Kalshi Promo Code RATE for $10 Bonus (Verified June 24)

Kalshi is an industry-leading prediction market platform that offers event-contract trading opportunities across a wide variety of real-world events, including sports, elections, news stories, economics and various aspects of pop culture. 

Kalshi bonus code RATE unlocks a welcome offer in which a new Kalshi customer will get $10 in bonus funds credited to their account once they make an initial deposit of at least $1 and make their first $10 in qualifying event-contract trades. 

I was able to claim this bonus in a matter of minutes by following the simple prompts in the account-creation process and providing the requested information. All of which I break down step by step below.

Does Kalshi give you a bonus?

Yes, there is a Kalshi sign-up bonus for new customers accessible with promo code RATE. To qualify for Kalshi promo code RATE, a new Kalshi customer must make an initial deposit of at least $1 after creating their account and entering RATE in the referral code field, and then make $10 in qualifying trades. 

Once you have reached the $10 threshold in trades and those have settled, your $10 bonus will be credited to your account within 24 hours. The $10 bonus will be credited irrespective of the outcome of your trades, and your bonus credits are eligible to be utilized for trades on any markets offered on Kalshi. 

Does Kalshi have a promo code?

Yes, Kalshi has promo code RATE, which provides a new customer with $10 in bonus funds in their Kalshi account once they make their first event-contract trade of at least $10 on the site.

Kalshi promo code details for this week

Kalshi promo code terms and conditions

• The Kashi sign-up bonus is valid through June 2026 and can be used on the World Cup, golf, UFC and political markets.
• Eligible in all states except Arizona, Arkansas, Connecticut, Illinois, Louisiana, Maryland, Massachusetts, Michigan, Montana, Nevada, New Jersey and Ohio.
• New customers must be verified to be physically present in an eligible state at the time of sign-up in order to qualify.
• New customers must use Kalshi promo code RATE at registration to activate this offer.
• New customers must verify their identity through Verify.com via a selfie taken while holding their driver’s license and passport.
• New customers must make a minimum deposit of $1 and must execute $10 worth of event-contract trades in order to trigger the Kalshi sign-up bonus.
• The Kalshi sign-up bonus of $10 is credited once the initial $10 in trades clears, win or lose

How to get your free $10 sign up bonus

The full flow takes about 2 minutes once you have your driver’s license handy:

Why is my code not working?

If your Kalshi referral code is not working, you likely have an existing account or you entered an invalid code. To fix this, ensure you entered the RATE at sign-up or enter it in the Account section before you make your first deposit. This code is valid through June 2026.

Kalshi rewards for existing users

Kalshi does not run ongoing reload bonuses or odds boosts like traditional sports betting sites. Existing users have three ways to earn beyond their daily trading returns.

• You can earn up to $40 for each friend you refer. To do this, find your unique referral code under Account and share it with your friends. They will need to register, fund their account, and complete 100 trades within 30 days. Once done, you both receive a $25 bonus. There is no cap on how many you can refer. The 100-trade requirement is a higher bar than most referral programs, which typically pay out on a first deposit or single qualifying trade. If your friend doesn’t have a personal referral link, they can use the Kalshi bonus code RATE and get the $10 new user bonus instead.
• The Volume and Liquidity Incentive Programs, running through September 1, 2026, reward active traders automatically with up to $0.005 per contract on volume and between $10 and $1,000 daily for placing resting orders on eligible markets. No opt-in required.
• Kalshi also pays 3.75% APY on both cash and open positions for accounts with a balance of $250 or more, with interest accruing daily and paying out monthly.

Kalshi vs Polymarket: Which one is better?

What’s Trending on Kalshi Today (June 23)

Five markets are drawing the heaviest action on Kalshi today, led by the World Cup board and supported by a mix of politics, UAP disclosure, and a live US group-stage matchup.

The 2026 Men’s World Cup winner market remains the center of gravity. France is the current Kalshi leader at roughly 21%, with Portugal, Argentina, Spain, England, and Brazil still clustered behind. Recent World Cup coverage is focused on the live schedule, contender odds, and group-stage movement, which explains why both the outright winner board and individual match markets are carrying the strongest trading activity. The Türkiye vs USA World Cup match rounds out the board, with the US a narrow favorite after early group-stage wins and before its final group-stage test.

The UAP / alien-confirmation market is today’s non-sports standout. Recent headlines around a public UAP forum, newly released UFO files, and continuing disclosure pressure have kept the market active. Traders are engaged, but the board still prices official U.S. confirmation before 2027 as a long-shot outcome at about 11%.

