Kalshi Promo Code April 2026

Best Kalshi sign up bonus offers for new users

While Kalshi’s prediction market platform launched fives years ago, its sports category is still relatively new. As a result, it typically offers fewer markets and promotions than traditional betting sites like DraftKings or BetMGM. Still, Kalshi continues to surge in popularity, with new markets added regularly.

Kalshi tends to spotlight its promotions around major sports events, such as the World Cup or Super Bowl (Big Game), alongside its $10 welcome bonus. 

Unlike sportsbooks, Kalshi promos apply to trading positions rather than wagers, which changes how promo credits work.

Does Kalshi have a welcome bonus?

$10 Bonus

Code: COVERS

Claim $10

Yes — you can register today and get a $10 bonus. Simply sign up with code 'COVERS,' then make an initial deposit of at least $1. From there, you're free to peruse Kalshi's numerous markets and real-world event contracts, whether in sports or another category, such as politics or culture, making it one of the country's best prediction markets in 2026. You'll need to trade at least $10 in these contracts to unlock the $10 reward.

Kalshi promo code terms and conditions

Typing in the Kalshi promo code 'COVERS' during registration will unlock the new-user reward. However, it's worth noting that there are some other key terms and conditions attached to the bonus — we've broken them down for you here:

• You can claim the Kalshi promo in all states
• Make sure you are physically present in an eligible location.
• To trigger the offer, you must sign up with Kalshi bonus code 'COVERS.'
• You must provide proof of ID when registering. This includes a photo of drivers license or passport along with an accompanying selfie holding that ID.
• Make an initial deposit of $1 or more and trade at least $10 in event contracts.
• No matter the results of your trading, you will receive a $10 bonus.
• The Kalshi promo code offer is ongoing.

Claim Kalshi bonus

Kalshi promo comparison

	Kalshi	Polymarket	Novig
Compare	Pin	Pin	Pin
Welcome bonus	$10 Bonus	Up to $100 Bonus + Win $1K in Masters Prizes	5 Novig Cash + 10% off up to $100
Promo code	COVERS	COVERS	COVERS100
Bonus type	Trade and get	First trade match	No deposit offer
Bonus form	One (1) $10 bonus	$20 trading bonus	$100 bonus & five Novig Cash
Payout speed	Within 24 hours	Within 24 hours	Within 24 hours
Min. deposit	$1	$10	$5
Covers BetSmart Bonus Rating	⭐ 4.2/5	⭐ 4.2/5	⭐ 4.6/5

Kalshi promo code summary for this week

	Kalshi
Kalshi sign-up bonus	$10 Bonus
Kalshi promo code	COVERS
Top feature	Legal sports trading
Minimum deposit	$1
Eligible states	All states + DC (excluding Nevada)
Legal age	18+
Kalshi mobile app	iOS & Android
Offer expiry	Ongoing

How to get $10 Kalshi bonus?

Before you can take advantage of the Kalshi sign-up bonus, you must sign up for an account, which is an easy process that only takes a few minutes. Follow the steps below to get started:

1. Sign up and verify

To begin, you'll need to register with Kalshi. Navigate to the platform's 'Sign Up' button and ensure you enter the Kalshi promo code 'COVERS.' This will allow you to start creating an account on the site.

You must provide personal information to complete the registration process, such as your date of birth, phone number, and location. Kalshi may also ask you to verify your Social Security Number (SSN) and a form of ID.  This could be a photo of your driver's license or passport, along with an accompanying selfie to confirm that it's you. You will receive an email requesting this information if it is required. 

These are standard Know Your Customer (KYC) protocols implemented across all betting sites. They are put in place to make the site more secure by verifying each user's identity and creating a legitimate platform. It's a simple process that only takes a few minutes.

2. Deposit

Next up is adding funds to your account. In your Kalshi wallet, click the 'Deposit Cash' button at the top of the screen, then select your preferred payment method. Enter your desired deposit amount and confirm the transaction. Several options are available to you, making the payment process more convenient.

Remember: The minimum deposit required to activate the Kalshi bonus is $1. However, to receive the $10 reward, you'll need to trade $10 worth of contracts. It's a good idea to maximize this offer because it gives you the most value out of the bonus.

3. Trade

Now you can start trading. Click on the 'Sports' tab in the predictions marketplace. Explore the available predictive markets and choose one you want to trade. There are several options to choose from, including the NFL, the NBA, and more. Then make your prediction, such as the New York Knicks winning the 2026 NBA Championship or the Chicago Bears winning the 2027 Super Bowl.

4. Withdraw earnings

If you make accurate predictions and turn a profit, you can withdraw your funds. Click the 'Transfers' section of your Kalshi profile and choose 'Withdraw Funds.' Select a linked payment method and enter the amount you want to take out.

What is Kalshi?

Kalshi is a federally regulated platform for trading event outcomes on prediction markets. Traders can buy and sell simple, transparent contracts that settle based on the outcome of real-world events. Markets are constructed around a yes/no proposition, with prices adjusting dynamically based on traders’ perceived probability that the event will occur. When the event concludes, if you are correct, the contract “honors” at a predetermined price; if you are incorrect, it expires at $0.

