Kalshi Promo Code SBR for up to $500 in Bonuses in July 2026

TL;DR: My quick summary of the Kalshi promo code offer

The Kalshi welcome bonus is a solid offer. I easily claimed it by depositing $25 and making a pair of MLB trades. The only thing I don't like about it is that, while you can earn up to $500, you can also receive as little as $15. And how much you receive is random.

• I traded $12.50 on the Dodgers to beat the Phillies.
• Then, I traded $12.50 on the Tampa Bay Rays to beat the Toronto Blue Jays.
• Each trade won. Both teams were slight favorites, though, so my return wasn't huge.
• Once those two trades settled, Kalshi put $75 in bonus funds into my account.
• I used my bonus funds to trade $35 and $40 on two MLS games: New England to beat Toronto and Inter Miami to beat Chicago. Miami came through, but the other game ended 0-0, which was a loss for my trade.
• After four trades, including two with Kalshi's bonus funds, my account had roughly $120 in it, all of which was withdrawable. Not bad for a mere $25 deposit.

Full Kalshi promo code details: Legal, fast, & offers good value

I've already spent dozens of hours using Kalshi, testing it thoroughly by depositing, making trades, claiming the welcome bonus, and cashing out my winnings. The up to $500 welcome offer is perfect for beginners and experts alike, since it doesn't require much risk.

Kalshi promo code offer overview: A market leader

The up to $500 welcome bonus from Kalshi sits at the very top of the pack, in my opinion. While its overall bonus total is very high, it's important to note that the bonus amount is randomized. You have a greater chance of receiving a $15, $35, or $75 bonus than you do of getting the maximum $500. Still, the chance exists. 

Despite the random bonus amount, Kalshi's offer still ranks best for me. My reasoning is simple: Kalshi is the best prediction market platform in the business and the offer is a breeze to collect. 

Kalshi promo code terms and conditions: Fair & straightforward

Nothing stood out to me as abnormal when I signed up for Kalshi. The process was quick, easy, and seamless. However, I still want to highlight some of the more important terms and conditions that you should keep in mind when using the Kalshi promo code to grab the welcome bonus:

• You can use Kalshi in all states except Nevada.
• To trigger the offer, you must sign up with Kalshi bonus code SBR.
• Proof of identification in the form of a driver's license or passport is required to register. You will also need a photo of yourself holding your ID.
• The minimum deposit is $10.
• You must trade at least $25 in event contracts to earn the bonus. Whether your initial trades result in a profit or a loss doesn't matter.
• Once your $25+ in trades have been completed (within seven days of registering), you will receive a randomized bonus amount.
• The bonus amounts are $15, $35, $75, $100, and $500. However, the lower amounts are weighted more heavily. See the chart below.
• There is no expiration date for this promo.

These terms are very customer-friendly. I was able to complete the entire process, from signing up, depositing, making my first trades, and collecting $75 in bonus funds in the span of 20 minutes. I definitely got a bit lucky, as the bonus amounts are distributed according to the following percentages:

Best Kalshi promo code trading strategy: Start with favorites

Although the Kalshi welcome promo requires you to make $25 worth of trades to activate it, there are no restrictions on which markets (or prices) you can pick. Therefore, the best way to maximize your potential profits is to start by picking some moderate favorites.

For example, the two picks I made (Dodgers to beat the Phillies and Rays to beat the Blue Jays) were trading in the 55% to 62% range. Those trades both had better-than-even chances of being correct and resulted in my first two trades netting me roughly $10 and $8, respectively. 

Even better, those two trades were enough to trigger the bonus from Kalshi, which netted me another $75. 

I think it's great that your first trades aren't required to win (or lose), which makes this offer better than what many traditional sportsbooks still offer. I could have traded on even heavier favorites if I wanted and still claimed the bonus funds.

Kalshi promo code final grade: 4.9/5.0

All things said and done, I give the Kalshi welcome promo one of the highest scores possible: a 4.9 out of 5.0.

To get to this rating, I weighed all of the factors mentioned above:

• Low initial risk.
• Ease of registering and creating my account.
• First deposit and trading requirements.
• Lack of price restrictions.
• High potential bonus total.
• Speed of bonus funds htiting my account.
• Simplicity of turning my bonus funds into real cash that can be withdrawn.

This Kalshi bonus gets top grades from me in every category.

The only thing keeping this bonus from a perfect score? Getting lucky enough to snag the $500 bonus is rare, with the smaller amounts weighted more heavily. But in every other way, the Kalshi promo code earns a very high mark from me. 

