Kalshi has announced what is the largest bracket challenge prize in sports history: $1 billion for anyone who correctly predicts the winner of every game in the 2026 Men’s Basketball Tournament. The $1 billion figure rewrites what the best March Madness bracket contests look like, dwarfing every prize that has come before it heading into Selection Sunday.
Kalshi offers nearly a dozen contracts for this month’s college basketball games, including who will win the Men’s and Women’s championship, #1 seed, round of 64, 32 and 8 qualifiers. The bracket challenge sits on top of all that, giving fans a free shot at the biggest prize in the game.
How to enter Kalshi’s bracket challenge
For those interested in getting in on the biggest bracket contest, sign up at Kalshi with promo code DEFI. The contest is free to enter — no deposit or trade required. Note: users in New York and Florida are not eligible to enter. To get started:
- Visit Kalshi.com or download the Kalshi app
- Click “Sign Up” and enter your name, email, and password
- When prompted for a referral or promo code, enter DEFI
- Complete identity verification as required
- Navigate to the March Madness bracket challenge and submit your picks before tip-off on March 19. One entry per person. Must be over 18.
The bracket challenge is free to enter — no deposit or trade required. If you decide to explore Kalshi’s prediction market contracts, promo code DEFI unlocks a $10 bonus once you verify your identity, deposit at least $1, and complete $10 in trading volume on Kalshi’s event contracts.
Prizes:
- $1B for a perfect bracket
- $1M guaranteed for the best-scoring bracket
The contest is open to US residents 18 and older, with the exception of users in New York and Florida, who are not eligible to enter. Kalshi operates as a federally regulated event contract exchange overseen by the CFTC, which makes it available in states where traditional sportsbooks are not. One entry per person. The $1 billion grand prize is insured by SIG Parametrics, LLC.
Why Kalshi has the best free bracket challenge
Sportsbooks have dangled perfect bracket prizes for years, but the ceiling has hovered around $10 million. CBS Sports sends its top bracket finisher to the Final Four. BetMGM, one of the largest sportsbooks in the country, tops out at $10 million for a perfect bracket. Kalshi’s $1 billion offer is 100 times larger than either — and with promo code DEFI, new users can get in on it with a free $10 after their first $10 in trades.
List of all free to enter March Madness contests in 2026
Kalshi’s announcement lands in an already crowded landscape. Here’s how the major 2026 contests stack up:
| Site | 2026 Prize | Format | Entry requirement |
|---|---|---|---|
| Kalshi Billion Dollar Bracket | $1 billion / $1 million consolation | Perfect bracket; free to enter, one entry per person | Free, account required, 18+, not available in NY or FL; promo code DEFI for $10 trading bonus |
| DraftKings Zero Right Bracket Challenge | $100,000 | Pick every first-round loser; fewest points wins | Free, account required, 21+ |
| ESPN Tournament Challenge | $125,000 | Best overall bracket; fill out 25 brackets for special prizes | Free, ESPN account |
| Yahoo Fantasy Bracket Mayhem | $25,000 men’s / $25,000 women’s | Best overall bracket; overlay game format | Free, Yahoo account, 18+, open to US and CA |
| CBS Sports Bracket Challenge | Trip to 2027 Men’s Final Four | Best overall bracket | Free, CBS Sports account |
| Capital One March Madness Bracket Challenge | Trip to Final Four, semis & championship (men’s + women’s) | Top 1% of scores enter sweepstakes drawing; up to 10 brackets per person | Free via play.ncaa.com or March Madness Live app |
Potential 2026 contests — based on 2025 terms, not yet confirmed
| Site | 2025 Prize | Format | Requirements |
|---|---|---|---|
| BetMGM | $10 million | Perfect bracket; $100K consolation to top finishers | Free, account required, 21+ |
| Bet365 | $10 million | Perfect bracket; cash to top 5,000 finishers | Free, account required, 21+, one entry |
| FanDuel Tourney Shuffle ‘Em | $100,000 pool | Predict correct Final Four from random card | Free, account required, 21+ |
| X Bracket Challenge | $100,000 / Trip to Mars | Perfect bracket wins Mars trip; best overall wins $100K | Free, X account |
| USA Today Sports | $1 million | Perfect bracket; $25K to best overall entry | Free, open entry |
| Warren Buffett / Berkshire Hathaway | $1 million | 30+ correct first-round picks | Berkshire Hathaway employees only |
Kalshi Billion Dollar Bracket Challenge
The Kalshi Billion Dollar Bracket is a free-to-play contest awarding $1 billion for a perfect bracket. No deposit or trade is required to enter — just a verified Kalshi account, making it the best March Madness bracket contest this year. The consolation prize of $1 million goes to the highest-scoring bracket, with an additional $1 million donated to that winner’s charity of choice. The $1 billion grand prize is insured by SIG Parametrics, LLC. Open to U.S. residents 18 and older, with the exception of users in New York and Florida. One entry per person, submitted via the Kalshi app or website before the tournament games begin on March 19.
