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In a public response to a recent proposal by the Cleveland Browns to allow NFL teams the ability to trade draft picks five years out, Los Angeles Rams president Kevin Demoff wrote on social media, “Nothing creates more interest in the NFL than trades… More picks to trade = more trades = more interest and team-building options.”

We took those words to heart in this mock draft, projecting trades for every pick of the first round. Not all these trades will occur, obviously. But this exercise is intended to demonstrate which teams have the draft capital to be aggressive and which fan bases should be fully expecting their favorite clubs to trade down, rather than stick and pick. 

FIRST ROUND

1. New York Jets (from Raiders): Fernando Mendoza, QB, Indiana 

To be clear, I don’t think there is any way the Raiders trade the No. 1 overall pick. They currently have just one QB on their roster (Aidan O’Connell) and a huge part of their recruitment of new head coach Klint Kubiak was surely the opportunity to select Mendoza, a terrific fit for his offense. However, the Jets have the assets necessary to tempt the Raiders and their actions this offseason — including the Nos. 2, 16 and 44 picks in this draft. Moreover, their decision to retain Breece Hall, sign veteran LB Demario Davis and trade for both Geno Smith and Minkah Fitzpatrick speak to the urgency GM Darren Mougey and head coach Aaron Glenn are operating with to save their jobs. Mendoza has the talent and intangibles to handle the unique pressure of playing in the country’s largest media market, and he wouldn’t be forced onto the field early with Smith already on the roster. 

2. Las Vegas Raiders (from Jets): Arvell Reese, LB, Ohio State

The Jets would have to pay plenty to move up to the first pick for Mendoza. While I’m still not convinced the Raiders would do it, if they liked any other quarterbacks in this class, the possibility exists. Reese’s ability to play both off-ball linebacker and attack off the edge opposite Maxx Crosby is certainly intriguing, especially given his ability to spy the mobile quarterbacks of the AFC West. 

3. Washington Commanders (from Cardinals): Jeremiyah Love, RB, Notre Dame

If the Commanders are really serious about protecting Jayden Daniels, they’ll insulate him with a dynamic runner and won’t risk losing the opportunity to draft him by waiting until they are on the clock at No. 7 overall. With just six draft picks in 2026 (including no second-round selection), Washington would have to be bold, indeed, to make this move, likely having to trade not only this year’s first round pick but next year’s, as well.

4. Kansas City Chiefs (from Titans): Sonny Styles, LB, Ohio State 

Jumping from the No. 9 selection to No. 4 overall would likely cost the Chiefs at least their third- (No. 74) and fourth-round (No. 109) picks this year, but adding a difference-maker like Styles would be worth it. The Chiefs need to find a new star to build a reshuffled defense around, and with the dynamic dual-threat quarterbacks in the AFC West, the speedy Styles would be an excellent choice. 

5. Miami Dolphins (from Giants): Carnell Tate, WR, Ohio State

The Dolphins are looking for new playmakers after an offseason in which longtime stalwarts Tua Tagovailoa and Jaylen Waddle (and Tyreek Hill) have been cast aside. New QB1 Malik Willis has little chance at success if the Dolphins don’t give him some weapons. With an NFL-best seven picks among the top 94 — beginning with the No. 11 pick — and 11 overall, Miami has the draft capital needed to be aggressive. 

6. Dallas Cowboys (from Browns): David Bailey, Edge, Texas Tech 

Jerry Jones is perennially in win-now mode, but with longtime NFC East rival Washington making the splashy trade up to secure star running back Jeremiyah Love a few picks earlier, the Cowboys may react even more aggressively. It might cost the Cowboys both of their first0round picks in the 2026 draft (Nos. 12 and No. 20) to secure the best pass-rusher in this class, but boosting a rush that finished last season tied for 28th in the NFL should be a top priority. 

7. Arizona Cardinals (from Commanders): Francis Mauigoa, OT, Miami

New head coach Mike LaFleur inherits a team that finished a distant fourth in the NFL’s top division a year ago. This will not be a one-year rebuild. Adding Washington’s first-round pick in a 2027 draft class that is widely expected to be loaded with QB talent gives LaFleur and general manager Monti Ossenfort plenty of flexibility. For now, adding a bully along the offensive line to help protect that future investment at quarterback makes the most sense. 