*Certain limitations apply. The offer is available to new users only, subject to the terms and conditions at kalshi.com/tc/500. 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.

Comparing the Kalshi bonus to other top promos

After testing all of the major prediction market apps, there's no doubt in my mind that Kalshi is the best. That said, the following table shows key features of some of my favorites. 

Kalshi promo vs. Polymarket promo

Kalshi and Polymarket are the two biggest players in prediction markets, so it makes sense to compare them directly. 

• The Kalshi promo offers a maximum bonus of $500, but you're more likely to receive a lower amount because it's randomized. The Polymarket promo is a consistent $20, no matter what.
• The Polymarket bonus arrives after you deposit $10 or more, with no trading required. The Kalshi offer required you to trade $25+ worth of event contracts within seven days.
• Both bonuses were easy to collect using the Kalshi and Polymarket mobile apps.

Kalshi promo vs. OG promo 

If there's a "Big Three" in prediction markets, OG.com makes a strong case for being the third man on the podium. Let's look at how OG's offer stacks up against Kalshi. 

• The OG bonus is only $10, which is considerably less than Kalshi's potential top award of $500.
• OG's bonus requires only $10 in completed trades, while Kalshi demands $25+ to trigger its bonus.
• Both bonuses come with zero restrictions on markets or odds.

Here’s how I claimed the Kalshi promo code offer

As I said earlier, I was able to claim the Kalshi welcome promo quickly and with ease. The whole thing couldn't have taken more than 20 minutes. There are no market limitations, which easily makes this one of the best prediction market promos. And remember, while you must make $25 in trades to earn the welcome bonus, the minimum deposit to claim this deal is just $10. 

Here's a step-by-step guide on how I claimed my bonus from Kalshi. You can follow the same steps to get your own bonus. 

1. Register

Creating my Kalshi account was simple. There's a prominent green 'Sign Up' button in the top right corner of the website or mobile app. I signed up using my existing Google account, but you can also use your Apple ID or simply any other email address to register.

2. Identity Verification

I had to give Kalshi some standard personal information, such as my date of birth, home address, and the last four digits of my Social Security Number. Rest assured, these are Know Your Customer (KYC) protocols that Kalshi requires to verify you are who you say you are. 

3. Enter promo code

I used the Kalshi promo code SBR during registration to claim its up to $500 welcome bonus offer. I got a little bit lucky, I think, and netted $75 after making the required trades. The lowest guaranteed bonus is $15, but you could also get the $500 maximum amount. 

4. Deposit

I found the deposit process seamless and instant when using Kalshi. I simply tapped the 'Add Funds' button and selected my preferred deposit method. I used my bank transfer, but other options are available too (debit card, wire transfer, or crypto).

I only deposited $25, enough to make the trades required to earn the welcome bonus, but the maximums are much higher (but vary by deposit type). The minimum deposit amount is typically $10, though. 

5. Make a prediction

With my account created and funded, it was time to make my first predictions. Since I come from a sports betting background, I started there. With the World Cup over and MLB being the only major sport currently running, I made two simple baseball predictions for $12.50 each. 

I picked slight favorites, in the 55% to 60% range. Both picks won (thank you, Dodgers and Rays), but more importantly, I met the requirements for the welcome bonus by trading at least $25 within seven days of opening my account. 

6. Refer friends

Kalshi is one of the few prediction platforms that offers a referral bonus. I was able to generate a unique link and send it to some friends. Once they signed up and used my referral code (within 72 hours), they had to complete $25 worth of trades too. After they did, we each received an extra $15 bonus from Kalshi.

Every Kalshi user can refer up to 40 friends, so I still have plenty of potential referral bonuses to claim. 

6. Withdraw

I found withdrawing funds to be just as easy as depositing, though transaction times were a little slower. To get started, I went to the 'Transfers' tab, selected 'Withdraw Funds,' and picked a withdrawal method. I only cashed out my original $25, leaving myself with a combination of my small winnings and the bonus funds to use as "house money" on future trades. 

The bank transfer withdrawal method has no limits or fees, but it is also the slowest option. Debit card and crypto withdrawals are much faster but have a $2,500 daily limit and a $2 fixed fee. You can only withdraw with crypto if you previously deposited with it. I used the bank transfer option, since I didn't mind waiting a couple of days for the money to hit my account. 

💡SBR Expert Tip: If you're not quite ready to start making trades, Kalshi allows you to view its platform without registering an account. This allows you to browse its extensive prediction markets and get a feel for how they work before making any financial commitment. I personally found this helpful when first discovering Kalshi, as I wasn't familiar with how prediction platforms worked.

