Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:02/04/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Transaction date November 3, 2024. $1,000 in dispute. Kalshi Securities/Brokers/Dealers. My attempt to to make a betting transaction could not be completed. My attempts were riffed by repeated attempts to reset my password, which I attempted 4 times to no avail. When I requested phone support, the response was "no agents available at this time. The transaction was never completed. I filed 2 disputes with ********** related to this issue. January 3, 2025 ******* claims department stated " Kalshi would like to settle the dispute with me directly. My attempts to contact Kalshi by their listing revealed a non working number.

  Business Response

  Date: 02/04/2025

  To Whom It May Concern:
  
  This user created an account with ********************** on 11/3/24 and funded her account with a $1000.00 debit deposit on that same day. That user then did not make any trades with the funds and actually accrued interest on her account (photo 1). On 11/3/24, the user stated she wanted to talk to an agent, and Kalshi support informed her approximately 3 hours later that they have no phone support agents at this time but we are happy to help you over the chat/email feature right here. On 11/4/24, the user contacted support requesting to cancel her deposit because she could not access her account, to which the ********************** team responded 3 hours later via email (photo 2) noting the deposit could no longer be canceled due to the funds already being sent from her bank but that she could withdraw the funds from your account 7 days after they arrive at the same account you withdrew from or 90 days after they arrive at a separate account from the one you deposited from. This follow-up was not responded to by the user.
  
  Then on 11/20/24, after no previous contact from the user since 11/4/24, ********************** received a dispute from the cardholders bank stating she never received the products they were charged for, meanwhile, the customers funds were still in her account (photo 1). Due to this dispute, Kalshis compliance team placed a temporary hold on the customers account while the dispute was in progress. This dispute was finalized today, 2/4/25, in Kalshis favor by the users bank (photo 3). After the dispute was finalized, Kalshi removed the withdrawal restrictions on the customers account to allow her to withdraw her original deposit and the accrued interest in the amount of $1,009.42. The customer has not withdrawn the funds as of 10:20 pm EST on 2/4/25.

• Initial Complaint

  Date:01/29/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am writing to report concerning practices regarding fee disclosures by Kalshi. I believe these practices violate securities regulations regarding fair disclosure and consumer protection.Specific Violations:1. The company recently increased their account funding fees without any prior notice to existing customers 2. Their public website continues to display outdated fee information that understates the actual charges 3. The true fees are only revealed after a customer creates an account, which appears to be a deliberately misleading practice These practices appear to violate:SEC Rule 10b-10 regarding transaction fee disclosure FINRA Rule 2268 on customer notification requirements FINRA Rule 2010 requiring high standards of commercial honor Securities Exchange Act Section 15(b) fair dealing requirements Timeline of Events:1/26/2025: I opened my account with the previously advertised fee structure 1/26/2025: Verified the actual higher fees are only shown post-account creation 1/26/2025: I discovered the website still shows the old, lower fees publicly I have retained documentation including:Screenshots of the public website showing outdated fees Screenshots of the actual fees shown only after account creation I believe these practices constitute a pattern of misleading consumers and violate the core principle of transparent fee disclosure in securities regulation. I request that you investigate these practices and take appropriate enforcement action.

  Business Response

  Date: 02/14/2025

  The following data has been updated in our fee schedule published on our website as well as our application and website user interface. I am writing to clarify why the 2% charge applied to debit card transactions does not require a 30-day advance notice under standard fee disclosure regulations.

  Fees that necessitate advance disclosure, such as monthly maintenance fees, overdraft charges, or ATM withdrawal fees, are typically separate costs imposed by a financial institution on an account holder. These fees are deducted independently of specific transactions and directly affect the account balance.

  In contrast, the 2% charge in question is not a standalone fee but an adjustment to the cost of the transaction itself. It functions similarly to a credit card surcharge or a merchant-imposed price increase, which are incorporated into the total transaction amount rather than deducted separately. Because this charge is applied at the point of sale and does not constitute a separate bank-imposed fee, it does not fall under the requirements for 30-day advance notice of fee changes.

• Initial Complaint

  Date:01/20/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Kalshi removed funds from my account without my authorization

  Business Response

  Date: 01/20/2025

  Kalshi does not allow for any deposits that are unauthorized. Kalshi confirms authorization of all transactions with the bank before charging the applied card. In cases where fraudulent transaction occur, Kalshi cooperates with banks to aid in their process of recovering fraud victims funds. 

  Customer Answer

  Date: 01/25/2025

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  [Your Answer Here]

   

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  ***** *****
  
  
  
  
   
  

  Customer Answer

  Date: 01/29/2025

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  I have not yet received the money that was unauthorizedly taken from my account. I still cannot reach them by phone, and they do not respond to my emails.

  
  Sincerely,
  
  ***** *****
  
  
  
  
   
  

  Business Response

  Date: 02/08/2025

  As stated in the past reply, Kalshi confirms authorization of all transactions with the bank before charging the applied card. In cases where fraudulent transactions occur, Kalshi cooperates with banks to aid in their process of recovering fraud victims funds, but the process of recovering the funds is largely up to the bank after their authorization of the transaction. In addition, Kalshi is quick to offer help to users who have reported unauthorized debit card transactions when they reach out to support, but Kalshi has confirmed the support team has never received any communication from a user under the name of this complaint. If this user is still interested in contacting Kalshi, Kalshi would recommend reaching out to their support team at *********************************** as this is Kalshis customer service email.

