses by inviting your friends.
What is Kalshi and how does it work?
Kalshi is a regulated prediction market platform where you trade 'Yes' or 'No' contracts tied to real-world events, such as sports outcomes or presidential elections. Contract prices range from $0 to $1 and reflect the market's likelihood of an outcome.
For example, a contract trading at 11¢ implies the market believes there is roughly a 11% chance of that outcome occurring.
Unlike sportsbooks, predictions on Kalshi don't use fixed odds or involve taking the other side of a bet. Prices are determined in a peer-to-peer marketplace, and users trade directly with one another using U.S. dollars under federal regulation. This structure offers an alternative to traditional betting apps, where bettors only have access to bookmaker prices that include vig, the fee a sportsbook charges for accepting your wager.
How does prediction market trading on Kalshi work?
It’s important to note that the price of a Kalshi prediction contract is not fixed. Market prices are dynamic, fluctuating between 1 cent and 99 cents, reflecting the market's perceived probability of a specific event.
Contract prices reflect traders' collective opinion and represent the implied probability of a 'Yes' or 'No' outcome.
- If a 'Yes' contract is priced at $0.70, the market believes there's a 70% chance the event will happen. The 'No' contract would be priced around $0.30.
- When an event settles, each winning contract pays $1, and each losing contract expires at $0.
- Your profit is the difference between the $1 payout and your purchase price, minus trading fees.
Example:
I bought 100 contracts on Kalshi predictions at $0.70 each that the Boston Celtics would win their game against the Los Angeles Lakers. This cost me $70 in total.
The Celtics went on to win the game, and each contract settled at $1.00. I received a $100 payout, which included my original $70 stake plus a $30 profit.
For a more detailed breakdown, make sure to check out our prediction market guide.
Is Kalshi legal?
Kalshi is a federally regulated prediction market in the U.S., but its legal status is more complicated than that of a traditional sportsbook. Kalshi is registered as a Designated Contract Market (DCM) and regulated by the Commodity Futures Trading Commission (CFTC) under federal commodities law.
Kalshi does not operate under the same state sportsbook licensing system as DraftKings, FanDuel, and other traditional betting operators. Instead, Kalshi maintains that its event contracts, including sports markets, fall under federal CFTC oversight. Several states and gaming regulators dispute that interpretation and argue that sports event contracts can still be subject to state gambling laws.
That disagreement has produced conflicting federal court decisions. The Third Circuit sided with Kalshi in its New Jersey case, finding that the company was likely to succeed on its argument that federal commodities law preempts New Jersey's regulation of its sports contracts. However, on Aug. 28, 2026, the Ninth Circuit reached the opposite conclusion in Kalshi's Nevada case, ruling that Kalshi had not shown that federal law preempts Nevada's gaming regulations as applied to sports event contracts.
Kalshi continues to offer event-contract trading in many states, including states without legal online sportsbooks such as California sports betting, Georgia sports betting, and Texas sports betting. However, availability is no longer uniform nationwide, and users should check which Kalshi markets are currently available in their state.
In August, a federal appeals court ruled that Nevada can likely enforce its gambling laws against Kalshi's sports markets — and that same court hears cases from other western states, including California. On Sept. 2, New Jersey filed a petition asking the Supreme Court to review the Third Circuit's ruling and determine how far states can regulate sports contracts offered on federally regulated prediction markets. Kalshi also petitioned for rehearing of the Ninth Circuit decision on Sept. 9.
As of September 2026, no single nationwide court ruling has conclusively resolved that dispute, so rules can differ from state to state. We'll update this page as new rulings occur.