8. Baltimore Ravens (from Saints): Mansoor Delane, CB, LSU

Delane grew up in Silver Spring, Md., rooting for the Baltimore Ravens, and a bold move up by GM Eric DeCosta to make him the first defensive back drafted in 2026 would undoubtedly be a dream come true for the gifted cornerback. Boosting the secondary could go a long way toward resurrecting Baltimore’s Super Bowl aspirations, making it worth it — at least in my opinion — to consider offering the Saints a couple of middle-round picks (like No. 73 and 136, for example) to do it. 

9. Tennessee Titans (from Chiefs): Rueben Bain Jr., Edge, Miami

Pairing Bain — the most violent player in this class — with Jeffery Simmons would be just the sort of move that Robert Saleh would push for at No. 4 overall. The short arm concerns, however, could push him down the board and would certainly make the Titans an early “winner” if they were able to add him, as well as a couple of extra mid-round picks, by trading down. 

10. Minnesota Vikings (from Bengals): Caleb Downs, S, Ohio State

Some believe that safeties just aren’t valuable enough in today’s NFL to justify a top-10 selection, but I think Downs’ tape over the past three seasons proves that he is the best player in this draft class. If he slips far enough, some savvy team is going to look brilliant. Sign me up for Downs in Brian Flores’ defense. Minnesota might have to give up both of their third-round picks (Nos. 82 and 97) to pull off a trade into the top 10, but as the signing of Kyler Murray proves, the Vikings aren’t afraid of bold action. 

11. New York Giants (from Dolphins): Kadyn Proctor, OL, Alabama

The Giants would be living up to their name with the addition of the 6-foot-7, 352-pound Proctor, who ranks among the most polarizing prospects in this class. John Harbaugh won with massive offensive lines in Baltimore, and I don’t expect his style to change now. Whether it be at tackle or guard, I believe Proctor projects as a decade-long NFL starter. The Dolphins have four picks in the third round this year. The Giants can net at least two of those to move out of the top 10. 

12. Cleveland Browns (from Cowboys): Spencer Fano, OT, Utah

The Browns have addressed their offensive line in free agency, but if arguably the most gifted blocker in this class is still on the board after a trade down, they shouldn’t hesitate to take him. With improved blocking and receiving (more on that later), Cleveland can accurately evaluate its young QBs and determine whether Shedeur Sanders or Dillon Gabriel is its long-term answer or if it will, again, be heavily scouting next year’s crop. 

13. Pittsburgh Steelers (from Rams via Falcons): Vega Ioane, OG, Penn State

Pittsburgh is hosting the draft this year, and with a league-high 12 draft picks at his disposal, GM Omar Kahn is well-positioned to make a splash for the home crowd. While a gamble on Alabama QB Ty Simpson would make some Steelers fans happy, an investment in the trenches would seemingly be more Pittsburgh’s style, especially if it was done to steal a local fan favorite from Baltimore, the hated divisional rival picking next (who is also thought to view Ioane highly). The rugged Ioane would be an upgrade over free-agent defection Isaac Seumalo and perhaps offer a comfy enough pocket for Aaron Rodgers to return. Trading away two of the five picks the Steelers currently have between Nos. 76 and 161 overall would probably be enough to convince the Rams it’s worth trading back. 

14. New Orleans Saints (from Ravens): Kenyon Sadiq, TE, Oregon

The Saints appear to be moving on from veteran Taysom Hill, and Kellen Moore knows as well as anyone that a playmaking tight end can be a huge help for a young quarterback. Sadiq is a remarkable talent just scratching the surface of his potential. To drop down this far, the Saints can expect at least two middle-round selections from Baltimore, as well as the swap of first-round picks. The extra picks could go a long way in resetting this roster to best fit Moore’s vision. 

15. Philadelphia Eagles (from Buccaneers): Makai Lemon, WR, Southern Cal

Howie Roseman has put together one of the NFL’s best rosters, making it unlikely that all nine of this year’s draft picks will make the team. Packaging some of those — or even adding next year’s projected third-round compensatory pick (for Jaelan Phillips) to add a skilled, versatile and hungry playmaker like Lemon would provide the club insurance if things get to a breaking point with A.J. Brown. Lemon is a pinball who could feast on the single coverage he would see should Brown remain flying for the Eagles this fall.

