Kalshi recently launched a Combo feature that works similarly to traditional sportsbooks' parlays and is widely referred to as the Kalshi parlay. Seeing as Kalshi runs on a different model from
sports betting sites, we decided to review this feature.
The Combo feature allows Kalshi traders to combine several contracts on eligible same-game and multi-game events. We’ll briefly describe how the site works, unravel its Combo feature, and walk you through the steps of making your first Combo. You’ll also find some pros and cons of using Combos and answers to a couple of questions later in this guide.
Kalshi Highlights
- Wins, spreads, props, and other sports prediction markets
- USA and global sports market coverage
- Offers prediction markets on college sports
Quick Facts About Kalshi Parlay
- Kalshi doesn’t support parlays, but it offers a Combo feature that works like parlays.
- With Kalshi’s Combo feature, you can combine several contracts on eligible same-game and multi-game events.
- The combo feature can only be used on professional football, professional basketball, and “Mention” markets.
- Kalshi’s Combo feature is more flexible than traditional sportsbook parlays.
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What’s a Kalshi Parlay and How Does It Work?
Kalshi isn’t a traditional sports betting site, so it doesn’t technically offer parlays. However, it has a custom-built, parlay-like feature which it calls "Combos,". Each combo is a unique market with its own dedicated order book, allowing you to trade on a custom combination of events.
Combos resolve to the product of each leg's value and are typically available near the start of an event. At the time of writing, Kalshi Combos are currently limited to professional football, professional basketball, and “Mention” markets. To learn more about the site, you can read our
full Kalshi review
here.
How to Parlay on Kalshi
Combos are submitted through a Request For Quote (RFQ) system to establish price and liquidity. When a combo is requested, an RFQ is sent out to the market, and other traders can then respond with a quote to take the other side of the position (act as the counterparty).
The best offer within that split-second timeframe is presented to the retail trader, who can then confirm or cancel their attempted trade. However, since quotes are generated live, there may be brief delays while waiting for a quote to be returned.
Determining the outcome of combos is quite easy. If one of the underlying legs in a combo is voided (e.g., a player is required to play but does not), the combo resolves to the product of the remaining underlying markets. However, the entire combo is not simply returned to the user. Rather, a combo's payout equals the product of the values of its legs.
Here’s a quick illustration. If a three-leg combo has one leg that resolved to a price other than $0 or $1, the final payout will be the product of the legs. This translates as $0.70 x $1.00 x $1.00 = $0.70 . So $0.70 is paid per combo contract owned.
That said, each leg of the combo is subject to the rules defined for the prediction market where the combo is picked. Here’s how they differ from traditional sportsbook parlays:
| Kalshi |
Traditional sportsbooks |
| Regulated by the CFTC |
Regulated by local regulatory authorities |
| You can exit or lock into contract positions whenever you want. |
Parlays are fixed once played |
| Parlays are against other traders |
They are set against the “house.” |
| Limited to a handful of markets |
Covers a variety of betting markets |
How to Make a Parlay on Kalshi
Here are the steps to take to create combos at Kalshi:
-
Log in to your Kalshi account.
-
Find the "Combos" feature.
-
Select the individual events you want to include in your combination. You could include a "Yes" on a specific player scoring a touchdown and a "Yes" on a team covering the spread.
-
Trade your combo after adding your desired contracts
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Place your trade on the combined outcome.
Note that the payout for a successful combo is the product of the values of each leg and that the system calculates the potential payout based on the individual contract values.
Pros and Cons of Using a Kalshi Parlay
Here are the upsides and one downside of using combos at Kalshi:
Pros and Cons
- Increased potential payouts
- Regulated by the CFTC
- Offers lots of control.
Conclusion – The Kalshi Parlay Feature Offers Something Different
Although this feature is currently limited to professional football, professional basketball, and “Mention” markets, you can build custom parlays by selecting same-game or multi-game events.
After selection, the parlay is submitted as a request for quotation, effectively asking other traders to price the opposite side. The site then presents you with the best offer, which you can either accept or decline. Kalshi is the first
prediction market site
to launch this feature, and it's more flexible than traditional sportsbook parlays.
If you’d like to build customized combinations when trading your event contracts, click our on-page banners to get started.
Kalshi Highlights
- Wins, spreads, props, and other sports prediction markets
- USA and global sports market coverage
- Offers prediction markets on college sports
Kalshi Parlay FAQs
🏈 What Markets Can I Use the Kalshi Combo Feature On?
Kalshi Combos are currently limited to professional football, professional basketball, and “Mention” markets.
🤔 Can You Parlay on Kalshi?
Not in the traditional sense of the word. However, Kalshi offers a "Combos" feature that works like traditional sportsbook parlays.
🔄 How Does the Combo Feature Work?
Select any combination of events from the eligible markets and send a quote requesting a counterparty. The site then presents you with the best offer, which you can either accept or decline.
