Overview
- Kalshi launched outlet‑ and region‑specific “Trade $25, Get $25” referral codes such as MLIVE, PENNLIVE and OREGONLIVE1 that went live for Week 0 on Saturday, Aug. 29 and are available only in specified states.
- Polymarket is running a MLIVE promo that gives new users a $20 bonus after a $10 deposit, and that incentive has also increased trading volume on Week 0 markets.
- Bonus‑funded flows have produced visible price shifts on both platforms, with Kalshi markets pricing TCU at about 74% to beat North Carolina and USC around 98% to beat San Jose State.
- Key limits on those moves include identity verification rules, state exclusions, playthrough requirements and short bonus expirations that can prevent immediate withdrawal and may make the liquidity short‑lived.
- Kalshi operates as a CFTC‑regulated event‑contract exchange, traders can lose 100% of funds, and the next signposts to watch are whether bonus users convert to funded repeat traders and whether price gaps narrow as non‑bonus liquidity returns.