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Kalshi is the first CFTC-regulated event contract exchange in the United States, founded in 2018 by Tarek Mansour and Luana Lopes Lara. Based in New York City, Kalshi allows users to trade yes/no contracts on real-world events — from economic data releases and weather outcomes to political elections and cultural events — with real money.
As a CFTC-regulated exchange (designated contract market), Kalshi operates under the same regulatory framework as established futures exchanges. Contracts settle at $1 for correct outcomes and $0 for incorrect ones, with prices reflecting market-implied probabilities. Kalshi has emerged as the leading legal US prediction market, with millions in daily trading volume.
Editor's Verdict
Kalshi is the only fully legal, CFTC-regulated prediction market in the US — trade real money on real-world outcomes with the full protection of federal financial regulation.
Last reviewed: February 2026 · BonusBell Editorial Team
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