Kalshi’s unique approach powers trades between users on an open exchange, rather than positioning the platform as the counterparty, as a traditional bookmaker or sportsbook would. Prices are determined by market forces rather than a house advantage, and participants can buy and sell before an event concludes as new information becomes available. Trades are settled independently of Kalshi, giving it more of an exchange feel than a typical betting app.

Kalshi is regulated by the U.S. Commodity Futures Trading Commission (CFTC) as a Designated Contract Market. Instead of being treated as gambling, Kalshi’s contracts are structured as “financial instruments” that track the outcomes of future events. Trades can be executed across Kalshi’s diverse selection of markets — ranging from sports and politics to economics, pop culture, and tech — using the familiar U.S. dollar rather than cryptocurrency.

The Masters odds at Kalshi

The 2026 Masters Round One, and trading volume for golf's most prestigious tournament is exploding at Kalshi. See below for the current odds on the golfer winning the event at Augusta National, which currently has over $176.5 million in trading volume:

Trending on Kalshi

The hottest markets on Kalshi in April 2026 range from State Senate elections, U.S. economy outlooks, questions on the future of Trump's administration, and much more. You can browse and place wagers on these varying markets below today. 

Among the popular markets trending on Kalshi this week: "Who will leave the Trump administration in 2026?" with more than $2.3 million in trading volume. The WTI oil price is another Kalshi trending market after oil prices surged above $100 per barrel.

Is Kalshi legit?

Yes, Kalshi is a completely legitimate operator. It functions as an events trading platform in most U.S. states, which exempts it from the licensing requirements that apply to online sports betting apps as well as to social and sweepstakes casinos.

While it is not under the licensing jurisdiction of gambling regulators, Kalshi must comply with regulators in other industries and adhere to security standards.  

• Regulatory compliance: Kalshi is a Designated Contract Market (DCM) regulated by the Commodity Futures Trading Commission (CFTC), which oversees trading laws at the federal level.
• Auditing and security: Kalshi has SOC 2 Type II compliance, a security certification that evaluates how a company deals with customer data. Along with SSL encryption, this ensures your information is safe and secure.

Rest assured, you can trade at Kalshi with confidence thanks to these compliance standards.

Covers Expert Analysis

"I have personally used Kalshi and can confirm that it is safe. Trading is smooth, if a little barebones, and I had no issue withdrawing funds. However, I recommend making withdrawals with your debit card or USDC since it can take up to four business days to receive your payment using bank transfers."

Christian Stringer, Sports Betting Editor

Is the Kalshi legal?

Yes — As a regulated prediction market platform, Kalshi is legal and operational in dozens of U.S. states and is also targeting overseas expansion. So long as you are 18 or older, you can register with Kalshi referral code 'COVERS' to unlock the $10 welcome bonus. It's a great option if you're in a state that doesn't yet have legalized online sports betting, like Golden State, Lone Star, and Sunshine State residents, who can now trade New York prediction markets, California prediction markets, Texas prediction markets. and Florida prediction markets.

Kalshi platform review

$10 Bonus

Code: COVERS

Claim $10

Who it's for

Kalshi is best for users who want to speculate on real-world outcomes. It is a good option for traders and sports betting fans, but it also has a niche appeal with data analysts and political enthusiasts. The platform is ideal for tracking economic trends, sports forms, data, and election polls. For example, during the US presidential election, Kalshi initially showed Donald Trump as the favorite.

Covers BetSmart Rating: ⭐ 4.2/5

Bonuses and promotions	⭐ 4.0/5
Banking and payout speed	⭐ 4.5/5
Key features	⭐ 4.5/5
Security and trust	⭐ 4.8/5
Customer support	⭐ 3.5/5
User experience	⭐ 4.6/5
Betting odds	⭐ 4.3/5

User reviews  

Editor's note: User reviews may be edited for clarity. 

"Kalshi is hands down one of the best apps I’ve ever used! It’s not just another trading platform — it’s an innovative, exciting, and engaging way to make decisions based on real-world events. The interface is sleek, user-friendly, and makes navigating the markets a breeze, even for beginners like me."

- App Store user

"I've been really enjoying Kalshi so far. the interface is clean, intuitive, and actually feels thoughtfully designed instead of rushed. Everything loads smoothly, navigation makes sense, and I didn't have to "figure it out" — which is honestly rare for a lot of apps these days. What I appreciate most is that it feels like the developers actually care about the user experience."

- App Store user

Kalshi at a glance

💰 Sign-up bonus	$10 bonus
⏩ Kalshi bonus code	COVERS
🏅 Top feature	Legal sports trading
💵 Minimum deposit	$1
🕒 Payout speed	Up to 4 days
App Store rating	4.7/5 ⭐ (82K reviews)
Google Play rating	4.5/5 ⭐ (15.4K reviews)
🌎 Available states	All states + DC (excluding Nevada)
🕒 Offer expiry	Ongoing
✅ Last verified	April 13, 2026

Kalshi iOS app

What we like

Events prediction model: Kalshi uses an event-based prediction model across various sports and niche markets, helping it differentiate from competitors.

Ease of use: The platform offers simple trading, allowing users to choose between two outcomes, making it easier to understand.  

Flexible trading: Users can modify their investments while the market is open, making changes based on real-time analytics. 

