Kalshi has launched its election markets, making it the first regulated election trading site in the United States. New customers can sign up and get extra money to place trades in these new markets.
New customers who register for Kalshi on the site’s mobile app will get an extra $20 if they make a $100 deposit. This offer is only available to customers who sign up through the app — click here to get started.
Kalshi offers markets on which party will control the House of Representatives and the Senate. On Oct. 3, Kalshi also launched a market on who will win the 2024 presidential race.
Besides its election markets, Kalshi offers markets on a wide range of subjects from weather events to award show winners to presidential approval ratings. Whatever a trader’s interest, Kalshi probably has a market dedicated to it.
Sign up with Kalshi in-app
Kalshi has a straightforward signup process. New customers can sign up with Google, Apple, or an email address. Once you’ve created your password, you’ll gain access to the app and be able to view the markets.
After you’ve created your account, you’ll have to enter information that allows Kalshi to verify your identity. If you’re in the app, you can click the “Add Funds” button and select how much you’d like to deposit. When you hit “Review”, you’ll be taken to a new screen where you can enter your name and phone number. You’ll also be asked to provide your Social Security Number. Some customers may need to upload additional documents to verify their identities.
Once identity verification is completed, traders can link their bank accounts, complete their deposits, and begin trading.
Kalshi’s road to election markets
On Oct. 2, the D.C. Circuit Court of Appeals dissolved the stay preventing Kalshi from offering its election markets. Kalshi had already won its District Court case in September, but the CFTC had successfully applied for a stay at the appeals level.
Kalshi argued that its election markets would add to the hedging tools it already had available on other topics. Portfolio performance and family finances are affected by the party controlling Congress and the White House. The D.C. Circuit Court of Appeals agreed that the hedging function that Kalshi’s contracts provide should be available to investors.
However, traders can hedge against many events that could impact their finances. For example, someone who wants to buy a home has a financial interest in the number of interest rate cuts in 2024.
This homebuyer could purchase contracts on four cuts. If there’s an additional cut, then that homebuyer has lost the money he spent on contracts as he would in an unused insurance policy. But if there are no more cuts, then that homebuyer will receive payouts from the contracts he purchased.
Prediction markets aren’t just for fun. They allow ordinary people to hedge against events that no insurance company could cover.
Remember, sign up here and start trading on Kalshi today with an extra $20 in your account when you make your first deposit of $100 or more.
Also, get more tips for betting on the election and trading on politics.
