Kalshi review

Kalshi is the regulated end of the prediction-market world. It is a US federally designated exchange, it holds customer funds in segregated accounts, and every contract is cleared. In practice that means a much more familiar onboarding experience than crypto-native venues: sign up, verify identity, fund with a card or bank transfer and trade in dollars. Market coverage leans macro and institutional - CPI prints, Fed decisions, jobs numbers, elections, government shutdowns - with a fast-growing sports and culture section. Liquidity is excellent on economic and political headline contracts and reasonable on major sports, but the long tail is quieter than Polymarket. Fees are explicit rather than hidden in the spread: a variable trading fee based on contract price, which is cheapest on very high and very low probability trades. The mobile app is the best in the category. If regulatory certainty matters to you more than market breadth, this is the platform to start with.

Yes/No event contracts priced 1c to 99c that settle at $1, traded on a central limit order book. Contracts are cleared through a registered clearing house. Positions can be closed at any time while the market is open.

Very good on economic releases, political contracts and major sports. Weekly and niche cultural markets can be thin, though market-maker programmes keep most books quotable.

Polished iOS and Android apps. Order entry, portfolio and market search all work well on a phone.

Kalshi is a CFTC-designated contract market with a registered clearing house, which makes it the most conventionally regulated venue in the category.

Settlement follows a published source specified in each contract's rules - government data releases, official results or named authorities. Disputes are handled under exchange rules with a formal process.

Responsive email and in-app support with a detailed help centre.