Kalshi Promo Code GRINDERS55: $55 for Buccaneers vs. Bears

Updated on 11/8/26

Kalshi
Trade $25, Get $55!
Certain limitations apply. The offer is available to new users only, subject to the terms and conditions at kalshi.com/tc/55. 18+ only. Restrictions and eligibility requirements apply. Event contract trading involves significant risk and is not appropriate for everyone. Please carefully consider if it is appropriate for you in light of your personal financial circumstances. Kalshi products are not available in all jurisdictions. See kalshi.com/regulatory for more information. Not available in AZ, IL, MA, MD, MI, MT, NV, OH, and WA.

The Kalshi promo code is GRINDERS55. Sign up with it, trade $25 within 7 days, and Kalshi gives you a $55 bonus. Your trades don’t have to win. The credit expires 7 days after Kalshi issues it, and the offer isn’t available in AZ, IL, MA, MD, MI, MT, NV, OH or WA.

Jacksonville won 33-10 in Baltimore on Thursday night, and this weekend has three big games. Miami visits Notre Dame on Saturday at 7:30 p.m. ET on NBC. The Buccaneers visit the Bears on Sunday night at 8:20 p.m. ET, and Bills at Vikings closes Week 9 on Monday at 8:15 p.m. ET on ESPN and ABC.

I’m trading all three: Notre Dame, the Bears and the Bills. Below, I share my prices from Friday morning and when each trade settles.

Kalshi Promo Code: Quick Answer

Kalshi Promo Code DetailsCurrent Offer
Kalshi codeGRINDERS55
Welcome bonusTrade $25, Get $55!
Minimum qualifying trades$25 total
Trade requirementWithin 7 days
Winning required?No
Bonus expiration7 days after credit
New users only?Yes
Age requirement18+
Identity verificationRequired
Offer Last Verified OnNovember 8, 2026

How to Claim the Kalshi Promo Offer

Once you’ve entered the Kalshi referral code GRINDERS55, verified your identity, and funded your account, you’ll only need $25 in total trades to unlock the bonus.

1. Open the Kalshi app.
2. Tap Sign Up.
3. Register with your email, Google account, or Apple account.
4. Enter the Kalshi code GRINDERS55.
5. Add your legal name, date of birth, phone number, address, and Social Security number.
6. Upload a photo of your driver’s license or passport and complete the selfie check. Unverified users can browse markets but cannot trade.
7. Open the menu and select Deposit. Kalshi accepts Apple Pay, debit cards, ACH bank transfers, wire transfers, and USDC.
8. Place $25 in total trade volume to trigger your bonus funds.

Kalshi sign-up screen showing the promo code entry window where new users can apply the Kalshi promo code GRINDERS55 before creating an account.

Note: If you want to use crypto, purchase USDC on a wallet like Coinbase and ensure you select the matching asset network (e.g., Base) to avoid lost funds.

How Do I Unlock and Use My Kalshi Bonus Credit?

Once your account is open, two things matter: unlocking your bonus and using it before it expires.

How do I unlock the bonus? Some bonuses arrive on their own, and others need one tap. If yours doesn’t show up after your $25 in trades, open Explore, find your bonus progress card, tap See all steps, then tap Unlock bonus amount.

Where do I see my credit? Open Portfolio, then Predictions, then Credit. On the website, go to Activity, then Credit.

When does my bonus credit expire? Kalshi’s terms say you must use bonus credit within 7 days of when Kalshi grants it. Credit you don’t use in that time expires and is forfeited.

Kalshi grants your credit onUse it by
Saturday, Nov. 7Saturday, Nov. 14
Sunday, Nov. 8Sunday, Nov. 15
Monday, Nov. 9Monday, Nov. 16
Tuesday, Nov. 10Tuesday, Nov. 17

Once my credit lands, I line up my next games so I’m not rushing on day seven.

Kalshi Promo Code GRINDERS55 Terms and Conditions

Here are the key terms for the GRINDERS55 offer. Read Kalshi’s full terms at kalshi.com/tc/55 before you sign up.

Certain limitations apply. The offer is available to new users only, subject to the terms and conditions. 18+ only. Restrictions and eligibility requirements apply. Event contract trading involves significant risk and is not appropriate for everyone. Kalshi products are not available in all jurisdictions.

Curious about more sport exchange offers? I’d point you to our review of the SI Predict signup bonus.

How I’d Use My Kalshi Bonus This Weekend: My 3 Trades

Spread your $25 across a few days and sports. Start with Saturday college football, add Sunday NFL and finish with Monday Night Football. I save long-dated markets, like the 2027 NFL champion, for later, because a contract like that can stay open for months.

I pick markets by when they settle, not only by price. Prices below are from the Kalshi app on Friday, Nov. 6 at 10:15 a.m. ET.