On politics, Karen Bass leads the Los Angeles mayoral market after recent primary and runoff coverage, while Gavin Newsom remains the top name in Kalshi’s 2028 Democratic nominee market as national 2028 positioning picks up.

New users can claim a $10 bonus to use across any event. Sign up with the Kalshi promo code RATE, deposit at least $1, and trade $10 in contracts to unlock the reward, then take a position on the World Cup, the Golden Boot race, or the Fed decision.

Is Kalshi legal?

Yes. Kalshi is legal and operates under full regulatory oversight from the U.S. Commodity Futures Trading Commission (CFTC) as a Designated Contract Market (DCM). The predictions market app has the same legal status held by traditional commodity exchanges. For sports contracts and election betting, CFTC jurisdiction preempts state gaming laws because these are classified as event contracts/derivatives, not gambling.

The app is legally available in over 140 countries through a single global liquidity pool, including major markets like Mexico, Brazil, Germany, India, Japan, and South Korea. However, the app restricts access in approximately 45 jurisdictions, including Canada, the United Kingdom, Australia, France, Poland, Russia, Singapore, Taiwan, Thailand, and Venezuela.

Within the United States, Kalshi operates across all states, though 11 states have issued cease-and-desist orders or restrictions making sports contracts unavailable.

Kalshi legal states and market status

Unlike traditional sportsbooks, Kalshi’s federal CFTC designation means it operates in states where sports betting isn’t legal—including California, where voters rejected legalization in 2022. A federal judge in California recently denied tribal efforts to block Kalshi’s sports contracts, ruling that CFTC jurisdiction applies and the platform doesn’t qualify as gambling under federal law.

Kalshi is currently active with promos in 39 states + DC where. Excluded states include: Arizona, Arkansas, Connecticut, Illinois, Louisiana, Maryland, Massachusetts, Michigan, Montana, Nevada, New Jersey and Ohio.

How Kalshi works

Kalshi lets users trade on the outcome of real-world events through event contracts. In simple terms, you can think of it like making a bet with a friend—except you’re trading against other people on a regulated exchange, not against a sportsbook. The price reflects what the market (other people) thinks will happen, and you can sell your position anytime before the event settles.

Trading is available in a range of categories, including politics, sports, crypto, and economics. Here are a few examples of how Kalshi works: 

• Who will win the 2028 presidential election?
• Pro Football Champion?
• Who will win the World Cup Championship?
• Will Bitcoin be above $100,000 on December 31?
• What will the Fed decision be in December?
• What will Tesla say during their next earnings call?

To participate, you buy a “Yes” or “No” contract that reflects what you think will happen. Each contract is priced between $0.01 and $0.99, representing the market’s consensus probability. 

• A “Yes” contract priced at $0.65 implies a 65% market belief that the event will occur.
• A “No” contract priced at $0.35 implies a 35% belief that it will not.
  

Learn more: How to trade contracts

When the event settles, winning contracts are paid out at $1 each, while losing contracts expire at $0. Profits are simply the difference between your purchase price and the $1 payout, minus Kalshi’s trading fee. Consider the following example: 

• You buy 100 “Yes” contracts on “Inflation above 3% in Q4” at $0.54, for a total cost of $54.
• If the event resolves in your favor, your position settles at $1 per contract, for a $100 total.
• Your profit is $46, less roughly $1.75 in fees, for a net gain of $44.25.

Kalshi charges a $0.01-$0.02 fee per contract, depending on the trade price, with caps in place for 100-contract trades. Trades settle automatically once an event’s outcome is confirmed by a designated third-party source. 

The platform’s structure makes it one of the simplest ways for traders to participate in event-driven markets within a fully regulated framework. For active traders seeking a transparent and compliant option, Kalshi remains a good choice. 

Kalshi sports markets vs. sports betting

Kalshi lets you trade on sports markets with other sports fans. While different, the experience feels similar once you adjust to the different naming conventions and probability instead of the usual sportsbook odds. A key benefit to Kalshi: You can sell your position before the event settles if the market moves in your favor. You can’t do this at a sportsbook. There’s also no cap on winners.

How it works is pretty simple. You buy a contract with a simple Yes or No question priced between $0.01 and $0.99. Pricing is based on the market’s estimated probability. If your sports prediction is correct, the contract pays out $1.

As an example, if you buy a “Will Kansas City win the Pro Football Championship?” contract at $0.53 and they win, you profit $0.47 per contract.

