World Cup Winner
Yes 13%
No 87%
Vol. $2514.8M
Confirmed: Kalshi does not accept UK residents. Attempting to register with a UK address or phone number will fail at the verification stage. This is a regulatory restriction, not a technical one.
What is Kalshi?
Kalshi is a New York-based prediction market exchange founded in 2018 by Tarek Mansour and Luana Lopes Lara. In November 2020, Kalshi became the first company to receive a Designated Contract Market (DCM) licence from the US Commodity Futures Trading Commission (CFTC) — making it the only federally regulated prediction market in the United States.
Kalshi offers event contracts on elections, economic indicators, weather, sports, and entertainment. Contracts are denominated in US dollars (not cryptocurrency). The platform charges between 0 and 7 cents per contract depending on market and contract type. Kalshi has raised over $100 million from investors including Sequoia Capital and Y Combinator.
How Kalshi Contracts Work
Kalshi contracts are binary options on real-world events. Each contract costs between $0.01 and $0.99. If the event resolves YES, the contract pays $1.00. If NO, it pays $0.00. You can buy YES or NO at any time before market close. Kalshi acts as the central counterparty (CCP), guaranteeing settlement — there is no smart contract or on-chain settlement.
This is the key structural difference from Polymarket: Kalshi is a centralised regulated exchange with FDIC-insured USD deposits, while Polymarket is a decentralised on-chain CLOB with USDC settlement. For UK users, this distinction is moot because neither is accessible directly.
Why Kalshi is Not Available in the UK
Kalshi's CFTC DCM licence specifically authorises it to offer event contracts to Eligible Contract Participants (ECPs) and retail customers who are US persons under the Commodity Exchange Act. Offering these contracts to UK residents would constitute regulated financial activity in the UK, requiring authorisation from the Financial Conduct Authority (FCA) under the Financial Services and Markets Act 2000 (FSMA).
Kalshi does not hold FCA authorisation and has not applied for it as of 2026. The FCA's consumer investment framework and its forthcoming crypto-asset regulation (expected fully by 2026) would both need to be navigated before Kalshi could legally serve UK retail customers.
Do not use a VPN to access Kalshi from the UK. Using a VPN to circumvent Kalshi's geographic restrictions violates their Terms of Service. Kalshi performs identity verification (KYC) that requires a US address and US phone number. A UK resident cannot pass KYC regardless of IP address.
Kalshi vs Polymarket: Key Differences
| Feature | Kalshi | Polymarket |
|---|---|---|
| Regulation | CFTC DCM (US) | None (decentralised) |
| UK access | ✗ No | ✗ No (geoblocked) |
| Settlement | USD (fiat) | USDC (Polygon) |
| Fees | 0–7¢/contract | 0% |
| Monthly volume | ~$50M | ~$300M+ |
| KYC | Required (US SSN) | Required (non-US) |
| Resolution | Internal committee | UMA oracle (on-chain) |
Best Kalshi Alternatives for UK Users
UK traders looking for prediction market access have the following options, ranked by suitability:
1. PolyGram (Recommended)
PolyGram mirrors Polymarket's CLOB order book and is fully accessible from the UK. It offers the largest selection of event contracts (politics, crypto, sports, economics) with 0% trading fees and USDC settlement. For UK traders who want real-money prediction markets, PolyGram is the practical equivalent of what Kalshi offers US traders.
2. Spread Betting (FCA-Regulated)
IG Index and Spreadex offer political and economic spread bets under FCA authorisation. You trade in GBP. Spreads are wider than CLOB markets (effectively 2-5% implicit fees) but the regulatory protection is stronger. Best for UK traders who want regulatory certainty at the cost of higher fees.
3. Manifold Markets (Play Money Only)
Manifold is available globally but uses play money. No real financial risk, no real financial reward. Good for learning prediction market mechanics.
Access Prediction Markets from the UK
PolyGram gives UK traders access to Polymarket's CLOB — the largest prediction market order book in the world.
Trade on PolyGram →Frequently Asked Questions
Is Kalshi available in the UK?
No. Kalshi is a US-regulated exchange (CFTC-licensed) and is only available to US residents. UK residents cannot create a Kalshi account or trade on the platform.
Why is Kalshi not available in the UK?
Kalshi operates under a CFTC Designated Contract Market licence, which only authorises it to serve US persons. Serving UK residents would require separate FCA authorisation, which Kalshi does not hold.
What is the best Kalshi alternative for UK users?
PolyGram is the best Kalshi alternative for UK traders. It mirrors Polymarket's CLOB (the largest prediction market order book globally) and is fully accessible from the UK.
Does Kalshi plan to expand to the UK?
Kalshi has not announced UK expansion plans as of 2026. With the FCA's digital asset regulatory framework still developing, a UK-regulated prediction market exchange could be 1-3 years away from launch.
How does Kalshi compare to Polymarket?
Kalshi is CFTC-regulated, uses USD fiat, and charges 0-7¢/contract fees. Polymarket is decentralised, uses USDC on Polygon, and charges 0% fees. Polymarket has ~10x higher trading volume. Neither is available to UK users directly; PolyGram mirrors Polymarket's CLOB for UK access.
Are there any regulated prediction markets available in the UK?
No dedicated regulated prediction market exchange currently operates in the UK. Spread betting on political/economic events is available via FCA-regulated firms (IG, Spreadex) as a regulated alternative with GBP settlement.