Where the courts stand (updated September 2026)
Courts have split on whether states can regulate Kalshi's sports markets. Here's the 2026 scorecard so far:
| Court (state) | Date | Who it sided with | What it means |
|---|---|---|---|
| Federal court (Tennessee) | Feb. 19, 2026 | Kalshi | Tennessee blocked from enforcing its gambling laws for now |
| Federal court (Ohio) | Mar. 9, 2026 | Ohio | Kalshi’s request to stop Ohio was denied |
| Appeals court (New Jersey) | Apr. 6, 2026 | Kalshi | New Jersey blocked from enforcing its gambling laws for now |
| Appeals court (Ohio) | Apr. 24, 2026 | Ohio | Upheld the March ruling against Kalshi |
| Federal court (Arizona) | May 5, 2026 | Kalshi | Arizona blocked from enforcing its gambling laws for now |
| Federal court (New York) | July 13, 2026 | New York | Kalshi’s request to stop New York was denied |
| Federal court (Minnesota) | July 27, 2026 | Kalshi, CFTC & Poly |
Kalshi state guides
Kalshi is available in most of the U.S., but several states are fighting its sports markets in court, and access can change quickly. Check Kalshi's regulatory page for the latest list before you sign up.
Kalshi platform overview
Kalshi’s prediction market platform centers on trading event-based contracts, with pricing driven by market activity rather than fixed odds. You can enter and exit positions, view transparent pricing before each trade, and access markets across sports-related outcomes, politics, economics, and culture, all with the help of the SI60 Kalshi welcome bonus, which lets you earn $60 in bonus credits.
Trading fees are also displayed upfront and tied to trading activity, helping you understand costs before committing funds.
- ⭐ Bonuses and promotions: 4.9/5
- ⭐ Market variety: 4.9/5
- ⭐ Market liquidity: 4.8/5
- ⭐ Resolution reliability: 5.0/5
- ⭐ User experience: 5.0/5
- ⭐ Fees and limits: 5.0/5
- ⭐ Deposits and withdrawals: 4.9/5
⭐ Overall Rating: 4.9/5
Our Kalshi rating is based on extensive hands-on testing, real-money trades, and a detailed evaluation of the platform. Read our complete Kalshi review to see our full analysis.
💡Why we rate liquidity highly: Federal Reserve researchers note that Kalshi allows up to $7 million of exposure per market, uses professional market makers such as Susquehanna, and is also available through brokerages like Robinhood and Webull.
Key features at a glance
🧩 Kalshi Combos
Kalshi Combos let you group multiple event outcomes into a single trade, similar in concept to a sportsbook parlay. Each combo’s payout is based on how every leg resolves, with partial resolutions factored into the final settlement.
Kalshi's built-in combo builder makes it easy to assemble and lets users choose from the industry's largest selection of player props. This enables great same-game combo building within the Kalshi app and is a big reason Kalshi ranks first on our list of the best prediction market platforms for combos.
Combos are higher-risk by design but allow you to express more specific, multi-outcome views within a single position.
🏈 Kalshi NFL player prop markets
Kalshi offers player-specific sports markets, allowing you to trade contracts tied to individual performances, such as scoring outcomes (touchdowns), passing yards, and receptions. These markets apply to NFL games and to sports such as basketball (NBA) and baseball (MLB), expanding Kalshi’s sports coverage beyond team results and offering more granular ways to engage with major leagues.
📈 Kalshi live event trading
While contracts resolve based on final outcomes, Kalshi allows you to trade positions while an event is active. This gives you flexibility to react to new information, adjust exposure, or lock in gains before an event concludes. That alone makes it a top option for consistent MLB traders who have access to hundreds of regular-season game markets every day.
🖥️ Kalshi Pro trading terminal
Kalshi Pro is a professional desktop trading platform that is now in beta and free to try on the site. It's built for active prediction market traders and features powerful market scanners to identify new trading opportunities, fully customizable multi-market layouts, and advanced order management that lets you place and manage multiple open orders simultaneously.
Does Kalshi have a promo code?
Yes, you can use the best Kalshi new user bonus code SI60 during registration to claim the platform's best available welcome offer. New traders who sign up with SI60 and trade $25 or more will earn a $60 bonus. I tested the offer myself and unlocked the bonus within minutes of completing $25 worth of trades.
Who is Kalshi best suited for?
