As a trader on the site, you can buy and sell Kalshi event contracts for several types of futures outcomes. They are priced between $0.01 and $1.00, and the price generally reflects the percentage probability of the outcome.
For most events, the contracts are based on “Yes” and “No” outcomes, and you need to buy shares for the correct prediction to win a payout. For example, if you bought “Yes” contracts for the market “Will the Bulls beat the Lakers?”, and the Bulls won, the market would resolve as “Yes” and the value would be $1.00.
Kalshi Highlights
- Wins, spreads, props, and other sports prediction markets
- USA and global sports market coverage
- Offers prediction markets on college sports
Kalshi Event Contracts - A Brief Explainer
As explained in our full
Kalshi review, this website is a trading platform where you can buy and sell contracts for prediction markets that are centered around possible outcomes for future events. These contracts are priced between $0.01 and $1.00 based on the implied probability of the outcome happening as a percentage.
The contracts that you can buy are usually “Yes” and “No” positions on the possible outcome. For example, “Will the Eagles win the Super Bowl this year? Yes / No”.
As with traditional sports betting, you have to back the correct prediction to win a payout. If you buy contracts for a prediction that ultimately turns out to be incorrect, you lose your entire outlay.
Kalshi Event Contracts - Equity and Pricing
From the short explanation given above, you might think that
Kalshi and sports betting
have a lot in common. While there is some crossover, that’s not exactly the case.
Kalshi is actually a trading platform that matches buyers and sellers for its prediction markets. As a result, the contracts for these prediction markets are based on market opinion. Unlike a traditional sportsbook, Kalshi doesn’t calculate odds and set the contract prices itself.
How the Pricing Works at Kalshi
The price of these Yes/No outcome contracts at Kalshi is set based on a simple process:
- Market opinion determines the “Chance” (probability) of the outcomes on the prediction market from happening.
- The prices are set between $0.01 and $1.00 based on the “Chance” percentage.
- The “Chance” percentage will change based on trader opinion in the run-up to the event
Kalshi Highlights
- Wins, spreads, props, and other sports prediction markets
- USA and global sports market coverage
- Offers prediction markets on college sports
Kalshi Event Contract Pricing and Chase - An Example
To give you an example of how the event contract pricing works at Kalshi, we’ve used this sports prediction market that’s available on the site at the time of writing:
- Prediction market -
Detroit Pistons vs Milwaukee Bucks: Game Winner / NBA
This is how the contracts and prices are displayed:
Here, you can see that because Detroit has a 60% chance of winning, the “Yes” contract is priced at $0.60 and the “No” at $0.40. As Milwaukee has just a 40% chance of winning, the Yes/No contracts for their win outcome are the other way around; $0.40 for “Yes” and $0.60 for “No”.
How to Buy Event Contracts at Kalshi
To buy event contracts at Kalshi, the first thing that you must do is deposit funds into your account. Once you’ve done that, you can buy contracts in one of two ways:
- By contract
- You just type in the number of contracts that you wish to buy for your chosen outcome and pay the price plus the fee. For example, if you bought 100 “Yes” contracts for Detroit to win in the example prediction market that we used above, it would cost you $60 + fees (100 x $0.60 $60).
- In dollars
- Instead of individual contracts, you can choose to buy X amount of dollars (USD) worth of contracts for your chosen market. This means that you could end up with a fractional number of contracts. For example, $100 on “Yes” for Detroit to win would get you 166.66 contracts (100 / $0.60).
What Fees Do You Pay on Kalshi Contracts?
Unlike a traditional sportsbook, Kalshi doesn’t make its money by adding a commission to the price of its trades. It’s an exchange platform that matches buyers and sellers for event contracts on prediction markets.
As a result, the site will charge you a fee for all contracts that you purchase. The math behind the
Kalshi fees
is based on the expected winnings on the contract, and some prediction markets have higher fees than others.
For example, special events like
Kalshi election prediction markets, the Super Bowl, or awards ceremonies like the Oscars will often have higher fees. Additionally, if you place a contract order that isn’t immediately matched, you will be charged a reduced maker fee.
