Kalshi
Kalshi Review
Kalshi is a CFTC-regulated US exchange where you trade Yes/No contracts on real-world events — economics, politics, weather, and sports — funded in US dollars. Below: what it is, how to open and fund an account, and how to place a first trade.
W.E.T. is venue-neutral — we cover Kalshi as data, take no bets, and hold no funds. Implied probability is a live market price, not advice. See the methodology.
CFTC
Regulated US exchange
USD
Funded in dollars
18+
Eligible US persons
What Kalshi is
Kalshi is a designated contract market regulated by the CFTC — the same federal regulator that oversees US futures. You trade event contracts that settle to Yes or No against official sources. Because it is dollar-funded and US-regulated, Kalshi is the venue most US traders reach for when they want catalysts like Fed decisions, economic prints, elections, and weather priced as clean probabilities. Coverage, eligibility, and fees change — confirm current terms on Kalshi directly.
How to fund an account
From sign-up to first trade
- 1
Create your account
Sign up with your email, then complete Kalshi’s identity check (KYC). As a CFTC-regulated exchange, Kalshi verifies eligibility before you can fund — have an ID handy.
- 2
Fund in US dollars
Deposit with a linked bank account (ACH) or a debit card. No crypto wallet is required — Kalshi settles everything in dollars, so a deposit lands as buying power directly.
- 3
Find a market
Browse economics, politics, weather, and sports contracts. Each price in cents reads as an implied probability — 63¢ means the market prices the outcome near 63%.
- 4
Place your first trade
Buy Yes or No on the outcome you have a read on. Some positions may be closed before settlement when Kalshi permits and a counterparty is available; fees, suspensions, access limits, and thin or one-sided books can prevent an exit. Start small while you learn the mechanics.
Open a Kalshi account
Fund in dollars and place your first trade. Bonus terms are set by Kalshi and shown at sign-up.
Affiliate disclosure: W.E.T. may earn a referral commission when you open or fund an account through our links. W.E.T. does not execute or alter the venue’s market; verify the current price, rules, and referral terms there. We take no bets, hold no funds, and route no orders — we point you to the venue and it takes over.
What W.E.T. adds on top
A venue only sees its own book. W.E.T. reads Kalshi next to Polymarket, maps each listing to the real-world event, and preserves its venue-specific quote and rules alongside the news driving it. Numerical gaps remain withheld until exact same-outcome identity is confirmed. Start with the event dashboard or the comparison and identity gate.
Answers
Kalshi — FAQ
Is Kalshi legit and regulated?
Kalshi is a CFTC-regulated US exchange (a designated contract market), so it operates under federal oversight and funds accounts in US dollars. Regulation is not a guarantee against loss — prediction markets still carry risk — but it means the venue is a licensed, supervised operator rather than an offshore book.
How do I fund a Kalshi account?
After creating your account and passing the identity check, link a bank account (ACH) or a debit card and deposit US dollars. There is no crypto step — your deposit becomes buying power you can place on any listed market.
Does Kalshi have a referral bonus?
Kalshi runs a referral program that can credit both the new trader and the referrer once the account meets the program’s activity requirement. W.E.T. may earn a referral credit from qualifying activity. Verify the current price, rules, eligibility, and offer terms on Kalshi directly.
What does W.E.T. add if I already trade on Kalshi?
W.E.T. is venue-neutral market intelligence. We map Kalshi and Polymarket listings to real-world events, preserve each venue’s own quote and rules, and show the news catalysts around them. Related listings remain separate until the canonical graph confirms exact same-outcome identity.