What we don't like

Minimal bonuses and promotions: While Kalshi offers some event-based promotions, there are no ongoing offers. Hopefully, as the platform grows, we'll see them add new offers to existing users, providing them with more value for their selections.

Limited sports coverage: The Kalshi platform offers fewer sports and prediction markets than traditional sports betting sites. We anticipate that they will add more sports in the near future.

Our comprehensive Kalshi Sports review provides additional information. You can also review our Polymarket vs. Kalshi guide page to see which prediction markets are right for you in 2026.

Kalshi app review

Mobile users can access Kalshi via a web browser or a dedicated app (size 232.8 MB and growing). The HTML5 responsive website is a user-friendly option, featuring a clean interface optimized for mobile screens. In fact, the overall experience is similar, allowing for a seamless transition between desktop and mobile. Kalshi makes our list for the best sports betting apps Georgia offers in 2026.

With that said, I found the Kalshi mobile app to offer better options, including a mobile-centric layout, 2-factor authentication, and push notifications. It is available on iOS and Android, offering a complete experience that includes markets, payments, and customer support. You can enter the Kalshi promo code 'COVERS' to claim the $10 reward as easily as on the desktop site. 

The most recent version of the Kalshi app, Version 9.9.51, was released in April 2026 and included bug fixes and performance upgrades. 

Kalshi vs traditional sportsbooks explained 

Kalshi is sometimes confused with traditional sportsbooks like FanDuel or DraftKings. Here’s how Kalshi’s platform works differently: 

Traditional sportsbooks 

• You bet at fixed odds set by the house
• Odds contain built-in margin ( “vig”) 
• You’re locked into your bet until the event resolves

Kalshi 

• You trade contracts priced at current probabilities 
• Prices move like stocks/options based on market info
• Trade contracts anytime before resolution 

Trading probabilities vs betting odds 

When you bet on sports, you place a wager at odds determined by the bookmaker. The odds are quoted with a built-in margin that ensures a house edge. Once you’ve placed your bet, you’re committed until the event is over unless you accept a cash-out option at select sportsbooks.

On Kalshi, you buy and sell contracts priced at their current probability. For example, a contract trading at $0.62 implies about a 62% chance of that outcome occurring. New information can cause prices to rise or fall as traders buy and sell. Market prices constantly fluctuate based on news, data releases, changes in odds, etc.

No line setting by a house 

At a traditional sportsbook, you’re betting against the house. The sportsbook “lays the odds,” takes the opposite side of your bet, and profits from volume and pricing edges.

Kalshi does not set odds or bet against users. It operates an exchange-style marketplace where traders deal only with other traders. Kalshi provides market-making services and charges fees, but prices are always determined by market supply and demand.

Ability to easily exit positions 

When you bet with a sportsbook, you’ll usually have to wait for the event’s conclusion to learn your result. Some books offer an instant cash-out feature, but this option isn’t always available.

On Kalshi, you can buy and sell contracts up until the moment of resolution. If an injury happens, a forecast changes, or your opinion shifts, you can always exit your position early. Trade whenever you want at market prices to cut your losses or take profits.

Regulation and legality 

In the United States, sportsbooks are considered gambling operators and regulated at the state level. That’s why you’ll find Kalshi available in many states where traditional sports betting isn’t permitted.

Kalshi is regulated by the federal government through the Commodity Futures Trading Commission (CFTC). Since our event contracts are classified as financial products, many states allow Kalshi, where sports betting isn’t.

What markets can you trade on Kalshi?

Sports event trading is a new platform on Kalshi, but it continues to grow, offering markets in several niches: Basketball (NBA), football (NFL), baseball (MLB), hockey (NHL), F1, tennis, soccer, and golf. As Kalshi continues to grow in popularity, expect more markets to emerge. This is one of the fastest-growing platforms available, so keep that in mind.

The last NBA Playoffs marked the first time Kalshi listed single-game NBA markets. Since then, Kalshi has expanded this betting format to other popular sports, such as NCAAF, as you can find single-game markets for most college football matchups. Their offerings continue to expand as they grow in popularity. This is becoming one of the fastest-growing platforms available, so expect to see more.

Politics is the most popular and robust category to have become mainstream during the most recent U.S. presidential election. Other options include:

Culture (music, movies, awards shows like the Oscars, celebrities, review ratings, TV, video games)

Crypto (Bitcoin, Dogecoin, hourly values, Ethereum)

Weather (temperature, climate change, natural disasters, weather predictions)

Economics (interest rates, inflation, employment, consumer spending, energy)

Companies (Elon Musk, CEOs, layoffs, product launches)

Financials (NASDAQ, currency, treasuries)

Tech & Science (AI, space, energy, papers)

Health (disease spread, COVID)

World (foreign economies, international politics)

Kalshi NFL Player Props

Kalshi debuted individual player prop markets ahead of the last NFL season, allowing users to buy and sell contracts on various player-specific outcomes. The first prop market the operator debuted was 'Who will score the first touchdown?' in the NFL season opener between the Dallas Cowboys and Philadelphia Eagles.  It's another example of how the platform keeps expanding.