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Buy and sell contracts with Kalshi on mobile
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Enjoy seamless trading on Kalshi's website
Making Deposits to Purchase Event Contracts at Kalshi
To fund your account, you have the following payment methods available to you at Kalshi:
- Bank deposits
- There are no minimum or maximum limits for bank transfer deposits, but they can take between 1 -3 business days to process.
- Debit card deposits
- Deposit card deposits are processed instantly, but incur a 2% fee.
- Crypto deposits
- These take up to 30 minutes to process and have a $500,000 limit.
- Wire deposits
- Wire transfers have a minimum deposit limit of $1,000 and will be processed the next business day if you submit before 4 pm ET.
How Do Event Contracts at Kalshi Payout
The payout system at Kalshi is fairly simple. For starters, your predictions must be correct for you to receive a payout. If you have bought a contract for the correct outcome, the contract prices will close at $1.00, ultimately leaving you with a profit on every contract that you purchased.
For example, had you bought “Yes” contracts for Detroit to win, and they went on to win the game, the market would resolve as a “Yes”. If this position is settled, $1.00 for every contract purchased will be allocated to your cash balance.
If you’d bought your Detroit “Yes” contracts at $0.60, you’d have $0.40 profit on each of them. Of course, you also have to take off the fee that you’d paid for executing your fee as well.
Selling Your Event Contracts
The other option that you have is to try and sell your contracts before the prediction market has been resolved. Of course, this should only be done if it's in your interest and it requires you to find a buyer. Unlike with traditional sports betting, it’s not as simple as clicking a button to accept your early cashout offer.
For example, if the price of Detroit “Yes” were to move from $.60 per contract to $0.80 following a shift in trader opinion due to an injury to a key Milwaukee player, you might decide to sell. However, finding buyers could be difficult due to the high price and low profit margin.
How to Cash Out Event Contracts, Kalshi - Withdrawals
Once you’ve either sold your contracts or settled them after the prediction market has resolved, there are three ways to withdraw the funds from your cash balance:
- Debit cards
- Debit card withdrawals only take 30 minutes to complete, but have a $2.00 processing fee.
- Bank transfers
- There are no limits or transactional fees for bank withdrawals at Kalshi, but they take between 3 -4 business days to process.
- Crypto
- You can only request a cryptocurrency withdrawal if you have previously made at least one deposit using your crypto wallet. They typically take 30 minutes or less to process, and only the blockchain fees apply.
The Pros and Cons of Kalshi Event Contracts
Before we finish, here’s a summary of the pros and cons of these event contracts:
Pros and Cons
- A different way to participate in sports
- More transparent pricing than traditional sports betting
- Find contracts on a range of prediction markets
- Trading on these event contracts is risky
Participate in Different Events When You Buy and Sell Kalshi Event Contracts
To conclude, the event contracts for prediction markets at Kalshi allow you to buy positions for Yes/No outcomes for future events. This covers everything from sports to culture, economics, politics, and more.
The contracts are priced between $0.01 and $1.00 and are based on the probability of the outcome happening. If the market resolves with your outcome being correct, each contract that you purchased settles at $1.00, giving you a profit.
Ready to give it a try? You can start creating your Kalshi account by tapping the banners on this page.
Kalshi Highlights
- Wins, spreads, props, and other sports prediction markets
- USA and global sports market coverage
- Offers prediction markets on college sports
Kalshi Event Contracts FAQ
🎟️ What Is an Event Contract on Kalshi?
An event contract at Kalshi allows you to buy a Yes/No position on a prediction market. For example, if the market was “Will the Maple Leafs win the Stanley Cup?”, you’d buy “Yes” contracts if you thought they would win.
💵 How Does a Kalshi Event Contract Pay Out?
An event contract at Kalshi will pay out if the prediction market resolves with your prediction being correct. For example, if you bought “Yes” contracts for the “Will the Maple Leafs win the Stanley Cup?” and they won, the market would resolve as a “Yes”. As a result, you’d receive a payout of $1.00 for every contract that you bought.
💳 Does Kalshi Let You Cash Out?
Yes, if you either sell your contracts or if the prediction market resolves with your contract position being correct, the money will be moved to your cash balance. From here, you can withdraw funds via debit card, bank transfer, or crypto.