Trending on Kalshi today

Kalshi is the perfect place to trade all the biggest events in the world. No matter what is happening, Kalshi probably has a market for it. You can check the 'Trending' tab on Kalshi to see which markets are attracting the most trading volume this week:

• 2027 NBA Champion - Over $17M volume
• Bronny James Next Team Before Oct. 23, 2026 - Over $774K volume
• Gas prices in the US this month? - Over $1M volume
• Who will win the Ballon d’Or this year? - Over $5.6M trading volume

MLB

The only remaining major sport on the go is Major League Baseball (with all due respect to MLS). The All-Star Break is over, and we're entering the Dog Days of Summer. Which teams will push for those Wild Card berths, Division Titles, and, ultimately, a spot in the World Series? The trade deadline is a week away, and teams are out of time to decide whether they are buyers or sellers. 

NFL

The new football season is creeping up quickly, with preseason games starting in early August and Week 1 kicking off on September 9. Kalshi has markets for individual games already, but also futures like Win Totals, league awards, Division winners, stat leaders, first coach fired, and even when the Jets will break their playoff drought. 

There are too many markets to list here, frankly. However, here are the favorites to win Super Bowl LXI in February:

How to invite your friends with a Kalshi referral code

Another great perk of signing up with Kalshi is that after grabbing the welcome offer, I was able to accumulate additional funds through the Kalshi referral bonus. I was able to send my unique link to my friends, and as soon as they entered my Kalshi referral code and made $25 worth of trades, we both received bonus funds. 

Like the welcome offer, the referring user and the referred user will collect a random bonus amount between $15 and $500. 

I've done this a handful of times, but I'm nowhere near maxing out the bonus, as it can be used up to 40 times. Here's how:

• Tap the Menu button on the Kalshi app or website.
• Tap the little green "Invite Friends" button, usually stylized with a small gift box icon.
• Tap the "Copy invite link" button to add a unique code to your device's clipboard.
• Paste the link in an email, text message, or DM to your friends.
• When your friend uses your invite link and trades $25+, you each collect rewards.
• Bonus Funds from referrals expire seven days after receipt.

The referral code must be entered within 7 days of the referred party creating their account and before they make their first deposit. It's important to remember that if your friend uses the Kalshi referral code, they won't be able to use any other Kalshi promo codes when signing up. 

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

Kalshi referral code vs. Kalshi promo code

Although these two terms are almost identical, it's important to note that they are actually different methods of signing up with Kalshi. 

Our Kalshi promo code SBR can be used to claim up to $500 in bonuses when you register. Once your account is up and running, you can then generate a unique referral link to send to your friends who are interested in signing up for Kalshi. 

Let's look at the key similarities and differences:

What is Kalshi?

Kalshi is a prediction market platform that is federally regulated by the Commodity Futures Trading Commission (CFTC). The CFTC considers Kalshi a Designated Contract Market (DCM), so it is treated as a financial exchange.

Kalshi is legal and operational in most U.S. states, except for Nevada. While some state regulators have pushed back against prediction market platforms, claiming they operate illegally, Kalshi operates entirely within federal law.

At Kalshi, traders can trade outcomes of real-world events. If your trade resolves as correct, then you will earn $1 for every share you own. If your trade resolves as incorrect, then your shares will settle at $0.

Kalshi is an open exchange, meaning that trading is what sets the prices and odds for shares. At traditional sportsbooks, bettors bet against the house, but at Kalshi, traders buy one side of an outcome, while other traders buy the opposite side.

Is Kalshi legal?

Kalshi is a legal, regulated trading platform. You can grab the welcome promo for Kalshi in New York and all other states except Nevada. Kalshi combines traditional financial markets with predictions, allowing you to trade on the likely outcomes of future events.

Notably, Kalshi is also legal in a handful of places where online sportsbooks are not. You can use Kalshi in Texas, for example. 

*Note: Kalshi has suspended sports event contracts in Michigan due to a temporary restraining order issued by a local court.

Not only is the platform legal, but professional leagues have also welcomed the operator with open arms. This is evident from Kalshi's status as an official prediction market partner of the National Hockey League (NHL).

Kalshi is federally regulated by the CFTC. Therefore, it is required to adhere to the following security standards:

• Designated contract market: The CFTC oversees all stock and financial trading laws at the federal level.
• SOC 2 Type II compliance: A minimal requirement for any SaaS provider, this auditing procedure ensures a service provider securely manages its data to protect its interests and the privacy of its clients.

