Kalshi App Review 2025: Election Betting, Prediction Markets, & More!

Kalshi is a platform where you can trade—basically bet—on the outcomes of real-world events. Think of it as blending your knowledge of current events with the excitement of investing.

Whether it’s predicting changes in gas prices, election results, or even weather patterns, Kalshi offers a unique way to engage with the news and potentially profit from what you know.

As a federally regulated financial exchange approved by the Commodity Futures Trading Commission (CFTC), Kalshi ensures a level of security and legitimacy that’s rare in this space. But is it as straightforward and rewarding as it sounds?

In this Kalshi review, I’ll share my personal experience with the app, from signing up and exploring the markets to making my first trades. We’ll look at how easy it is to use, the types of events you can predict, and whether it’s worth your time and money. Let’s get started!

Kalshi Review: My Experience & Honest Feedback

“After spending some time exploring Kalshi and trying it out for myself, I have to say—it’s a pretty impressive platform.

If you’ve ever wanted to predict the outcome of real-world events like politics, pop culture, or even the weather, and potentially earn real money while doing so, Kalshi offers plenty of exciting options.

Contracts are super affordable, starting at just $0.01, which makes it beginner-friendly and easy to experiment with.

Plus, the fact that it’s regulated by the Commodity Futures Trading Commission (CFTC) means you can trade with confidence, knowing the platform is secure and legit.

That said, it’s not all perfect. If you’re new to event-based trading, there’s definitely a bit of a learning curve to get through.

And while the fees on trades are small, they’re something to keep in mind, especially if you’re planning to trade frequently.

Overall, though, the Kalshi app has a lot going for it and is definitely worth a try!”

– Peyton Powell (iGaming Writer & Editor)

Fact Checked By: Mike McDermott

Pros & Cons

Key Takeaways

• Financial Trading, Not Gambling: Kalshi is not a gambling app. It’s a financial trading platform where users trade on the outcomes of real-world events. Instead of relying on luck, you’re making informed predictions based on actual events and trends.
• How It Works: On Kalshi, you buy and sell event contracts, which are essentially shares of “yes” or “no” options based on whether an event will happen or not.
• Regulated and Legal Across the U.S.: Kalshi operates under the oversight of the Commodity Futures Trading Commission (CFTC), making it fully regulated. It’s also legal to use in most U.S. states, giving users peace of mind about its security and legitimacy.
• Fees on Trades: Kalshi charges a small fee (anywhere from $0.07 to $1.75 per 100 contracts) based on a percentage of your expected earnings on individual trades. While these fees are pretty low compared to other prediction market websites, they are something to consider if you’re planning to trade often.
• Interest on Your Funds: Kalshi offers a variable interest rate of 3.95% on your funds, calculated daily. This is an added benefit, especially if you’re holding funds in your account for a while.

What Is Kalshi? A Quick Introduction & Overview

Kalshi is a prediction market platform that lets you trade on real-world events using something called “event contracts.” These contracts allow you to bet on the outcomes of a wide range of events, from political developments to pop culture predictions, and everything in between.

Rather than traditional stock trading, Kalshi lets you speculate on what might happen in the world—whether that’s how high Bitcoin’s price will rise this year, which movie will win the Oscar for Best Picture in 2025, or even who will become the next president of the United States.

How Does Kalshi Work? A Guide to Buying & Selling Shares

Once you’re on Kalshi, you’ll see a wide range of event contracts available to trade.

Each event offers you the opportunity to buy shares in either outcome (yes or no), with the price reflecting the market’s current view of the probability of that event happening. The price you pay for each share tells you what the market thinks is likely to happen.

Let’s break this down with a real example. You can currently predict whether President Donald Trump will be impeached again. You’ll see that the “Yes” shares are priced at 37 cents, while the “No” shares are priced at 67 cents.

This means the market sees a 37% chance of impeachment happening and a 67% chance it won’t. The prices don’t add up to 100% due to market spread—a small difference between buyers’ willingness to pay and sellers’ asking prices, which accounts for some market uncertainty.

