You can now legally bet on the Super Bowl in all 50 states thanks to the introduction of sports markets on Kalshi and other prediction market sites.
For years, sports bettors in the U.S. faced a patchwork of laws that made betting on the Super Bowl a challenge, if not impossible.
Legal sports betting states have gradually expanded throughout most of the country since 2018, following the landmark decision to overturn the federal ban on sports betting. But a dozen states, including Texas and California, have remained on the sidelines—until now.
Sort of.
Click here to get a $10 Kalshi promo code when you bet on the Super Bowl.
Just in time for the 2025 Super Bowl, prediction market platforms like Kalshi and Crypto.com—federally regulated exchanges—are flipping the script and reshaping the sports betting industry as we know it, much to the chagrin of gaming operators, who have to go through rigorous state-by-state approval processes.
By offering "event contracts" tied to the Super Bowl and other major sports events, these platforms allow users in all 50 states to "bet" - or trade - on outcomes as easily as buying a stock (actually, much easier). Even better? You’re not locked into your bet until the game ends.
If the Eagles start looking shaky, you can sell your Super Bowl bet and cut losses—or cash in early if their odds skyrocket. Think of it as the elusive stock market for sports.
Click here to get a $20 signup bonus when you bet on the Super Bowl with Kalshi.
Here’s the kicker: prediction markets like Kalshi aren’t technically sportsbooks.
They are prediction market exchanges registered with the U.S. Commodity Futures Trading Commission (CFTC) as a Designated Contract Market (DCM). This federal status means state gambling laws don’t apply—even in holdouts like Texas or California, which includes more than 20% of the country’s population. What's more, prediction markets allow you to wager on all sorts of real-world events, like the Presidential election, news events, and entertainment.
Two weeks ago, you merely dreamed of making a legal Super Bowl wager, and now, with seemingly the wave of a magic wand, Super bowl odds are at your fingertips.
Sports trading is live on Kalshi!
Available in all 50 States:
• No house - trade directly with other users in an open market.
• Live trading during the game with no locked lines - cash out anytime.
• No bans or restrictions for winners.
The Golden Age of markets is here. https://t.co/QaQydR15YJ
How is this possible?
The Commodity Exchange Act gives the CFTC authority over derivatives trading, including event contracts. When it comes to regulation, Kalshi’s contracts are treated like financial instruments (think corn futures, but for the Super Bowl).
While states regulate traditional sports betting, federal law preempts them here. That means Super Bowl betting is effectively legal in all 50 states.
Competitor Crypto.com was the first to test the waters of sports event contracts, but Kalshi’s emergence as the top prediction market in the lead-up to the 2024 presidential election has solidified its position as the best place to bet on the Super Bowl.
Kalshi’s Super Bowl markets are straightforward, allowing you to pick the winner of the game. You can trade contracts like:
Each contract costs between $0.01 and $0.99. If your prediction hits, you pocket $1 per contract. For example:
• Buy 100 “YES” contracts on the Chiefs to win at $0.54 ($54 total wagered).
• If they win, you get $100 — $44 in profit.
As it pertains to the actual Super Bowl game, you can only bet on the winner for now.
Kalshi has not yet launched derivatives, such as props, MVP winners, and touchdown markets. Nor do they have point totals (over/unders) and point spreads.
However, you can bet on Super Bowl novelty props related to commercials and Kendrick Lamar’s halftime show, which are legally available only on prediction markets.
In other words, even if you live in a legal sports betting state like New Jersey, you still can’t bet on which songs Kendrick Lamar will play during the Super Bowl halftime show unless you’re doing so on Kalshi.
We will update this post if Kalshi or Crypto.com release more markets for the big game.
Traditional sportsbooks like DraftKings act as the “house.” They set odds and are the market-maker, taking the opposite side of your bet and, in the process, charging you vigorish (the built-in fee).
The “vig” is the sportsbook’s cut, and it’s how they stay in business. Because of the vig, it is very difficult for users to win money long term betting against a sportsbook.
In fact, merely 1-3% of sportsbook users are profitable. That estimate might even be too generous, considering sportsbooks have made a habit of limiting winners.
It’s a tough pill to swallow.
But prediction markets like Kalshi provide a friendlier alternative for sports bettors, benefitting the sports betting ecosystem more broadly.
Take Polymarket, for example. Polymarket is an unregulated exchange, thus not accessible to users in the U.S., but operates very much like Kalshi. An October report showed that 13% of users were profitable on the prediction market, which may not sound like much until you compare it to sportsbooks.
So, why the difference?
Prediction markets like Kalshi are peer-to-peer. Users trade contracts with each other using (buying and selling), and the platform takes smaller fees on transactions, as outlined by their fee schedule.
Users can actually avoid fees by placing “limit orders” and acting as a market-maker which provides liquidity in the market.
Let’s compare Kalshi’s current Super Bowl odds, with the prices converted into American moneyline odds, to sportsbooks.
As you can see, the implied odds on Kalshi for both teams are better than what you’ll find on a sportsbook like DraftKings. Now let’s put these prices into action. If you want to win $100 on the Chiefs, you would need to risk $130 on DraftKings but only $113 on Kalshi. Or, if you want to bet on the Eagles, a $100 bet on Kalshi would pay out $113 compared to $110 on DraftKings.
So even if you’re already in a sports betting state, you still are likely better off betting on the Super Bowl with Kalshi. Moreover, Kalshi provides much-needed competition in states like Florida where there’s a current sportsbook monopoly.
For millions of people, Kalshi is the first legal avenue to bet on sports. These states include:
• Alabama
• Alaska
• California
• Georgia
• Hawaii
• Texas
• Utah
• Idaho
• Minnesota
• Missouri
• Oklahoma
In states like New Jersey, Nevada, Pennsylvania, and a handful of others, you’ve got options.
Sportsbooks offer same game parlays and player props—but Kalshi’s lower fees, friendlier prices and trading flexibility appeal to strategic bettors who are looking for the best Super Bowl odds or for legal Super Bowl props not related to the game itself.
Then there are eight states that, before Kalshi’s entrance, only offered retail (brick-and-mortar) sportsbooks.
In other words, these states have traditional sportsbooks that you can use in person, but you can only bet online with a prediction market:
• Mississippi
• Montana
• Nebraska
• New Mexico
• North Dakota
• South Dakota
• Washington
• Wisconsin
1) Create an account: Click here
2) Deposit funds: Link a bank account or use crypto (if you deposit $100 or more, you will get a $20 bonus after your first trade).
3) Search for sports markets: Filter by sport, league, or event.
4) Buy/Sell contracts: Set your price or take the market rate for YES/NO contracts.
5) Manage your portfolio: Track gains, sell early, or double down.
Kalshi’s sports contracts are a game-changer, blending financial trading with the sweat of sports betting. While traditional sportsbooks offer some perks, prediction markets offer a legal, low-cost alternative for bettors nationwide alongside often odds and increased flexibility.
Get a $20 bonus when you sign up to bet on the Super Bowl with Kalshi here.