Kalshi is best suited for users interested in forecasting real-world outcomes through a market-based model. That includes me as a sports fan who enjoys tracking games through a more analytical lens, along with data-driven users who follow trends and probabilities, and traders focused on politics, policy, or major news events.
It appealed to me because I like analyzing information over time and adjusting positions as new data becomes available. The platform works well for that kind of flexible, information-driven approach. Those who prefer simple win-or-lose bets, large promotional bonuses, or traditional parlays may find standard sportsbooks a better fit.
What’s trending on Kalshi
Sports have become Kalshi's biggest draw, accounting for 80% of the platform's total trading volume since July 2024, according to a Pew Research Center analysis. That makes the NFL an especially important part of Kalshi's growing sports marketplace as the 2026 season gets underway.
NFL markets to trade with the Kalshi promo code this week
Week 2 of the NFL season continues on Sunday, giving new users plenty of ways to meet the $25 trading requirement for Kalshi promo code SI60. Kalshi offers NFL game winners, spreads, totals, player props, combos, and season-long futures, including NFL MVP and championship markets.
| Trending Kalshi NFL market | Current Kalshi probability | Market type |
|---|---|---|
| Bears to beat Vikings | 69% | Game winner |
| Panthers to beat Falcons | 53% | Game winner |
| Patriots to beat Steelers | 68% | Game winner |
| DeVonta Smith 60+ receiving yards | 52% | Player prop |
Kalshi's NFL markets go beyond picking game winners. When you tap into a specific game, you'll find more markets for player props, fantasy points, and more.
New users can put eligible NFL trades toward the $25 in settled trades required to earn $60 with the SI60 bonus. You can also spread the $25 requirement across multiple qualifying trades instead of completing it with a single $25 position.
Kalshi prices checked Sept. 18, 2026. Prediction market prices can change at any time.
🏈 2027 NFL Champion Markets on Kalshi
The Buffalo Bills have overtaken the Rams as the favorite to win it all on Kalshi. The market has already seen over $116M traded on Super Bowl futures on Kalshi.
Trading volume: $116M as of 10:40 AM ET Sept. 18, 2026
💡 Good to know: Sports aren't just another category on Kalshi. They have accounted for 80% of the platform's trading volume since July 2024, far ahead of crypto (7%) and politics (4%), according to Pew Research Center. That helps explain why Kalshi now offers such a deep selection of NFL game winners, spreads, totals, player markets, and futures.
🔥Other prediction markets trending today
Additionally, you can find MLB, WNBA, PGA, and more. Check out the hottest markets today.
⚾ MLB: Minnesota Twins vs. Los Angeles Angels
| Player | Kalshi moneyline |
|---|---|
| Twins | 51% |
| Angels | 49% |
Trading volume: $40K as of 10:40 AM ET Sept. 18, 2026
🏀NBA: 2027 NBA Champion
The two favorites for the NBA Championship, the Spurs and Thunder, are in the Western Conference, while LeBron James' new team, the 76ers, sits third.
Trading volume: $28M as of 10:30 AM ET Sept. 18, 2026
Kalshi fees, limits, and withdrawals
Kalshi’s platform operates like a regulated prediction market, with costs and restrictions tied to trading mechanics rather than fixed sportsbook odds. Understanding fees, position limits, and withdrawal rules can help you plan trades and manage funds effectively.
💸 Trading fees
Kalshi charges variable transaction fees instead of building costs into the odds (often called the “vig” at sportsbooks). Fees are shown upfront and depend on how your order is filled. Taker fees, which apply when a trade is immediately matched, typically range from about $0.07 to $1.75 per contract, while maker fees for orders that add liquidity to the market are lower, generally $0.02 to $0.44 per contract. Fees tend to be highest for evenly priced markets (around $0.50) and lower for contracts priced near the extremes.
📊 Trading limits
Markets on Kalshi may have trading caps or position limits that vary depending on liquidity. Low-liquidity markets can produce less stable pricing, while high-liquidity markets allow more predictable trading outcomes. You should review individual market rules before committing significant funds.