Kalshi live event trading

While you cannot predict specific moments or outcomes of an event, Kalshi still allows you to change your prediction once the event is active. Users can continue to trade contracts in real time, giving them more flexibility and the chance to respond to changes in circumstances. Data-driven analysis can help track an event and buy or sell a contract before or during it. 

Kalshi Combos

Combos on Kalshi let you group multiple event outcomes into a single trade, somewhat resembling a parlay at sportsbooks. Rather than wagering on each market individually, you can link a few together to form a custom position tailored to what you expect to happen. These trades are higher risk but also higher reward when they hit.

The key to understanding combos is that they pay out based on the product of the final settlement values of each leg. If all legs fully resolve to $1, then the combo pays $1. If one leg partially resolves to $0, then the combo pays $0. And if one leg partially resolves to another value, like $0.70, that number factors into the payout as well. Combos are currently available on pro football, pro basketball, and some mention markets.

Creating a combo is simple. Kalshi features a combo builder within the app that lets you assemble events as they get closer to occurring. Once you submit a combo, Kalshi issues a Request For Quote (RFQ) to the market. This means the system makes a request to other traders to see if they would be willing to take the opposite side of your trade and at what price.

Combo payouts are determined based on how each leg of the combo resolves, even in the case of an unexpected outcome. If one leg of your combo is voided (such as a player market where the player never enters the game), then the combo is not voided. Instead, Kalshi treats each leg independently and multiplies the results.

For example, if you purchased a 3-leg combo and one leg resolved to pay $0.50, with the remaining legs resolving to pay $1.00, your payout would be $0.50 per contract. This allows a simple way to express a more nuanced opinion about an outcome of a game or event while keeping the payout math straightforward.

Kalshi profitable trading strategies

Here are some effective strategies to help you make profitable trades on Kalshi. Remember to always focus on bankroll management, as you never want to risk too much on a single trade. If you follow these tips, you'll be well on your way to success at Kalshi. Read through them carefully and incorporate them into your process.

Kalshi trading odds and fees

Kalshi does not directly influence prices, which are set by the market. Investor consensus bases the price on the likelihood of each contract outcome happening. Pricing is relatively straightforward, as each market has only two outcomes. For example, a contract for the Washington Commanders to win the 2027 Super Bowl will allow users to trade on the 'Yes' or 'No' outcome. 

Supply and demand of the contract will sway prices, and fluctuations are common. Think of actual trading concepts, and you have a basic understanding of the buy/sell dynamics of Kalshi. Essentially, using real money, you will buy outcomes, separating Kalshi from social sportsbooks, and sell your prediction/contract as often as you want to get the best result. The market also sets liquidity. 

Kalshi charges transaction fees, the amount of which depends on the market/contract. In most cases, the charge is 1% of the value of a trade. 

Kalshi customer service

Kalshi features a live chat function. You must make a real-money deposit before you can use it. It is active between 8 a.m. and 3 p.m. ET, with connection times of around 30 seconds to speak to an agent. Other ways to communicate with Kalshi are via Discord, email, and phone. There is also an in-depth and legitimately helpful FAQ section on the site. 

• Live chat: Available 8 a.m. - 3 p.m. ET
• Email: support@kalshi.com
• Phone: 332-205-9910
• Support language(s): English
• X (Twitter): @Kalshi

Kalshi payment methods

Kalshi's deposit and withdrawal options are limited, missing popular providers such as PayPal and Play+. Visa and Mastercard are available, but you have to pay a $2 fee per transaction, making it a payment to avoid. Cryptocurrency, meanwhile, charges no fees, but is limited to USDC. Hopefully, Kalshi can provide more payment methods in the foreseeable future to make the process more convenient.

Method🏦	Deposit💰	Withdrawal💸
Wire transfer	✅	❌
Visa	✅	❌
Mastercard	✅	❌
Crypto (USDC)	✅	✅
Bank transfer	✅	✅
Online banking	❌	✅
Cash App Pay	✅	✅

How does Kalshi compare to stock and crypto trading?

The Kalshi platform combines sports wagering and trading concepts but is a bit different. It's not the same as normal stock or crypto trading because it focuses on event-based contracts. Users predict the outcome of real-world events and then trade on the quality of their predictions. 

Meanwhile, normal stock trading focuses on investments in companies or digital assets. The classic model gives investors ownership or value in their stock/crypto. Event contracts settle when the outcome occurs.

Kalshi trading limits and liquidity

Kalshi uses trading caps, but they vary by market. If a market has low liquidity, the pricing is less accurate due to widespread predictions. High-liquidity markets, on the other hand, provide better trading outcomes as prices are more stable.

Recent Kalshi updates

Bookmark this page and return here to stay abreast of the latest updates and news concerning Kalshi.

April 7, 2026: Kalshi and Fox Corporation announced a partnership that will incorporate Kalshi’s probability outcomes on political, economic, weather, and cultural markets into the media giant’s linear and digital content. 

April 6, 2026: Kalshi has lost another key court battle in Nevada, keeping the prediction market platform from offering event outcome contracts in the Silver State. 

April 6, 2026: A federal appeals court allowed Kalshi to continue offering sports event prediction contracts in New Jersey by upholding a preliminary injunction against state regulators.