Kalshi is currently unavailable outside the US, but you can sign up for the waitlist and be notified when it becomes legal in your country. Kalshi recently announced it would partner with financial company Wealthsimple to launch in Canada in the second half of 2026, albeit with far fewer markets than the U.S. version. 

My complete Kalshi review: Great live trading & market depth

I spent over 20 hours on Kalshi to prepare this review. During this time, I fully tested every aspect of both the mobile app and the desktop site. I deposited $25, made some initial trades on baseball markets, collected the welcome bonus, and then cashed out some of the profits. 

After spending ample time with Kalshi, I was able to spot all of the pros, cons, and everything in between:

Kalshi website and mobile app: Simple yet effective

I really enjoyed the clean design of both the Kalshi website and mobile app. Browsing the platform and finding specific markets and events is easy, thanks to intuitive navigation and good categorization. The top menu displays various verticals, from sports and politics to crypto, economics, culture, climate, and more.

I definitely prefer the mobile app over the desktop experience. In my opinion, the app version of Kalshi is just cleaner looking, with a minimalist design that lets you get straight to your preferred markets without any extra distractions. On the other than, the desktop version shows a lot more information that could be useful to some traders, including the desktop-only Kalshi Pro feature. 

Kalshi pros and cons: Flexible trading, minimal bonuses

Kalshi is one of the most popular trading services in the U.S., but that doesn't mean it's without a few shortcomings. Here are the main advantages and disadvantages that I found when using the platform:

Pros: ✅

• Excellent user interface: Kalshi’s top-notch interface makes it easy for beginners and experienced traders to use. Navigating from one place to another is a breeze, with great responsiveness and quick loading times.
• Plenty of non-sporting events: Most markets on Kalshi relate to politics and finance, but you can also find predictions revolving around climate, entertainment, crypto, and more.
• High limits and flexible trading: Trading limits on Kalshi extend well beyond those of most traditional sportsbooks, with some events enabling multi-million-dollar trades. There's also flexibility in selling your positions early, if desired.
• Can trade 'No' side: Most sportsbooks only offer odds on whether something will happen, like a player scoring a touchdown. On Kalshi, you can also predict that something won't happen and potentially profit from it.
• Make your own markets: Want to make a prediction on something, but can't find it on the Kalshi platform? Contact Kalshi to submit a new market and watch how users' predictions shape the market.
• Wide availability: You can use Kalshi in Florida and most other states, including many where sports betting is illegal. For example, you can also freely use Kalshi in Georgia. Only Nevada is restricted.

Cons: ❌

• Not a sportsbook: Trading on sports prediction markets is not the same as making a legal online sports wager, even if it feels similar. You may get vastly different prices (better or worse), and Kalshi doesn't offer the same type of customer support as most dedicated sportsbooks.
• Fees: Kalshi charges a small percentage fee per trade and a flat $2 fee for withdrawals. It's not a massive amount of money, but it could impact you if you're a high-volume trader.
• No ongoing promotions: Aside from the up to $500 bonus for new users (which can also be as low as $15), Kalshi doesn’t offer regular promotions, unlike many online sportsbooks. While the referral bonus is great, you can't get it unless you can convince others to sign up with your link.
• Many markets are long-term plays: On the one hand, predicting the 2028 U.S. Presidential Election is a unique opportunity. On the other hand, it means your money is tied up until the ballots are all counted, which is still more than two years away. If you want to make some long-term predictions, you'll need patience.

Kalshi trade options: Limited but enough

When I sat that the Kalshi trade options are limited, I am not talking about the number of different markets to trade on. Those are seemingly endless. However, every market boils down to a simple YES or NO pick. For seasoned sports betting who are used to teasing the spread or playing prop markets like Alternate Strikeouts, boiling every trade down a black or white option might seem too simple.

Despite the firm YES/NO trading dynamic, I still had a lot of fun finding interesting markets on Kalshi. Best of all, you can still find those player props — they are just structured slightly differently.

For example, here's how the Pitcher Strikeouts market looks on Kalshi for Yankees vs. White Sox. I could tease Gerrit Cole's number up and down, view the current market prices, and buy at the spot where I saw the most value. 

Kalshi sports to trade on: NFL, NBA, & more

When I checked Kalshi today, there were 19+ different sports markets to trade on. All the most popular leagues are there, including the NFL, NBA, MLB, NHL, and MLS. There's also markets for soccer, tennis, golf, cricket, MMA, eSports, motorsports, boxing, rugby, lacrosse, and even chess. 

Each category expands when you tap it. For example, picking the 'Soccer' market lets you view close to 50 difference leagues and competitions from around the world, featuring both domestic leagues and international or continental competitions. 