Once you’ve bought shares, you can decide to hold onto them or sell them before the event outcome is determined. The price of your shares can fluctuate as the market’s sentiment shifts based on new information or developments.

If you think the market’s perception of the event is moving in your favor, you can sell your shares for a profit. However, if the market has shifted against your prediction, you might choose to sell at a loss in order to minimize your risk.

If you decide to hold onto your shares until the event outcome is known, you’ll either receive $1.00 per share if your prediction is correct or $0.00 if it isn’t. This “win or lose” system makes it simple: when you’re right, you’re rewarded; when you’re wrong, you lose your investment.

Kalshi Sign Up Bonus & Promo Code: $25 Bonus + $25 Referrals

Kalshi doesn’t offer the typical sign-up bonuses you might be used to with traditional sportsbooks or online casinos, but it does have a referral program that’s worth checking out.

When you sign up today using someone else’s referral link and trade at least 100 contracts in your first 30 days, you’ll get a $25 bonus.

The good news is, the bonuses don’t stop there. Once you’re signed up, you can refer your own friends to Kalshi. Every time someone you refer registers and trades 100 contracts in their first month, you’ll earn another $25 bonus.

It’s not the flashiest welcome bonus I’ve come across, but it’s a simple way to make some extra cash—especially if you know people who’d be interested in trading predictions on current events.

Banking Options: Understanding Fees, Pricing, and Commissions

If you’re anything like me, you’re probably wondering how Kalshi makes money. Well, it’s through transaction fees on the expected earnings of the contracts you trade.

The exact fees can vary depending on the contract, but overall, I found them to be reasonable and generally lower than what you’d see with many competitors (like PredictIt). You can find the full breakdown of Kalshi’s fees and how they’re calculated here.

Fortunately, the platform doesn’t charge any settlement or processing fees, but there is a flat $2 fee for all withdrawals via bank transfer. If you’re withdrawing in cryptocurrency (USDC), the fees are variable depending on the amount, but they’re generally quite low.

Overall, the banking setup is straightforward, with no hidden fees, and plenty of banking options to suit different preferences. You can check out the tables below for a full list of Kalshi’s deposit and withdrawal methods!

Deposits

Payment Method	Min. Deposit	Max. Deposit	Processing Time
Debit Card	$10	$2,500 Daily	Immediate
Apple Pay	$10	$2,500 Daily	Immediate
Bank Transfer	$10	None	3-4 Business Days
Crypto (USDC)	$10	$500,000 Daily	< 30 Minutes
Wire Transfer	$1,000	None	< 1-2 Business Days

Withdrawals

Withdrawal Method	Max. Withrawal	Payout Time	Fees
Debit Card	$2,500 Daily	< 30 Minutes	$2.00
Bank Transfer	None	3-4 Days	None
Crypto (USDC)	$2,500 Daily	< 30 Minutes	Vary (Depending on Amount)

What Is the Interest Rate of Kalshi?

One of my favorite features of Kalshi is the ability to earn interest on your investments. They offer a 3.95% variable interest rate, which is calculated daily based on your available funds and the portfolio value at the end of the day, using the last traded prices.

Interest is paid monthly, typically within the first week of the following month, though it can take up to 10 business days to process. To qualify, you need a balance of at least $250 and must have deposited through Kalshi Klear.

Keep in mind, the interest rate is subject to change, so it’s worth checking in from time to time.

Kalshi Betting Options & Prediction Markets

One of the things I really appreciate about Kalshi is the wide range of prediction markets available. There’s not just one category to focus on—there’s something for everyone, from politics to pop culture, and even climate change.

What’s great about this is that it keeps things interesting and helps me stay up-to-date with what’s happening in the world. Let me walk you through some of the categories I’ve explored and what you can expect:

Politics

Politics is one of the markets that grabbed my attention right away. There are predictions for everything from elections to court cases to potential government shutdowns.

In fact, I was first introduced to Kalshi during the 2024 U.S. Presidential Election. I managed to get some decent odds on Donald Trump, and the app was also great for keeping up with public sentiment and the latest developments in the race.

