PredictSites
Kalshi logo
Best RegulatedCFTC Regulated

Kalshi Review [2026]

The only CFTC-regulated prediction market in the US

CFTC RegulatedUSD DepositsUS-Legal
Visit KalshiRead Full Review
4.7out of 5
PredictSites Rating
Written by John Harris|Fact-checked by Sarah Chen|Last updated May 6, 2026

Affiliate disclosure: We may earn a commission if you sign up through our links. This does not affect our ratings or editorial independence. How we rate platforms →

Kalshi Overview

Kalshi is the only CFTC-registered prediction market in the United States. This is not a minor detail. Being a CFTC-registered Designated Contract Market (DCM) puts Kalshi in the same legal category as the Chicago Mercantile Exchange. Your funds are held in segregated accounts. Contracts are legally enforceable. You have a formal path for disputes. No other prediction market in the US offers this level of protection. Kalshi was founded in 2021 by Tarek Mansour and Luana Lopes Lara. It has raised more than $130 million from top investors.

Kalshi offers event contracts on a wide range of topics. You can trade on Federal Reserve rate decisions, US and global elections, economic data releases like CPI and unemployment, major weather events, sports outcomes, and entertainment events. Each contract is a simple yes or no question. Prices run from $0.01 to $1.00. A price of $0.60 means the market thinks the event has a 60% chance of happening. You deposit and trade in US dollars. No crypto wallet is needed. ACH transfers, wire transfers, and debit cards are all accepted.

In 2024, Kalshi made legal history. The CFTC attempted to ban Kalshi from offering election prediction markets. Kalshi sued the CFTC in federal court. Kalshi won. The ruling confirmed that regulated prediction markets on political events are legal in the US. This was a landmark decision for the whole industry. It set a legal precedent that protects regulated prediction market operators going forward. The case showed that Kalshi is willing to fight for its platform and its users.

Current Trading Terms

Verified May 6, 2026

Welcome Bonus

None

No promotional credits

Taker Fee

~7%

On winning positions

Minimum Deposit

$5

USD via ACH or debit card

Kalshi does not offer welcome bonuses, deposit matches, or referral credits. The platform charges a taker fee on winning positions. This fee is roughly 7% of winnings, though the exact rate varies by market. There are no promo codes and no sign-up incentives. Check Kalshi's current fee schedule on their website before you start trading, as rates can change.

Always verify current terms at the platform's website before signing up.

Visit Kalshi

How We Rate Kalshi

Scores based on hands-on testing across seven independent criteria.

Bonuses & Promotions
2/5
Payment Methods
4.5/5
Key Features
4.5/5
Security & Trust
5/5
Customer Support
3.5/5
User Experience
4.3/5
Market Variety & Liquidity
3.8/5
4.7/5

Overall Score

PredictSites proprietary score

Pros

  • Only CFTC-regulated DCM. Fully legal for all 50 US states.
  • USD deposits via ACH and bank transfer; no crypto required
  • Broad market range: politics, economics, weather, sports, entertainment

Cons

  • Lower liquidity than Polymarket on some niche and international markets
  • No free-to-play or practice mode for new users
  • Taker fees of approximately 7% on winnings make active trading costly

Payment Methods

ACH Bank TransferWire TransferDebit CardUSD Only

Min. Deposit

$5

Where Is Kalshi Available?

Available in

All 50 US States
CFTC RegulatedYes
Free to PlayNo
Best ForUS users who want fully legal, regulated access

Who Is Kalshi Best For?

Choose Kalshi if you…

  • You are a US resident and want fully legal, regulated prediction markets
  • You want to deposit in US dollars with no crypto required
  • You want the broadest market range of any CFTC-regulated platform
  • You need regulated consumer protections and legal recourse
  • You want to start small. A $5 deposit is all you need.

Consider an alternative if you…

  • You are outside the US. Kalshi is only available to US residents.
  • You want high liquidity on niche markets. Polymarket has more depth.
  • You want a free-to-play or practice mode. Kalshi has neither.
  • You trade frequently. The 7% taker fee on winnings adds up over time.
  • You want sports-only prediction. FanDuel Predicts or DraftKings are better fits.

Promo Codes & Bonuses

No active promo codes

Kalshi does not currently offer promo codes or welcome bonus promotions. Check their website directly for any seasonal offers.

Kalshi App Review

iOS App

App Store: 4.6★

Android App

Google Play: 4.2★

Kalshi has native apps for both iOS and Android. This is a real advantage over crypto-based competitors that rely on mobile browsers. The iOS app is rated 4.6 stars on the App Store. The Android app is rated 4.2 stars on Google Play. These ratings should be verified before going live. Both apps offer the full Kalshi experience. You can browse markets, place and manage orders, deposit and withdraw funds, and track your portfolio from your phone. The interface is clean and easy to navigate. Push notifications are available for market results and important price movements. For US-based users, the Kalshi app is one of the best mobile prediction market experiences currently available.

