Kalshi app review 2026: what it's like to use
Published 2026-08-07 · Last reviewed 2026-08-07
TL;DR
- The Kalshi app is a mobile trading app for event contracts — sports, economics, politics — on a CFTC-regulated exchange.
- It's on iOS and Android, free to download, and funds via bank transfer or debit card.
- Best for people who want regulated markets and tax paperwork; Polymarket's app carries more markets.
The Kalshi app is the fastest way to see what a prediction market actually is: a screen of questions with a price next to each one, where 63¢ means the crowd thinks it's 63% likely.
What it does well
Onboarding is brokerage-standard and takes a few minutes. The market list is browsable by category, order entry is two taps, and positions show unrealised P/L in dollars rather than odds notation — which is much easier to read if you've never used a sportsbook.
What's annoying
Thin markets have wide spreads, so the price you see isn't always the price you get. Bank deposits are occasionally declined by card issuers that flag anything event-contract related — fixable, see deposit declined by bank.
Cost
Free to install; you pay a per-contract trading fee that peaks around mid-priced contracts. Numbers in Kalshi fees.
How it compares
- vs Polymarket: more regulation and 1099s, fewer markets — full comparison.
- vs Robinhood: Robinhood routes its event contracts through Kalshi, so you're often trading the same underlying market with a different interface — Kalshi vs Robinhood.
- vs everything else: best prediction market apps 2026.
Before you download
Check your state on the availability list — the app installs anywhere but trading is gated by location.
Get started
New traders get $10 with code COLLEGEPM.
Sources & further reading
Frequently asked questions
What is the Kalshi app?
It's the mobile app for Kalshi, a CFTC-regulated US exchange where you trade yes/no contracts on real-world events. Each contract settles at $1 if the event happens and $0 if it doesn't, so the price doubles as a probability.
Is the Kalshi app free?
The app is free to download on iOS and Android. You pay trading fees per contract and possible fees on certain withdrawal methods, not a subscription.
Is the Kalshi app available on Android?
Yes — Kalshi ships both an iOS and an Android app, which is a difference from Polymarket's US app, which has been iOS-first.
How much money do you need to start on the Kalshi app?
Contracts are priced in cents, so you can start with a very small balance. Practically, $10–$20 is enough to place a few positions and test deposits and withdrawals end to end.
Is the Kalshi app safe?
It runs full identity verification and customer funds are held in segregated accounts under a federally regulated exchange. Market risk — losing what you commit — is the real exposure.
Can you trade college sports on the Kalshi app?
Kalshi lists a range of sports markets. College football and basketball coverage varies by season and by market; Polymarket has generally carried the deeper college slate.
Related reading
Independent coverage. Some outbound links are affiliate links — see footer disclosure.