I used the World Cup markets to trade extensively on soccer matches throughout the summer. Now that the World Cup has finished, I am sticking with MLB games until the new football season starts. 

Kalshi culture markets to trade on: Politics, Oscars, & more

One of Kalshi's primary marketing slogans in 'Trade On Anything' and they certainly live up to the marketing. Beyond sports, Kalshi has thousands of markets in the following categories: elections, politics, culture, crypto, commodities, climate, economics, mentions, finance, tech, and science. 

In practical terms, that means you can use Kalshi to predict who will win the 2026 U.S. Midterm Elections, the most seached person on Google this year, the next Best Picture winner at the Oscars, or even the opening week box office haul for Avengers: Doomsday.

Here are a few key awards markets and other cultural events available as of July 31, 2026:

Kalshi combos: Work in progress

Parlays (and same-game parlays) have really taken over when it comes to traditional sportsbooks. These types of wagers let you combine multiple picks into a single bet, giving an increased payout if you win (but raising the risks significantly, since missing even a single leg will cause your bet to lose).

Kalshi's attempt to replicate the parlay or SGP experience is Combos. It's the exact same concept, allowing you to combine multiple trades together into a single trade for a larger potential payout if every pick comes through. 

Unfortunately, I found the Kalshi Combos feature to be not fully fleshed out. It does work, but there are limited sports markets available and building my combo on Kalshi didn't feel as intuitive as it does on regular sportsbooks. However, Kalshi only introduced this feature about six months ago. I fully expect it to improve, especially with the 2026-27 NFL season kicking off soon. 

Kalshi trading odds and fees: Solid, not exceptional

Whether I'm trading on sports or any other market, there are two main factors that I need to consider: trading odds and fees. Both have the capacity to cost or save me money, depending on my picks and the platforms I use to make them.

Trading odds

I always recommend shopping around for the best price. So whether you have access to traditional sportsbooks or not, you should always look around to see where you can gain even the smallest of edges.

For example:

• The Yankees are 54% to beat the White Sox tonight. On Kalshi, a $10 trade pays $17.92.
• Over at Polymarket, the Yankees are 53%, meaning my $10 would pay out $18.42.
• On FanDuel, the Yankees are at -124, meaning the same $10 wager pays out $18.06.

At just $10 risked, these differences are minor. However, $0.50 is 5% of my $10 risk, meaning I'm giving away 5% if I trade on the platform with the lowest return. That would be a mistake. 

I found Kalshi's odds to be competitive. There were times that Kalshi offered the highest payout for my picks, but that wasn't always the case. It's always worth checking multiple platforms before making any predictions to ensure you get the best possible pricing. 

Trading fees

Unlike sportsbooks, which bake their profits into the odds via the vig or juice, prediction markets charge trading fees.

Kalshi's maker fee formula is: M x 0.07 x C x P x (1-P), rounded up to the nearest cent. 

Kalshi's taker fee formula is: M x 0.0175 x C x P x (1-P), roundest to the nearest cent.

• P = the price of a contract in dollars (50 cents is 0.5).
• C = the number of contracts being traded.
• M = the multiplier for each contract (default is 1 unless otherwise indicated).

In practice, this means that trading on markets priced close to 50% have the highest fees, while extreme percentages like less than 2% or higher than 98% have zero fees. 

Kalshi's fees average out to about $0.07 per contract and max out at $1.75 per 100 contracts. In simple terms, I found myself paying anywhere between 1% and 5% on my event contracts, depending on the price and how many shares I bought. 

Kalshi customer support: Responsive & smart

Kalshi customer support is limited to email, as live chat is not available. For a quicker response, I joined the Kalshi Discord. You can also try to reach them on their social media profiles.

As a test, I contacted Kalshi support to ask how to obtain my profit and loss statements following the 2026 World Cup. An agent helpfully guided me to the right spot in my account settings to see all of trades, easily outlining my wins, losses, and total net spend. 

Kalshi payment methods: Smooth banking, decent selection

Kalshi accepts several deposit methods with varying limits, fees, and transaction times. Here are your options:

• Debit card: $2,500 maximum every 24 hours with immediate deposit.
• Bank transfer: $10,000 maximum per transaction, taking one to four business days.
• Crypto (USDC): $50,000 daily limit with transactions clearing in 30 minutes, on average.
• Wire transfer: $1,000 minimum cleared on the same day or the next.

Banking fees

Kalshi allows you to withdraw your funds directly to your bank account with no limits or fees in about one to four business days. Debit card and crypto withdrawals are much quicker, taking around 30 minutes on average, but they have a $2,500 max limit. Additionally, debit card withdrawals come with a flat $2 fee.