💳 Kalshi payment methods
Kalshi supports several funding and withdrawal options, though availability is currently limited. Cryptocurrency payments in USDC carry no fees, while Visa and Mastercard transactions may incur a $2 fee per transaction.
| Payment method | Minimum deposit | Deposit speed | Minimum withdrawal | Withdrawal speed |
|---|---|---|---|---|
| Debit card | $10 | Instant | $10 | Within 30 mins |
| Online banking | $10 | Instant | $10 | Within 30 mins |
| Wire transfer | $1,000 | Instant | N/A | N/A |
| Crypto (USDC) | $10 | Instant | $10 | Within 30 mins |
Withdrawals are processed according to the selected payment method and are subject to standard verification procedures. You should allow time for identity verification and fund transfer when planning to move money off the platform.
Kalshi app experience
Kalshi is one of the top mobile trading apps, and built for users who want to trade prediction markets directly from their phone. I used the Kalshi app to access available markets, open positions, account balances, and trade history, which made it easy to manage activity without switching to a desktop platform.
From a usability standpoint, the app focuses on clarity and speed. I found that markets are clearly labeled, contract pricing is easy to follow, and placing a trade only takes a few taps. Switching between sports-related markets and other event categories is seamless, making it easy for me to react quickly as prices move.
Kalshi is available on major mobile app stores, giving me a native app experience rather than relying solely on a mobile browser. Overall, I found the app delivers a streamlined, user-first experience that works well whether I’m casually checking markets or actively monitoring them throughout the day.
App Store: 4.8/5 ⭐ 511K reviews
Google Play: 4.7/5 ⭐ 110.5K reviews
Kalshi vs. traditional sportsbooks
Although Kalshi lets you trade on sports outcomes, its prediction markets work differently from a traditional sportsbook. Instead of betting against the house at fixed odds, you're buying and selling event contracts whose prices can change as traders enter and exit the market.
Prediction markets have also grown significantly in size. Kalshi and Polymarket generated nearly $24 billion in combined global trading volume in April 2026, according to Pew Research Center. For comparison, legal U.S. sportsbooks averaged around $14 billion in monthly wagers during 2025. Sports are particularly important to Kalshi, accounting for 80% of its trading volume since July 2024.
📈 Prediction Market Contracts vs. Sports Betting Odds
| Traditional sportsbooks | Kalshi prediction markets |
|---|---|
| Fixed betting odds when your wager is placed | Dynamic contract prices that move as users trade |
| Sportsbook sets the odds | Market participants determine prices through supply and demand |
| Odds include the bookmaker's margin (vig) | No traditional sportsbook odds or built-in vig; trading fees can apply |
| Bet is generally locked after placement | You can buy, sell, or close positions before settlement |
| Potential cash-out depends on the sportsbook | Exit your position by trading at the available market price |
| Usually 21+ | 18+ |
| Regulated by state or tribal gaming authorities | Federally regulated by the CFTC as a Designated Contract Market |
| Sportsbook revenue is generally subject to state gaming taxes | Kalshi is not licensed or taxed as a sportsbook by individual states |
| Complaints generally go through the operator and applicable state/tribal regulator | Start with Kalshi support; it is not licensed by state gaming regulators |
🔄 How Kalshi prediction market pricing works
Every Kalshi contract trades between $0.01 and $0.99, representing the market's current estimated probability of an outcome occurring.
For example:
- 🟢 Contract trading at $0.72 = roughly a 72% implied probability
- 🔴 Contract trading at $0.28 = roughly a 28% implied probability
- 📈 Prices rise as the market becomes more confident.
- 📉 Prices fall as confidence decreases.
Because prices update continuously, traders can react to injuries, breaking news, weather, or live game developments before an event is settled.
🤝 Peer-to-Peer market structure
Unlike traditional sportsbooks, Kalshi doesn't take the opposite side of your trade.
Sportsbooks
- 🏦 You bet against the bookmaker.
- 🎯 The sportsbook sets prices and manages its own risk.
- 💰 Revenue comes primarily from the built-in betting margin.