April 2, 2026: Kalshi requested that the intellectual property rights of its requested trademark for the term “prediction market” cover the entire gambling industry.

March 28, 2026: Washington State Attorney General Nicholas Brown filed a lawsuit on Friday, suing prediction market operator Kalshi for illegal gambling.  

March 24, 2026: Kalshi issued new rules, restricting athletes and politicians from trading on its platform in an effort to contain insider trading as prediction markets have come under fire for vague rules and lax enforcement relative to insider trading.  

March 22, 2026: A Nevada court issued a temporary restraining order banning Kalshi from offering sports, election, and entertainment event contracts in the state after regulators argued it was unlicensed sports betting.

March 20, 2026: Prediction market company Kalshi's valuation has reportedly doubled to $22 billion dollars.

March 17, 2026: Arizona charged the prediction market operator Kalshi with 20 criminal counts, ranging from wagers accepted on Arizona men’s and women’s college basketball games, Super Bowl prop bets, and election wagering.  

March 17, 2026: NBA star Devin Booker has partnered with Kalshi to promote a March Madness bracket contest with a $1 billion prize for a perfect entry. 

March 14, 2026: Kalshi is challenging more than a dozen states in court over the legality of its sporting event contracts, filing suits this week against both Arizona and Iowa gaming regulators.

March 10, 2026: An Ohio judge ruled against Kalshi, stating sports contracts aren't swaps, after the prediction market platform attempted to sue the state following cease-and-desist orders.

March 9, 2026: According to reporting by the Wall Street Journal, Kalshi and Polymarket are talking to new investors, which would see valuations shoot up to $20 billion. 

Feb. 25, 2026: Ex-California governor candidate Kyle Langford and MrBeast employee Artem Kaptur received bans and fines for violating Kalshi’s insider information policy.

Feb. 24, 2026: Kalshi filed a federal lawsuit in Utah seeking to prevent expected state enforcement tied to anti-gambling laws.

Feb. 24, 2026: Kalshi discloses an insider trading probe to ensure customer confidence, preparing to disclose disciplinary actions after working through a backlog of potential violations.

Feb. 24, 2026: Kalshi and Polymarket have received a combined $10.6 million in mention market contract purchases on US President Donald Trump's upcoming State of the Union address on Tuesday.

Feb. 23, 2026: The NCAA has raised a dispute with prediction market Kalshi, after the operator was found to have been using its “March Madness” trademark.

Feb. 20, 2026: A Tennessee U.S. District Judge granted Kalshi a preliminary injunction preventing state officials from enforcing state betting laws.

Feb. 18, 2026: The Nevada Gaming Control Board sued Kalshi, arguing sports event contracts constitute unlicensed wagering under state law.

Feb. 16, 2026: NBA commissioner Adam Silver said the league views prediction markets like sports betting operators, so Milwaukee Bucks star Giannis Antetokounmpo did nothing wrong when he became a Kalshi shareholder earlier this month. 

Feb. 16, 2026: Kalshi’s sports event contracts have helped the platform become approximately one-fifth the size of sports betting giant DraftKings, generating $1.3 billion in estimated annualized revenue.

Feb. 6, 2026: In an unprecedented move, NBA star Giannis Antetokounmpo announced that he’s a shareholder of Kalshi, despite active players being forbidden from trading on NBA markets.

Feb. 5, 2026: Amid concerns of inadequate integrity standards, Kalshi announced a major revamp of its surveillance and enforcement structure with a new enforcement policy split into three pillars: detect, investigate, and enforce.

Jan. 29, 2026: Coinbase has rolled out prediction markets nationwide through its partnership with Kalshi, with its prediction market product available to users across all 50 states.

Jan. 14, 2026: Kalshi has reportedly landed its first pro athlete partnership, teaming up with two-time U.S. Open champion Bryson DeChambeau to feature in a TV commercial and other promotional materials.

Jan. 12, 2026: Kalshi is suing the Tennessee Sports Wagering Council (TSWC) after the regulator issued a cease-and-desist order to the prediction market operator January 9th.  

Jan. 7, 2026: In an effort to curb insider trading, Kalshi's CEO endorsed a bill that would ban government officials with access to material nonpublic information from trading prediction market contracts tied to policies, actions, or elections.

Jan. 7, 2026: Prediction market firm Kalshi has begun rolling out a VIP product to retain its highest-volume users, with the program reflecting similar programs offered by crypto platforms and sportsbooks.

Dec. 23, 2025: The NHL's Chicago Blackhawks become the first pro sports team in the U.S. to partner with Kalshi.

Dec. 18, 2025: Kalshi will be the first front-of-kit sponsor in the new Baller League USA, a 10-team indoor soccer competition.

Dec. 18, 2025: Congressman Abe Hamadeh has raised questions about the recently announced partnership between prediction market operator Kalshi and broadcaster CNN, citing concerns about market integrity and national security.

Dec. 18, 2025: Kalshi submitted a filing to the Commodity Futures Trading Commission (CFTC), notifying the regulator that it is self-certifying markets regarding whether college athletes will enter the transfer portal.

Dec. 17, 2025: A federal judge denied Kalshi's latest motion for stay in Nevada after a cease-and-desist letter was sent to Kalshi earlier this year.

