The big college tournament is here, and the Kalshi Billion Dollar Bracket gives college basketball fans a chance to turn America's biggest tournament into a life-changing payday. Submit a perfect NCAA Tournament bracket, and you could win $1 billion. Even if no one gets every game right, the highest-scoring bracket will still win $1 million, while another $1 million will be donated to charity.
Entering the bracket contest is simple. You only need to create and verify a Kalshi account and submit your picks before the tournament begins. There is no deposit or trade required just to enter the contest.
Use Promo Code COVERS
Kalshi Billion Dollar Bracket details
The Billion Dollar Bracket contest is built around the 2026 NCAA Men’s Basketball Tournament, where participants can build and submit their bracket directly on Kalshi’s platform.
To enter the contest, users must create an account, complete identity verification, and submit their bracket before tournament play begins. According to the contest details, entrants must be at least 18 years old, and only one bracket entry is allowed per person.
The headline prize is $1 billion for a perfect bracket, one of the largest promotions ever tied to college basketball. Even if no entrant achieves perfection — which is extremely likely — Kalshi guarantees $1 million to the best overall bracket.
The grand prize is insured by SIG Parametrics, which adds credibility to the promotion and ensures the billion-dollar payout would be covered if someone beats the astronomical odds.
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How hard is a perfect bracket?
Picking a perfect NCAA Tournament bracket is one of the toughest challenges in sports. The odds are widely estimated at roughly 1 in 120 billion if someone makes informed picks based on team strength and probabilities.
If every game were selected at random, the odds would balloon to approximately 1 in 9.2 quintillion.
That’s why the more realistic prize for most entrants is the $1 million awarded to the top-performing bracket. Still, this tournament is famous for its unpredictable upsets, which is exactly what makes bracket contests so exciting every year.
How to claim your free Kalshi Billion Dollar Bracket entry
Claiming your free entry in Kalshi's Billion Dollar Bracket contest is simple and requires no trading or real-money transactions. Follow these steps to participate:
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Visit Kalshi and create a new account.
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Complete the identity verification process.
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Navigate to the Billion Dollar Bracket contest page.
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Fill out your NCAA Tournament bracket.
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Submit your picks before the first tournament games begin on 3/19
No deposit is required to enter the bracket contest, but participants must have a verified account.
Kalshi promo code details
Sign Up With Code COVERS
New users can also take advantage of Kalshi’s welcome bonus by entering the Kalshi promo code COVERS during registration.
This promotion is separate from the Billion Dollar Bracket contest, so entering the bracket does not require any deposit or trading activity.
Is Kalshi legal & where can I use the Kalshi promo code?
Kalshi operates as a federally regulated exchange overseen by the Commodity Futures Trading Commission (CFTC). Rather than functioning like a traditional sportsbook, the platform allows users to trade on event outcomes across a variety of markets.
Availability of the signup bonus may vary by state due to regulations, and certain states are excluded from the promotion. Users should check eligibility in their state before participating.
Use the correct Kalshi promo code for your state
| ⏩ Kalshi Promo Code | 🌎 Eligible States |
| COVERS | All states excluding NY & FL |
How to claim your Kalshi welcome bonus
Getting started with Kalshi and claiming your bonus is straightforward. Follow these steps to join the action:
- Visit Kalshi and click the sign-up button, entering promo code COVERS during registration
- Complete identity verification by uploading a photo of your driver's license or passport, plus a selfie
- Create your bracket for the Billion Dollar Contest at no additional cost
The combination of the welcome bonus and bracket contest makes this an ideal time to explore prediction market trading. For a comprehensive look at the platform's features and offerings, read our detailed Kalshi Sports Review.
Full contest terms and conditions apply (link). Participants must be 18 years of age or older to be eligible for contest. Restrictions based on residency may result in ineligibility. Attempt to enter contest without meeting eligibility requirements will result in disqualification. Any potential winners are subject to verification of eligibility by contest sponsors. Any prize winners are subject to and responsible for any federal, state, local, or other applicable taxes associated with acceptance of prize. Participants agree not to communicate with any player, student, staff, coach, or other person to influence or attempt to influence the outcome of a game in any way, or to influence or attempt to influence their chance of winning the contest. Binding terms regarding liability, disclaimers, and arbitration provisions apply. Contest is not endorsed by or associated with the NCAA.
Full rules available here: https://kalshi.com/billion-dollar-bracket
Affiliate Disclosure: Our team of experts has thoroughly researched and handpicked each product that appears on our website. We may receive compensation if you sign up through our links.
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