• Initial Complaint

  Date:12/17/2024

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am unable to delete my account that was created on ************************** This is a known problem that the company has been having for any and all users on its platform. I request to have my account deleted immediately and for anyone else looking to no longer use the platform.

  Business Response

  Date: 12/27/2024

  The following account under the email ************************* has been deactivated and deleted from our email database. After we recognized a bug with deleting accounts on our front end, the back end team manually helped this user to delete their account on **********************.
  

  Customer Answer

  Date: 12/31/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  **** ******
  
  
  
   
  
  

• Initial Complaint

  Date:12/17/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  You could invest in who would be confirmed by the senate in January for *** commissioner . Two of the three options were already *** commissioners so it was misleading making you think that youre betting on who would be the chief. I reached out to them and they confirmed that it was for whoever became a commissioner and was confirmed by the senate next. So the two options that were impossible according to then to ever win. This is a scam and very shady. Then they added a fourth option suddenly which was ****. I saw multiple people had the same problem. It shows in places like the comment section of that market.

  Business Response

  Date: 12/27/2024

  Kalshi creates all of its contracts to fall within their rules and is fully regulated by the ****. In the specific case of this market, although very unlikely, the two options for the *** commissioners who were already commissioners could step down and be renominated. Kalshi ensures that all markets follow our rules which are outlined at this link: *****************************************************************************************. As you can see the title of this market (linked here: ******************************************************************************************) is for "Who will be confirmed as *** commissioner?" which does not mention becoming the chief.

• Initial Complaint

  Date:12/12/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I've sent money to Kalshi to be able to participate on their platform. The funds never made it to my account. Despite sending multiple emails, support tickets with them, there has been no meaningful correspondence of where my funds ended up. I've emailed the CEO, customer support, the founder with no correspondence.This is a scam site that takes your funds. Buyer beware.

  Business Response

  Date: 12/27/2024

  Hey there,

  We have reviewed the following user's account under this email address ********************* and there are no records of any deposits or attempts on Kalshi. We do see that they had attempted to send us a wire using a bank account that was not under their name (the bank account was under the name *****). As a result, this transfer directly violated our wire rules and resulting in our bank (SVB) reversing the wire back to the original bank account. 
  

• Initial Complaint

  Date:12/09/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Kalshi is is fraudulent organization it steals money from customers it doesnt allow to withdraw funds

  Business Response

  Date: 12/27/2024

  This user does not have any funds to withdraw. There was a deposit made via ACH on 11/09 for $100.00. This deposit was finalized and applied to the account on 11/15 (immediate funding was provided on 11/09). Between 11/09-11/13 the user placed 13 different trades which in total, after the different market's resolutions, brought the account balance down to $1.29. On 12/26, the $100.00 initial deposit was returned to the user's checking account.

  Customer Answer

  Date: 01/01/2025

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  [Your Answer Here]

  Not only ach made without my consent and trades were made without my consent and also they refused to give me stolen  funds back when I requested siting bogus government regulations excuse. I have to report fraud to my bank and changed bank accounts numbers because of it

  so many people worldwide reported that kalshi is fraudulent organization and it scam people out of the money it should be illegal.

   

   

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  ****** ****
  
  
  
  
   
  

  Business Response

  Date: 01/03/2025

  To Whom It May Concern:

  This user claimed to have had an unauthorized bank deposit into her Kalshi account for $100 finalized on 11/15/2024 that was later returned to her bank due to a fraud claim on 12/26/2024. The deposit was an authorized transaction through a third-party banking company. Kalshi immediately applies up to $250 of first deposits to a users account before the bank sends money to Kalshi as a courtesy on first deposits, so this user was instantly credited $100.

  Using the $100 deposit, the user authorized 13 separate transactions on election-categorized markets bringing her balance down to $1.29 on 11/13/2024. After the $100 was returned to her bank account, the user was left with a $-***** balance. The users account has since had multiple restrictions placed on it due to the fraud claim and negative account balance. A balance log is attached showing user's transcations.

  In addition, the users only communication with Kalshi prior to the fraud claim was one support ticket on 11/11/2024 asking, How can I withdraw fund from portfolio, showing the user was fully aware of an authorized deposit into her Kalshi account and the user was interested in bringing funds back to her bank. The user never asked ********************** to assist with any account unauthorized access claims or unauthorized deposit claims prior to the fraud case being presented.

  For this reason, Kalshi decided restricting the users account until the fraud claim was withdrawn or settled correctly was the only correct course of action.

  Customer Answer

  Date: 01/07/2025

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  [deposit was unauthorized . Kalshi   used third party like they said   I dont even know who and when I asked you return my funds they were siting government regulations .its illegal so many people already complain about illegal activities made by kalshi. government has to protect people from this fraud. My bank already issued permanent credit after completing its own  fraud investigation in my favor.

   

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  ****** ****