Prediction Markets · Platforms

Kalshi Signup Guide: Account Opening, Fees & Current Offer

By Odds Reference Last Updated: July 15, 2026 Editorial Policy

Current Kalshi Signup Offer

Kalshi's own Refer-a-Friend program

Kalshi runs an in-app Refer-a-Friend program rather than a single public promo code: both the referrer and the new trader receive a trading credit once the referred trader completes KYC and meets a trading requirement within 30 days, up to a lifetime cap shown in the app's Rewards section. Credits must be used within 30 days or they expire, and only profits earned using a credit are withdrawable.

Verified directly on Kalshi's official site/help center as of July 15, 2026. This is Kalshi's own public offer, not an OddsReference promo code — we do not have one (see below).

Go to Kalshi

Advertising disclosure: This page may contain links to third-party platforms. Where OddsReference has an active, disclosed partnership with a platform, we may earn a commission if you click a link and complete a qualifying action — at no extra cost to you. Affiliate status has no bearing on our data, rankings, or editorial conclusions. See our Affiliate Disclosure and Editorial Policy for details.

01 — SIGNUP

How to Open a Kalshi Account

1

Create an account

Sign up with an email address and password on kalshi.com or the Kalshi app (iOS/Android).
2

Verify your identity (KYC)

Provide your Social Security Number, a government-issued photo ID, and proof of US residency. Kalshi is a regulated exchange, so this step is mandatory, not optional — approval typically takes 1-3 business days.
3

Link and fund a US bank account

Connect a bank account for ACH transfer (free, 1-3 business days), or use a wire transfer or debit card (debit carries a processing surcharge — see fees below).
4

Place your first trade

Browse contracts by category, review the current price (which reflects the market-implied probability), and place a market or limit order.
5

Add a referral code, if you have one, within 72 hours

Kalshi's own Refer-a-Friend program requires the referral code to be added before your first deposit and within 72 hours of account creation — add it immediately if you were referred by someone, since it cannot be applied retroactively.

Steps describe Kalshi's standard account-opening flow as publicly documented. Exact screens may change as Kalshi updates its product — always follow the current on-screen instructions.

02 — EDITOR'S SCORE

OddsReference Editor's Score

Our editorial rating across 7 weighted criteria — distinct from the site's data-driven OR Score.

8.2 / 10

Kalshi Editor's Score Very Good

OddsReference editorial rating v1.0.0 · 7 weighted criteria

Fees · 20% weight 8.5/10

No settlement or membership fee; free ACH in/out. Taker fee is formula-based (multiplier × price × (1-price)), capping around 1.75c per contract at a 50c price for most categories — cheap relative to a flat-percentage model. Debit-card funding carries a 2% surcharge.

Market Breadth · 15% weight 8/10

Deep coverage of economics, politics, climate, tech, and finance; sports contracts exist but are the category most affected by the state-by-state legal fight below.

Liquidity · 15% weight 8/10

Strong depth on economics and politics markets (notably Fed rate decisions); thinner on niche or newly listed contracts.

Mobile & UX · 10% weight 7.5/10

Clean central-limit-order-book interface on web and app; functional but not flashy — closer to a brokerage than a consumer betting app.

Funding Options · 15% weight 9/10

Pure USD rails: ACH, wire, or debit card. No crypto wallet or bridging required — the simplest funding path of any major US-facing prediction-market platform.

Payout Speed · 10% weight 7/10

Free ACH withdrawal typically takes 1-3 business days; wire withdrawal is faster but costs $25. No instant-payout option.

Support & Trust · 15% weight 8.5/10

CFTC Designated Contract Market status with segregated customer funds — but the platform has drawn public scrutiny from a January 2026 payout dispute and a February 2026 insider-trading-related trading suspension. Both are documented in our full review.

This is OddsReference's qualitative editorial rating, built from published facts and our own platform review — not a live data feed, and not the same thing as our data-driven OR Score. OddsReference has no affiliate partnership with Kalshi (see our Affiliate Disclosure); a commercial relationship, if one existed, would carry zero weight in this score.

03 — VERDICT

Strengths & Limitations

Strengths

Full CFTC Designated Contract Market (DCM) regulation, with customer funds held in segregated accounts.
Pure USD funding — ACH, wire, or debit card. No crypto wallet, no bridging, no stablecoins required.
Formula-based per-contract fee (capped around 1.75c at a 50c price for most categories) with no settlement or membership fee.
Deep liquidity on economics and politics markets, particularly Federal Reserve rate-decision contracts.
Distribution through Robinhood, Webull, and Interactive Brokers gives an alternate path to trade Kalshi contracts for users who already have a brokerage account.

Limitations

Sports contracts specifically are the subject of an active, unresolved multi-state legal fight — availability can change by state and by court ruling with little notice.
No formal CPA affiliate program; Kalshi's own Refer-a-Friend credits are trading credits, not cash, and expire in 30 days if unused.
KYC is mandatory and can take 1-3 business days, longer than a typical sportsbook signup.
Public controversies in early 2026 (a payout dispute in January, an insider-trading-related trading suspension in February) are documented in our full review below.
Debit card deposits carry a processing surcharge; wire withdrawals cost $25.

