Sportsbook Review: Kalshi Review
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Kalshi Review
Kalshi is one of the most talked-about prediction market platforms in the U.S. Users can trade on the outcome of real-world events with market-driven pricing. In this Kalshi review, we explore how the platform works, its growing list of markets, and whether it’s a smart choice for sports and event speculation.
Kalshi lets users trade on everything from the Super Bowl, NBA Finals, and Stanley Cup to political elections and even entertainment events. The platform is designed for flexibility, allowing traders to enter and exit positions easily, with competitive fees and caps for 100-contract trades.
Available on both desktop and mobile across much of the U.S., Kalshi makes it simple to get started. So, is Kalshi worth your time and money? Keep reading for our full Kalshi review, including its key features and market variety, so you can decide whether it’s the right platform for you.
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What Is Kalshi?
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Kalshi Review: Strengths
- Innovative model: Kalshi is a prediction market platform where users can simply choose “yes” or “no” on a variety of sports outcomes. Gain extra insight into the markets by checking out what’s trending, open contract positions by price point, and more.
- Surging popularity: Kalshi debuted sports prediction markets in early 2025. The platform has since attracted substantial interest for tentpole events like the Super Bowl, March Madness, and the Masters, and recently expanded into single games.
- User-friendly interface: On both desktop and mobile, Kalshi is simple to use. You can jump across categories without issue, sort by trending and volatile contracts, lean on the intuitive search feature, and much more.
- Reasonable fees: The trading fees on Kalshi are typically less than 2% per contract. As an example, the fee for a $100 trade is capped at $1.74. This is very reasonable, but there’s also a 2% fee on debit card deposits and $2 fee for debit card withdrawals.
Kalshi Review: Weaknesses
- Promo Offers: Sports bettors have grown accustomed to choosing from numerous promotional offers as the top online sportsbooks compete for their attention. For now, offerings are scant on the promo front at Kalshi.
- Regulatory Pushback: While Kalshi is available across much of the U.S., some states have started to push back and question its legality. The regulatory cloud and legal back-and forth will continue to play out.
- Available Markets: This weakness comes with a caveat as options have been expanding. That said, sports bettors who are accustomed to things like player props and alternate lines won’t find that here.
- Few Banking Options: A few of the major bases are covered, and there's even a crypto option. However, those who prefer methods such as Apple Pay, PayPal, or Venmo are out of luck, at least for now.
Key Features of Kalshi
Kalshi has burst onto the scene with sports prediction markets, providing users with another exciting option for forecasting outcomes. The platform is still a relatively new player on the scene, but several key features of Kalshi are helping it stand out and capture attention.
New Take on Sports Forecasting
Kalshi is a prediction market platform where participants can simply choose “yes” or “no” on a range of outcomes. Initially focused on big events like the Super Bowl and March Madness, offerings have expanded to include single games for major sports. Similar to comparing sports betting odds, users can pick and choose from contract prices for various outcomes.
Surging Popularity and Liquidity
The rise of Kalshi has been a quick one. Since it introduced sports betting contracts, the user base has been continually growing with each new addition. There’s a solid amount of liquidity on the most popular offerings, making it easy for participants to enter and exit positions. Looking forward, there’s nothing to suggest the momentum will slow down.
User-Friendly and Accessible
Kalshi is available on both desktop and mobile for users across the US. After signing up, you can quickly and easily fund your account with transfers, debit cards, or cryptocurrencies. For those new to prediction markets, there’s an outstanding help and FAQ section that can help you get up to speed in no time.
How Do Kalshi Predictive Markets Work?
When you visit Kalshi, there’s a clean menu layout that helps you navigate the available markets. Beyond sports, Kalshi also offers contracts for politics, cultural events, economic data, and much more. For instance, there's a market for, "Who will be named in the Epstein files released this year?" As of Wednesday, Bill Clinton leads the way at a 37% chance, Prince Andrew is next at 34%, and Allan Dershowitz is next at 33%. Even Jay-Z (11%) and Joe Biden (8%) are betting options.
Once you click the sports tab, you can continue browsing through the list of options, such as football, baseball, basketball, and hockey.
Using the NBA as an example, one of the markets available during our test run was on the winner of a playoff matchup.
Markets are based on a $1 settlement for a winning outcome. As such, the listed prices can be interpreted as a percentage chance of an outcome happening, at least as far as trading on the platform is concerned. In this case, 54% believe New York comes out on top, while 47% are leaning toward Detroit.
The total of the two numbers equals 101 - or $1.01 - due to the spread, which is based on user demand. Once the event goes final, the winning side is paid out at $1 per contract, while the losing side gets zero. Kalshi takes a fee based on the market and position size of up to 2%. For a $100 trade, the fee is capped at $1.74.
Odds Shark FinCertified Trust Factors: How We Rank Kalshi
When the experienced Odds Shark team reviews a platform such as Kalshi, we dive deep to get to the bottom of what matters most to players. We take an extensive look at market coverage and available options, ease of use, payment options, security, and much more.
When all is said and done, we grade based on Trust Factors that have been FinCertified. This means that the platform has been put through its paces and received the Odds Shark stamp of approval 
. Here’s how Kalshi stacks up:
| Trust Factor | Rating (1-5) | Details |
|---|---|---|
| Security 🔐 | 5 | CFTC-regulated with trusted payment methods |
| User Experience 🤝 | 5 | Platform is user-friendly for both mobile and desktop users. |
| Betting Options 🤑 | 3.5 | Major sports are covered, lacking props and niche options |
| Bonuses 🎁 | 2 | Minimal options for the time being |
| Payout Speed 💰 | 4 | Quick and easy processing for verified accounts |
Ratings Updated on: October 16, 2025
Kalshi Review: User Experiences
Should You Sign Up For Kalshi?
Sports prediction markets are surging in popularity, and Kalshi is leading the charge. It’s a fantastic option for both new and experienced bettors who are looking for an innovative way to put their forecasting skills to the test.
It’s easy to get started on the user-friendly platform, but the addition of some more payment options would make it that much better. Are you ready to check out Kalshi and see what all of the buzz is about? Sign up here to check out all that it has to offer.