DraftKings Zero Right Bracket Challenge
Upsets don’t ruin your bracket with the DraftKings Zero Right Bracket Challenge — they help it. This March Madness contest, presented by Pepsi Zero Sugar, awards $100,000 to the entry with the fewest correct first-round picks. If a team you selected advances, you earn points, and points are the enemy. You win if you are sitting at the bottom of the leaderboard when the tournament ends. All prizes are split evenly among tied entries.
This contest is free to enter with a DraftKings account and is open to all 50 states. You must be 18 and up to enter with one entry per customer. The first 125,000 entrants also receive a digital coupon for a free Pepsi Zero Sugar product at participating retailers. Terms and conditions apply.
ESPN Tournament Challenge
The ESPN Tournament Challenge, officially the 2026 Allstate Men’s Tournament Challenge, is the most played bracket game in the country. This contest is free to enter with an ESPN or Disney account and runs from Selection Sunday through the national championship on April 6. Brackets lock at tip-off of the first game on March 19. You can submit up to 25 brackets per account and compete against friends.
This March Madness contest carries a $125,000 prize pool for the men’s and women’s bracket independently. A separate Allstate sweepstakes attached to the game awards one $5,000 American Express gift card drawn randomly from eligible entries. Your bracket performance does not affect your chances of winning it. Open to U.S. residents 18 and up. Terms and conditions apply.
Yahoo Fantasy Bracket Mayhem
Yahoo Fantasy Bracket Mayhem is a free bracket contest open to US and Canadian residents 18 and up (excluding Quebec and Ontario). Create up to 10 brackets in the free Basic Game, then designate one as your official contest entry. Picks must be submitted before the first game tips off on March 19. If two players finish tied, the tiebreaker is whoever predicted the closest combined final score of the championship game.
The men’s contest awards $25,000 to the highest-scoring bracket, paid directly to the winner’s PayPal account. The women’s tournament runs as a separate contest with the same $25,000 prize under identical terms. One entry per Yahoo ID. Terms and conditions apply.
CBS Sports Bracket Challenge
The 2026 CBS Sports Bracket Challenge gives fans a shot at a trip to the 2027 Final Four — and you don’t even need a perfect bracket to win. The top 10% of point scorers in the men’s and women’s challenges are each entered into a separate random drawing, with the grand prize including four tickets to the semifinals and championship plus $6,000 cash toward travel and accommodations. The men’s bracket deadline is March 19, the women’s March 20.
You will need an account with CBS Sports, which then gives you entry into both challenges automatically qualify for a third drawing for a Nissan Armada Hero Pro4x. The total combined retail value is approximately $99,000. This basketball contest is free to enter for US and Puerto Rico residents 21 and older with a valid driver’s license. Up to three brackets per challenge. Terms and conditions apply.
Capital One NCAA March Madness Bracket Challenge
The Capital One NCAA March Madness Bracket Challenge is the official bracket game of March Madness, free to enter via play.ncaa.com or the March Madness Live app. You can submit up to 10 brackets for the men’s tournament and 10 for the women’s. Both run as separate contests with separate prizes. Similar to DraftKings, you don’t need a perfect bracket to win. The top 1% of point scorers in each tournament are entered into a random sweepstakes drawing, with the winner announced around April 7. Men’s brackets lock March 19, women’s March 20.
The men’s grand prize is a four-night trip to the 2027 Men’s Final Four in Detroit, including two tickets to each semifinal and the championship game, hotel accommodations, $1,500 toward airfare, and $750 in spending money. The women’s prize is an identical package to the 2027 Women’s Final Four in Columbus, Ohio. This challenge is open to US residents 18 and up. Terms and conditions apply.