Kalshi Pro

Kalshi Pro is the latest from the prediction market platform, designed to provide a "desktop trading workstation" for active traders. You won't find Kalshi Pro in the Kalshi app, and the mobile version of the site is not good. There is simply too much information, and many important elements end up overlapping. This is definitely a desktop service.

Before I get further into this, I want to highlight that Kalshi Pro is in beta testing, so I assume many of the issues I mention will be addressed in future versions of the product.

I'm an avid Kalshi user, but I have to say, Kalshi Pro felt very overwhelming. It's not really all that similar to the Kalshi app. While prediction markets are listed across the top, you won't find specific games, and the search tool isn't great.

During my time on Kalshi Pro, I tried searching for props related to the France vs. Spain World Cup semifinal. Typing "France" into the search bar only returned a few results, and I couldn't find Team Totals at all. These props are much easier to find in the Kalshi app.

I also didn't love that I had to purchase a set number of shares rather than being able to make purchases with a set amount. For example, I couldn't just purchase $25 worth of shares for France to score more than 1.5 goals. I had to purchase whole contracts instead, which meant doing some extra math. While some may prefer this, as the number of contracts you purchase is your payout if your contract is correct (25 shares settle for $25 no matter what), I'd like to see Kalshi offer both options.

With my first Kalshi Pro purchase, I bought contracts for France to earn fewer than 4.5 corners against Spain. As you will see below, I typed in corners, then selected what I wanted. Once I did, more options popped up, some of which weren't available in my initial search. Then, I simply typed in the number of shares I wanted and clicked "Review Buy."

Here's a look at the process:

How I trade on popular Kalshi markets

I've already talked about how I traded on MLB games to earn the Kalshi welcome bonus. However, there's so much more to Kalshi than just sports markets. It's one of the best places to make predictions for upcoming elections, the future price of cryptocurrencies, or even what the weather will be like. 

Here I make a series of trades on these markets.

How I trade on Kalshi political markets

Kalshi is one of the few platforms to offer political markets in the United States. The prediction market platform made a name for itself during the last U.S. presidential election, then furthered its notoriety during the recent New York City mayoral race.

Kalshi has dozens of political markets, ranging from election results, future legislation and tariffs, and even Trump's approval rating. It's not limited to the United States, either. You can trade on hundreds of specific markets for international politics too.

Looking ahead, here are a few markets I expect to draw significant trading action on Kalshi:

• Which party will win the U.S. House next year? (Democratic Party/Republican Party)
• Democratic Presidential nominee in 2028? (Gavin Newsom/Alexandria Ocasio-Cortez)
• Which party will win the U.S. Senate next year? (Republican Party/Democratic Party)

Here's a particularly juicy market I traded on: Will Trump be impeached before Jan. 1, 2028?

Kalshi currently says there's a 61% chance of it happening, buoyed by midterm polling suggesting the Democrats could retake the House or Senate (or both) this fall. Unfortunately, this trade won't settle for another 18 months. However, if the odds spike upwards, I may be able to sell my position for a small profit before that.

How I trade on the weather 

Dig a little deeper into Kalshi's prediction markets, and you'll find some truly unique categories. For example, Kalshi lets you trade contracts on multiple weather events.

Most of the available markets are daily predictions for specific cities, such as "highest temperature in New York City today." But you can also go longer term with markets like "number of tornadoes this month" and "rain in NYC this month." 

Here's a simple one: how hot will it get in New York City today? Kalshi offers a 56% chance that the thermometer will max out at 78° or 79° F today in the Big Apple. I bought $10 worth of YES contracts.

The Market Rules for these types of trades will tell you exactly where the temperature is recorded. In this case, it's the highest temperature recorded in Central Park by the daily National Weather Service's Climatological Report.

How I trade on the value of Bitcoin

Think you can predict how high the value of Bitcoin will rise before the end of the year? Kalshi allows you to participate in the Bitcoin value prediction markets. Think Bitcoin will hit $60,000 before it hits $100,000? Then head over to Kalshi to make your prediction. You can also trade on other popular cryptocurrencies, like Ethereum or Solana. 

I don't know much about crypto, admittedly. However, Kalshi offers a whole section on crypto trading and I wanted to check it out. I bought $10 worth of contracts on "Bitcoin at or above $63,700 at 2 PM EST today." 

As I watched the live value ticket, Bitcoin hit just under $64,000 around 1 PM EST but then dropped back down below my contract by about 1:40 PM. This one is going to be a photo finish, I think.