Dec. 16, 2025: Kalshi has expanded its combo event contracts, allowing users to boost parlay-style payouts.

Dec. 15, 2025: Coinbase is reportedly preparing to launch prediction markets through a partnership with Kalshi.

Dec. 15, 2025: Crypto wallet Phantom announced a partnership with Kalshi, integrating Kalshi’s event contracts into its wallet.

Dec. 12, 2025: Kalshi and Crypto.com announced the formation of the Coalition for Prediction Markets, with Robinhood, Coinbase, and Underdog also listed as members.

Dec. 12, 2025: Crypto app, Phantom, to integrate tokenized Kalshi prediction markets to its over 20 million users, powered by Solana.

Dec. 10, 2025: Kalshi CEO Tarek Mansour says Kalshi’s rivalry with Polymarket mirrors Tom Brady versus Peyton Manning and has helped both companies reach higher levels.

Dec. 4, 2025: CNBC and Kalshi unveiled a multi-year exclusive partnership to incorporate real-time prediction data into multi-platform news coverage.

Dec. 3, 2025: Kalshi and CNN have partnered to show data in a landmark deal that will push the event contracts company and prediction markets into the mainstream.

Dec. 2, 2025: Kalshi is accelerating its push into crypto, rolling out tokenized versions of thousands of its markets on Solana. 

Dec. 2, 2025: Kalshi ended November with the highest monthly trading volumes in its history, with their monthly spot volume increased 32% from $4.4 billion in October to $5.8 billion.

Nov. 28, 2025: Kalshi is facing substantial legal pressure after a proposed nationwide class action lawsuit accused the company of operating an unlicensed sports betting platform while presenting itself as offering better odds than traditional sportsbooks.  

Nov. 25, 2025: A federal judge in Nevada dissolved Kalshi’s earlier injunction that was won earlier this year, siding with state regulators who claim the platform is running unlicensed sports betting.

Nov. 14, 2025: PrizePicks announced a multi-year partnership with Kalshi to allow customers to buy and sell event contracts in sports, entertainment, and pop culture.

Nov. 7, 2025: Google is helping push prediction platforms to mass consciousness thanks to its new partnership with Kalshi and Polymarket.

Nov. 4, 2025: Prediction platform Kalshi believes Democrat nominee Zohran Mamdani has a 90% chance to win the New York City mayoral election, with a reported more than $90 million in trading volume day of the election.

Oct. 27, 2025: Kalshi filed a lawsuit to seek a preliminary injunction keeping New York regulators from taking action against the prediction market platform after the New York Gaming Commission sent a cease-and-desist order to Kalshi.

Oct. 23, 2025: Kalshi could be valued at more than $10 billion amid increased interest from investors.

Oct. 22, 2025: The NHL announces a multiyear partnership with Kalshi as one of the official prediction markets of the league.

Oct. 20, 2025: Nearly half of Kalshi's users experienced technical glitches and delays on the prediction markets platform during last Saturday’s college football games, one of the operator’s busiest trade session times.

Oct. 15, 2025: Kalshi’s NFL parlay offerings received a noticeable uptick in activity during their second week of availability, up to $10.1 million from the $6 million in the first week.

Oct. 10, 2025: Kalshi’s valuation has climbed to $5 billion following a fresh funding round, signaling the company’s rapid expansion and growing global ambitions.

Oct. 8, 2025: Kalshi is asking a U.S. District Court to slap the Ohio Casino Control Commission (OCCC) with a permanent injunction and declaratory relief after the state is trying to prevent prediction markets from offering sporting event contracts.

Sept. 30, 2025: Kalshi is upping the ante on its challenge to sportsbooks by offering same-game parlays with its prediction markets, with one user reporting that they received odds more than 25% higher for a parlay at Kalshi than at DraftKings.

Sept. 19, 2025: Kalshi storms past Polymarket in trading volume to dominate mathe rket, capturing 62.2% of global prediction market volume, rising from 3.1% one year ago.

Sept. 15, 2025: Kalshi is 'not a competitive threat' to U.S. sportsbooks, according to analysis from Citizens JMP Securities, with Kalshi attracting a certain kind of clientele over average bettors.

Sept. 12, 2025: Massachusetts Attorney General Andrea Joy Campbell has filed a lawsuit against the prediction market Kalshi for promoting and accepting online sports wagers from Massachusetts customers without following the many state laws that govern sports gaming.

Sept. 11, 2025: Kalshi closed multiple markets involving political activist Charlie Kirk after he was assassinated on Wednesday, where there had been offerings of “Yes” and “No” predictions on Kirk running for political office by 2029.

Sept. 4, 2025: Kalshi will offer parlay contracts on football outcomes, potentially competing directly with traditional sportsbooks in a highly lucrative betting market. 

Sept. 4, 2025: Kalshi has processed nearly $4 million in predictions on the Thursday Night Football matchup and 2025 NFL season opener between the Philadelphia Eagles and Dallas Cowboys.

Aug. 28, 2025: Taylor Swift’s engagement to Travis Kelce has driven a surge in betting markets on her headlining the Super Bowl LX halftime show, with 60% of users on Kalshi backing Swift.