BetMGM $10 Million Perfect Bracket Challenge
BetMGM’s $10 million bracket challenge set the bar for sportsbook contests in 2025. The contest was free to enter with a $10 million grand prize to anyone who submitted a perfect bracket from start to finish. No one did, so BetMGM awarded $100,000 to the highest-scoring bracket. One entry per customer, and only the first submission counted, though picks could be edited until the first game tipped off.
BetMGM has not yet opened its 2026 bracket challenge, but it is expected to return in a similar format — though the actual prize and structure could change.
Bet365 Bracket Challenge
The Bet365 Bracket Challenge offered $10 million for a perfect bracket in 2025 and guaranteed cash prizes to the top 5,000 finishers regardless. First place received $100,000, second $25,000, third $10,000, scaling down from there. The brackets contest allowed one entry per customer, was free to enter for users 21 and older in select licensed states.
An Ohio user claimed the $100,000 first-place prize with 1,420 points, with Bet365 paying out $240,000 total across approximately 5,000 winners. The 2026 contest has not yet been announced but is expected to return in a similar format. Prize and rules is subject to change.
FanDuel Tourney Shuffle ‘Em
FanDuel’s Tourney Shuffle ‘Em took a different approach to the bracket contest in 2025. Instead of picking every game, users received a randomly assigned card with four teams representing their predicted Final Four. Up to 20 shuffles were available to swap teams out — but shuffles could not be undone. Any entrant whose card matched the actual Final Four split the $100,000 prize pool.
The contest was free to enter with a FanDuel account, and was available to users 21 and older in licensed states. FanDuel has not yet announced its 2026 version.
X Bracket Challenge
The X Bracket Challenge, presented by Uber Eats, ran in 2025 with one of the most memorable prize structures in March Madness bracket contest history. A perfect bracket won a trip to Mars aboard a SpaceX Starship. For those who preferred to stay on planet Earth, an alternative package of $250,000 cash, a year of free Starlink service, a day of astronaut training, the chance to send a personal item to space on a Falcon 9, and VIP access to a Starship launch. If no one went perfect, the top-scoring bracket won $100,000.
The contest was free to enter on X and open to US residents 18 and up. X has not yet announced any plans for a 2026 version.
USA Today Sports Million Dollar Bracket Challenge
The USA Today Sports Million Dollar Bracket Challenge offered $1 million to anyone who correctly predicted all 63 tournament games. If no one hit a perfect bracket, $25,000 went to the highest-scoring entry. The contest also awarded $10,000 to any entrant who correctly predicted 60 or more games.
The 2026 contest has not yet been announced.
Warren Buffett Bracket Challenge
After nearly a decade without a winner, Warren Buffett’s 2025 Berkshire Hathaway bracket challenge finally paid out. Buffett relaxed the rules to make it easier. Any employee who correctly predicted at least 30 of the tournament’s 32 first-round games won $1 million. An anonymous employee of FlightSafety International claimed the prize after nailing 31 of 32 first-round games. Eleven runners-up who also got 31 correct each received $100,000.
Whether and under what rules the 2026 challenge will run has not yet been announced.
What a perfect bracket actually requires
The NCAA Tournament is a 68-team, single-elimination field organized into four regional brackets. From the First Round through the national championship, there are 63 games — and a perfect bracket means calling every single one correctly before the first tip-off on March 19. No one has ever done it. This is precisely why the prize has to be significant — the near-impossibility of the task is what justifies Kalshi offering a $1 billion prize in the first place.
The actual odds of a perfect bracket range from 1 in 9.2 quintillion on a coin flip to roughly 1 in 120 billion for someone who follows college basketball. Either way, no one has ever publicly had a perfect bracket. This is why every contest on this list backs up the perfect bracket prize with consolation prizes for the best imperfect bracket too.
What to know before entering
Most major challenges are free to enter but require a platform account. Sportsbook contests — BetMGM, Bet365, DraftKings, FanDuel — require participants to be 21 or older and located in a licensed state. Kalshi, ESPN, Yahoo, and Capital One are open to users 18 and older, though Kalshi is not available to residents of New York or Florida. CBS Sports requires participants to be 21 or older with a valid driver’s license.
The bracket locks when games tip off March 19. Between now and then, millions of entries will be filled out with full confidence and zero chance of surviving the weekend intact. Kalshi is counting on that. So is everyone else.
