Kalshi Review 2026
The first CFTC-regulated prediction market exchange in the US
Kalshi Overview
The first federally regulated prediction market exchange in the United States
Kalshi is the first federally regulated prediction market exchange in the United States. Designated as a Designated Contract Market (DCM) by the CFTC in 2020, Kalshi allows US residents to legally trade on the outcomes of real-world events — from elections and economics to weather and culture. Backed by investors including Sequoia Capital and Charles Schwab, Kalshi brings traditional finance standards to event trading.
What sets Kalshi apart is its regulatory compliance and transparent resolution. Every contract must be approved by the CFTC before listing, customer funds are held in segregated accounts at regulated US banks, and all outcomes are resolved using objective, predetermined data sources. For US residents, Kalshi is the only legal prediction market option.
How to Get Started
Create Account
Sign up on kalshi.com and complete KYC verification. You will need a government-issued ID and proof of US residency. Approval is typically instant.
Deposit Funds
Deposit via ACH bank transfer (free), wire transfer, or debit card. Minimum deposit is $1. Funds appear in your account within minutes for debit card deposits.
Trade Events
Browse event contracts, buy "Yes" or "No" at the current market price. Contracts pay $1.00 if your prediction is correct, $0 if wrong. Maximum risk is your purchase price.
Key Strengths
What makes Kalshi the safest prediction market for US residents
CFTC Regulated
The only federally regulated prediction market in the US. Designated Contract Market (DCM) status ensures compliance with federal regulations.
Segregated Funds
Customer deposits held in segregated accounts at regulated US banks, separate from Kalshi corporate funds.
Transparent Resolution
Every contract lists predetermined data sources. Economic contracts use official government data, election contracts use certified results.
200+ Contracts
Curated event contracts across politics, economics, weather, finance, tech, and culture. All CFTC-approved.
Institutional Backing
Backed by Sequoia Capital, Charles Schwab, and other top-tier investors. Corporate credibility in regulated finance.
Low Fees
$0.01–$0.07 per contract depending on price. No deposit, withdrawal, or inactivity fees for ACH transfers.
200+ Event Contracts Across Six Categories
Kalshi offers 200+ event contracts across six categories. Every contract must be approved by the CFTC before listing, which means the range is more curated than unregulated platforms but each market is legally compliant.
Politics & Elections
Presidential, congressional, and gubernatorial elections with certified result resolution
Economics
Fed rate decisions, GDP, CPI, unemployment — resolved against official government data
Weather
Hurricane landfalls, temperature records, and seasonal forecasts using NOAA data
Finance
Stock market close levels, crypto price targets, and IPO outcomes
Tech & AI
Product launch dates, regulatory decisions, and industry milestones
Culture
Awards shows, box office records, and major cultural events
Fees & Spreads
Per-contract fee structure with transparent costs
Kalshi vs Polymarket Fees
Different fee structures for different regulatory environments
Kalshi charges upfront per-contract fees. Polymarket charges ~2% on net winnings only.
Safety & Regulation
CFTC regulation and segregated bank accounts provide institutional-grade security
CFTC
United StatesCFTC Oversight
Designated Contract Market (DCM) under federal oversight
Segregated Accounts
Customer funds held separately at regulated US banks
Verified Resolution
All contracts resolved using predetermined official data sources
Institutional Backing
Sequoia Capital, Charles Schwab investment provides stability
Kalshi Pros & Cons
Balanced evaluation based on our hands-on testing
- Pro: CFTC-regulated — the only legal US prediction market exchange
- Pro: Bank deposits via ACH, wire, and debit card
- Pro: Clean, modern trading interface
- Pro: Mobile app available (iOS and Android)
- Pro: Contracts are legally binding event derivatives
- Pro: Strong investor backing (Sequoia, Charles Schwab)
- Con: US residents only (requires KYC)
- Con: Fewer markets than Polymarket
- Con: Lower overall trading volume
- Con: Some contract types still pending CFTC approval
- Con: Fee structure can be complex for beginners
Kalshi FAQ
Is Kalshi legal in the United States?
Yes. Kalshi is the first and only CFTC-regulated prediction market exchange in the United States. It was designated as a Designated Contract Market (DCM) by the CFTC in 2020. All event contracts traded on Kalshi are federally regulated derivatives.
How do I sign up for Kalshi?
Visit kalshi.com and create an account. You will need to complete KYC (Know Your Customer) verification, which requires a government-issued ID and proof of US residency. Verification typically takes a few minutes. Once approved, you can deposit funds and start trading.
What are the fees on Kalshi?
Kalshi charges between $0.01 and $0.07 per contract depending on the contract price. Fees are charged when you buy or sell. There are no deposit or withdrawal fees for ACH transfers. The fee structure is transparent and shown before you confirm each trade.
How does Kalshi resolve contracts?
Kalshi uses objective, predetermined data sources for each contract. For example, economic contracts reference official government data (BLS, BEA), election contracts reference certified results, and weather contracts reference NOAA data. Resolution criteria are defined when the contract is listed.
Can non-US residents use Kalshi?
No. Kalshi is currently only available to US residents who pass KYC verification. International users looking for prediction markets should consider Polymarket, which operates globally without geographic restrictions. See our Kalshi vs Polymarket comparison for details.
Is my money safe on Kalshi?
Kalshi is regulated by the CFTC and must comply with federal financial regulations. Customer funds are held in segregated accounts at regulated US banks. While not FDIC-insured, the regulatory framework provides significant protection compared to unregulated platforms.
Kalshi Verdict
Best For
Not Ideal For
Kalshi is the safest prediction market platform available and the only legal option for US residents. The CFTC regulation, segregated bank accounts, and transparent resolution make it the clear choice for traders who value compliance and fund safety. While it has fewer markets and lower volume than Polymarket, the regulatory protection more than compensates for the trade-off. If you are based in the US, Kalshi is the only platform we recommend.
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