16. Las Vegas Raiders (from Jets via Colts): Denzel Boston, WR, Washington

One of the few (only?) reasons why the Raiders might consider trading Mendoza at No. 1 overall is the fact that the team currently lacks proven difference-makers at receiver. Boston has the frame and game to contribute immediately, especially given the one-on-one opportunities he’ll likely see with defenses focused on Vegas’ stellar tight ends Brock Bowers and Michael Mayer and promising running back Ashton Jeanty.  

17. Carolina Panthers (from Lions): Dillon Thieneman, S, Oregon

Carolina GM Dan Morgan made a career at middle linebacker anticipating where ballcarriers were headed, and with Thieneman seemingly a perfect fit for the Vikings picking at No. 18 overall (or the Bengals in this scenario), the Panthers might need to trade up to secure his services. The Lions have nine picks but only two of them in the top 117 selections. Carolina might offer their fourth-rounder (#119 overall) as fair compensation for Detroit to move down two spots. 

18. Cincinnati Bengals (from Vikings): Colton Hood, CB, Tennessee

In yet another example of a team receiving extra picks in a trade down and yet still filling a key need, the Bengals should be able to take advantage of this year’s quality cornerback depth while moving out of the top 10. Hood has the pure cover skills and untapped potential the Bengals have long prioritized under Duke Tobin. 

19. Detroit Lions (from Panthers): Caleb Lomu, OT, Utah

Like the Bengals a pick earlier, the Lions can add to their draft class — acquiring a 10th pick — and still nab a tackle they understandably could be targeting at No. 17 in Lomu. The precocious 6-foot-6, 313-pound redshirt sophomore might one day prove the best tackle of this class. 

20. Jacksonville Jaguars (from Browns via Cowboys via Packers): Jordyn Tyson, WR, Arizona State 

The Jaguars refuted offseason reports that 2024 first-round pick Brian Thomas Jr. was on the trade block. They can deal him here, however, and pounce on an opportunity to reset the position with arguably the most talented pass-catcher of this class. Jacksonville and Cleveland have recent trade history, of course, with the Jags boldly moving up in the 2025 draft to select Travis Hunter. This time, they add a dynamic playmaker to complement Hunter and ship another one who doesn’t appear to be in their long-term plans to a franchise desperate for talent at receiver. To complete this trade, Jacksonville would probably have to sweeten the deal with a couple of its 11 draft picks, including three selections in the third round. 

21. Los Angeles Rams (from Steelers): Omar Cooper Jr., WR, Indiana

Speaking of the offseason, the aggressive upgrades at cornerback make it clear that the Rams are all-in on another Super Bowl run, so a trade up might seem more likely than moving back. But with so much salary dedicated to some of their stars, GM Les Snead might be looking for young, cheap talent. While the Rams have seven picks to work with in this draft, four of them are between 207-252. Cooper could feast on the one-on-one matchups he’d see with the Rams and replace the jet-sweep possibilities they lost with Tutu Atwell leaving in free agency. 

22. Miami Dolphins (from Chargers): Aveion Terrell, CB, Clemson 

Changes on offense have dominated the Dolphins’ offseason, but there are plenty of concerns on defense, as well. Behind likely top-10 pick Mansoor Delane, Terrell — an NFL legacy — is viewed by some scouts as the safest cornerback of this class. The Dolphins have a league-high four picks in the third round to part with. 

23. Tampa Bay Buccaneers (from Eagles): Keldric Faulk, DL, Auburn

GM Jason Licht has some retooling to do with Mike Evans now playing for the 49ers and Lavonte David officially retiring this week. Faulk is a 21-year-old, 6-foot-6, 276-pound ball of clay whose best football is ahead of him and quite the consolation prize at this point in the draft following a trade down to add to their seven selections. 

24. Indianapolis Colts (from Browns via Jaguars): Monroe Freeling, OT, Georgia

Colts GM Chris Ballard might have to trade back into the first round, after shipping his initial top pick a year ago to the Jets for cornerback Sauce Gardner. It would probably take Indy’s second-round pick this year (No. 47) and another Day 2 selection next year to move up this far, but the club would be wise to give young right tackle Jalen Travis quality competition to replace longtime standout Braden Smith. 