MarketStartsMy side (Yes price)If I put $25 on it*VolumeLatest settlement
Miami vs. Notre DameSat., Nov. 7, 7:30 p.m. ETNotre Dame (71¢)About 35.2 contracts, pays $35.21$1.89MNov. 9
Buccaneers vs. BearsSun., Nov. 8, 8:20 p.m. ETBears (72¢)About 34.7 contracts, pays $34.72$1.72MNov. 10
Bills vs. VikingsMon., Nov. 9, 8:15 p.m. ETBills (63¢)About 39.7 contracts, pays $39.68$1.53MNov. 11

*Pays if my side wins, before fees.

Miami vs. Notre Dame: Notre Dame. I’m backing Notre Dame at 71¢, so I risk 71¢ to make 29¢. ESPN’s schedule lists Miami at No. 1 and Notre Dame at No. 11, yet Kalshi prices Notre Dame as a 70% favorite at home. Its price has risen over the past few days.

Buccaneers vs. Bears: Bears. I’m backing Chicago at 72¢, so I risk 72¢ to make 28¢. The Bears beat Seattle 34-17 on Monday night, and I check the NFL starting lineups before I trade.

Bills vs. Vikings: Bills. I’m backing Buffalo at 63¢, so I risk 63¢ to make 37¢. This is Monday Night Football in Minnesota, and it’s my longest-dated trade, with Nov. 11 as the latest settlement.

Before I pick a market for my first $25, I check when it settles. A game settles in hours. A season-long market can stay open for months.

Kalshi Markets to Trade This Weekend

📅 Time (ET) 🏟️ Market / Matchup 📺 Channel
🏆 Friday, November 6
7:00 PM 🏈 Virginia Tech vs. SMU (CFB Week 10) ESPN
7:30 PM 🏀 76ers vs. Cavaliers (NBA) Prime Video
🏆 Saturday, November 7
12:00 PM 🏈 BYU vs. Utah (CFB Week 10) ABC
3:30 PM 🏈 Alabama vs. LSU (CFB Week 10) ABC
3:30 PM 🏈 Oregon vs. Ohio State (CFB Week 10) CBS
7:30 PM ⭐ 🏈 Miami vs. Notre Dame (CFB Week 10) NBC
7:30 PM 🏈 Georgia vs. Ole Miss (CFB Week 10) ABC
🏆 Sunday, November 8
9:30 AM 🏈 Bengals vs. Falcons, Madrid (NFL Week 9) NFL Network
1:00 PM 🏈 Cowboys vs. Colts (NFL Week 9) Fox
4:25 PM 🏈 Packers vs. Patriots (NFL Week 9) Fox
8:20 PM ⭐ 🏈 Buccaneers vs. Bears (Sunday Night Football) NBC

⭐ marks the games I’m trading. My third trade, Bills at Vikings, is Monday at 8:15 p.m. ET on ESPN and ABC.

🏈 Football and Fall Sports Markets

Current for the 2026 college football and NFL seasons. Revisit in December as the CFP field sets and NFL playoff races tighten.

  1. Trade Probabilities, Not Margins: Kalshi prices outcomes as probabilities. On Saturday’s Miami-Notre Dame market, Notre Dame to win cost 71¢, but Notre Dame to win by more than 7.5 points cost 48¢. The first needs a victory, and the second needs a margin. Read what each contract asks before you trade it.
  2. Know How Prices Move: Football scoring moves in chunks, so one touchdown can move a favorite’s price sharply. A price that drops after a score reflects the new game state, so check the game before you treat it as a discount.
  3. Trade Futures All Season: Division winners, conference titles and playoff berths stay live for months. Enter early on a team you like, then sell if the price moves your way.
  4. Exit Early If You Want To: You don’t have to hold your position until the final whistle. You can sell your contracts at any point, and a sale fills only if another trader buys at your price.

Kalshi NFL Market Probabilities

You can find pro football championship contracts on Kalshi! Here are the latest forecasts:

🏈 Team2027 NFL Champion
SF 49ers15%
CHI Bears14%
BUF Bills13%
JAC Jaguars10%
KC Chiefs8%
CIN Bengals6%
LA Rams6%
DEN Broncos5%
DET Lions5%
SEA Seahawks5%

Market prices/probabilities shown as of November 8, 2026 Subject to change.

We’ve also put together a 2026 NFL Team-by-Team Preview covering coaching changes, personnel moves, and DFS outlook for all 32 teams.

Kalshi Promo Code Not Working? Here’s What to Check

If your Kalshi code isn’t working, check these first:

What if I forgot to enter the code?

Open Explore, tap the menu icon, tap Your rewards, then tap Have a code?. Enter GRINDERS55 and tap Apply.

You have 72 hours from creating your account, and only if no other code is attached.

Kalshi’s Help Center says depositing or trading doesn’t close that window by itself, but your offer’s terms can add rules. I’d add the code before my first deposit to be safe.

Kalshi Promo Code vs. Competitor Bonuses

While Kalshi offers a top-tier sign-up bonus, competitors like Polymarket, FanDuel Predicts, Novig, DraftKings Predictions and ProphetX also run new-user promos.

Use the comparison table below to evaluate current welcome offers, promo codes, and key terms side-by-side.