Available sports markets and contracts

Kalshi is all over the news for rapidly expanding its sports offerings. The prediction market covers NFL, NBA, college football, college basketball, MLB, NHL, soccer, tennis, and esports. Kalshi is usually first to market with new contracts, including the World Cup and is the only prediction market to offer individual region contracts, like Spain. Beyond simple game winner contracts, Kalshi offers:

• Spread contracts: This is the spread. Questions like “Will the Chiefs win by more than 3.5 points?” covering point spreads for professional and college football.
• Totals contracts: This is the totals. Questions like “Will the game have over 47.5 total points?” with options for full game, quarter, or half totals.
• Touchdown contracts: This is your props. Player prop markets for anytime touchdown scorer, first touchdown, and multiple touchdowns. Note: passing touchdowns don’t count. Only the player who possesses the ball in the end zone.
• Player stat contracts: Passing, rushing, and receiving yards, plus sacks, interceptions, and other stats.
• Combo contracts – Kalshi’s version of parlays. The “Build Your Combo” feature lets you combine multiple contracts from the same game into a single position. One user reported receiving odds more than 25% higher on a three-leg combo at Kalshi compared to DraftKings.

Kalshi app feedback

Kalshi’s external reviews have mixed results. Mostly complaints about contracts settling (why it’s important to read) and bugs related to the app. The company is more more active on social channels than third-party sites.

They do have an official presence on Reddit at r/Kalshi, though the team appears less active there compared to Discord. Some users have reported slow response times when raising issues through Reddit, with complaints about unanswered emails and support delays. Discord remains the better channel. Reddit is more of a community discussion space where users share experiences.

Apple store: 69K downloads with a 4.7/5 rating

TrustPilot: 75 reviews with a 1.9/5 rating

Discord.gg/Kalshi: 18K members

How Kalshi trading fees work

Kalshi makes money by charging a small transaction fee on trades collected from both the buyer and seller. If you’re coming from sports betting, think of this as Kalshi’s version of the juice—except instead of being baked into the odds, it’s charged transparently on each trade like a brokerage commission.

Most markets on the platform have no fees, but certain event categories do carry a variable fee based on contract price and quantity (100 contracts). The fee formula is: 0.07 × C × P × (1-P), with C being your contract count and P being the price (a 50¢ contract would be 0.5). Because of the P × (1-P) component, fees are highest on contracts priced near 50¢ and lowest near the extremes (1¢ or 99¢). This reflects Kalshi’s approach of charging based on potential profit. A 50/50 contract has the most upside, so it carries the highest fee.

There are two fee types: taker fees kick in when you match an order already on the book, while maker fees (which are lower) apply when your order sits and waits for someone else to fill it. Some markets also have a multiplier that adjusts the standard rate.

Here’s a breakdown of markets with non-standard fees:

Kalshi vs. other prediction market apps

Kalshi currently has the edge in the prediction markets. The combination of interest on balances, sports categories and high position limits makes it the strongest all-around. This is especially true for sports bettors looking to trade significant capital. Here is a breakdown of how Kalshi compares right now to Polymarket, Crypto.com and PredictIt.

• Polymarket offers zero trading fees and the deepest liquidity on political and crypto markets, but US users now have to access it through intermediaries rather than directly. If you’re outside the US or comfortable with the extra steps, it’s hard to beat no fees.
• PredictIt pioneered political prediction markets and still has a loyal user base, but the $850 position cap and 10% profit fee make it impractical for anyone trading more than small amounts. It’s best suited for casual political junkies who want skin in the game.

Kalshi deposit and withdrawal options

Getting money into Kalshi is easy with five deposit options. If you want to avoid additional fees, I suggest you go with bank transfer or crypto. Both options are free, though bank transfers take a few days to clear. Debit cards and mobile have a 2% transaction fee. Wire transfers are available for larger deposits starting at $1,000. For crypto users, you can use SOL, USDC, BTC and WLD.

Deposit options

How to cash out

Once a contract settles, your payout is available within two hours. Crypto is the fastest and cheapest way to cash out. Debit cards can arrive in under an hour but carry a $2 fee. Kalshi holds withdrawals based on how you deposited: 3 days for debit, 7 days for same-bank ACH, and 30 days if withdrawing to a different bank. Daily debit withdrawals cap at $2,500; bank transfers have no limit.

Latest Kalshi news and updates

Here are the latest updates our team is covering on Kalshi. This coverage spans product releases, CFTC and litigation news, and trading volume.

June 19, 2026: Kalshi has reportedly begun early talks with investment banks about a potential IPO after its annualized revenue run rate topped $2 billion.

June 18, 2026: CME sued the CFTC over its approval of Kalshi’s Bitcoin perpetual futures contract, escalating a fight over whether regulated exchanges can list crypto perps as futures.