25. New England Patriots (from Bears): Emmanuel McNeil-Warren, S, Toledo

The Patriots got an up-close look at Seahawks rising star Nick Emmanwori in the Super Bowl. And given the talent the Pats already have at cornerback, one couldn’t blame general manager Eliot Wolf if he saw McNeil-Warren, who boasts comparable size and athleticism to Emmanwori, as capable of making a similar type of immediate impact on New England’s defense. The Pats have 11 draft picks in 2026, and they can be aggressive with them in hopes of returning to the Super Bowl. 

26. Houston Texans (from Bills): Kayden McDonald, DT, Ohio State

In a case of the rich getting richer, the Texans boost one of the league’s dominant defenses with this year’s top interior lineman. Houston might be able to get McDonald at No. 28 overall, but they shouldn’t balk at giving up a Day 3 pick if it means ensuring they land one of the few nose guards with legitimate pass rush ability. 

27. Kansas City Chiefs (from 49ers): Chris Johnson, CB, San Diego State

Packaging the No. 29 overall selection acquired in the deal with the Los Angeles Rams that sent cornerback Trent McDuffie to the NFC, the Chiefs boldly move up to land a similarly smooth cover-corner in Johnson, the reigning Mountain West Defensive Player of the Year.  

28. Buffalo Bills (from Texans): Cashius Howell, Edge, Texas A&M

The Bills must add pass-rushers, and Howell is among the elite QB hunters of this draft class. He lacks the frame some teams require at the position, but his burst and bend off the edge could make him a 10-plus sack artist in the NFL. In this scenario, the Bills likely could pry pick No. 141 — the first pick of the fifth round — from Houston to move down two spots. 

29. San Francisco 49ers (from Chiefs via Rams): KC Concepcion, WR, Texas A&M

Even after the signings of veterans Mike Evans and Christian Kirk, the 49ers have been kicking the tires on several wideouts expected to be drafted in the first round. San Francisco knows all too well the impact that Rashid Shaheed had for the Seahawks a year ago. Concepcion is a similar brand of playmaker in the receiving, running and return game. The 49ers should be able to get at least Kansas City’s fifth-round pick (#148) for this small move down, which would give San Francisco an enviable five picks in a 22-selection span early on Day 3. 

30. Los Angeles Chargers (from Dolphins via Broncos): Emmanuel Pregnon, OG, Oregon

The Chargers enter the draft with just five picks. They happily add one of the Eagles’ three Day 2 picks while still reinforcing the interior of their offensive line with the powerful and pro-ready Pregnon. 

31. Chicago Bears (from Patriots): Malachi Lawrence, Edge, UCF

The Bears enter the draft with seven selections, but that number is deceiving as they have a 110 pick gap on Day 3 between the fourth and seventh rounds. I expect Bears GM Ryan Poles will trade down at some point to bridge that gap. If he can do so early and still get a dynamic edge rusher (who, frankly, should be in consideration with their original pick at No. 25), Poles will be giving the Bears their best chance for the kind of draft class that can spring a Super Bowl run. 

32. Las Vegas Raiders (from Seahawks): Ty Simpson, QB, Alabama

I cannot see a way in which the Raiders end the first round of the 2026 NFL draft without adding another quarterback to the roster. Given the connections Kubiak has with Seattle, a trade with the defending Super Bowl champs might be his last, good opportunity to do so. Simpson possesses the IQ, accuracy and mobility to be successful in Kubiak’s scheme. He might very well be available at No. 36, but the fifth-year option on the rookie contract all first rounders receive makes it more responsible financially to draft quarterbacks in the first round. To pry this pick from the Seahawks, the Raiders give up No. 36 overall, as well as veteran defensive end Tyree Wilson. 

SECOND ROUND (*teams without a first-round pick)

36. Seattle Seahawks (from Raiders): Jadarian Price, RB, Notre Dame

The Seahawks are Super Bowl champions, but with a league-low four draft picks, winning this year’s draft is going to be nearly impossible. Adding a back with a skill set well-suited to their wide zone running scheme would be a good start, however, especially if in doing so, Seattle also received veteran edge rusher Tyree Wilson. 