[Editor's note: Bitcoin traded at $63607.95 at 2 PM EST on June 28, 2026, rendering this trade a LOSS.]

Latest trends for trading on Kalshi

Kalshi is the perfect place to trade all the biggest sporting events in the world. Here's a look at the odds for the top events happening this month.

MLB

The only remaining major sport on the go is Major League Baseball. The All-Star Break is over, the trade deadline is looming, and we're entering the Dog Days of Summer. Which teams will push for those Wild Card berths, Division Titles, and, ultimately, a spot in the World Series?

NFL

The new football season is creeping up quickly, with preseason games starting in early August and Week 1 kicking off on September 9. Kalshi has markets for individual games already, but also futures like Win Totals, league awards, Division winners, stat leaders, first coach fired, and even when the Jets will break their playoff drought. 

There are too many markets to list here, frankly. However, here are the favorites to win Super Bowl LXI in February:

Why Kalshi is different from traditional sportsbooks

Prediction markets are a fairly new product, so a lot of my friends are naturally asking me what makes Kalshi different from a regular sportsbooks like FanDuel or BetMGM. 

The differences are subtle, but important, from both a legal and user experience perspective:

Kalshi

• Regulated at the federal level by the CFTC.
• Trade contracts at current market prices.
• Other users buy the opposing sides, similar to buying/selling stocks.
• Can sell positions any time before they resolve.

Traditional sportsbooks

• Regulated at the state level by individual state gaming commissions.
• Bet against the house at fixed odds, which contain built-in profit margins (the "vig" or "juice")
• Your bets are locked in until they resolve (barring any Early Cashout features).

Betting odds vs. Trading percentages

On Kalshi, contracts are priced based on their current probability. If I buy contracts at $0.72 each, the market has determined that the event currently has a 72% chance of resolving that way. This price may fluctuate as new information becomes available.

When I make a bet with a sportsbook, the odds are determined by the bookmaker (aka "the house"). They are presented with a built-in margin, which is why you see events that are always 50/50, like the Super Bowl Coin Flip, priced at -105 instead of the actual even money +100. This way, the sportsbook makes a small profit no matter the outcome.

Exiting positions early

My favorite part about using prediction markets is that I can sell my contracts at any time, assuming there is a buyer. If my contracts have increased in value, I can sell before the event resolves to secure a profit. On the flip side, I can also choose to cut my losses and sell contracts that have since dropped in value. 

Some sportsbooks offer an Early Cash-Out feature. However, it doesn't function quite the same. First, not all bets are eligible to be cashed out and sportsbooks often limit the feature on wagers that look likely to lose. Secondly, the dollar figure they offer to cash out early is usually not a fair market price. Instead, it's a number they hope you will take so they can avoid a larger loss. 

Regulation and legal status

The most important difference between Kalshi and traditional sportsbooks is their respective legal statuses. It's a subtle difference, and one that the average user might not even notice or care about.

Kalshi is federally regulated by the Commodity Futures Trading Commission (CFTC), since event contracts are designated as a financial products. Sportsbooks are regulated by individual state gambling commissions.

Since federal regulation generally supersedes laws from the state level, Kalshi is available in most states that don't have any form of legal online betting.  

Why Kalshi is different from stock and crypto trading

Kalshi combines two existing products into a single, unique platform: traditional betting and stock or cryptocurrency trading.

The traditional financial trading model focuses on investing in specific companies or digital assets like Bitcoin. In these cases, I would actually have ownership of the assets: 100 shares of Apple, for example, or $1,000 worth of Bitcoin. 

Trading on Kalshi is difference, as there's nothing to own. Instead, you are merely purchasing event contracts on real world outcomes, which pay out $1.00 each (if you predicted correctly) or $0.00 each (if you didn't).

How I trade responsibly with Kalshi

Whether you consider it trading on event contracts or just regular ol' gambling, there's one important thing to remember: the risk is losing your money is very real. 

As with any product that involves financial risk, you need to be careful. Always trade within your means, don't overextend your bankroll, and never chase losses. 

Kalshi offers a number of useful responsible trading tools, including timed breaks, deposit limits, and self-exclusion options. They even partner with Birches Health, a leading provider of specialized treatment for modern digital addictions and compulsive behaviors.

I made sure to set up my daily, weekly, and monthly deposit limits when I created my Kalshi account, just as a safeguard. 

Finally, don't hesitate to call one of the national help lines if you feel like you're in over your head: 1-800-MYRESET or 1-800-GAMBLER.

What’s the latest with Kalshi?