Economics

The economic markets on Kalshi are also pretty interesting. If you like to keep track of inflation, gas prices, or interest rate changes, this is the place for you.

You can predict things like GDP growth or how the price of oil will fluctuate over time. It’s a fun way to follow economic news and engage with it more actively, especially if you have a good sense of where the market’s headed.

Culture

If pop culture is more your speed, you’ll find plenty to enjoy here. Kalshi offers markets for predicting which TV show will win an Emmy or who will top the Billboard Hot 100. They even had a market predicting when GTA 6 would finally be released.

It’s a fun way to make predictions about things you’re already following, and it adds an extra layer of excitement to events that you may have already been watching anyway.

Climate

Kalshi also offers markets focused on climate-related events. This includes predictions about the strength of hurricanes, how hot it will get in certain cities on a given day, or how many tornadoes will be reported in a season.

Sports

Unfortunately, unlike some other prediction market platforms, doesn’t offer predictions on individual sporting events, so you can’t bet on who’s going to win the Super Bowl or the World Cup (for example).

I was a bit disappointed at first since I’m a big sports fan, but there are still some interesting sports-related event contracts available. For example, you can bet on things like who will be the next head coach of the Dallas Cowboys or whether the NBA will add another team before 2030.

Other Prediction Markets & Event Contract Options

• Financials
• Crypto
• Tech & Science
• Health
• Companies
• World
• Transportation

Is Kalshi Legit? Safety, Security, & Legality Explained

Yes, Kalshi is a legitimate platform. It lets users buy and sell event contracts, a form of financial trading that’s fully legal under U.S. law.

Kalshi is actually the first exchange of its kind to be approved by the Commodity Futures Trading Commission (CFTC), which oversees its operations and ensures it follows all necessary regulations.

On top of that, Kalshi is a member of the National Futures Association (NFA), which adds another layer of credibility and trust.

The platform also takes your safety seriously, using strong security measures like encryption and secure logins to protect your personal and financial information.

Kalshi works with respected financial institutions to securely manage funds and complies with anti-money laundering (AML) and know-your-customer (KYC) regulations to make sure only legitimate users can trade.

By sticking to well-established legal frameworks, including the Commodity Exchange Act, Kalshi provides a safe and regulated space for trading on real-world events. As a result, you can trade with confidence, knowing Kalshi operates transparently and within the law.

Lastly, one key thing to note is that Kalshi is not categorized as a gambling platform. It focuses on event-based financial trading, which is different from traditional gambling like sports betting or online casino games.

*Note: State gambling authorities in Nevada, New Jersey, and Ohio have all issued cease and desist letters to Kalshi in 2025. Stay tuned, as other states may choose to follow suit in the coming months/years.

Kalshi Mobile App Experience & User Feedback

You can currently access Kalshi’s prediction market platform via its website or mobile app, making it easy to trade anytime, anywhere.

During my review, I tested out the Kalshi app on my iPhone, and I have to say, I was really impressed with how smooth the experience was. The design is sleek and user-friendly, and everything is organized in a way that makes it easy to find what you’re looking for.

Layout & Features

At the bottom of the app, there are four main tabs:

1. Explore: This is where you can check out the latest event contracts and prediction markets that are available. It’s great for staying up-to-date on what’s new.
2. Search: If you’re looking for specific markets or users, this tab has you covered. It also highlights the “Trending” markets and shows you the “Biggest Movers,” so you can quickly see what’s catching attention.
3. Funds: This tab lets you deposit funds into your account, making it super easy to add money when you need to.
4. Ideas: My personal favorite! In this section, you can actually create your own prediction markets. If your market idea follows the platform’s guidelines and gets enough interest, Kalshi will add it to the marketplace for others to trade on.

There’s also a “More” tab where you can access account settings, get customer support, and find other options. One of the features I really liked is the “Watchlist,” where you can save markets you want to keep an eye on—whether you’re waiting for a price to hit a certain point or just want to track something.

And for those who prefer a darker interface, there’s also Dark Mode, which is easier on the eyes, especially during late-night trading sessions.