44. Green Bay Packers (from Falcons): Lee Hunter, DT, Texas Tech

Even after trading away their top pick for Micah Parsons, the Packers still have seven selections in this draft. But five of those are on Day 3, giving GM Brian Gutekunst minimal flexibility to move up. Adding a true nose guard is critical to the run defense, however, and the Packers don’t want to risk losing on a talent like the block-eating Hunter, so offering the Falcons No. 52 overall, as well as this year’s fifth-round pick (No. 160) might do the trick.  

52. Atlanta Falcons (from Titans via Chiefs): R Mason Thomas, Edge, Oklahoma

Ian Cunningham wasn’t with the Falcons last year when the club traded up to select James Pearce Jr. With the star pass-rusher currently facing multiple felony charges, the new Falcons GM might have little choice but to seek a replacement. Thomas has the burst to wreak havoc off the edge, and a trade with Green Bay would net the Falcons at least one more selection. Atlanta has just five picks in 2026, with a league-low two of them among the top-100 selections. 

54. Denver Broncos (from Buccaneers via Eagles): Eli Stowers, TE, Vanderbilt

As it stands now, the Broncos’ first pick in the 2026 draft is No. 62 overall, significantly lower than any other NFL team. Of course, that is because Denver exchanged their top original first-round slot for speedy Dolphins wideout Jaylen Waddle. Doubling down on that decision with another aggressive trade for a playmaking pass-catcher like Stowers seems like a Sean Payton-type move, and this time it might only cost the Broncos’ the second of their two third-round picks (No. 111) this year. 

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The Kalshi promo code FOXSPORTS gives new users a simple welcome offer: trade $10 in prediction markets and receive a $10 bonus.

The chase for the Final Four continues for these women’s teams today with Michigan taking on Texas. South Carolina then faces TCU. The Pistons meet the Thunder in the NBA. MLB action continues, and the Islanders face the Penguins in a marquee NHL matchup.

Unlike traditional sportsbooks, Kalshi operates as a federally regulated prediction market exchange where users trade contracts based on real-world outcomes. These markets cover a wide range of topics, including:

• Sports games and championships
• Elections and political outcomes
• Economic indicators
• Weather events
• Pop culture predictions

Unlike traditional sportsbooks, Kalshi allows users to buy and sell event contracts tied to probabilities, with prices ranging from $0 to $1 depending on how likely an outcome is to happen. When you sign up and use the Kalshi bonus code FOXSPORTS, you can start trading these markets and qualify for the new-user bonus after completing your first $10 in trades.

Current Kalshi Promo Code FOXSPORTS Details: Get a $10 Bonus After Your First $10 Trade

Enter the Kalshi promo code FOXSPORTS, trade $10 in prediction markets, and you’ll receive $10 in bonus trading credit.

Kalshi Promo Code FOXSPORTS Terms & Conditions

• The Kalshi FOXSPORTS welcome bonus is only available to new accounts.
• Users must trade at least $10 in event contracts to receive the $10 bonus.
• The reward is issued as bonus trading credit, not withdrawable cash.
• Users must be 18 years or older and located in an eligible U.S. jurisdiction.
• The Kalshi platform is currently unavailable in Arizona, Illinois, Massachusetts, Maryland, Michigan, Montana, New Jersey, and Ohio.
• Users must complete KYC verification before depositing or trading.
• Kalshi operates under regulation from the Commodity Futures Trading Commission (CFTC).

How to Claim the Kalshi Welcome Bonus

1. Click one of the Claim Now buttons on this page (or click here) to visit Kalshi and start the signup process.
2. Create a new Kalshi account using your email address and basic registration details.
3. Enter Kalshi promo code FOXSPORTS during signup so the welcome offer is attached to your account.
4. Complete identity verification, which Kalshi requires before users can deposit and trade.
5. Deposit funds and trade at least $10 in event contracts to receive the $10 bonus trading credit.

What Is Kalshi?