Kalshi's strengths and limitations above reflect OddsReference's independent editorial assessment, not a vendor-supplied list.

04 — FEES

What Does Kalshi Charge?

Fee schedule effective July 7, 2026, per Kalshi's published fee schedule.

Fee Type	Amount
Taker (market) order fee	multiplier x price x (1 - price) Multiplier is 0.07 for most categories (higher for select premium categories like crypto). Caps around 1.75c per contract at a 50c price; fees shrink toward the extremes (1c or 99c).
Maker (limit, resting) order fee	25% of the taker fee No fee for a canceled resting order — only charged if the order actually executes.
Settlement fee	None
Account / membership fee	None
ACH deposit	Free
ACH withdrawal	Free Typically 1-3 business days.
Wire withdrawal	$25
Debit card deposit/withdrawal	2% processing fee

Kalshi fee schedule as of July 2026 (effective July 7, 2026). Platforms change fee schedules without much notice — verify current rates on Kalshi's fee schedule before trading.

Run your own numbers with our Fee Calculator, or see the full mechanics in our Kalshi platform profile.

05 — ELIGIBILITY

Where Can You Trade Kalshi?

Availability & Eligibility

Non-sports contracts — politics, economics, weather, crypto, culture — are broadly available to US residents nationwide, subject to identity verification.

Sports-related contracts specifically are restricted or under active legal dispute in the following states:

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Minnesota — Read Before Trading

Minnesota's SF4760, signed May 18, 2026 and scheduled to take effect August 1, 2026, makes it a felony (up to 5 years, $10,000 fine) to operate, host, or advertise a prediction-market platform in the state — reportedly extending to payment processors and advertisers, not just the operator. Kalshi and the CFTC sued the day after it was signed to block it; a federal judge heard arguments on that injunction request July 2, 2026 and had not ruled as of publication, so the felony ban is still on track to take effect unless the court intervenes first. Do not assume this deadline has been pushed back without checking directly.

The federal-vs-state legal fight over sports contracts is genuinely unsettled: a divided Third Circuit panel ruled in Kalshi's favor in April 2026 (CEA preemption of New Jersey's gambling law), while a Southern District of New York judge ruled against Kalshi on a similar theory in July 2026. Kalshi has also won injunctions shielding it in Tennessee, while losing comparable bids in Maryland and Arizona. This is active litigation, not a settled question.

Kalshi's CFTC/federal regulatory status and individual state gambling-law enforcement are two separate legal questions that are currently in active, unresolved litigation in multiple courts. Federal registration is not the same thing as settled legality in every state. This page is not legal advice — confirm your own state's current rules, which can change quickly, before trading. See Kalshi's own help center for the most current state list.

Check your state on the full prediction markets legal tracker →

Kalshi FAQ

Does OddsReference have a Kalshi promo code?

No. OddsReference has no affiliate partnership with Kalshi and does not have or distribute a Kalshi promo code. Kalshi runs its own in-app Refer-a-Friend program (found under Menu > Referrals once you have an account) — the current bonus amount and requirements are shown directly in your Rewards section, since Kalshi varies these terms. Third-party sites advertising specific dollar-amount Kalshi codes are running their own affiliate deals with Kalshi, not ones OddsReference is party to.

How long does Kalshi identity verification take?

Kalshi requires KYC (Know Your Customer) verification before you can trade, typically taking 1-3 business days, though some users report longer waits during high-demand periods. You will need a Social Security Number, a government-issued photo ID, and proof of US residency. This is a regulatory requirement of Kalshi's CFTC Designated Contract Market status, not an optional step.

What states restrict Kalshi?

Non-sports contracts (politics, economics, weather, crypto, culture) are broadly available across the US. Sports-related contracts specifically face restriction or active legal dispute in Arizona, Massachusetts, Maryland, Michigan, Montana, New Jersey, Nevada, and Ohio as of mid-2026. Minnesota's SF4760 goes further, making it a felony to operate or advertise a prediction-market platform in the state starting August 1, 2026 — Kalshi and the CFTC are both suing to block it. This list changes as court rulings come down; verify your state directly with Kalshi before funding an account.

How much does it cost to trade on Kalshi?

Kalshi charges a per-contract taker fee using the formula multiplier x price x (1 - price), where the multiplier is 0.07 for most categories. At a 50c contract price this caps around 1.75c per contract; it shrinks toward the price extremes. Maker (resting limit) orders are charged 25% of the taker fee, and only if they execute. There is no settlement fee and no account fee. ACH deposits and withdrawals are free; wire withdrawal costs $25; debit card funding carries a 2% surcharge.

Is Kalshi legal in my state?

Kalshi is a CFTC-regulated Designated Contract Market federally, which covers non-sports event contracts broadly across the US. Sports contracts are a separate, unsettled legal question fought state-by-state: a divided Third Circuit panel ruled in Kalshi's favor in April 2026 (finding federal law likely preempts New Jersey's gambling law), while a Southern District of New York judge ruled against Kalshi on a similar question in July 2026. Neither ruling is a final, nationwide resolution. Check Kalshi's own current state-availability page before assuming access in your state.

06 — RELATED