Kalshi¶
Kalshi is the first CFTC-regulated prediction market exchange in the United States.
Overview¶
| Feature | Details |
|---|---|
| Type | Regulated prediction market |
| Regulation | CFTC (US) |
| Settlement | USD |
| Access | US residents (with restrictions) |
| Contract type | Event contracts |
Setup¶
1. Create a Kalshi Account¶
- Visit kalshi.com
- Complete identity verification (KYC)
- Fund your account
2. Get API Credentials¶
- Log into Kalshi
- Go to Settings > API
- Generate API key and secret
3. Configure PolyBot¶
KALSHI_API_KEY=your_api_key
KALSHI_API_SECRET=your_api_secret
KALSHI_ENVIRONMENT=demo # or "prod"
KALSHI_COMPLIANCE_APPROVED=false # Set true only after review
Configuration¶
# Enable Kalshi venue
VENUES_KALSHI_ENABLED=true
# Environment (demo for testing, prod for live)
KALSHI_ENVIRONMENT=demo
# Must be explicitly approved for production
KALSHI_COMPLIANCE_APPROVED=false
Compliance
Before enabling KALSHI_COMPLIANCE_APPROVED=true, ensure you understand Kalshi's terms of service and any applicable regulations.
Market Types¶
Kalshi offers event contracts on:
- Politics and elections
- Economics (Fed rates, GDP, etc.)
- Weather events
- Financial markets
- Current events
Differences from Polymarket¶
| Aspect | Kalshi | Polymarket |
|---|---|---|
| Regulation | CFTC regulated | Offshore |
| Currency | USD | USDC (crypto) |
| KYC | Required | Optional |
| Access | US (mostly) | Non-US |
| Fees | ~1-2% | ~1% |
| Settlement | USD bank | Crypto wallet |
API Rate Limits¶
Kalshi has more conservative rate limits than Polymarket. PolyBot handles this automatically.
Risk Considerations¶
- Regulatory risk: Rules may change
- Access restrictions: Some markets restricted by state
- Lower liquidity: Generally less volume than Polymarket
- USD settlement: Different from crypto markets
CLI Commands¶
# Check Kalshi connection
polybot venues status kalshi
# List Kalshi markets
polybot markets --venue kalshi
Best Practices¶
- Use demo first - Test thoroughly before live trading
- Understand regulations - Know what's allowed in your state
- Monitor compliance - Keep up with regulatory changes
- Consider fees - Factor into strategy profitability
- Manage settlement - Understand USD withdrawal process