Prediction markets are getting tons of buzz as they are popping up across the United States. You might have heard of Kalshi. What is it? How does it work, and is it the same as online betting? Let’s look at the platform, promo code bonuses, and more.
Kalshi Promo Code
With the Kalshi promo code BNATION, you can earn a $10 bonus! You have to make just $100 in trades to score this bonus.
Register with Kalshi using promo BNATION Must be at least 18 years old. Make your first deposit. Trade at least $100 on sports & politics… Unlock a $10 bonus.As you can see, you need to make a deposit and $100 worth of trades to unlock this bonus. This is why it’s important to check the terms before signing up for an offer. You need to know exactly what to do to earn your promotion.
Signing Up for the Kalshi App
The Kalshi app is available in the Google Play Store and Apple App Store. This means you can use the platform on your iOS or Android devices. It has a 4.7/5 rating with Apple and a 4.6/5 rating with Google.
Visit the Google Play Store or Apple App Store. Search for “Kalshi” in the store. Download the app. Register and verify your identity. Must be at least 18 years old and in a legal state. Make a deposit. Browse prediction markets. Buy your first contract.What is a Prediction Market?
A prediction market is a financial market for real-world events. These include events like sports, award shows, elections, and more. With a prediction market, you buy a YES or NO contract. For each winning contract, you are paid $1. Let’s look at an example. The prediction market below is for which team will be the Pro Football Champion.
As you can see, the graph on the top shows how the market has moved for teams based on how many YES or NO contracts people are buying. You can buy a YES contract for the Rams to win the title for $0.18. If they win, you get $1 for that contract. For a NO contract, you purchase one contract for $0.84. If the Rams fail to win it all, you will get a $1.
You can purchase several contracts. For example, you can purchase 10 YES contracts for the Bills in the example above. That would cost you $1. If the Bills win the championship, you would receive $10. There is a typical $25,000 limit of exposure per market. Higher limits do exist for larger accounts.
Can I Bet on Sports on Kalshi?
It’s not sports betting. Kalshi has prediction markets that include sports and events. You can purchase contracts for specific games, teams to win the championship, and more. Check out some of the examples below for NFL games. In this case, your YES or NO contracts would be selecting a team. In the Atlanta-Tampa Bay matchup, you can buy an Atlanta contract or a Tampa Bay contract. If your contract wins, you win.
How Is This Different Than Sports Betting?
As we have said before, Kalshi is a prediction market platform. You are not competing against the house like you would with a sportsbook. For example, when you place a sports bet, everyone is playing against the house. The sportsbook takes a piece of your bet (vig) for each wager.
On Kalshi, it’s an exchange where people on both sides of the trade meet. It works similarly to a stock. You can exit your position at a fair market value, you won’t get banned for winning, and there is better pricing because there isn’t a cut figured in for the house.
The value of contracts shifts based on how many people are purchasing certain sides of the available events. For example, in the Minnesota at Dallas football game, if a flood of contracts are purchased on Minnesota, you will see the price of the contract go up.
Browse Popular Event Contracts
(Kalshi has prediction markets for leagues like the NBA. Photo: Bill Streicher-Imagn Images)There are tons of prediction markets available on the platform, from sports to politics. You can see events like professional basketball and football games, elections, and award show nominations. Take a look at the type of markets you will see on Kalshi.
There has been some controversy surrounding some of the markets, as you can buy contracts on natural disasters, disease outbreaks, and other events that negatively impact people.
