Real-world betting site Kalshi today announced that it will allow users to deposit money into their accounts with a debit card or through Apple Pay.
Kalshi, which offers presidential election betting, wants to get more users signed up for the platform in advance of the election on Tuesday, when bet volume is expected to spike exponentially.
[Sign up for Kalshi here and get $20 free when you deposit $100 or more.]
Previously, users' deposit options were limited to online banking via ACH transfer (securely through Plaid), wire transfer, or a crypto deposit with USDC.
ACH and wire transfers can take anywhere from 24 to 48 hours, or more, to hit a user's account.
This meant new users signing up over the weekend prior to Election Day may not see money in their accounts in time to bet.
Users who deposit crypto can receive funds instantly, but the vast majority of people are not familiar with how to transact with USDC.
So Kalshi has added options for debit card and Apple Pay deposits. This will allow users who sign up for the platform over the weekend and through Election Day to immediately fund their accounts and place their bets, in most cases.
Kalshi CEO Tarek Mansour took Twitter and posted the following meme poking fun at Polymarket, which is technically illegal in the US and has a complex deposit process with crypto:
As of last night, you can trade on Kalshi with debit cards and Apple Pay.
Easy. Instant. One-click. Easy. https://t.co/qMXMr2NL4u
[Read: Kalshi vs. Polymarket]
Kalshi has stood out in recent weeks as the easiest way to bet on the election and other real-world events
You can read our full Kalshi review.
[Sign up for Kalshi here and get $20 free when you deposit $100 or more.]