Keeping up with the ever-changing landscape of Kalshi (and other prediction markets) is a full-time job. But hey, it literally is my job, so I've done the work to gather all the important information for you and present it here, in one place. 

This section will outline major changes we've made to this page, along with the latest news from Kalshi.

Recent page changes

• July 20, 2026: Removed the Kalshi World Cup Trading section after the final game of the tournament.
• July 22, 2026: Added new Kalshi Pro section, detailing how this new feature works.
• July 24, 2026: Added new Kalshi screenshots and rewrote the promo comparison section to highlight differences between Kalshi, Polymarket, and OG.
• July 29, 2026: Published brand new Kalshi Review section.

Recent Kalshi news

July 2026

-New York state Governor Kathy Hochul and Attorney General Letitia James announced that they have launched a new lawsuit against Kalshi for allegedly “running an illegal gambling operation" in the state.

-A federal judge denies Kalshi's request for an emergency injunction in New York, dealing the prediction company a legal blow in the Empire State. 

-Kalsi and Nevada reach an agreement to keep the prediction market platform out of the state. Kalshi will institute a geofence to keep Nevada residents from accessing it or face fines of $120,000 per day. 

-A Washington court has granted the state's request for a preliminary injunction against Kalshi, temporarily barring the prediction market from offering sports-related events within state lines. The injunction doesn't start until Aug. 5, 2026. 

-Kalshi reports that more than $183 million has been traded on the market for LeBron James' next NBA team. Cleveland and Miami are neck-and-neck as the favorites. 

-Kalshi users traded nearly $1.9 billion in volume on the final game of the 2026 World Cup between Spain and Argentina. The tournament brought in about three million new users to Kalshi during the five weeks it was played. 

-A longtime teleprompter operator in the White House is under investigation after allegedly profiting more than $100,000 on Kalshi by trading on what words President Trump would say during televised speeches. 

-The CFTC orders Kalshi to continue offering sports events markets in Michigan, claiming that the state doesn't have the authority to interfere with prediction market operators.

-Kalshi's sports event contracts will remain banned in Michigan after another court hearing in mid-July. The company must geofence its product in the state by August 12 or face a $500,000 fine. 

-Kalshi launches a beta version of Kalshi Pro. The new service is described by Kalshi as "a desktop trading workstation built for active traders managing dozens of markets at once."

-A federal judge denies Kalshi's request to block New York gaming regulators from enforcing state gambling laws upon it. 

-Kalshi starts blocking users in Michigan to comply with a temporary restraining order issued by Ingham County Circuit Court Judge Rosemarie Aquilin. The order lasts until at least June 13, the date of the next hearing. 

-Kalshi CEO Tarek Mansour defends the risk of insider trading on prediction markets, saying it's a larger risk on the stock market. 

-Michigan announces its exit from the National Council on Problem Gambling (NCPG), in protest of Kalshi being recently added as a member. 

-A new report from NPR suggests that Meta CEO Mark Zuckerberg explored buying Kalshi in 2025, before shifting to develop its own prediction market platform instead. 

June 2026

-Kalshi adds "restrictions" to its platform in Michigan, as a state court grants a temporary two-week restraining order against the prediction market. The court order bars Kalshi from doing business in the state and from advertising itself to potential users. Non-compliance comes with a daily fine of $120,000. 

-Kalshi faces new scrutiny over $300,000 in shares it handed to Donald Trump Jr. when he took an advisory role at the company. At the time, Kalshi was valued at $2 billion; it is now estimated at $22 billion. 

Other prediction market platform promos I recommend

I think Kalshi is the best in the business, but it's far from the only game in town. There are a number of option great options, each with its own welcome promotion to claim.

Here are my picks for other prediction market promos you should check out:

Polymarket - Trade $10, Get $20

I used the Polymarket promo code SBR to claim a $20 welcome bonus after signing up. All I had to do was deposit $10, with no actual trading requirements, to collect the bonus.

OG - Trade $10, Get $10

The OG welcome bonus will get you a simple $10 in bonus funds after making your first trade of $10 or more. I didn't need an OG promo code to get started here, and you won't either. 

DraftKings Predictions - Spend $5, Get $150 Prediction Dollars

DraftKings Predictions isn't quite as fully featured as Kalshi, but I certainly can't argue with its welcome bonus. As long as you're not a previous DraftKings customer (sportsbook, casino, Pick6, DK Horse, etc), you can claim $150 in Prediction Dollars after spending just $5. I was not eligible for this bonus as an existing DK customer. However, I still needed to mention it in case you, my dear reader, are eligible to grab it. You won't need a DraftKings Predictions promo code to claim this deal.