Climate Markets for the temperature, climate change, natural disasters, and more. You can see events like how much snow there will be in Chicago this month. Companies See contracts for events like product launches, earnings calls, and major announcements. For example, you can see markets for what EA Sports will say during their next earnings call. Crypto Markets for price changes and returns of major cryptocurrencies. See contracts for how high Bitcoin will go this year. Culture Check out markets for award shows, music, movies, and more. You can buy contracts like which movie wins best picture at the Oscars. Economics Markets for US debt, tax cuts, GDP growth, and more on the economics front. There are even markets for how low gas prices will be in California this year. Financials Just like a real stock market, there are contracts for the S&P closing price, how much company stocks rise, and more. For example, you can purchase a contract for if Netflix will increase its prices this year. Health Definitely one of the most controversial markets as it includes contracts for disease outbreaks, vaccine approvals, and more. Mentions With Kalshi, there are even markets that make predictions for what people or companies will say. You can see the markets for words Costco will say at its next earnings call. Politics One of the most popular markets on the platform, as it has elections, administration changes, world leader changes, and more. For example, you can buy contracts for who Trump will nominate as Fed Chair. Sports There are sports contracts available for games and events, awards, championship winners, and more. You can buy contracts for NFL matchups. Tech & Science With markets like AI, aliens existing, nuclear reactors, and more, you can see predictions for science and tech this year. World See prediction markets for country relations, where Pope Leo will visit, and more. For example, there are contracts for how many companies will be added to the S&P 500 this year.Kalshi Legal States
Kalshi is accessible in over 40 states. There are a few states that do not allow you to use the platform. Let’s look at the states where Kalshi is NOT LEGAL.
Non-Legal States (Where you cannot use Kalshi) Arizona Illinois Massachusetts Maryland Michigan Montana New Jersey OhioRegulations and laws are up to each state when it comes to the legality of the platform. Keep up with your state laws because there could be changes.
Kalshi Welcome Bonus Compared to Sportsbooks
When it comes to welcome offers and promotions, this is an area where Kalshi falls short compared to sportsbooks. You can earn a $10 bonus for placing at least $100 in trades, but there isn’t much after that. At a sportsbook, there are deposit bonuses, bonus bet offers, odds boosts, profit boosts, and more promotions constantly running.
Where Kalshi does have a leg up is that it is legal in more states. If your state doesn’t have sports betting legalized, it doesn’t matter how many bonuses are available because you can’t claim them.
Depositing and Banking
There are a couple of ways to make deposits with the platform. Take a look at the options below. The minimum deposit is just $1. For withdrawals, users can use ‘Bank Transfer’ when navigating to the ‘transfers’ tab in the app. You can link a bank account to withdraw funds. Withdrawals can take 3-4 days to process.
MethodDepositWithdrawalBank TransferYesYesCryptoYesYesMastercardYesNoOnline BankingNoYesVisaYesNoWire TransferYesNoReferral Program
Yes. You can find a referral link in your profile. You can send this to friends and have them sign up with your unique link. If they end up making at least $100 in trades. You will earn a $10 bonus. Both you and the referral will earn that $10 bonus.
As of now, it doesn’t look like there is a cap on how many people you can refer.
Is Kalshi Legit and Safe to Use?
Yes. Kalshi is the largest prediction market in the world and is a leader in the industry. It was founded in 2018 and has played a huge role in safe, legal, and regulated platforms in the prediction space coming to the market. Check out how a prediction market is regulated, similar to a sportsbook, below.
Kalshi is a Designated Contract Market that is regulated by the Commodity Futures Trading Commission (CFTC). This commission handles trading laws at the federal level.
Contact Kalshi’s Customer Service
There are a few ways to get in touch with Kalshi if you have a question. You can shoot them a support email or reach out on social media. The platform has several social platforms available, like Discord, Facebook, and Twitter.
MethodInfoEmailsupport@kalshi.comHelp CenterVisit Kalshi SiteDiscordCheck out DiscordFacebookFacebook PageX (Twitter)TwitterKalshi Promo Code FAQs
If you want to learn more, check out the most commonly asked questions about Kalshi below.
Does Kalshi have a promo code?
Yes. Use the promo code BNATION, and you will earn a $10 bonus after making your first $100 in trades.
Does Kalshi have sports betting?
No. Kalshi has prediction markets. These are financial markets for real-world events like sports, elections, award shows, and more.
Where is Kalshi Legal?
Kalshi is legal in the following states:
AL, AK, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IN, IA, KS, KY, LA, ME, MN, MS, MO, NE, NV, NH, NM, NY, NC, ND, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.
What is a prediction market on Kalshi?
A prediction market is when you buy YES or NO contracts on real-world events. If you are right with the contract you buy, you get paid $1 per contract. If you lose, you get nothing.
Must be 18 years or older and have a legal, U.S. residential address within the applicable state, D.C., or U.S. territories. Not available in AZ, IL, MA, MD, MI, MT, NJ, and OH.
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