Prediction markets
What is Kalshi?
Kalshi is a CFTC-regulated US exchange where you can trade event contracts on questions about economics, politics, weather, and more. Here's how it works and how to track your P&L.
Last reviewed: June 14, 2026
What is Kalshi?
Kalshi is a US-based, CFTC-regulated exchange for event contracts. You trade by funding an account in US dollars, and contracts are cash-settled rather than settled in crypto.
How event contracts work
Each Kalshi contract pays out $1 if its event resolves yes and $0 if it resolves no. You buy yes or no at the current price; the difference between your entry price and settlement is your profit or loss.
How prices and odds work
Contract prices range from 1¢ to 99¢ and reflect the market's implied probability of the event. A 70¢ price implies roughly a 70% chance. Contracts settle at $1 (100¢) if correct and $0 if not.
Is Kalshi legal?
Kalshi is regulated by the Commodity Futures Trading Commission (CFTC) as a designated contract market, so it operates under US federal oversight for eligible US users. As with any trading, check the rules and eligibility that apply to you.
Regulatory status sourced from the CFTC: cftc.gov
How to track your Kalshi P&L
Connect Kalshi to Mantapex with read-only API credentials to track your positions, realized and unrealized P&L, and settlements in one dashboard.
Track your Kalshi P&LKalshi vs Polymarket
Kalshi and Polymarket both let you trade event outcomes. Kalshi is a CFTC-regulated US exchange with cash settlement, while Polymarket is a crypto-settled, global market.