Kalshi overview: What does it offer and how does it work?
Kalshi is a prediction exchange platform that supports peer-to-peer trading activities. On Kalshi, you can trade on event outcomes, which typically cover financial, sports, economic, political, tech, and cryptocurrency events.
To make a trade on Kalshi, you need to purchase an event contract. You can get a Yes or a No contract, depending on the outcome you predict for a specific event. Each contract will have a price, and the Kalshi prices for a contract are less than $1. So, you might get a contract at $0.30, which also indicates a 30% probability of the event taking place.
For every contract you purchase, an accurate prediction yields a $1 potential payout. For the $0.30 contract, you get a $0.70 profit on each contract you hold. So, if you purchase 100 contracts at $0.30 each, you've spent $30 on contracts, with a $100 potential payout and $70 potential profit after the event settles. However, if your prediction is wrong, you get $0 from Kalshi.
The Kalshi age requirement and verification documents
- Age-restricted access to prevent underage use of the service
- Quick identity verification process
- Accessible in all US states
- Not everyone is comfortable sharing their SSN details
Kalshi isn't just a random prediction market that you can visit in the US. It is a regulated operator whose services align with guidelines issued by the Commodity Futures Trading Commission (CFTC). Most of these guidelines are in place to prevent fraud and ensure the operator remains transparent in all its dealings.
The CFTC also ensures that Kalshi conducts strict Know Your Customer (KYC) verification before allowing any user to join its platform. This KYC rule dictates the Kalshi legal age and who can use it. To verify your age and other information for this process, the operator will request the following:
- Your Social Security Number (SSN): Either the full number or a part of it will be required.
- A Government-Issued ID: Your passport or driver's license can work.
- Phone number: This is also to verify your identity, since you usually need to link a number to an SSN in the US.
- Date of birth: You must provide your age, which the operator then matches against your SSN details.
- Address: To confirm that you're a US resident.
You may also need to provide other documents, and Kalshi will let you know if these are required.
Setting up a Kalshi account
To trigger the identity verification process and confirm that you meet the requirements for the Kalshi legal age, you must first set up an account on the platform. The process doesn't take long, and you can follow these steps to complete it quickly:
- Open the Kalshi website using the link we provide.
- Click the Sign Up button and choose to register with an email.
- Enter your email address and verify it using the code you receive.
- Provide a password, date of birth, and phone number. A code will be sent to your phone number, and you must provide it for verification.
- Enter your Social Security Number (SSN).
- After completing the verification process, the operator will offer a $10 bonus that you can claim after making a deposit and trading a specific amount.
The option to trade Kalshi event contracts becomes available after making your first deposit on the site. We recommend making an initial deposit of at least $10 to get the $10 welcome bonus on the site.
Markets you can trade on Kalshi
Kalshi has several markets available for trading, so you can pick one where you have the most knowledge. The options you can find right now include the following:
- Sports
- Culture
- Commodities
- Elections
- Finance
- Tech & Science
- Climate
- Politics
- Crypto
- Economics
The contracts you find under each category will only focus on related topics, and they're all easy to read and understand. To get you set for what to expect, here are some examples:
| Event | Market | Event contract | Yes contract | No contract |
| BTC price today at 8 am EDT | Crypto | $73,600 or above | $0.68 | $0.33 |
| US-Iran Nuclear deal? | Politics | Before October | $0.52 | $0.49 |
| Men's French Open Winner | Sports | Alexander Zverev | $0.33 | $0.68 |
Fees on contracts at Kalshi
Kalshi has fees on various transactions on its site. Remember, the operator offers a peer-to-peer service, so it needs the transaction fees to make money. In this section, you'll find the different Kalshi fees explained for beginners, so don't skip it:
Trading fees
These fees vary with a contract's potential payout, and Kalshi will charge this fee only if your orders are instantly matched.
Maker fees
These fees apply to any order that becomes a resting order. Orders like this are not instantly matched after they are placed.
Deposit and withdrawal fees
These are fees you have to pay when you make a deposit or withdrawal on Kalshi. Not all payment options charge fees, but you'll incur them on debit cards, cryptocurrency payments, and wire transactions.
For a more in-depth look at the fees and how they affect your trading experience, you can read through our comprehensive Kalshi review.
Conclusion: A safe service with tools to prevent underage access
Kalshi is a regulated prediction market with various checks in place to prevent underage and unauthorized access to its service. Since its services require a financial commitment, the operator only allows individuals aged 18 or older to use them. You'll need to confirm your identity and age using your government-issued ID and Social Security Number (SSN), so there is no way to bypass an authentic verification. This is the same protection applied in sportsbooks and even online casinos, so it’s definitely normal to have a Kalshi age requirement in place, which makes it easy for traders to enjoy the overall experience on the site.
You can get started on Kalshi using the links on this page, which also unlock the site's welcome bonus.
Kalshi legal age FAQs
What is the Kalshi age requirement for new members?
Kalshi requires new members to be aged 18 or older to use its service. You'll have to pass an identity verification during registration to deposit funds and access the full service.
What bonuses are available to individuals who meet the Kalshi legal age requirement?
As a Kalshi member, you'll have the option to claim a $10 welcome bonus after setting up an account. The only other bonus you can find is a referral bonus, which offers a maximum of $1,000. You'll have to share your Kalshi referral code with a friend, and they must enter this code on their account. They will then need to meet the referral requirements for both of you to get a $25 bonus.
Does Kalshi have a mobile app?
Yes, Kalshi has downloadable apps on iOS and Android devices. If you want to use any of these apps, they're available on the Google Play Store and App Store, which makes them safe for your device.