Aug. 18, 2025: Kalshi is entering territory typically dominated by state-regulated sportsbooks, as they're getting into the business of offering point spreads, totals, and player props for football season. 

Aug. 14, 2025: Maryland has agreed not to enforce its laws against Kalshi until the Fourth Circuit rules on the company's appeal, which is not expected for at least two months.

Aug. 5, 2025: Nevada Congresswoman Dina Titus requested the CFTC to probe if Chairman nominee Brian Quintenz is compromised by his financial interest in the controversial prediction market trading platform Kalshi.

Aug. 1, 2025: Kalshi suffers its first major court setback in Maryland ruling with MD federal district judge Adam Abelson denying Kalshi's motion for a preliminary injuction against the state's sports betting regulators.

July 23, 2025: Three federally-recognized California Indian tribes sued prediction market operator Kalshi and electronic trading platform Robinhood for offering sports betting, in violation of the Indian Gaming Regulatory Act (IGRA) and the Federal Wire Act.

July 21, 2025: Kalshi is defending the use of betting language, claiming peer-to-peer trading avoids gambling classification.

July 17, 2025: U.S. election betting is becoming, better, and year-round thanks to a growing number of apps and websites, like Kalshi.

July 3, 2025: Sports trading accounts for 50% of Kalshi markets, as players gravitate towards niche sports like the WNBA, UFC, and hot dog eating.

July 3, 2025: Nevada submits 18 defenses in legal battle with Kalshi. 

June 27, 2025: Smarkets’ path to prominence in the United States of America could be paved with sports event contracts like the kind that are (somewhat controversially) offered by prediction market Kalshi.

June 26, 2025: Kalshi receives $185 million in funding at a valuation of up to $2 billion, aiming to become "the most important financial market on the planet."

June 18, 2025: Ohio Attorney General Dave Yost is leading a coalition of 36 AGs in the battle against Kalshi, a prediction market site already facing multiple lawsuits from several U.S. states.

June 17, 2025: Lawsuits against prediction market operator Kalshi, and the trading platforms Robinhood, Susquehanna, and Webull, started to pop up across the U.S. this month, with lawsuits filed in five states, including Kentucky, Ohio, Massachusetts, Illinois, and South Carolina.  

June 13, 2025: FanDuel Sportsbook has discussed a partnership with fast-rising trading platform Kalshi, according to a report from Front Office Sports. A potential first-of-its-kind deal could open up new market efficiencies and expand brands. 

June 11, 2025: President Trump's nominee to become the next chairman of the CFTC sounds like he doesn't plan on curtailing the expansion of federally regulated prediction markets such as Kalshi into controversial areas like sports.

June 8, 2025: Kalshi adds 39 new prediction markets centered on the Donald Trump/Elon Musk feud, highlighted by "Will Trump or Elon apologize first this month?"

May 28, 2025: The Commodity Futures Trading Commission (CFTC) is set to host a conference call with tribal leaders May 29th to discuss federally regulated prediction markets (such as Kalshi and Robinhood) and, presumably, the sports event contracts they offer.

May 28, 2025: CFTC nominee Quintenz submits an ethics statement about regulating prediction market providers, including Kalshi, where he serves as a board member.

May 27, 2025: A Republican California gubernatorial candidate used prediction market platform Kalshi to purchase nearly $100 worth of political outcome contracts on himself to be named Governor in 2026. 

May 26, 2025: If Kalshi CEO Tarek Mansour is right in his suspicions, customers will soon be able to to buy prediction market contracts through the same financial brokerages that hold their 401(k) by the end of 2026.

May 23, 2025: A bettor wagering on the New York Knicks lost nearly $10k on Kalshi after their epic Eastern Conference Finals Game 1 collapse against the Indiana Pacers.

May 21, 2025: Kalshi backtracks on AI partnership with Elon Musk, after CRO Tarek Mansour posts on social media that the prediction market company is partnering with xAI.

May 20, 2025: U.S. District Court Judge Andrew Gordon said he'd move quickly on the Nevada Resort Association's (NRA) May 14 motion to intervene in the ongoing legal battle between prediction market Kalshi and the Nevada Gaming Control Board (NGCB).

May 12, 2025: Prediction markets Kalshi and Polymarket see more than $40 million worth of trades on the papal conclave's outcome.

May 8, 2025: Papal upset surprises prediction betting markets.

May 8, 2025: Robert Francis Prevost becomes the first American-born Pope after Italian Pietro Parolin surges in odds to take the vacant seat, despite 1% odds and $10.6 million in predictions.

April 28, 2025: Judge grants Kalshi a temporary injunction in New Jersey sports-related event contracts case.

April 28, 2025: Kalshi reaches $4.5 million in Canadian election handle.

April 23, 2025: Kalshi and its prediction-based markets are offering next pope odds markets for 15 potential replacements with forecasts ranging from 30% to less than 1% likelihood, and they've accepted $1 million in action.

April 22, 2025: Kalshi files a lawsuit against Maryland, arguing that the state's regulators — the Maryland Lottery and Gaming Control Commission — are "unconstitutionally threatening to prohibit sports event trading". 

April 20, 2025: The state of New Jersey files a new opposition to prediction market startup Kalshi’s preliminary injunction, accusing the company of making an “endrun” around its regulatory framework. 