🏈 Kalshi 🔵 Polymarket 🟦 FanDuel Predicts ⚡ Novig 📈 ProphetX
💰 Signup Bonus Trade $25, Get $55! Deposit $10, Get a $25 Trading Bonus! Get $100 in Bonus When You Trade $1 for 5 Days! Deposit $10, Get $50 in Trade Credits! Trade $40, Get $40!
⭐ Promo Code GRINDERS55 GRINDERS Click our links! GRINDERS ROTOBONUS
💎 Bonus Type Trade & Get Deposit Bonus Trade & Get Deposit Bonus Trade & Get
💵 What You Get $55 Trading Bonus $25 Trading Bonus $100 Bonus in 5 days $50 in Trade Credits $40 Bonus
💳 Minimum Deposit $10 $10 $10 $10 $10
🎯 Primary Focus Sports, Politics & Economics Sports & Politics Sports Prediction Markets Sports Prediction Market Sports Exchange & Prediction Markets
🇺🇸 U.S. Availability AK, AL, AR, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IN, KS, KY, LA, ME, MN, MO, MS, NC, ND, NE, NH, NJ, NM, NY, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WI, WV, WY AK, AL, AR, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IN, KS, KY, LA, ME, MN, MO, MS, NC, ND, NE, NH, NJ, NM, NY, OK, OR, PA, RI, SC, SD, TX, UT, VA, VT, WI, WV, WY AK, AL, CA, DE, FL, GA, HI, ID, MN, ND, NE, NM, OK, RI, SC, SD, TX, UT AK, AR, FL, GA, HI, IL, IN, IA, KS, KY, ME, MA, MN, MO, NE, NH, NC, ND, OH, OK, OR, SC, SD, TX, VT, VA, DC, WI, WY AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY
👍 RotoGrinders’ Rating 4.6/5 4.7/5 4.4/5 4.3/5 4.2/5

Key Takeaway

The Kalshi welcome bonus is one of the simplest offers available among regulated prediction markets. Because qualifying trades only require $25 in total volume, new users can spread their trades across several markets while learning how the exchange works.

Why Use the Kalshi Promo Code GRINDERS55?

I’ve reviewed many prediction market offers, but the Kalshi offer Trade $25, Get $55! is my top pick for getting a low-friction head start. The rollover requirement isn’t the lowest in the industry, but the $55 bonus gives you enough to explore the platform’s different markets before you need to deposit again.

When I first started in prediction markets, that extra trading capital made it much easier to test out unique sports, politics, and economics contracts without putting much of my own money on the line. It’s a simple, low-friction way for new users to get comfortable trading on Kalshi.

How We Verify This Kalshi Offer

✅ Checked the current Kalshi signup flow
✅ Verified the promo code
✅ Confirmed the current bonus amount
✅ Checked the qualifying trade requirement
✅ Reviewed state availability
✅ Checked the current promotional terms
📅 Last verified: November 8, 2026

Deposits and Withdrawals at Kalshi

As a federally regulated prediction market, Kalshi has secure deposits and withdrawals.

Here’s a look at how you can deposit funds so you can make your first $25 in trades and qualify for the Kalshi new customer bonus:

Method Deposit Withdrawals Limits Fees Processing Times
💳 Debit Card/Apple Pay/Google Pay ✅ ✅ $10 min. deposit · $2,500/day max. 2% processing fee may apply Up to 30 minutes
💵 Bank Transfer (ACH) ✅ ✅ $10,000/day max. · $100 min. withdrawal No fees 2-4 business days
🅿️ PayPal ✅ See app $10 min. deposit · U.S. users only · See app for current limits 2% processing fee See app
📲 Venmo ✅ ✅ $10 min. deposit · U.S. users only · See app for current limits First deposit free, then fees vary See app
💲 Cash App ✅ ❌ U.S. users only · See app for current limits Fee applies See app
⚡ Real-Time Payments (RTP) ✅ ❌ See app for current limits See app Within minutes
💰 Crypto (USDC) ✅ ✅ See app for current limits Variable fees Up to 30 minutes
📧 Wire Transfer ✅ ❌ No daily max. · $1,000 min. deposit Bank fees Same or next business day

Remember, you must verify your account before depositing and trading at Kalshi.

You can sell early at any time, and Kalshi pays a variable APY on cash and open positions for accounts holding at least $250.

kalshi deposits screen in the app

Ongoing Promos at Kalshi (November 2026)

The welcome bonus isn’t the only way to get extra value from Kalshi. The platform runs regular promos to keep users engaged, including referral rewards and occasional offers tied to major sporting events and other high-interest markets.

Refer-a-Friend & Earn a $55 Bonus

If you enjoy using Kalshi, the Refer-a-Friend program is an easy way to pick up some extra bonus funds.

Invite a friend to join, and once they complete the qualifying requirements, you and your friend each become eligible for your own $55 bonus credit. The two rewards are independent — your amount doesn’t depend on theirs, and vice versa.

It’s a nice perk if you have friends who are curious about prediction markets and want to try trading alongside you.

How can I refer a friend on Kalshi?