Kalshi is a regulated prediction market platform where users trade contracts based on the outcomes of real-world events. Instead of placing traditional bets like you would at a sportsbook, Kalshi allows users to buy and sell “Yes” or “No” contracts tied to specific questions.

These questions can cover a wide range of topics, including:

• Sports games and championships
• Elections and political outcomes
• Economic data releases
• Weather events
• Entertainment and pop culture

Each contract is priced between $0 and $1, which represents the market’s estimated probability of that event occurring.

For example, if a contract is priced at $0.65, the market is implying a 65% chance that the event will happen. If the prediction is correct, the contract settles at $1. If the outcome is incorrect, it settles at $0.

Unlike traditional sportsbooks, where bettors wager against the house, Kalshi functions more like a financial exchange where users trade against other participants in the market.

The platform operates under oversight from the Commodity Futures Trading Commission (CFTC), making it one of the only federally regulated prediction markets available to U.S. users.

What Can You Trade on Kalshi?

Kalshi offers a wide range of prediction markets that allow users to trade contracts tied to real-world outcomes. These markets go far beyond sports and cover events across politics, economics, weather, and pop culture.

Because Kalshi is structured as a prediction market exchange, users can also sell their contracts before an event is finalized if prices move in their favor. This allows traders to lock in profits or reduce losses based on changing market probabilities.

Some of the most common types of markets available on Kalshi include:

Sports markets

Users can trade contracts on outcomes in leagues such as the NFL, NBA, MLB, NHL, and major college sports. A typical market might ask which team will win a game or championship.

Political markets

Kalshi became widely known for its election prediction markets. Users can trade contracts related to election outcomes, control of Congress, and other political developments.

Economic markets

Many traders use Kalshi to speculate on economic indicators such as inflation, unemployment reports, interest rate decisions, and other government data releases.

Weather markets

Kalshi also lists contracts based on measurable weather events, such as temperature levels, snowfall totals, and hurricane activity.

Entertainment and pop culture markets

The platform occasionally offers markets tied to major cultural events like award shows, movie releases, or trending news topics.

How Kalshi Prediction Markets Work

Kalshi markets are built around simple yes-or-no questions about real-world events. Each possible outcome is represented by a contract that traders can buy or sell.

Contracts are priced between $0 and $1, which reflects the market’s estimated probability of the event occurring.

For example:

• If a contract trades at $0.70, the market believes there is a 70% chance the event will happen.
• If the event occurs, the contract settles at $1.
• If the event does not occur, the contract settles at $0.

Your profit depends on the difference between the price you paid and the final $1 settlement value.

For example, buying a contract at $0.60 would return $1 if correct, creating a profit of $0.40 per share.

Another key difference from traditional sports betting is that contracts can be sold before the event finishes. If the probability of your prediction increases, you may be able to sell your contract early for a profit rather than waiting for final settlement.

Because the market is driven by buyers and sellers, prices can move throughout the day as new information becomes available. This is why Kalshi markets often behave more like financial exchanges than sportsbooks.

Where is Kalshi Legal in the United States

Kalshi operates under federal oversight from the Commodity Futures Trading Commission (CFTC), which means the platform is available to users across most of the United States.

Because Kalshi is classified as a prediction market exchange rather than a traditional sportsbook, it is not regulated under state gambling laws the same way sports betting apps are. This allows Kalshi to operate nationally in many jurisdictions where sports betting is still illegal.

As of March 2026, Kalshi is available in most U.S. states, but the platform is currently restricted in several jurisdictions.

States Where Kalshi Is Legal

• Alabama
• Alaska
• Arkansas
• California
• Colorado
• Connecticut
• Delaware
• Florida
• Georgia
• Hawaii
• Idaho
• Indiana
• Iowa
• Kansas
• Kentucky
• Louisiana
• Maine
• Minnesota
• Mississippi
• Missouri
• Nebraska
• Nevada
• New Hampshire
• New Mexico
• New York
• North Carolina
• North Dakota
• Oklahoma
• Oregon
• Pennsylvania
• Rhode Island
• South Carolina
• South Dakota
• Tennessee
• Texas
• Utah
• Vermont
• Virginia
• Washington
• West Virginia
• Wisconsin
• Wyoming
• Washington, D.C.