June 18, 2026: Kalshi is expanding into Canada through a Wealthsimple partnership, giving Canadian users access to more than 4,000 event contracts as Wealthsimple Predict moves through beta testing ahead of a summer launch.

June 17, 2026: Kalshi and Polymarket captured nearly three-quarters of betting app downloads during the World Cup surge, with Kalshi at 42.3% and Polymarket at 31.2% of new installs from June 1-15, according to Apptopia data.

June 15, 2026: Kalshi crossed $100 billion in lifetime notional volume and recorded its first-ever billion-dollar single trading days, posting a record $6.38 billion in weekly notional for the week of June 8, up 43% week over week as World Cup trading accelerated.

June 15, 2026: The Nevada Gaming Control Board asked a court to hold Kalshi in contempt of a May 18 order, alleging Kalshi failed to geofence the state and that investigators successfully purchased prohibited event contracts on eight separate occasions while physically located in Nevada.

June 13, 2026: Kalshi, Crypto.com and Polymarket US sued Kentucky to block the state’s new 14.25% tax on prediction market transaction fees, arguing the law unlawfully targets federally regulated event contract exchanges.

June 12, 2026: The CFTC sued New Mexico over Kalshi, making it the eighth state targeted by the CFTC as the agency pushes back against efforts to treat sports event contracts as gambling.

June 10, 2026: In an effort to fight insider trading, Kalshi added new safeguards that risk-score contracts, screen some traders before they trade and expand tools for reporting suspicious activity, asking for employment information on higher-risk markets.

June 10, 2026: Wisconsin asked a court to temporarily block trading of sports event contracts on Coinbase, Kalshi, and Robinhood, calling the activity “open, repeated, ongoing criminal violations” of the state’s laws.

June 8, 2026: Kalshi set a $17.9B record in May, its ninth consecutive monthly record and a 21% jump from April’s then-record $14.81B, while World Cup activity lifted Polymarket US to a weekly high.

June 5, 2026: New Mexico Attorney General Raúl Torrez filed a lawsuit against Kalshi in state court, alleging the platform is unlawfully offering online sports betting while attempting to evade state gaming laws.

Additional prediction market site promos

Kalshi is one of several regulated prediction market sites operating in the US through the CFTC. If you want to compare sites like Kalshi or hold accounts at multiple exchanges, the platforms below are worth considering and most have a decent promo or sign up offer available.

• Polymarket: Polymarket is the largest prediction market by global volume, with deep liquidity across politics, sports, and culture markets settled in USDC. Enter invite code RATE at signup and unlock a Deposit $20, Get $50 bonus and skip the US waitlist. See our Polymarket promo code page for full details.
• Underdog Predict: Underdog Predict covers a broad slate of sports event contracts, including NFL, NBA, MLB, and college sports. Enter code DEFIRATE at signup for a $50 bonus. See our Underdog Predict promo code page for full details.
• FanDuel Predicts: FanDuel Predicts offers a $25 bonus for new accounts after completing identity verification. No promo code or deposit is required to claim the offer. See our FanDuel Predicts promo code page for full details.
• DraftKings Predictions: DraftKings Predictions is available in all 50 states and routes sports and finance contracts through CME Group. New users can claim a Trade $5, Get $50 bonus with no promo code. See our DraftKings Predictions promo code page for full details.
• Crypto.com: Crypto.com offers prediction markets alongside its full cryptocurrency trading platform, with deposits accepted in both fiat and digital currencies. Sign up with code DEFI for a $50 new user bonus. See our Crypto.com promo code page for full details.
• OG.com: OG is the standalone prediction markets app from Crypto.com, offering sports, politics, economics, and culture markets. See our OG.com promo code page for the current welcome offer.
• Robinhood: Robinhood offers prediction markets through a Kalshi partnership, with event contracts available directly alongside stocks and crypto. New users can claim up to $200 through the exclusive invite link. See our Robinhood promo code page for full details.

Our final score: 4.7 / 5.0

Kalshi gets a 4.7 out of 5 with room to improve on the operational side. The app volume tells the story. Elections, politics, and major sporting events drive the bulk of trading activity, with sports contracts now accounting for roughly 90% of Kalshi’s business with some expansion in politics and mention markets.

Liquidity on these markets runs deep enough to absorb institutional-sized orders. The same cannot be said for Kalshi’s more eccentric contracts on sneaker releases, celebrity appearances, and weather. The thin order books make it difficult to enter or exit trades at scale.

The nearly 4% annual on cash balances, including funds tied up in open positions, is a decent selling feature. We increased the score after Kalshi released a responsible trading program, which includes self-exclusion, trading limits and resources for help.

Frequently asked questions