Kalshi Promo Code RATE: Get $25 for No. 5 Ohio State vs. No. 14 Iowa

No. 5 Ohio State (3-1) visits unbeaten No. 14 Iowa (4-0) at Kinnick Stadium at 3:30 p.m. ET on CBS, and it’s the most traded game of college football’s afternoon window on Kalshi: about 906,000 contracts changed hands on its moneyline and spread in the 24 hours before kickoff, more than Florida vs. Missouri (717,000) in the same slot.

Kalshi makes the Buckeyes an 85% favorite, but the money is on the upset: traders have spent about $386,000 on Iowa at 15 to 16 cents a contract in the last 24 hours, more than five times the $71,000 backing Ohio State. And Kalshi pays more than the sportsbooks on both sides: Iowa at 16¢ is +525, against +470 at DraftKings.

New Kalshi users can claim the offer with promo code RATE: Trade $10, Get $25 in trading credit, usable on Ohio State vs. Iowa or any other market.

Kalshi promo code RATE: offer details

Your qualifying trades don’t have to win. Trade $10 on Ohio State vs. Iowa, and the credit arrives whether Iowa pulls the upset or not. Full terms are on our Kalshi promo code page, and every current offer is on our prediction market promos page.

Ohio State vs. Iowa odds on Kalshi

Live Kalshi prices for the moneyline, the spread and the total. A contract pays $1 if it’s right; its price is the market’s chance, so 85¢ means 85%. Prices move until kickoff and during the game; see every game on our sports odds page.

Kalshi vs. sportsbook odds for Ohio State vs. Iowa

The same game, priced on Kalshi and at DraftKings (sportsbook odds from DraftKings via ESPN, Saturday morning):

The sportsbook has moved toward Iowa too: DraftKings opened the Hawkeyes at +500 and Ohio State at -700. On Kalshi you trade against other people, so there’s no built-in sportsbook margin on the price; Kalshi charges a small trading fee instead (see prediction market fees).

Where the money is going

• The upset: about $386,000 has been spent on “Iowa wins” contracts in the last 24 hours, at 15 to 16 cents each, against about $71,000 on Ohio State at 84 to 85 cents. Cheap upset contracts draw a lot of buyers; at 16¢, each one pays $1 if Iowa wins.
• The spread: the busiest line is Ohio State by more than 14.5 points, with about $212,000 traded, followed by 13.5 points ($160,000). The market is split almost exactly on whether the Buckeyes cover two touchdowns.
• The total: Over 45.5 points is the most traded total, priced at a coin flip.

Ohio State vs. Iowa drew the most contracts of any 3:30 p.m. kickoff on Kalshi. For volume across every exchange, see our prediction market volume tracker.

Ohio State vs. Iowa preview

It’s a ranked Big Ten matchup with an unbeaten home underdog, the kind of game where upset contracts draw buyers. Ohio State’s one loss came on the road, and Iowa hasn’t lost at Kinnick this season. The market still expects the Buckeyes to win comfortably: a 14.5-point line priced near a coin flip and a total near 45 points point to a score around 30 to 16.

What the bonus buys on this game

Once your credit arrives, here’s what Trade $10, Get $25 in credit is worth at the prices above:

• Iowa to win at 16¢: $25 buys about 156 contracts, paying about $156 if the Hawkeyes pull the upset.
• Over 45.5 at 50¢: $25 buys 50 contracts, paying $50 if the game tops 45 points.
• Ohio State to win at 85¢: $25 buys about 29 contracts, paying about $29 if the Buckeyes win.

The credit lasts seven days, so you can also use it on next week’s games. Figures are before Kalshi’s trading fee, a fraction of a cent per contract at these prices (see prediction market fees).

How to claim the Kalshi bonus for Ohio State vs. Iowa

1. Sign up through our link: open Kalshi on the web or download the app for iPhone or Android, and start registration.
2. Enter promo code RATE: type it when the app asks for a referral or promo code, before you verify your identity.
3. Verify your identity: your legal name, address, date of birth and Social Security number, plus a photo ID.
4. Fund your account: bank transfers are free; debit cards are instant with a small fee.
5. Trade $10: on Ohio State vs. Iowa or any market. Win or lose, your Trade $10, Get $25 credit follows.

Why trade Ohio State vs. Iowa on Kalshi

Kalshi is a CFTC-regulated exchange, so you trade against other people rather than a sportsbook. That means you can sell a position at the market price any time before the game ends: buy Iowa at 16¢, and if the Hawkeyes lead at halftime, you can lock in a profit without waiting for the final whistle. Prices update live through all four quarters.

Prediction markets involve risk, and prices move quickly before and during games. Trade only with money you can afford to lose, check each market’s rules before you buy, and don’t chase losses.