{"id":14283,"date":"2025-03-25T11:25:34","date_gmt":"2025-03-25T11:25:34","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=14283"},"modified":"2025-03-25T11:25:34","modified_gmt":"2025-03-25T11:25:34","slug":"kalshis-prediction-market-surges-with-close-to-250m-in-ncaa-contracts","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/kalshis-prediction-market-surges-with-close-to-250m-in-ncaa-contracts\/","title":{"rendered":"Kalshi\u2019s Prediction Market Surges with Close to $250m in NCAA Contracts"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2025\/03\/kalshi.jpg\" alt=\"Kalshi\" title=\"Kalshi\u2019s Prediction Market Surges with Close to $250m in NCAA Contracts\" width=\"300\" class=\"alignleft size-full wp-image-14284\" \/><strong>Summary:<\/strong><\/p>\n<ul>\n<li>Kalshi\u2019s betting prediction market has almost reached the $250 million in contracts mark. .<\/li>\n<li>The result was generated during the NCAA Tournament\u2019s first two rounds..<\/li>\n<li>EKG\u2019s Earnings + More Substack estimates a total tournament handle at $2.63 billion.<\/li>\n<\/ul>\n<p>Kalshi\u2019s foray into the sports betting prediction markets has kicked off remarkably. <\/p>\n<p>The regulated exchange and prediction market that <strong>enables users to trade on the outcome of events happening in the real world<\/strong> has partnered with Robinhood, reporting an impressive $249 million in contracts generated amid the first two rounds of the <a href=\"https:\/\/www.legitgambling.com\/sports-betting\/basketball\/college\">NCAA College Basketball Tournament<\/a>.<\/p>\n<h2>Duke Is in the Lead<\/h2>\n<p>On <a href=\"https:\/\/kalshi.com\">Kalshi\u2019s website<\/a>, Duke currently leads as the favorite to win it all, with a Yes\/No buy price of 30 cents\/72 cents. Florida and Houston, both No. 1 seeds, are close behind, with Florida trading at 19\/82 and Houston at 16\/85.<\/p>\n<p>For context, <strong>Kansas reported a sports betting handle of $252.9 million for March 2024<\/strong>, ranking 19th out of the 33 states with commercial sports betting. <\/p>\n<p>Meanwhile, <a href=\"https:\/\/www.legitgambling.com\/news\/north-carolina-moves-forward-with-retail-sports-betting\/\">North Carolina<\/a>, which launched its regulated sportsbooks that same month, saw $659.3 million in wagers in its first three weeks, helped in part by North Carolina State\u2019s unexpected Final Four run as an 11-seed. <\/p>\n<p>That figure, however, was bolstered by $202.6 million in promotional credits from mobile sportsbooks.<\/p>\n<p>The $249 million in action on Kalshi represents roughly 8% of the $3.1 billion the American Gaming Association estimated would be legally wagered on the men\u2019s and women\u2019s NCAA Tournaments this year. <\/p>\n<p>That projection didn\u2019t seem to account for Kalshi\u2019s nationwide customer base. Meanwhile, EKG\u2019s Earnings + More Substack estimated the total handle for the tournament to be $2.63 billion.<\/p>\n<h2>Expected IC 360 Partnership <\/h2>\n<p>Kalshi has also announced it will be moving forward with its game integrity and responsible gaming policies.<\/p>\n<p>The company will soon announce a partnership with <strong>IC 360<\/strong>, a firm that tracks suspicious betting activity for regulated sportsbooks, which will now extend its oversight to Kalshi\u2019s sports event contracts.<\/p>\n<p>Plus, the deal will also incorporate the <a href=\"https:\/\/ic360.io\/prohibet\">ProhiBet system<\/a>. The latter is aimed at stopping athletes, coaches, and team staff from wagering at traditional sportsbooks as well as within Kalshi\u2019s prediction markets.<\/p>\n<p>The company is also getting ready to roll out a \u201c<em>consumer protection hub<\/em>\u201d, where users can take responsible gaming measures such as self-exclusion, temporary account suspensions, and deposit limits. <\/p>\n<p>Kalshi will frame its self-exclusion as \u201c<em>voluntary opt-outs<\/em>\u201d while deposit limits will be called \u201c<em>personalized funding caps<\/em>\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary: Kalshi\u2019s betting prediction market has almost reached the $250 million in contracts mark. . The result was generated during the NCAA Tournament\u2019s first two rounds.. EKG\u2019s Earnings + More Substack estimates a total tournament handle at $2.63 billion. Kalshi\u2019s foray into the sports betting prediction markets has kicked off remarkably. The regulated exchange and [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,1],"tags":[],"class_list":["post-14283","post","type-post","status-publish","format-standard","hentry","category-sports","category-usa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Kalshi\u2019s Prediction Market Surges with Close to $250M in NCAA Contracts<\/title>\n<meta name=\"description\" content=\"Kalshi\u2019s new sports betting prediction market has proven to be particularly lucrative, generating roughly $250 million in contracts for the first two rounds of the NCAA Tournament.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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