How do I sign up for Kalshi?

Go to Kalshi.com, enter an email and password, and confirm your email. The whole signup takes under 60 seconds. KYC verification is the next step and requires a US government-issued photo ID and the last four digits of your SSN — most accounts are approved in under five minutes.

How long does Kalshi KYC take?

Most accounts are approved in under five minutes. The verification is automated: you upload a photo of your driver's license, passport, or state ID, plus a selfie that's automatically matched to the ID. Manual review only triggers on edge cases like a blurry photo or a name mismatch.

What's the minimum deposit on Kalshi?

$1. There are no California-specific funding restrictions. ACH bank transfers are free and clear in 1–3 business days. Debit cards are instant for a small percentage fee. Wire transfers are typical for amounts above $10,000.

How do I place my first trade on Kalshi?

Pick a market from the homepage (Politics, Sports, Economics, Climate, Culture), read the contract spec to confirm the resolution date and source, decide YES or NO, set how many contracts you want, and confirm. The price you pay (between $0 and $1) is your maximum loss per contract. Minimum trade size is $1.

What does the YES price on Kalshi mean?

It's the market's estimate of the probability the event happens. A YES price of 65¢ means the market thinks there's a 65% chance the event resolves YES. If it does, each contract pays $1 and you profit 35¢ per contract minus fees. If it doesn't, each contract pays $0 and you lose your 65¢ purchase price.

Can I sell a Kalshi position before it resolves?

Yes, on most active markets. Open the Portfolio tab, click the position, and click Close. You're selling back into the order book at the current best bid (for YES) or offer (for NO). In thin markets the spread on the way out is often wider than on the way in — assume your roundtrip cost is double the visible spread.

How do I withdraw from Kalshi?

From the Account menu, click Withdraw, choose your linked bank, type the amount, and confirm. ACH withdrawals are free and settle in 1–3 business days. There's no California-specific withdrawal restriction. First withdrawals occasionally trigger a one-time identity confirmation email.

Do I owe taxes on my Kalshi trades?

Yes. Kalshi gains are taxable as ordinary income at both federal and California state level. Kalshi issues Form 1099-MISC for net gains over $600 in late January for the prior tax year. California's top marginal rate is 13.3%. Consult a California-licensed CPA for your specific situation.

Guides·7 min read

How to Use Kalshi: Step-by-Step From Signup to First Trade

By Catie Di StefanoPublished May 14, 2026Updated July 2, 2026

Kalshi is the largest CFTC-regulated event-contract exchange and it's legal for California residents. This walkthrough covers signup, KYC, funding, your first trade, and withdrawal — the path most California traders follow in under fifteen minutes.

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TL;DR

Kalshi onboarding takes under 15 minutes for California residents. Sign up with email, complete KYC with a US government-issued photo ID and last 4 of SSN (most accounts approve in under 5 minutes), then fund via free ACH (1–3 business days), instant debit card with a small fee, or wire for larger amounts. Trades are YES/NO contracts that resolve to $1 or $0 — the price you pay is your maximum loss. Minimum trade size is $1. You can sell positions any time before resolution. ACH withdrawals are free and settle in 1–3 business days. Year-end gains are taxable as ordinary income at federal and California state level (top CA marginal rate 13.3%); Kalshi issues 1099-MISC for net gains over $600. Common first-trade mistakes: oversizing for the win, trading thin markets first, confusing YES price with probability, holding to resolution out of stubbornness.

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Guides

Frequently asked questions

How do I sign up for Kalshi?: Go to Kalshi.com, enter an email and password, and confirm your email. The whole signup takes under 60 seconds. KYC verification is the next step and requires a US government-issued photo ID and the last four digits of your SSN — most accounts are approved in under five minutes.
How long does Kalshi KYC take?: Most accounts are approved in under five minutes. The verification is automated: you upload a photo of your driver's license, passport, or state ID, plus a selfie that's automatically matched to the ID. Manual review only triggers on edge cases like a blurry photo or a name mismatch.
What's the minimum deposit on Kalshi?: $1. There are no California-specific funding restrictions. ACH bank transfers are free and clear in 1–3 business days. Debit cards are instant for a small percentage fee. Wire transfers are typical for amounts above $10,000.
How do I place my first trade on Kalshi?: Pick a market from the homepage (Politics, Sports, Economics, Climate, Culture), read the contract spec to confirm the resolution date and source, decide YES or NO, set how many contracts you want, and confirm. The price you pay (between $0 and $1) is your maximum loss per contract. Minimum trade size is $1.
What does the YES price on Kalshi mean?: It's the market's estimate of the probability the event happens. A YES price of 65¢ means the market thinks there's a 65% chance the event resolves YES. If it does, each contract pays $1 and you profit 35¢ per contract minus fees. If it doesn't, each contract pays $0 and you lose your 65¢ purchase price.
Can I sell a Kalshi position before it resolves?: Yes, on most active markets. Open the Portfolio tab, click the position, and click Close. You're selling back into the order book at the current best bid (for YES) or offer (for NO). In thin markets the spread on the way out is often wider than on the way in — assume your roundtrip cost is double the visible spread.
How do I withdraw from Kalshi?: From the Account menu, click Withdraw, choose your linked bank, type the amount, and confirm. ACH withdrawals are free and settle in 1–3 business days. There's no California-specific withdrawal restriction. First withdrawals occasionally trigger a one-time identity confirmation email.
Do I owe taxes on my Kalshi trades?: Yes. Kalshi gains are taxable as ordinary income at both federal and California state level. Kalshi issues Form 1099-MISC for net gains over $600 in late January for the prior tax year. California's top marginal rate is 13.3%. Consult a California-licensed CPA for your specific situation.