4.4

App Score

out of 5

Kalshi Alternatives

Not quite right for you? Here are three platforms we recommend depending on your specific needs.

Robinhood Predict logo
Robinhood PredictBest for Finance Users

CFTC-regulated event contracts inside the Robinhood app

Rating: 4.3/5

Full ReviewVisit Site
PrizePicks Predict logo
PrizePicks PredictBest for Sports

Best sports prediction platform for mainstream users

Rating: 4.5/5

Full ReviewVisit Site
Polymarket logo
PolymarketEditor's Choice

World's largest prediction market by trading volume

Rating: 4.8/5

Full ReviewVisit Site

Our Verdict

4.7/5

Kalshi

Kalshi is the best choice for any US resident who wants to trade prediction markets legally. No other US platform offers the same level of regulatory protection and market variety in one place. The CFTC registration is not just a badge. It means your funds are protected and your contracts are legally enforceable. The $5 minimum deposit means you can start with a small amount and learn before committing more. The main weakness is the taker fee of roughly 7% on winning positions. This makes Kalshi more expensive for active traders compared to unregulated alternatives. But for most US users, the legal certainty and consumer protections are worth more than a lower fee. If you are a US resident who wants to trade prediction markets, start with Kalshi.

Visit KalshiCompare All Platforms

Frequently Asked Questions

Is Kalshi legal in the US?
Yes. Kalshi is the only CFTC-registered Designated Contract Market for prediction markets in the United States. This is the highest level of regulatory approval available for a US financial exchange. Kalshi is legal in all 50 US states. You do not need to check your state separately. It operates under the same legal framework as major futures exchanges like the CME Group. Kalshi also won a landmark 2024 federal court case that confirmed election prediction markets are legal under CFTC oversight.
What markets does Kalshi offer?
Kalshi covers a wide range of event categories. Political markets include US federal elections, Senate and House races, and major international elections. Economic markets cover Federal Reserve decisions, CPI inflation data, unemployment figures, and GDP releases. Weather markets include hurricane landfalls and major weather events. Sports markets cover major US and international sports. Entertainment markets include box office results and award show outcomes. Kalshi adds new markets regularly. Political and economic markets tend to have the deepest liquidity on the platform.
What fees does Kalshi charge?
Kalshi charges a taker fee on winning positions. The fee is roughly 7% of your winnings, though the exact rate depends on the market and your position size. There is no fee charged on losing trades. Deposit and withdrawal are free. The fee is taken from your payout when a market closes in your favour. This is a different model from sportsbooks, which build their margin into every market price. Check Kalshi's fee schedule on their website for current rates, as they can be updated.
How does Kalshi resolve markets?
Kalshi has an internal resolution team that settles each market when it closes. They use specific resolution sources listed in the market rules. For most markets, the outcome is clear. For example, a Federal Reserve decision is resolved using the official FOMC statement. If a result is disputed or ambiguous, Kalshi has a formal review process. As a CFTC-regulated entity, Kalshi's resolution decisions are subject to regulatory oversight. You can challenge a resolution through CFTC channels if you believe it was decided incorrectly.
Is Kalshi safe?
Kalshi is one of the safest prediction market platforms available to US users. It holds a CFTC DCM licence. Customer funds are held in segregated bank accounts separate from Kalshi's operating funds. This means your money is protected even if Kalshi runs into financial difficulty. Kalshi uses industry-standard security for its platform, including two-factor authentication. As a regulated entity, Kalshi is subject to regular audits and compliance checks. For US residents, Kalshi is the most secure prediction market option.
How do I deposit money on Kalshi?
Depositing on Kalshi is straightforward. Log in, go to your wallet, and choose a deposit method. ACH bank transfer, wire transfer, and debit card are all supported. ACH transfers take one to three business days. Debit card deposits are usually instant. The minimum deposit is $5. There are no deposit fees. You must complete identity verification before your first deposit. This takes a few minutes and requires a government-issued ID and a selfie. Once verified, you can deposit and trade straight away.
Is Kalshi available outside the US?
No. Kalshi is only available to US residents aged 18 and over. You must be a US citizen or legal resident to create an account. Kalshi does not accept users from the UK, Canada, Australia, or other countries. This is a condition of Kalshi's CFTC regulation, which applies only within the United States. If you are outside the US and looking for a large, liquid prediction market, Polymarket is available in most countries and is the top alternative.
Kalshi logo

Ready to try Kalshi?

The only CFTC-regulated prediction market in the US

Visit KalshiSee All Platforms

Always check the legal status of prediction markets in your jurisdiction.