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Kalshi Review
"The leading CFTC-regulated prediction market in the US"
Kalshi is the first CFTC-regulated prediction market exchange in the United States. It offers the widest range of market categories and the deepest liquidity of any regulated US platform, making it the top choice for both beginners and experienced traders.
Overview
Fee Structure
Charges a percentage fee per trade, typically 3% or less. Lower than traditional sportsbook juice.
Fee drag example: A 3% fee means on a $100 trade you pay $3.00 immediately. To break even on a 50/50 market you need to be right roughly 51.5% of the time — before transaction costs compound over multiple trades.
Available Markets
Regulation & Safety
Pros & Cons
Pros
- CFTC regulated and legal in 44+ states
- Deepest liquidity of any US platform
- Widest market categories
- Clean intuitive interface
- $10 welcome bonus
Cons
- Not available in all states
- Fees can add up for high-volume traders
- No crypto deposits
Our Verdict
Kalshi is best for: Beginners and serious traders who want regulated, broad market access. At 3% per trade, factor fee drag into any participation strategy.
Responsible Participation
Prediction markets involve real financial risk. Trading fees erode returns on every transaction. Information asymmetry significantly disadvantages retail participants. Treat these platforms as speculative entertainment — not income or investment. Never trade with money you cannot afford to lose entirely.
If speculative trading is affecting your finances or wellbeing, call the National Problem Gambling Helpline: 1-800-522-4700 (free, confidential, 24/7).