After your first trade and identity verification, open the “invite friends” tab in your account, copy your unique referral link, and send it to whoever you want to invite.

You can also share the Kalshi code GRINDERS55 with your friends so they can claim the same Trade $25, Get $55! welcome offer after their first $25 in trades. Just note they can use one or the other — a referral link or the promo code, not both.

🚨​ The current Kalshi referral code is not the same code you’ll receive when referring a friend.

What Is Kalshi and How Do Event Contracts Work?

Kalshi is a CFTC-regulated prediction market where you trade yes/no contracts on real-world events instead of betting against a sportsbook. Each contract settles at $1 if the outcome happens and $0 if it doesn’t.

Markets cover sports, politics, economics, weather, entertainment, crypto and more. Kalshi is one of the few federally regulated prediction market apps available in the United States.

Kalshi Referral Code GRINDERS for $55 Signup Bonus

Kalshi is one of the few federally regulated prediction market apps available in the United States.

How does a Kalshi contract pay out?

A contract costs between $0.01 and $0.99, and the price shows the market’s implied probability. A 60¢ contract means a 60% chance.

Say you buy a “Yes” contract at 60¢. If the event happens, it pays $1, a 40¢ profit. If it doesn’t, it pays $0, and you lose the 60¢.

One thing I like about Kalshi is that you don’t have to hold your position until the event ends. You can sell your contracts early, take profits, or limit potential losses before the market officially settles.

What does Kalshi charge?

Kalshi charges no settlement fee and no membership fee. For most markets, you pay a trading fee only when your order matches right away. Orders that rest on the order book first usually pay no trading fee.

That trading fee changes with the contract price. It’s highest near 50¢ and shrinks as the price moves toward 1¢ or 99¢. Here’s what a matched order costs for 100 contracts:

Contract priceYou pay for 100 contractsTrading fee
5¢$5.00$0.34
10¢$10.00$0.63
20¢$20.00$1.12
30¢$30.00$1.47
40¢$40.00$1.68
50¢$50.00$1.75
60¢$60.00$1.68
70¢$70.00$1.47
80¢$80.00$1.12
90¢$90.00$0.63
95¢$95.00$0.34

These are estimates for standard orders. I check the fee on the trade ticket before I confirm, since some series have their own fee schedules. You can read the full Kalshi fee schedule.

For deposit and withdrawal fees by payment method, see the Deposits and Withdrawals section above.

What prediction markets can you trade on Kalshi?

Kalshi prediction market about the U.S. confirming Aliens exist

Kalshi lists markets on sports, politics, economics, weather, culture, crypto and more. Many people start with sports, but the other categories are just as easy to trade.

🏆 Sports Markets

You can trade the NFL, NBA, MLB, WNBA, college football, college basketball and more. A game page lists the winner, the spread and the total, and some pages add team totals and props. Season-long markets cover championship futures, season awards and playoff qualification.

Unlike traditional sportsbooks, prices move throughout the game or season as traders react to new information, creating opportunities to enter or exit positions before markets settle.

🏛️ Politics and Elections Markets

Politics is one of Kalshi’s most popular categories. You can trade elections, congressional control, party nominations and government actions.

These markets settle using official data sources and certified election results, offering clear and transparent rules for everyone.

For many Kalshi traders like myself, political markets are a fun way to engage with breaking news, polling data, and legislative developments instead of just following the headlines.

Read more: best political prediction market apps comparison.

🎬 Pop Culture & Entertainment Markets

Sports and politics get most of the attention, but some of Kalshi’s most interesting markets live in the entertainment section. If you follow music, gaming, movies or reality TV, you’ll find many unique contracts, including:

You’ll also find markets tied to box office results, award shows and viral trends. They’re a fun break from sports when you want to trade on something you already follow every day.

🌦️ Weather, Crypto & Economic Markets

You can also trade real-world events tied to the economy, weather and financial markets. For example, you might take a position on inflation reports, Federal Reserve decisions, Bitcoin price milestones or temperature forecasts in major cities.

If you follow economic news, watch crypto or enjoy digging into data and trends, these markets can be just as interesting as the sports board.