April 17, 2025: Kalshi launches MLB game markets despite scrutiny over sports contracts. 

April 15, 2025: Kalshi launches single-game NBA moneyline trading for the play-in tournament and NBA playoffs.

April 9, 2025: Kalshi wins round one of its Nevada sports betting battle after a judge partially grants its request for a temporary restraining order and preliminary injunction against local gaming watchdogs.

April 8, 2025: Former AGA Executive Sara Slane joins Kalshi as Head of Corporate Development. 

April 7, 2025: Maryland joins the sports event contract betting clampdown, sending a cease-and-desist to Kalshi and other prediction market operators.

April 4, 2025: Amidst numerous cease-and-desist orders from state regulators, Kalshi CEO Tarek Mansour says the company won't stop offering sports-event contracts until the CFTC steps in. 

April 1, 2025: Ohio regulators seek to shut down Kalshi and other sports event contract trading companies.

March 31, 2025: Kalshi challenges the Nevada and New Jersey cease-and-desist orders with its lawsuit. 

March 27, 2025: The New Jersey Department of Gaming Enforcement sends a cease-and-desist order to Kalshi, demanding that they stop offering any form of sports wagering.

March 24, 2025: Kalshi surpasses $200 million in March Madness contracts throughout the first two rounds of the NCAA men's basketball tournament. 

March 24, 2025: Kalshi partners with IC360 to unveil a new customer protection hub, introducing new features like deposit caps, trading breaks, and voluntary opt-outs. 

March 17, 2025: After receiving regulatory clarity, trading platform Robinhood unveils prediction markets for March Madness, powered by Kalshi.

March 5, 2025: Nevada sends a cease-and-desist to Kalshi, officially becoming the first state to take action against the prediction market platform. 

Feb. 27, 2025: The Indian Gaming Association urges the CFTC to prohibit sports prediction outcome markets like Kalshi. 

Feb. 24, 2025: Congresswoman Dine Tutus shares concerns about predictive markets — like Kalshi — to the CFTC, arguing that these platforms bypass existing betting laws.  

Feb. 13, 2025: President Donald Trump picks former Kalshi board member Brian Quintenz as the head of the federal commodities regulator.  

Feb. 12, 2025: Webull partners with Kalshi to offer event-contract trading like other online brokerages. 

Feb. 8, 2025: Ahead of the Super Bowl, a CFTC filing reveals that Kalshi is self-certifying markets allowing bets on game winners, effectively mirroring moneyline betting. 

Feb. 4, 2025: Robinhood pulls its Super Bowl contracts on Kalshi one day after the Commodity Futures Trading Commission's legality concerns. 

Feb. 3, 2025: Robinhood will offer contracts for Super Bowl LIX through a partnership with Kalshi.

Jan. 28, 2025: Kalshi is already attracting big bucks for Super Bowl LIX, as the prediction trading sites have already reportingly taken in $1.3 million in wagers for this year's Big Game.

Jan. 22, 2025: Kalshi will launch sports trading event contracts in the near future, allowing wagers on predictive markets ahead of the Super Bowl.

Jan. 13, 2025: Donald Trump Jr. will work as an advisor to Kalshi following the rise in popularity of prediction betting in the U.S. 

Kalshi promo code for existing customers

Currently, no Kalshi promos are available for existing users. However, some exclusive promotions may be available from time to time via a Kalshi bonus code. If the situation changes, I will list the bonuses and respective codes in this section. 

What is the Kalshi referral code for 2026?

Share the unique code found within your 'Account' with a friend to claim a $25 Kalshi referral code bonus for each person you invite to the platform who registers, deposits funds, and completes the trading requirements within 30 days. The process works similarly to a typical sportsbook referral bonus, which awards existing Kalshi users for getting new users to sign up with the online predictive site. It's a great way to build your bankroll — you can earn up to $1,000 via referrals. 

Additional prediction market platform promos

Kalshi is a pioneer in its niche space, meaning it's one of the first of its kind, with few platforms offering the same service, and even fewer providing promotions and bonuses. That said, if you're looking for some Kalshi alternatives, the following options may be your best bet. Please find more information on them below.

• Polymarket: Our Polymarket promo code page includes information about referral program perks for inviting friends and rewards for users who contribute to liquidity.
• PredictIt: Offers a $20 bonus with a $20 deposit for new users.
• Robinhood: Issues new users up to a $200 Robinhood promo code bonus today.
• Sporttrade: Claim up to a $100 bonus without a Sporttrade promo code.
• Railbird: Read out Railbird promo code page to learn more about this upcoming event-contract derivatives market betting site that allows you to trade on sports via prediction markets. 
• FanDuel Predicts: FanDuel teamed with CME Group to launch FanDuel Predicts in December 2025. Check out our FanDuel Predicts promo code review page to learn more
• Fanatics Markets: Fanatics formed a partnership with Crypto.com to launch an online predictive platform. Check out our Fanatics Markets promo code review for more details. 
• DraftKings Predictions: Explore our DraftKings Predictions promo code page to about DK's foray into predictions.
• Crypto.com: Delivers a $50 bonus for first-time users that doesn't require a Crypto.com promo code.