Kalshi
- 👥 You trade directly with other market participants.
- 📊 Contract prices are determined by supply and demand.
- ⚖️ Kalshi operates the exchange and matches buyers with sellers rather than acting as the counterparty.
One nuance: Kalshi, the exchange, doesn't bet against you, but the trader on the other side is often a professional market maker. A 2026 federal appeals court opinion noted that Kalshi Trading, a Kalshi affiliate, has acted largely as a market maker on the exchange.
⭐ Why traders prefer Kalshi
- ⚡ Trade sports prediction markets instead of placing fixed bets.
- 📈 Enter or exit positions before markets settle.
- 💵 Transparent pricing based on market probability.
- 🔄 Respond to breaking news as prices update in real time.
- 🏛️ Trade on a CFTC-regulated prediction market exchange.
You can read our prediction markets vs. sports betting guide for a deeper look at how both products are structured.
Kalshi vs. other prediction market platforms
| Kalshi | Polymarket | Novig | ProphetX | |
|---|---|---|---|---|
| Welcome bonus | Trade $25, get $60 bonus | Deposit $10, get $50 bonus | Deposit $10, Get $25 | Trade $50, Get $75 |
| Promo code | SI60 | SIBONUS | SIBONUS | SICOM |
| Bonus type | First trade and get | Deposit bonus | Deposit bonus | First trade and get |
| Top feature | Top-rated trading app | Legal trading on real-world events | No-vig sports trading | Sports parlays |
| Payout speed | Within 30 minutes | Instant | Within minutes | Within 24 hours |
| Min. deposit | $10 | $10 | $10 | $10 |
| App Store rating | 4.8/5 ⭐ | 4.6/5 ⭐ | 4.6/5 ⭐ | 4.8/5 ⭐ |
Kalshi vs. Polymarket
The Polymarket promo code offers a $50 welcome bonus after a $10 deposit and includes some of the largest, most liquid prediction markets, as detailed in our Polymarket review. The Kalshi welcome offer requires an extra step — completing $25 in qualifying trades — but pays a $60 bonus.
For a more detailed breakdown between these two platforms, read our Kalshi vs. Polymarket page and check out the Polymarket referral code page to learn how you can earn bonuses by inviting new users to the platform.
Kalshi vs. OG
The OG promo code is geared more toward sports-focused traders who want social and community-style features alongside prediction markets. Kalshi offers a simpler platform experience and a lower barrier to entry, with a welcome offer that offers significantly more upside ($60 vs. $10), making it a better fit for casual users who want to start trading quickly.
Kalshi vs. Underdog
The Underdog promo code offers a much larger potential bonus, matching 50% of your first deposit up to $1,000 in bonus entries. Kalshi's welcome bonus is easier to unlock with a smaller commitment.
Kalshi vs. FanDuel Predicts
You can claim the FanDuel Predicts promo code and get $100 in bonuses. This is larger than the amount Kalshi offers, but you have to trade $1 a day for five days on FanDuel Predicts. That gives you a $20 bonus each day.
Kalshi vs. ProphetX
The ProphetX promo code offers new users a strong alternative to prediction market platforms, with a 'Trade $50, get $75 bonus' offer that requires you to complete $50 worth of trades. The Kalshi $60 offer remains the largest Kalshi offer available and requires less upfront investment, making it a strong alternative to ProphetX despite ProphetX's larger bonus.
Kalshi vs. Novig
The Novig promo code offers a more straightforward promotion: eligible new users deposit $10 and receive $25 in bonuses, issued as five $5 trade credits. No qualifying trade is required to unlock the bonus. However, Kalshi's offer provides considerably more upside ($60 vs. $25) and flexibility, with the bonus not awarded in $5 increments.
Kalshi vs. Plus500
The Plus500 promo code gives new users a $20 bonus after they complete at least $10 in qualifying Prediction Market trades and those contracts settle. Kalshi offers the larger welcome bonus at $60, but it requires $25 in qualifying trades.