Top Non-Sports Prediction Markets on Kalshi Today

🏷️ Sector 🎯 Prediction Event / Contract 👀 What to Watch
🗳️ Elections Which party wins the 2028 presidential election? The 2026 midterms are over, and Democrats won both chambers. The 2028 race is next, and prices move with polling, candidate announcements and campaign news.
🏦 Rates Fed decision on Dec. 9 At its last meeting, the Fed held rates at 3.75% to 4% in a 10-2 vote, and both dissenters wanted a quarter-point hike. As of Nov. 5, Kalshi prices a 25-basis-point hike at 80¢, an implied 80% chance, with no change at 21¢. About $3.6 million has traded on the market. The Federal Reserve announces its next decision on Dec. 9, and prices move with inflation data, jobs reports and Fed speeches.
🏛️ Politics 2028 Democratic Presidential Nominee Gavin Newsom, Jon Ossoff and Alexandria Ocasio-Cortez are among the leading names on Kalshi. Prices can shift with polling, endorsements and campaign developments.
🎬 Culture Oscar Winner: Best Picture Traders back which film takes Best Picture at the next Academy Awards. Prices move with festival buzz, critics’ awards, and the other precursor shows leading up to the ceremony.
🪙 Crypto Will Bitcoin be above $200k by next year? A yes/no market on whether Bitcoin clears the $200,000 mark, an ambitious target well above current levels. Prices react to crypto momentum, ETF flows, and broader macro conditions.
🌎 Climate Will there be an 8 magnitude earthquake in California before 2027? A long-shot market on whether a magnitude-8 quake strikes California before 2027. Settlement relies on official USGS readings.
📈 Economics More tech layoffs in 2026 than in 2025? Traders weigh whether 2026 tech layoffs will top 2025’s total. Prices shift with company announcements, earnings season, and the wider economic outlook.
💵 Finance S&P close price end of 2026? Contracts cover where the S&P 500 finishes the year, split into price bands, and the market settles on Dec. 31. As of Nov. 5, Kalshi prices the 7,800 to 7,999.99 band at 28¢, the 8,000 to 8,199.99 band at 17¢ and the 7,600 to 7,799.99 band at 14¢. Prices move with earnings, Fed policy, and overall market sentiment.
🛸 Tech & Science Will the U.S. Confirm That Aliens Exist? Contracts cover different deadlines, including January 20, 2029. Settlement requires a qualifying official confirmation from the U.S. executive branch.

Kalshi’s contract prices change as traders react to new information. I check the latest quotes, trading volume and settlement rules before I open a position, especially on markets with several possible outcomes.

How does Kalshi compare to sportsbooks and DFS?

Kalshi is a CFTC-regulated exchange where you trade contracts with other users. A sportsbook sets the odds and takes your bet, and a DFS app has you build lineups and compete for prizes. Here’s how the three compare.

Kalshi vs. Sportsbooks vs. DFS

KalshiSportsbooksDFS apps
What you doBuy and sell yes/no contractsPlace a bet at set oddsBuild lineups or pick player props
Who you play againstOther tradersThe sportsbookThe field, or the app on pick’em formats
Regulated byFederal (CFTC)State gambling lawsState laws, which vary
How it paysEach winning contract pays $1Your wager times the oddsPrizes or a payout multiplier
What it costsA trading fee on matched ordersA margin built into the odds (the vig)A rake built into entry fees and payouts
Leaving earlyYou can sell if another trader buysSome books offer a cash outLineups lock as games start
What you can tradeSports, politics, economics, weather, culture and moreMostly sportsPlayer and team performance
Minimum age18+Usually 21+Varies by app and state

Because Kalshi is federally regulated, people in states without legal sportsbooks, such as California and Texas, can use it. Some sports markets are restricted in certain states.

To claim sports betting promos, check out our guide!

Who is Kalshi best for?

Kalshi fits people who want to trade real-world outcomes instead of placing fixed bets. It’s popular with sports fans and traders, and it also attracts analysts and political followers. For me, Kalshi isn’t a replacement for a sportsbook. It’s another tool.

If you already build lineups and read projections, you can apply the same research, probability and risk management to prediction markets. Here’s how I’d choose:

Is Kalshi legal in your state? (November 2026)

Kalshi is a real, federally regulated exchange, and you can use it in most U.S. states. But “legit” doesn’t mean “legal everywhere.” Court orders block some markets in Michigan, Nevada and Washington, and appeals courts have sided with states in Nevada, Ohio, Tennessee, New York and Connecticut. Several states, including Utah and Arkansas, have also sued Kalshi.

Because Kalshi is federal, people in places like California and Texas can use it even though sportsbooks aren’t legal there. Check RotoGrinders’ guides to Kalshi in California, trading on Kalshi in Texas and Kalshi in Florida. Some sports markets may be unavailable in certain states as the rules keep changing.

StatusStatesDetails
✅ Full AccessCA, FL, IL, PA, TX, and othersSports, Politics, Pop Culture, Economics
⚠️ Sports RestrictedAZ, MA, MD, MT, OHPolitics, Pop Culture, Economics (No Sports)
⚠️ Court OrderMISports contracts blocked under a September injunction; Kalshi must geofence them
⚠️ Court OrderWASports, elections, politics, entertainment, culture, tech and science contracts blocked. Economic, climate and commodity markets stay open
🚫 Economics OnlyNVSports, election and entertainment contracts blocked; geofence in place since Aug. 12
❌ States Without the Promo CodeAZ, IL, MA, MD, MI, MT, NV, OH, WAThe offer can’t be claimed. Account access and trading are unaffected where markets are open

State availability last reviewed November 6, 2026. Kalshi checks your location at signup and shows the markets open to you, which is the final answer for your state.

What Are the Latest Court Rulings on Kalshi?

Kalshi says its markets are federally regulated event contracts, and several states disagree. Courts haven’t settled the question, so the picture differs by state.

