Platform
Trading balance
Cash funds orders and receives sale proceeds or settlement payments. The portfolio value also includes open positions marked at current prices.
Your ecosystem guide / Kalshi
Kalshi: trading event outcomes
Kalshi is a trading platform for contracts tied to real-world outcomes. Participants trade Yes and No positions through an order book. Each market specifies the event, result source and settlement rules; Kalshi also offers a separate Perps product.
- Platform
- Event-outcome contracts
- Verified on 15.10.2026
- Position
- Yes / No and cash settlement
- Verified on 15.10.2026
- Fees
- Per market and filled order
- Verified on 15.10.2026
Kalshi
All sections
Cash, a contract and its payout
A position connects a specific question to a cash result.
Event position
For a standard binary contract, the winning side pays $1 and the losing side pays $0. The market rules define how the outcome is established and how special cases are handled.
Entry price
The execution price determines the amount paid per contract. Bid, ask and the last trade are different prices; a resting order becomes a position only when filled.
Asset lifecycle
From an order to cash
Selling before the outcome and waiting for settlement close a position in different ways.
Buy a position
- 01Choose a market and side
- 02Order matches another participant
- 03Cash becomes contracts
A buy order uses available cash. A limit order waits for a matching price; an unfilled order does not create an event position.
Mechanism rules ↗Sell before settlement
- 01Open contracts
- 02Match a sale
- 03Receive sale proceeds
The execution price and trading fees determine the cash returned. A sale can realise a gain or a loss before the event is decided.
Mechanism rules ↗Hold through determination
- 01Trading closes
- 02Result is determined under the rules
- 03Settlement credits cash
The event ending and the market settling are separate stages. The stated result source and determination procedure govern payment.
Mechanism rules ↗Event Contracts and Perps
The product determines the position, rules and fee schedule.
A defined outcome
Sports, economic releases and crypto-price questions settle against the event specified in each market. A Bitcoin price contract pays cash according to its conditions.
A separate trading product
Perps are perpetual futures traded with margin and leverage. Funding payments between positions help keep the contract price near spot. Trading fees apply when opening and closing a position under a separate schedule.
Products and applications
The trading interface, developer API and help centre serve different tasks.
Markets and portfolio
Kalshi
Browse questions, inspect market rules, place orders and track contracts and cash.
Programmatic access
Kalshi API
Documentation covers market data and authenticated trading operations. Market-data access and permission to trade are separate.
Account and product rules
Kalshi Help
Read fee explanations, funding methods and the settlement process for the selected product.
Account, identity and eligibility
Individual trading requires an account, identity verification and adulthood. The current Member Agreement restricts Event Contracts trading for people or entities domiciled, organised or located in listed jurisdictions, including the UK and France. This clause has a specific Event Contracts scope; other products and account access follow their applicable terms.
Select the product
Open the market’s rules and result source. Funding methods and availability depend on location and account eligibility.
Choose price and size
Review the order cost and applicable fee before submitting. A limit order may remain unfilled.
Track the position
An open contract can be sold when a matching order is available or held through determination and settlement.
Execution fees and cash settlement
Trading fees apply to filled contracts under the relevant market schedule. Price, quantity, market multiplier and order role affect the fee. The schedule lists no settlement fee for Event Contracts.
What a contract holder controls
The order and the filled position have different lifecycles.
Cancel a resting order
An unfilled order can be cancelled; a completed trade creates a position.
Reduce exposure
Selling contracts changes the position and credits proceeds at the execution price.
Receive settlement
Cash payment follows the market determination and payout rules.
Documents, tools and communities
Market rules ↗Trading fees ↗Fee schedule ↗Member agreement ↗International access ↗Perps fees ↗Developer documentation ↗
2 sources about Kalshi
The official Kalshi account and co-founder perspective on product direction, event markets and exchange developments.Checked on 15.10.2026
Kalshi
Kalshi
Official Kalshi updates on event contracts, market rules, product launches and exchange developments.
Official
Affiliation confirmed
Tarek Mansour
mansourtarek_
Kalshi co-founder on product direction, forecasting and the use of event markets.
Builders
About the ecosystem
Full list on xfollowlist.com →
Reviewed: 15 October 2026
Practical questions
1Does a crypto market deliver Bitcoin?+
Kalshi crypto-price Event Contracts settle in cash against the specified price conditions. The position is an event contract.
2Is every maker order free?+
Maker fees depend on the market. The current fee schedule includes market-specific multipliers and exceptions.
3Does the event ending mean the money has settled?+
The market still follows its determination and settlement procedure. Its rules specify the result source and relevant timing.