What is Kalshi? (2026 guide)
Kalshi is a US-based prediction-market exchange and the first to receive Designated Contract Market (DCM) status from the Commodity Futures Trading Commission. That regulatory status makes Kalshi the only prediction-market platform a US resident can use without regulatory ambiguity.
How it works. Users sign up with full KYC, fund a US-dollar account by bank transfer or debit card, and trade event contracts that pay $1 if their predicted outcome occurs and $0 if it does not.
Market focus. Kalshi's most active markets are US economic indicators (Fed funds rate, CPI, unemployment), US politics, and a growing list of cultural and sporting events.
Fees. Kalshi charges roughly 1% per trade, varying by market type. Withdrawals are free.