Kalshi in 2026
Kalshi is a US exchange for event contracts: Yes or No contracts priced from 1 to 99 cents that pay $1 if you're right. The CFTC designated it as a contract market in November 2020, so it runs under the same federal regulator as futures exchanges, and it clears trades through its own registered clearing house, Kalshi Klear. Markets cover sports, politics, the economy, crypto, weather and culture, and there's an esports section with CS2, League of Legends and VALORANT.
Who can use it
Kalshi says it's available across all 50 US states, and to people in many other countries under its member agreement. Its country page lists the UK, Canada, Australia and France among the restricted ones. Every account needs identity verification and a confirmed country. Note Nevada: the state's Gaming Control Board won an injunction in April 2026 and shut down Kalshi's sports markets there in July.
Bonus
We don't have a Betrefs code for Kalshi yet. We're working on one, so check back soon. Kalshi runs its own refer-a-friend offers in the app for eligible US users. Under its current terms both people must pass ID verification and the new user must trade $25 within 7 days; the credit varies, and its terms say 70% of participants get $15.
Fees
Takers pay a fee of about 0.07 x contracts x price x (1 - price), rounded up, so it's highest on a coin-flip market. Some markets add a smaller maker fee. Bank deposits and withdrawals are free; debit card deposits cost up to 2% and card withdrawals $2. Your first PayPal deposit is free.
Payments
Debit card (Visa, Mastercard, Discover, Apple Pay, Google Pay), ACH bank transfer, PayPal, Venmo, Cash App, wire transfer from $1,000, and crypto. Outside the US it's card, wire and crypto only.
Trust
A federally regulated exchange with its own clearing house is about as solid as prediction markets get in the US. The risk is legal, not financial: several states argue sports event contracts are unlicensed betting, and Nevada's case has been through an injunction, a contempt motion and the Ninth Circuit in 2026.
Verdict
The safest way to trade predictions in dollars if you're in the US: regulated, funded by card or bank, with real esports markets. Outside the US, check Kalshi's country list first.