Kalshi
Kalshi is a CFTC-designated contract market, licensed in 2020 and public since 2021, where users buy Yes/No contracts priced between 1 and 99 cents on sports, economics, politics, weather and culture. Sports made up most of its 2025 revenue, and its markets also power prediction products from brokers and fantasy apps such as Robinhood, PrizePicks and Sleeper. It was valued at $40 billion in an Oct 2026 funding round.
New-user offer
No offer listed right now
Go to Kalshi(opens in a new tab)Terms apply. Must be of legal age in your state. Gambling problem? Call 1-800-GAMBLER.
The short version
What stands out
- Federally regulated exchange with its own clearinghouse
- Pro and college football and basketball, plus baseball, hockey, golf, tennis, MMA and soccer
- $10 minimum deposit; debit card, bank, PayPal, Venmo or crypto
- 18+ eligibility
- Positions can be sold before an event settles
Worth knowing
- Sports contracts blocked in MI, NV and WA (Washington's order also covers elections and culture); appeals courts sided with Utah, Ohio and Tennessee in Sept 2026 (Kalshi has asked for a rehearing in Ohio and Tennessee), Utah filed criminal charges in Oct 2026, and other suits are pending
- Trading fees apply on contracts
- Not available in Canada
Where you can play Kalshi
Offered across the US as a CFTC-regulated exchange, but sports contracts are blocked in Michigan (court order, June 2026; injunction Sept 2026), Nevada (agreement with regulators, July 2026) and Washington (court order, August 2026, which also covers elections, culture and other categories). Kalshi also blocks three California tribal reservations (Sept 2026). A Massachusetts injunction (Jan 2026) was stayed on appeal in Feb 2026, so sports contracts remain live there pending a Supreme Judicial Court ruling. Utah sued Kalshi on Oct 20, 2026, filed criminal charges on Oct 28 and has asked a state court to block it. Litigation is ongoing in other states. Canada is on Kalshi's restricted list.
Kalshi compared
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NFLCFBNBACBB+6States —Min deposit $1No current offer listed
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NFLCFBNBACBB+8States —Min deposit $10New customers who sign up by Nov 15, 2026 can earn up to $150 in FanCash over 14 days, matching their first trade each day (from $2.50 on day 1 to $25 on day 14)
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NFLCFBNBACBB+8States —Min deposit —Deposit $10 or more and receive $50 in trade credits (five $10 credits)
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NFLCFBNBACBB+11States —Min deposit —$25 trading credit for a first deposit of $10 or more, plus $25 more with a referral code (credits can't be withdrawn)
Prediction market
NFLCFBNBACBB+9States —Min deposit $10Trade $40 within 30 days and get $40 in trading credits ($10 on days 1 and 8, $20 on day 15); ends Dec 31, 2026
Kalshi questions
What states is Kalshi legal in?
As of our last check, Kalshi accepts players in 48 states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, West Virginia, Wisconsin and Wyoming. Availability changes, so confirm in the app, which checks your location before you enter.
How old do you have to be to play on Kalshi?
18+ in most states. Accounts for 18- to 20-year-olds default to a $2,500 monthly deposit limit (announced Oct 27, 2026).
What is the minimum deposit on Kalshi?
The minimum deposit is $10.
How do you withdraw from Kalshi?
Kalshi pays out by debit card, ach / bank transfer, paypal, venmo or crypto. Withdrawals usually require identity verification first.
Is Kalshi available in Canada?
No, Kalshi doesn't currently accept players in Canada.
Sources and corrections
Last checked Nov 2, 2026. We build every listing from the sources below and recheck them regularly. If something about Kalshi has changed, let us know.