Kalshi Referral Code Feb. 2026

What is the Kalshi referral code?

Send your unique link to your friend, and have them input Kalshi referral code SBR, and both you and your friend will receive $25 from one of the best prediction markets. The referral code must be entered within 72 hours of account creation and before your friend makes their first deposit.

It's important to remember that if your friend uses the Kalshi referral code, they will not be able to input the Kalshi promo code and receive that initial sign up bonus.

The table below explains all of the key information related to the Kalshi referral code:

Does Kalshi have a referral bonus?

The Kalshi referral bonus allows existing users to invite their friends to the platform, so that both parties can obtain a $25 bonus. Neither party will receive their $25 bonus until the friend signing up makes $100 worth of trades on events like Winter Games hockey or March Madness. This total does change from time to time, and we will update it here if the number increases or decreases.

Players can use Kalshi referral bonus code SBR to invite up to 40 friends, which means the maximum amount earned from this bonus is $1,000. 

Users who have already acquired $10 from the Kalshi sign up bonus can only earn the $25 bonus if they are the ones referring others to the site. You can't be referred to the site, collect the referral bonus, and also collect the initial welcome bonus.

Referred parties must enter Kalshi referral code SBR within 72 hours of signing up and before making their first deposit for both parties to claim the $25 bonus. Bonus funds cannot be withdrawn, but any profit earned from them can be withdrawn immediately.

How to use the Kalshi referral code

One of the best qualities of Kalshi is how easy it is to use the platform. This begins with sign up and continues through entering referral and promo codes, making trades, and withdrawing earnings. Here's everything you need to know about using the Kalshi welcome offer.

1. Send referral link

After you sign up and start trading at Kalshi, you'll be able to invite your friends. Send a friend your referral link and have them input Kalshi referral code SBR.

2. Make trades

For both parties to receive their $25 bonus, the referred party must make at least $100 worth of trades. Any trades count towards this minimum requirement. Once trades have been made, both parties will find the bonus funds in their account.

3. Trade your bonus funds

Bonus funds aren't redeemable. These funds can only be used for making trades at Kalshi, so the faster you start buying contracts, the faster you'll be able to redeem.

4. Withdraw earnings

After you sell your shares for a profit, your earnings are able to be withdrawn. Remember, that you will not be able to withdraw the bonus funds you initially trade, only the profit that you make off of them.

Kalshi referral code pros and cons

✅ Pros

• Can refer up to 40 friends for a maximum of $1,000 in bonus funds.
• Can refer friends after claiming the $10 welcome bonus.

✖️ Cons

• Minimum of $100 in trades must be made to trigger the bonus.
• Referred party must choose between the Kalshi welcome offer and referral bonus.

Kalshi terms & conditions / restrictions

Kalshi is available in all 50 states plus DC. In most states, you must be at least 18 years or older to use the platform, but in some states, the minimum age is 21. Kalshi is only available to US residents.

While there is no time limit for using your bonus or making trades, the $25 referral bonus won't be administered until the referred party makes $100 in trades. Additionally, if you don't use Kalshi referral code SBR within 72 hours of signing up, you may not remain eligible for the referral bonus.

Deposits can be made with debit cards, bank transfer, wire transfer, various cryptocurrencies, Venmo, and PayPal. For withdrawals, we recommend using a bank transfer if you want an experience that rivals that which you'd find at the best online sportsbooks for payouts. While it can take longer than debit card or crypto withdrawals, the latter have a $2 fixed fee, while bank transfers don't carry any charge.

Kalshi legality & regulation

Kalshi is regulated by the Commodity Futures Trading Commission (CFTC), allowing it to operate legally in all 50 states plus DC. While several states have sent Kalshi cease-and-desist letters, because Kalshi operates legally within the guidance of a federal agency, this hasn't impacted the platform's availability.

How do prediction markets differ from sports betting?

While predictions platforms and sportsbooks may seem similar, there are few characteristics that differentiate the two.

Odds at prediction platforms aren't set by oddsmakers, but rather by the public. If the public backs a certain option in a specific market, then the odds for the option will increase. This means that sportsbooks and prediction platforms often end up with vastly different odds, and in some cases, favorites may not even be the same.

Additionally, you always have the option to sell your shares for a set price. This means that if you bought $100 worth of shares when the Yankees were priced at 56 cents per share to beat the Red Sox, and the price rises to 58 cents, you can sell your shares for 2 cents profit per share.

Who should use the Kalshi referral code?

The Kalshi referral code is ideal for any users who have already signed up with Kalshi or want to get involved in predictions markets. By giving $25 to referred parties, the referral bonus offers 2.5x more bonus funds than the standard welcome offer of $10.

However, to trigger this bonus, you must make $100 worth of trades. Some new users may not be willing to risk that much initially, as they try to learn the platform. If you aren't willing to meet the trade requirement, then it may be best to wait and use the referral code when you're ready.

That said, Kalshi is particularly advantageous for traders located in states where sportsbooks aren't legal. With similar markets to the best sportsbooks, getting $25 in bonus funds can go a long way in helping you enjoy a wide variety of markets.

What Is Kalshi? (prediction markets explained)

Kalshi is one of the top prediction platforms in the world. It is regulated by the CFTC, which allows it to operate legally in states where the best sportsbooks are illegal. 

Kalshi users can purchase Yes or No contracts for anything from sports outcomes to the Oscars and even who will win certain political elections. Because prediction platforms like Kalshi rely on the public to purchase shares to determine prices, odds at Kalshi are often more favorable than at sportsbooks, especially when there are more than two options in a specific market. 

The only real downside of Kalshi is that, because it isn't a full sportsbook, sports markets are often limited. But with an easy-to-use mobile app, plenty of non-sporting event markets, and the ability to make your own markets, Kalshi is able to compete with the best sportsbook promos.

For more information about betting on the Oscars, check out our Oscar prediction sites and Oscars predictions pages.