  • Arkansas (November 2026): On Nov. 4, Attorney General Tim Griffin sued Kalshi in state court, saying its sports contracts are unlicensed gambling under state law. If you’re in Arkansas, check the app for your markets.
  • New York and Connecticut (November 2026): On Nov. 3, the Second Circuit denied Kalshi’s and Coinbase’s requests for injunctions while their appeals continue. That leaves both states free to enforce their gambling laws, though the court hasn’t ruled on the merits. New York’s attorney general is also suing Kalshi for at least $36 billion, and a hearing on his subpoena request is set for Dec. 14.
  • Utah (October to November 2026): On Oct. 20, Utah sued Kalshi, and on Oct. 28 it filed 14 criminal counts against Kalshi and two executives. The CFTC and the Justice Department sued Utah in federal court, with a status conference set for Friday, Nov. 6. After the charges, DraftKings, Fanatics and Robinhood restricted Utah customers. Kalshi and its executives are due in Salt Lake City’s 3rd District Court in December. The charges are allegations that no court has ruled on.
  • Supreme Court (September to December 2026): New Jersey asked the Court on Sept. 2 to review the Third Circuit’s April ruling for Kalshi. Kalshi’s response is now due Dec. 7, and the Court hasn’t agreed to hear the case.
  • Nevada (July to November 2026): After the Nevada Gaming Control Board moved for contempt, Kalshi agreed to a geofence by Aug. 12. The Ninth Circuit ruled against Kalshi on Aug. 28. On Nov. 4, it denied Kalshi’s rehearing requests, and no judge asked for a full-court vote. Kalshi has until Feb. 2, 2027 to ask the Supreme Court to review the case. The geofence covers sports, election and entertainment contracts, while economic and weather markets stay open.
  • Ohio and Tennessee (September to November 2026): On Sept. 25, the Sixth Circuit ruled unanimously against Kalshi. Kalshi asked the full court to rehear the case, and the states’ response is due Nov. 12.
  • Washington (August to September 2026): A court order curtailed Kalshi’s operations, blocking sports, election, politics, entertainment, culture, tech and science contracts. Economic, climate and commodity markets stay open.
  • Michigan (July to September 2026): A September injunction bars sports contracts, with fines of up to $500,000 a day. Election, economics, weather and entertainment markets remain open. The CFTC stepped in on July 14 to protect existing trades.
  • Louisiana and Missouri (October 2026): Kalshi sued Louisiana officials on Oct. 28 and Missouri’s attorney general on Oct. 27 to stop enforcement of state gambling laws.
  • Federal level: The CFTC says it alone regulates these markets and has sued 10 states: Arizona, Connecticut, Illinois, Kentucky, Minnesota, New Mexico, New York, Rhode Island, Utah and Wisconsin. On Oct. 9, it proposed treating sports, politics and weather event contracts as swaps. Public comments on the proposal are due Nov. 18.

Legal developments last reviewed November 6, 2026. This section reflects court filings and rulings through that date.

Kalshi vs. Polymarket: Which prediction market should you choose?

Kalshi and Polymarket US are the two prediction market apps people compare most. Both are CFTC-regulated in the U.S., both offer sports and political markets, and both let you trade event contracts instead of placing traditional bets.

I’d start with Kalshi for the wider range of markets and funding methods. I’d look at Polymarket if I mostly trade from my phone and want a stripped-down app for the biggest markets.

FeatureKalshiPolymarket US
RegulationCFTC-RegulatedCFTC-Regulated
Welcome OfferTrade $25, Get $55!Deposit $10, Get a $25 Trading Bonus!
Funding MethodsDebit card, Apple Pay, Google Pay, bank transfer, PayPal, Venmo, Cash App, real-time payments, wire, cryptoACH, debit card, Apple Pay
Platform AccessWeb & Mobile AppMobile App (Web in beta)
Market SelectionExtensiveGrowing Quickly
Best ForDesktop users and broader market coverageMobile users

Many traders, myself included, keep accounts on both and use whichever has the market or price they want. For a deeper look at the bonuses, fees and market selection, see our Kalshi vs. Polymarket breakdown.

Use Kalshi Ladder, Slingshot and Protected Markets on NFL Games: A Josh Allen Example

Ladder and Slingshot markets are NFL player markets that pay based on a player’s final stat instead of all or nothing, so a player who misses the target can still pay part of your contract. Kalshi added them in October.

Ladder: Every unit of the stat pays the same amount, up to $1.00 per contract. If you hold “No”, you get $1.00 minus the “Yes” payout. Before Ravens vs. Bills on Nov. 1, I opened the Fantasy Ladder for Josh Allen. A $10 trade paid about $0.37 per PPR fantasy point from Sleeper’s scoring, or $25.59 at 70 points, a 2.56x return. That’s about 36.6 contracts at roughly 27¢ each, so the trade breaks even near 27 points. A quarterback who scores less returns less than the $10.

Slingshot: This is Kalshi’s name for escalator markets. Each step pays more than the last, so most of the value sits near the top. On a receptions escalator with a 14-catch maximum, 7 catches pays $0.125 per contract, 10 pays $0.3644, 12 pays $0.6297 and 14 or more pays $1.00.

