With the U.S. presidential election just days away, Kalshi has announced that traders on its platform can now make deposits using debit cards and Apple Pay. This new feature aims to simplify the deposit process, providing users with quick, convenient funding options right before one of the biggest trading events of the year.
As of last night, you can trade on Kalshi with debit cards and Apple Pay.
— Tarek Mansour (@mansourtarek_) November 1, 2024
Easy. Instant. One-click. Easy. https://t.co/qMXMr2NL4u
The timing of Kalshi’s announcement is strategic. Historical data from other prediction markets indicates that trading volume spikes dramatically around major political events. For instance, in Polymarket’s market for the Vice Presidential debate, trading volume surged from $225,000 before the debate to nearly $822,000 afterward, ultimately reaching $1.7 million by the following Monday. Kalshi, anticipating similar interest for the presidential election, appears well-positioned to capture increased volume through these easier payment options.
According to Kalshi, funds deposited by wire, crypto, debit card, or Apple Pay will arrive in user accounts in as little as one day or instantly. ACH transfers, depending on the amount and method, take a little longer.
To make sure your deposit lands in time for elections:
— Kalshi (@Kalshi) October 31, 2024
ACH under $1k: Today
ACH $1k and over: Tomorrow
Wire (unlimited): Monday
Crypto ($500k per transfer): Tuesday
Card ($100 a day): Tuesday
In announcing the new options, Kalshi also took a jab at its competitor Polymarket through a meme, highlighting the ease of using debit cards and Apple Pay on its platform. By contrast, Polymarket requires U.S. users to use a VPN and fund accounts with cryptocurrency, a process Kalshi’s regulated platform is sidestepping.
Kalshi’s emphasis on simplicity and regulatory compliance underlines its strategy to stand out in a crowded field, especially with election-driven trading activity at its peak.
