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Election Day is just around the corner, and there are a couple of legal election betting options where you can wager on the outcome.
Two of the most popular are Kalshi and Predictit.
PredictIt and Kalshi are the top prediction markets available in the U.S., allowing Americans to legally and safely bet on Trump vs. Harris. PredictIt has an academic focus that studies how well markets can predict election outcomes. Kalshi is a finance app that lets traders bet on many real-world events, including dozens of markets for the 2024 election.
You can sign up and bet on the election with Kalshi by clicking here. Get a $20 bonus when you deposit $100 or more.
In fact, Kalshi has already accepted over $120 million in U.S. presidential bets.
How Does Election Betting Work on Kalshi and PredictIt?
PredictIt and Kalshi are prediction market platforms. The price of a contract is equal to the chance that it will happen. If an event happens, every contract on its happening pays $1, so the more likely events are also the highest priced.
PredictIt has been around since 2014 and is allowed to operate because it keeps betting limits low. There can only be 5,000 traders in a market, and maximum bets are $850.
Kalshi has bet limits that reach as high as several million dollars. It also has a diverse set of markets on events from weather to finance to entertainment.
Both companies are regulated by the Commodity Futures Trading Commission (CFTC). They’re also both in court with their regulator to allow continued wagers on the U.S. election. While they’re safe for the 2024 race, both companies are fighting for the 2026 midterms and 2028 presidential race.
Why Bet at a Legal Company?
Unregulated companies offer prediction markets, too, but they’re not technically available to U.S. customers. A crucial part of prediction market trading is understanding settlement terms. Every prediction market points to an event or a source that it’ll use to decide which contracts pay out.
Kalshi and PredictIt have consistently clear and specific settlement terms. Those terms are required by the CFTC.
Unregulated platforms also set settlement terms for each market, but it has experienced disputes based on unclear settlement terms. Some markets have actually been settled by a cryptocurrency vote because the terms were so unclear.
We like both Kalshi and PredictIt, but there’s a clear winner if you’re trying to decide between the two platforms.
Kalshi vs. PredictIt: Kalshi is the best option
For election bettors, PredictIt has a lower Trump price than Kalshi, opening up arbitrage opportunities for sophisticated traders. However, Kalshi has many more election and political markets available
Additionally, the Kalshi app lets you bet on the election while on the go. The app has a smooth interface and is easy to use.
The best part about using Kalshi to bet on the election? You can get a $20 bonus bet when you sign up here.
Why to Bet on the Election with Kalshi
- Tons of markets
- Around-the-clock trading during election week
- No fees for election markets
- No minimum deposit requirement
- High liquidity
- $20 bonus for new users
The better question is why not bet on the election with Kalshi? Remember, to get your $20 bonus you must be a new user who deposits $100.
Some other important notes to know before betting on Kalshi.:
- You must be at least 18 years or older.
- You have to have a residential address within the 50 states, D.C., or any U.S. territory/
- Deposit options include direct deposit via bank, crypto deposits, or wire transfer.
