Perhaps no trading platform is poised to make a bigger splash in 2025 than Kalshi.

The first CFTC-regulated exchange dedicated to trading on the outcome of future real-world events, Kalshi is taking things off the field and into the streets by offering punters the opportunity to trade on a wide range of topics like political elections, the Papal Conclave and the Nobel Peace Prize. 

Kalshi says it has developed a new asset class called “event contracts,” where users can buy “Yes or No positions” with respect to whether an event will happen or not.

This will allow folks to back their opinions on certain real-life events with actual money.

Kalshi is offering readers of the Post a $10 promo code when they create an account using code POST.

All you have to do is sign up, enter the promo code POST, verify your account, and complete at least $100 in trades.

Kalshi is very different from sportsbooks and other trading platforms.

Instead of betting on the outcome of a game or a prop, users are trading on the outcome of real events in the world, like political elections, award ceremonies or even inflation rates.

Prices shift on demand, meaning the more money that comes in on a prediction, the shorter the price will get.

For example, if money pours in on Stephen A. Smith to become the next president, the price on “Yes” will increase, while the price on “No” will decrease.

Another important note about Kalshi is that it allows traders to exit positions early, like a stock exchange. In other words, you can buy into a position, then sell it off later if/when the market moves.

No, Kalshi doesn’t list odds like traditional sportsbooks. Instead, Kalshi uses percentage-based pricing.

It may take some getting used to, but seasoned bettors will know how to convert these percentages to odds by using implied probability.

Although Kalshi originally started with trading on real-world events, they made their way into sports, though it differs from traditional sports betting

Due to regulatory restrictions, Kalshi only allows its users to make “futures” trades on long-term outcomes like:

Here’s how a trade settles on Kalshi:

For example, let’s say France is trading at $0.25 to win the 2026 World Cup, and you buy at that price. Great news, France wins. That means your trade now settles at $1, and you receive $0.75 profit per contract.

The gap between the prices on “Yes” and “No” reflects the uncertainty in the market, meaning that sentiment and liquidity are driving the price, just like in financial markets.

Must be 18 years or older and have a legal, U.S. residential address within the applicable state, D.C., or U.S. territories. Not available in IL, MD, MT, NJ and OH.

Michael Leboff is a long-suffering Islanders fan, but a long-profiting sports bettor with 10 years of experience in the gambling industry. He loves using game theory to help punters win bracket pools, find long shots, and learn how to beat the market in mainstream and niche sports.