States Where Kalshi is Not Available

Kalshi Fees and Payment Methods

Before trading prediction markets on Kalshi, users need to fund their account. The platform supports several common banking options, including traditional bank transfers and crypto deposits.

Kalshi’s fee structure is relatively simple compared to many betting or trading platforms. Most deposits are free, though some payment methods may include small processing fees.

Kalshi Deposit and Withdrawal Methods

Kalshi may also charge small trading fees on matched orders, which are calculated based on the price and size of the contracts being traded.

Withdrawals may include a flat processing fee, depending on the method selected.

Kalshi vs Traditional Sportsbooks

Kalshi may feel similar to sports betting apps at first, but the platform actually operates very differently from traditional sportsbooks like DraftKings or FanDuel.

Instead of betting against a sportsbook that sets the odds, Kalshi operates as a prediction market exchange where users trade contracts against other market participants. Prices move based on supply and demand, and contracts settle at $1 if the predicted outcome occurs.

This structure makes Kalshi function more like a financial exchange than a traditional betting platform.

Kalshi Combos

Kalshi also offers combos, which allow users to combine multiple event contracts into a single position. This works similarly to a parlay in traditional sports betting, where several predictions are linked together into one trade.

When using combos on Kalshi, the probability of all outcomes occurring is combined into a single price. Because multiple events must be correct, the potential return is higher than trading a single contract.

For example, a combo might include:

• An NBA team to win a game
• An NFL team to win a matchup
• A college basketball team to advance in a tournament

If all of the predictions in the combo are correct, the position settles at $1 per contract, just like any other Kalshi market.

Combos are most commonly available for major professional sports leagues, including the NBA and NFL. They allow traders to build higher-risk, higher-reward positions using multiple events within the same trade.

However, it’s important to remember that because several outcomes must be correct, combos also carry greater risk than single-event contracts.

Kalshi Pros and Cons

Like any trading platform, Kalshi has advantages and limitations. Understanding how the prediction market works can help users decide whether it fits their trading style.

Pros

• Available in most U.S. states: Because Kalshi is regulated at the federal level, it is accessible in many states where traditional sports betting apps are not available.
• Unique prediction markets: Kalshi offers markets on sports, elections, economic data, weather, and pop culture events that you won’t find at traditional sportsbooks.
• Transparent pricing model: Contracts are priced between $0 and $1, which directly reflects the market’s probability of an event occurring.
• Ability to exit trades early: Users can sell contracts before the event settles, allowing them to lock in profits or cut losses as probabilities change.
• Low trading costs: Kalshi uses small transaction fees rather than the built-in sportsbook vig typically found in betting odds.

Cons

• Smaller welcome bonus than sportsbooks: The typical Kalshi promotion is a Trade $10, Get $10 offer, which is smaller than many sportsbook sign-up bonuses.
• Learning curve for new users: Prediction markets use probability pricing rather than traditional betting odds, which may take time for some users to understand.
• Some markets have limited liquidity: Less popular markets may have wider spreads or fewer traders compared to high-volume sports events or economic markets.

Kalshi Promo Code FAQ

What is the current Kalshi promo code?

The current Kalshi promo code is FOXSPORTS. New users who sign up with this code can receive a $10 bonus after completing $10 in trades on the platform.

How do you get the Kalshi $10 bonus?

To receive the Kalshi welcome bonus, create a new account using promo code FOXSPORTS, deposit funds, and complete at least $10 in event contract trades. Once the requirement is met, Kalshi will credit your account with the $10 bonus trading credit.

Is Kalshi legal in the United States?

Yes. Kalshi operates as a federally regulated prediction market exchange under oversight from the Commodity Futures Trading Commission (CFTC). The platform is available in most U.S. states, though it is currently restricted in Arizona, Illinois, Massachusetts, Maryland, Michigan, Montana, New Jersey, and Ohio.

How do Kalshi contracts work?

Kalshi contracts are priced between $0 and $1, which represents the market’s estimated probability of an event occurring. If the predicted outcome happens, the contract settles at $1. If it does not occur, the contract settles at $0.

What payment methods does Kalshi accept?

Kalshi supports several funding options, including debit cards, bank transfers (ACH), Apple Pay, wire transfers, and USDC crypto deposits.