Is Kalshi legal in all 50 states?

Yes. Kalshi is a CFTC-regulated Designated Contract Market, so it operates under federal commodity law rather than state gaming rules. That gives it the broadest US footprint of any event-contracts exchange — it is available to verified residents in all 50 states.

Why is Kalshi available everywhere when sportsbooks are not?

Sportsbooks are licensed state by state. Kalshi is a federally regulated exchange overseen by the CFTC, so its legality does not depend on a state issuing a sports wagering license. Traders buy and sell event contracts that settle at $1 or $0.

Do I pay taxes on Kalshi profits?

Yes. Net trading profits are taxable income federally, and your state may apply its own income tax. Kalshi issues the relevant tax forms. This is general information, not tax advice.

STATE-BY-STATE GUIDE

Is Kalshi Legal in Your State?

Yes — Kalshi is available in all 50 states. As a CFTC-regulated event-contracts exchange, Kalshi operates under federal commodity law instead of the state-by-state rules that govern sportsbooks. Pick your state below for the full breakdown: legality, taxes, and how Kalshi compares to DraftKings Predict and FanDuel Predicts.

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Prediction markets price real-world events in cents — each cent represents one percentage point of implied probability. Tracking volume surges, price dislocations, and cross-platform arbitrage is how sharp traders find edge. Whether you trade on Kalshi, Polymarket, DraftKings Predict, or FanDuel Predicts, the same fundamentals apply: read the market, respect the vig, and size appropriately.