Where to find them: Open an NFL game, tap Props, choose a player stat, and tap Ladder or Slingshot. They cover receptions, receiving yards, rushing yards and a Fantasy Ladder that pays $0.01 per PPR point, up to $1.00 at 100 points.

Rules to know: The payout isn’t locked in during the game, and you can sell only if another trader buys at your price. Overtime counts, and you can’t add these markets to a combo. If a player doesn’t take part in a play, receptions and yards markets settle at a fair price Kalshi sets (not a refund), and the Fantasy Ladder scores zero.

Check the NFL starting lineups for inactives, and compare stat lines with our NFL player projections and NFL DFS expert rankings. Kalshi’s Help Center has the full rules.

Protected markets: In the Combo builder in the mobile app, you can protect select Yes picks that have a minimum target, such as 1+ touchdowns, before the game starts. If the player plays in the first half, sits out the second half and hasn’t reached the target, the pick settles at a fair price from before kickoff instead of on his final stats.

Protected markets have their own prices, which are usually higher, and standard markets don’t include protection. See Kalshi’s protected markets page.

How do I read Kalshi prices?

A Kalshi price in cents is the market’s implied probability. A “Yes” contract at 70¢ means about a 70% chance of the event happening, and it pays $1 if the outcome happens.

What you pay is the buy price, which is usually a cent or two above the headline chance. The Yes and No prices for the same outcome usually add up to a little more than $1, and that gap is the spread.

What do volume and spread tell me?

Volume is the total traded in a market. More volume usually means a tighter spread, so you lose less just by entering the trade. Here’s what I saw on Nov. 3:

MarketVolumeYes priceNo priceGap (spread)
Jaguars vs. Ravens$1.13M80¢21¢1¢
76ers vs. Pistons$148K53¢51¢4¢

The busier market cost about 3¢ less to enter. High volume tells you a market is liquid, not that its price is right.

What do Top Movers show?

Top Movers sorts markets by their biggest recent price swings, so it shows where traders are reacting to news.

Before Thursday’s game on November 5, the Jaguars’ price jumped from about even to nearly 80%. Baltimore then played without Lamar Jackson, who was ruled out with a thumb injury. Jacksonville won 33-10. I check the NFL starting lineups for news like that before I trade a big mover.

How do prices turn into profit?

Prices show what traders expect, and settlement shows what happened. These three contracts show the gap, before fees:

ContractPriceResultProfit per contract
Jaguars to beat the Ravens (Nov. 5)81¢Jacksonville won 33-1019¢
Brewers to win the World Series (Oct. 27)96¢Milwaukee won Game 5, 4-14¢
Fed holds rates (Oct. 27)95¢The Fed held rates on Oct. 285¢

A contract near $1.00 leaves little room above the price. A mid-priced contract pays more if it wins, but it loses the full price if it settles at $0. Before I use my $25, I check what a contract pays on each side.

⚠️ Trader Tip: High volume tells you a market is liquid, not that its price is correct. Check your own read against it before you trade.

How did Kalshi’s midterm markets settle?

Kalshi settles House and Senate control markets after major media outlets call the result. If they don’t, the market settles on Feb. 1, 2027.

After the Nov. 3 midterms, outlets projected that Democrats won both chambers. Reports say Kalshi settled its House control market for Democrats after those calls came in.

How does Kalshi settle House and Senate control markets?

I read these rules before I put my first $25 on a control market. A close race can stay uncalled for hours, and these markets wait for the calls.

Trading Perpetual Futures on Kalshi

You may have heard of Kalshi’s perpetual futures; these are different from event contracts. A perp tracks the price of an asset, such as Bitcoin or a stock index, and it never expires. You go long if you expect the price to rise or short if you expect it to fall, and you can use leverage.

Kalshi says perpetual futures involve leverage, carry a significant risk of loss and may not be appropriate for all traders.

ComparisonPrediction marketsPerpetual futures
What you tradeA yes/no outcomeThe price of an asset
ExpirationSettles when the event endsNever expires
LeverageNoYes
Ongoing costsTrading feesTrading fees plus funding payments
Main riskLosing what you paid for the contractLiquidation, which can close your position
GRINDERS55 bonus creditWorksDoesn’t work

Is there a Kalshi Perpetuals invite code?

You don’t need an invite code for perpetuals. Once you’re in the app, you can sign up for them. The GRINDERS55 bonus credit only works on prediction markets, not on perpetuals.

Kalshi App Features, Tabs and Navigation

Kalshi App on Google Playstore

Kalshi has apps for iOS and Android, and it also works on the web. The layout is built for quick filtering, so you can find a market without digging through charts. Along the top, you’ll see Markets, Invest, Live, Pro and More, plus a search bar that says “Trade on anything.”

How do I find markets in the Kalshi app?

