Kalshi kicked off the week with a bang. The CFTC-regulated prediction market, which is simultaneously defending their “sports event contracts” in several state courts, filed three new products that look more like the bread-and-butter bets of their sportsbook competitors: football point spreads, over/unders (totals), and touchdown props.
Since launching its first sports contracts ahead of the Super Bowl, Kalshi has mostly stuck to moneylines and futures. Last week it began tip‑toeing into fantasy props (e.g., Who scores more fantasy points in Week 1: Patrick Mahomes or Josh Allen?).
The new filing on Monday morning is a much bigger step: it moves the exchange squarely into more popular parts of the sportsbook menu, as first reported by Adhi Rajaprabhakaran. On Monday evening, we got our first peek at the new prediction market offering:
First look at Kalshi’s football spreads and game totals 👀 pic.twitter.com/2z1QsWZMZL
— Prediction News (@PredictionNews_) August 19, 2025
When will Kalshi’s new NFL markets go live?
Trading could begin as soon as Tuesday unless the CFTC rejects the filings or opens a 90-day review, during which the markets would be suspended.
If the agency initiates that review, it could take until roughly Week 11 of the NFL season, still giving Kalshi time, if approved, to carry the product through the season’s second half, the playoffs, and the Super Bowl.
Given the CFTC’s more laissez-faire posture under President Trump, the smart money is on the CFTC standing aside.
What’s next for Kalshi sports contracts?
If the certifications take effect, expect point totals and spreads to post quickly for the final week of the preseason and then for every Week 1 matchup.
Touchdown props would follow, and the path is paved for weekly player‑specific props: passing yards, rushing yards, receptions markets, etc.
Spreads and totals are also likely to appear alongside moneylines on brokerage platforms Kalshi has partnered with, like Robinhood, further blurring the line between gambling and financial apps.
Similar but different than sportsbook offerings
The prediction market products will feel similar but won’t be identical to the products sports bettors have become accustomed to at sportsbooks:
For one, as some traders discovered during the preseason, there are no pushes on Kalshi.
Sportsbooks refund on whole‑number spreads/totals, but the exchange’s contracts are written to avoid push outcomes or to specify a precise settlement in any tie scenario. For example, ‘Yes’ and ‘No’ contracts both resolved to 50¢ during yesterday’s tied preseason game between the Saints and Jaguars, regardless of the purchase price.
That means even if there is a push, you will still lose the exchange fees paid on each trade. Kalshi, of course, can avoid some headaches by listing all spreads, totals, and props with half-numbers (e.g., New Orleans Saints +7.5, 40.5 points, 280.5 passing yards.)
As the season unfolds, we’ll get a better picture of just how different Kalshi’s NFL offerings are from traditional sportsbook betting markets, and possibly some legal clarity from the courts.