Performance & Design

As for performance, the app is solid. It’s quick and responsive, and I didn’t encounter any issues like crashes or long loading times.

The design feels modern, clean, and simple to navigate, so you won’t find yourself getting lost in a sea of information. Everything just flows naturally, and it’s clear that Kalshi really put thought into making the app intuitive and easy to use.

Overall, the Kalshi mobile app offers a smooth, enjoyable experience. Whether you’re actively trading or just exploring new markets, it makes it easy to engage with the platform wherever you are.

Ratings for iPhone & Android

How Do I Contact Kalshi Customer Support?

Kalshi offers plenty of ways to reach out for help:

1. Live Chat: Available during trading hours (8:00 am ET until 3:00 am ET), live chat is a quick and easy way to get support. It’s available to users who are logged in and have made their first deposit.
2. Phone Support: If you prefer to speak directly with someone, you can call 332-205-9910.
3. Email Support: You can also email [email protected] for assistance.
4. Discord Group: Join Kalshi’s Discord group to chat with other users, ask questions, and receive tips directly from the community or Kalshi’s team.
5. FAQ Page: Kalshi has a comprehensive FAQ page that covers common questions about registration, deposits, withdrawals, trading, market rules, and more.

During my review, I tested out the live chat feature and was impressed by how quickly I got a response. The support team was friendly and helpful, providing the information I needed in no time.

Overall, I found Kalshi’s support options to be responsive and user-friendly, whether you’re seeking live assistance, emailing, or browsing the FAQ page.

Comparing Kalshi to Other Prediction Markets: How It Stacks Up

Wondering how Kalshi compares to other prediction market websites and apps? Well, let’s find out! Here’s a quick breakdown:

Kalshi vs Polymarket

Polymarket lets users trade event contracts, including predictions on various real-world events like elections and pop culture, similar to Kalshi. One advantage Polymarket has over Kalshi is the option to trade on individual sporting events, which appeals to fans of traditional sports betting.

However, Polymarket isn’t available in the U.S., and even if it were, it operates with less regulatory oversight than Kalshi. Kalshi, on the other hand, is fully regulated by the Commodity Futures Trading Commission (CFTC) and legal in most U.S. states, which gives users added security and peace of mind.

Kalshi vs PredictIt

PredictIt is mostly centered on U.S. political predictions, so it’s a good option for those specifically interested in politics. While its platform is straightforward, its focus is much narrower than Kalshi’s, which covers everything from pop culture and economics to weather and beyond.

In addition, PredictIt has stricter limits on how many contracts you can trade at once, while Kalshi offers greater flexibility, making it a better choice for more serious traders.

Kalshi vs Crypto.com

Crypto.com’s new sports trading product allows users to make predictions on major sporting events like the NFL Super Bowl and NCAA championships. While it’s still in its early stages, it stands out for integrating cryptocurrency, letting users trade on event contracts using over 350 cryptos.!

Kalshi, however, offers a more diverse range of event categories and is more established in the prediction market space. So, if you’re looking for variety beyond just sports—like politics, pop culture, or economics—Kalshi provides a broader and more reliable platform for your predictions.

Final Thoughts: Is the Kalshi App Worth Your Time?

If you’re looking for a way to predict real-world outcomes and make money while doing it, Kalshi might just be the app for you.

With a wide variety of markets to choose from—whether it’s elections, TV and movie awards, major global events, or anything in between—you’ll always have something exciting to trade on. Plus, you can earn around 4.00% APY on your account balance and holdings, which is a pretty sweet deal if you ask me.

Of course, there are a couple of things to keep in mind. Smaller markets with less traffic can sometimes have liquidity issues, so you might not always get in or out as easily as you’d like.

And while Kalshi’s trading fees aren’t outrageous, they do vary between $0.07 and $1.75 per 100 contracts, so it’s something to think about if you plan to trade a lot.

Overall, if you’re into prediction markets and don’t mind a few small quirks, the Kalshi app can be an exciting and rewarding platform to try out.

Kalshi Betting FAQ