Kalshi vs. other prediction sites
Looking for a platform that combines prediction markets with cryptocurrency trading? The Crypto.com referral code gives users access to both event trading and one of the world’s largest crypto exchanges.
The Gemini Predictions promo code is another great options with plenty of market variety.
Alternatively, if you like the idea of a sports exchange that lets you set your own odds, check out our apps like Novig page for more information.
For stock traders that are looking to expand into sports and real-world trading, our apps like Robinhood prediction market page is one you'll want to explore.
Additionally, while there isn't a welcome offer available yet, you can join the waitlist for the ROLR prediction market promo code.
You can read our apps like Kalshi or apps like Polymarket page for more details on other prediction market platforms that rival our top two prediction market apps.
Market access and trading options on Kalshi
Kalshi provides access to a broad array of prediction markets that let you trade contracts based on the outcomes of real‑world events. Markets are grouped into topic categories so you can explore areas that match their interests and expertise, with each contract resolving according to clear, predefined rules.
Types of event categories on Kalshi include:
- 🏈 Sports: Trade prediction markets on game winners, player props, championships, futures, and other major sporting events. For football fans, Kalshi is our top NFL prediction market app.
- 🗳️ Politics: Predict election results, legislative outcomes, government actions, and other political events.
- 📈 Economics: Trade contracts on inflation, interest rates, employment reports, GDP, and other key economic indicators.
- 🎬 Entertainment & Culture: Predict award winners, TV and movie outcomes, celebrity news, and major cultural events.
- 🌦️ Weather & Climate: Trade markets on hurricanes, temperatures, rainfall, natural disasters, and other measurable weather events.
- 🤖 Technology & Science: Predict AI developments, space exploration, scientific breakthroughs, and major technology news.
- 💼 Finance & Companies: Trade markets tied to company earnings, stock-related events, cryptocurrency, and broader financial markets.
- 🌍 World Events: Predict the outcomes of breaking news, international developments, geopolitical events, and other global stories.
Each category may contain dozens or hundreds of individual contracts that update in real time and are priced between $0 and $1 based on market sentiment.
Because regulatory interpretations vary by jurisdiction, some markets, particularly sports‑related ones, may be restricted or unavailable in certain states. Where relevant, Kalshi will disclose any regional limitations directly on the platform or during account setup.
If you want to see how Kalshi's real-world and sports marketplaces stack up against one of the best political prediction markets, check out our Kalshi vs. Predictit page for more information and a comparison of these two platforms.
Risk awareness and responsible trading on Kalshi
Kalshi involves real financial risk, and an incorrect prediction can result in losing the full amount paid for a contract. A 2026 Ipsos survey found that 91% of Americans familiar with prediction markets consider event contracts financially risky.
Research into more than 300,000 Kalshi contracts also found that contracts priced below 10¢ lost more than 60% of their value on average, highlighting the added risk of low-probability longshots.
Tips for responsible trading:
- 💰 Only trade money you can afford to lose.
- 📊 Don't assume a cheap contract represents good value.
- 🛑 Use Kalshi's trading limits, breaks, and self-exclusion tools.
- 💸 Consider potential trading fees before opening a position.
In May 2026, Kalshi committed $2 million over two years to the National Council on Problem Gambling (NCPG) to support trader health and safety initiatives. If trading becomes difficult to control, call or text 1-800-MY-RESET for free, confidential, 24/7 support.
Kalshi customer support and account help
Kalshi offers several support options to help you with account setup, verification, funding, and general platform questions. While availability varies by channel, the most common issues can be resolved through Kalshi’s on-site resources or by contacting the direct support team.
Here’s a quick look at the available options:
💬 Live chat: 8:00 AM ET to 3:00 PM ET; access may require a funded account.
📩 Email: support@kalshi.com
📞 Phone: 332-205-9910
𝕏 Social: @Kalshi
❓ Kalshi FAQs: Tap here
Most user questions relate to identity verification, funding requirements, contract settlement timing, and promo eligibility, all of which are addressed in Kalshi’s help resources.