A row of category tabs sits under the main menu. Here’s what each one covers:

App tabWhat it includes
TrendingMarkets ranked by current attention.
Midterms2026 midterm markets, including House and Senate control and individual races.
ElectionsElection markets.
PoliticsPolitical developments and government actions.
SportsGame winners, spreads, totals and props.
CultureEntertainment markets, such as awards, music and TV.
CryptoCrypto price markets, such as Bitcoin.
CommoditiesCommodity price markets.
ClimateWeather and climate markets.
EconomicsRates and economic data. The Fed decision market lives here.
MentionsMarkets on what companies and public figures will say, such as words on an earnings call, in a speech or at a keynote. Sections include Business, Earnings, Politicians and Trump.
FinanceStock index markets, such as the S&P close price.
Tech & ScienceTech and science markets.

What else can I do in the Kalshi app?

Who does Kalshi partner with? NBA, MLB, NHL, Robinhood, CNN and More

Kalshi has partnered with sports leagues, brokers, media outlets and gaming companies, which has helped bring prediction markets into the mainstream.

To learn how the Kalshi-Robinhood setup works, read RotoGrinders’ guide to DCMs vs. FCMs.

How are Kalshi winnings taxed?

Kalshi profits are taxable income, whether or not you receive a form. The IRS hasn’t issued specific guidance on prediction markets, and Kalshi doesn’t tell you how to classify your gains. I’d talk to a tax professional before I file. This isn’t tax advice.

What tax forms does Kalshi send?

Kalshi sends forms to users who meet IRS reporting thresholds:

  • 1099-INT: interest payments from Kalshi.
  • 1099-MISC: credits and rewards from Kalshi.
  • 1099-B: proceeds from crypto transfers.
  • 1099-DA: digital asset reporting from ZeroHash.

Forms arrive electronically from Zenwork, Kalshi’s tax form provider, so check your inbox and spam folder. You can also find them in the app under Account, then Tax Info. If no 1099 shows up, you probably didn’t meet the thresholds, but you still need to report your income. Kalshi’s Help Center has the details.

How do I see my trading profit and loss?

None of those forms summarizes your event-contract results, so I use the Profit and Loss statement. Go to Account > Tax Info, choose the year and download it. It includes fees and rebates, uses first-in, first-out accounting, and updates on the first morning of each month, so a mid-month check can be behind.

If you also bet at a sportsbook, such as with the Fanatics Sportsbook promo, track those winnings separately.

Kalshi Customer Service Review: how good is support?

My take: Kalshi’s support is built around the app. You get an in-app chat tied to your account, but no phone or text line, and an AI assistant answers first. That works well for simple questions. It works less well when you need a person fast.

What I like

What I’d like to see

Responsible Trading & Risk Management on Kalshi

As a regulated financial exchange, Kalshi prioritizes user protection over endless volume. Instead of generic advice, Kalshi provides built-in, account-level controls to help you manage your funds and exposure.

You can access all of these responsible trading tools directly in the app or on the web under Settings → Responsible Risk Management:

🚨​ Important: Never trade with money you cannot afford to lose. While you can sell your shares early to mitigate losses, a wrong prediction can result in a total loss of the invested capital.


Kalshi Promo Code FAQs

What is the Kalshi promo code?

The Kalshi promo code is GRINDERS55. Sign up with it, trade $25 within 7 days, and Kalshi gives you a $55 bonus. New users in eligible states can claim it.

How do I get the $55 Kalshi bonus?

Sign up with GRINDERS55, verify your identity, deposit at least $10, and trade $25 within 7 days of opening your account. Your trades can be on any eligible prediction market. Kalshi then credits your $55. If it doesn’t show up, open Explore, find your bonus progress card, tap See all steps, then tap Unlock bonus amount.

Does my first Kalshi trade have to win?

No. Your trades only need to total $25. They don’t have to win.

How long do I have to use the Kalshi bonus?

You must use the bonus credit within 7 days of when Kalshi grants it. Credit you don’t use in that time expires and is forfeited.

Can I use a Kalshi promo code from Reddit?

Some Reddit users share Kalshi promo codes and referral links, but there’s no guarantee they’re still active. Using a verified code, like GRINDERS55, from a trusted partner is the easiest way to make sure you qualify for the latest welcome offer.

Where is Kalshi available?

Kalshi is federally regulated by the CFTC and operates in 44 U.S. jurisdictions. Sports contracts are currently restricted in AZ, MA, MD, MT and OH, narrowed in NV, and blocked in MI under a court order. The GRINDERS55 promo code is not available in AZ, IL, MA, MD, MI, MT, NV, OH or WA.

Can I legally trade on sports events using Kalshi?

Sports events availability depends on your location and the specific market. Kalshi operates as a CFTC-regulated designated contract market, but some sports event contracts are restricted by state authorities. Check Kalshi’s current jurisdiction and market-access information before trading.

Can I add the Kalshi promo code after signing up?

Yes. You have 72 hours from creating your account, and only if no other code is attached. Open Explore > Menu > Your rewards > Have a code? The troubleshooting section above has more detail.

About the Author

agrimes
Alicia Grimes (agrimes)