Kalshi Review
CFTC-regulated event contracts — the US prediction market leader
Available to Florida residents 21+ in all 67 counties — sign-up from Miami takes about 3 minutes.
Kalshi is the most complete prediction market for US traders in 2026. It is the only large US-licensed event contract exchange, has by far the deepest liquidity, and is fully available in Florida. If you can only download one app, this is it.
Scorecard
Enter promo code MIAPREDICTS at signup, then trade $25 in event contracts to unlock the $25 trading credit. New users 18+ in 48 eligible US jurisdictions; terms apply.
- Deepest liquidity in the US
- Fully federally regulated
- Widest market selection
- –Bonus is small vs. DFS competitors
Key features
- CFTC-regulated exchange
- Sports, politics, economics & culture markets
- Available in 48 eligible US jurisdictions incl. FL
- Web + iOS + Android
What is Kalshi?
Kalshi is a federally regulated US event contract exchange overseen by the Commodity Futures Trading Commission (CFTC). Instead of betting against a sportsbook, you trade Yes/No contracts against other users on real-world questions — from 'Will the Heat make the playoffs?' to 'Will the Fed cut rates in December?'. Contracts settle at $1 if Yes wins and $0 if No wins, so the price (in cents) is the implied probability.
Markets and coverage
Kalshi has the broadest US catalog: sports (NBA, NFL, MLB, NHL, college, UFC, F1, golf, tennis), elections, the Fed, inflation, weather, hurricanes, awards shows, box office, crypto prices and more. For Florida residents this is huge — you get full access to FL-specific markets like Heat/Dolphins/Marlins/Panthers outcomes and hurricane landfalls without geofencing issues.
Liquidity and pricing
This is where Kalshi separates itself. Headline markets routinely see seven-figure daily volume and bid/ask spreads of 1–2¢, which is competitive with major sportsbooks. Thin niche markets can still have wider spreads, but for any market you'd actually want to size into, you can get filled.
User experience
The mobile app is clean, fast and has matured a lot in 2024–2025. Charts, order book depth and a portfolio P&L view are all one tap away. The only nit: order entry on illiquid markets occasionally requires a manual price tweak vs a one-tap accept.
Fees, deposits & withdrawals
Kalshi charges a small per-contract fee (typically 1–7% of profit, scaled by price) and zero deposit fees. ACH and debit card deposits are instant up to your daily limit. Withdrawals via ACH are free and arrive in 1–3 business days; instant debit withdrawal is available for a small fee.
Safety and regulation
Kalshi operates under a CFTC Designated Contract Market license — the same regulatory regime as the CME. Customer funds are held in segregated accounts at qualified US banks. This is materially safer than offshore prediction markets or sweepstakes operators.
Welcome bonus
The $25 trading bonus is unlocked after $25 in qualifying event-contract trades. New users should review Kalshi's current terms before trading. There is no high-rollover trap and the bonus is in real trading credit, not site-specific funny money.
Who Kalshi is best for
Anyone in Florida who wants real prediction markets — politics traders, sports fans who want continuously priced contracts on tails and futures, and macro/crypto traders. If you've outgrown sweepstakes apps and want the real thing, this is the upgrade.
Kalshi fees
| Per-contract trading fee | ~1–7% of profit, scaled by price |
| Deposit fee | $0 (ACH and debit) |
| ACH withdrawal | $0 · 1–3 business days |
| Instant debit withdrawal | Small flat fee · minutes |
| Account / subscription fee | None |
Deposits & withdrawals
| Method | Min | Max | Speed |
|---|---|---|---|
| ACH bank transfer | $1 | $25,000/day | Instant deposit · 1–3 days withdraw |
| Debit card | $1 | $5,000/day | Instant deposit · minutes withdraw |
| Wire transfer | $10,000 | No published cap | Same / next business day |
State availability
Kalshi and the MIAPREDICTS bonus are available to verified US residents 21+ in 48 jurisdictions (50 states + DC).
View all eligible states
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- West Virginia
- Wisconsin
- Wyoming
We funded a Kalshi account with $250, placed 40+ trades across sports, politics, crypto and economics markets over six weeks, and tested deposits and withdrawals via ACH and debit card.
Frequently asked
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$25 trading bonus · code MIAPREDICTS
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Sources & references
- 1.Commodity Futures Trading Commission — Event Contracts — CFTC.gov
- 2.KalshiEX LLC — DCM Registration — CFTC.gov
- 3.Kalshi wins court battle to offer election contracts — Reuters
- 4.Prediction markets coverage — Wall Street Journal
- 5.Kalshi & Polymarket coverage — Bloomberg
- 6.National Council on Problem Gambling — 1-800-GAMBLER — NCPG
External links open in a new tab. We cite primary regulatory and major news sources where possible. Citations to trusted regulators (CFTC, SEC, IRS, NOAA, .gov, .edu) are dofollow; commercial outbound links are not endorsements.
Frequently asked questions
Catie Di Stefano has spent 15 years working with online gambling across some of the most regulated and competitive gambling markets in the world.
Starting at Betsson Group in Malta in 2011, she has in recent years worked her way through VIP management, CRM, gamification and marketing leadership across European and North American operations. Catie was a licensed consultancy for Hard Rock Casino in New Jersey, where she held a DGE vendor license and owned the execution of the online CRM program from launch day in 2018.