Latest Kalshi updates
Sept. 2, 2026: New Jersey filed a petition asking the U.S. Supreme Court to review a federal appeals court ruling that favored Kalshi and found that the CFTC has exclusive jurisdiction over its sports event contracts. The state argues that it should retain authority to apply its sports wagering laws to prediction markets. The Supreme Court has not yet decided whether it will hear the case.
Aug. 28, 2026: Kalshi loses major Nevada appeals court ruling as a federal appeals court ruled that Kalshi cannot block Nevada regulators from overseeing its sports prediction markets. The decision conflicts with an earlier Third Circuit ruling involving New Jersey, increasing the possibility that the federal-versus-state prediction market dispute could eventually reach the Supreme Court.
July 14, 2026: The CFTC ordered Kalshi not to reverse Michigan users' trades despite a state court order, arguing that federal regulators—not individual states—have authority over CFTC-regulated prediction markets.
June 29, 2026: A Michigan judge issued a temporary restraining order requiring Kalshi to stop offering sports event contracts in the state until at least July 13, pending further court proceedings.
June 8, 2026: Sportradar and Kalshi announce a multi-year partnership, making Sportradar the official sports data and infrastructure provider for the prediction market platform.
Jan. 21, 2026: A Massachusetts judge rules that Kalshi cannot offer sports-prediction contracts in the state without a proper license, marking a high-profile regulatory challenge for the platform.
Jan. 14, 2026: Kalshi secures its first professional athlete partnership, teaming up with two-time U.S. Open champion Bryson DeChambeau.
Dec. 4, 2025: Kalshi signs a multi-year deal with CNBC to integrate real-time prediction market data into TV broadcasts and digital platforms beginning in 2026.
Oct. 23, 2025: PrizePicks launches a prediction markets offering powered by Kalshi through a multi-year partnership, expanding Kalshi’s footprint in sports entertainment.
Kalshi promo code FAQs
Yes, the current Kalshi promo code is SI60, which unlocks a $60 new-user bonus, the largest sign-up bonus available at Kalshi for NFL trading right now. Enter it during sign-up, make a qualifying deposit, and settle $25 or more in trades to unlock the offer.
New users can claim the $60 Kalshi bonus by signing up with Kalshi promo code SI60, depositing at least $10, and completing $25 in qualifying trades. While standard Kalshi promo codes offer a $25 bonus, SI60 gives you $60 in trading credits for the same $25 trading requirement, making the bonus 140% more lucrative. Once you qualify, Kalshi credits $60 free to your account to use on eligible prediction markets.
New Kalshi users can receive a $25 trading bonus through some of the eligible standard promo or referral offers. However, when you use the Kalshi promo code SI60, you'll get the enhanced $60 offer on Kalshi after completing $25 in qualifying trades, which is $35 more than the standard $25 offer and the largest welcome bonus currently available.
You can use the current Kalshi promo code SI60 when creating a new account to claim the current Trade $25, Get $60 welcome offer. Just copy and paste the code from our page, or enter SI60 during registration, complete identity verification, deposit at least $10, and settle $25 or more in qualifying trades to receive the $60 Kalshi bonus.
Yes, in addition to its Kalshi promo code for new users, Kalshi offers trading rewards on select prediction markets through its Volume and Liquidity Incentive Programs. These promotions can reward existing users for actively trading eligible contracts or providing liquidity by placing orders on the order book. Eligible markets are marked with a Rewards badge, and the available reward pool and promotion period can vary by market.
Yes, Kalshi is legit and considered safe for new users who need to provide a Social Security Number (SSN) when signing up. Operating as a federally regulated prediction market overseen by the CFTC, Kalshi requires identity verification (KYC) and uses regulated clearing and market-surveillance systems to protect users and market integrity. Trading still involves risk, as incorrect predictions can result in losses.
Kalshi is a regulated U.S. platform operating as a Designated Contract Market (DCM) under the Commodity Futures Trading Commission (CFTC). It is available in many parts of the U.S., but access can vary by state due to ongoing regulatory reviews.
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