For those that don't know, Kalshi is a new betting platform that is federally regulated and approved for operation in all 50 states. The underlying instruments are structured as financial products similar to options contracts instead of traditional bets which is what differentiates Kalshi from FanDuel/Draftkings.

They recently introduced sports and are taking Yes/No future bets on March Madness. https://kalshi.com/markets/kxmarmad/march-madness

Ags are currently trading at 2% which I think could increase to at least 6% if they make it through the opening weekend and could easily be sold back to the market for 3x returns.

Hmm interesting… so you can sell at anytime?

Hadn't heard of this, but definitely looks like an interesting option for those of us in locations where standard betting is not legal. Nice to know there is a totally legit option out there beyond daily fantasy sites that you can use to increase the intrigue of March Madness

To be clear, it isn't a betting platform but a market that offers event contracts between two parties with the winner receiving $1.

"As a trading exchange, Kalshi allows both retail and institutional traders to place trades on various future events, spanning topics like weather and climate change,[8][10] the Oscars,[11] tax changes,[12] inflation,[13] music festival cancellations,[14] album sales and digital streaming milestones,[15] Covid vaccine uptake,[1] recession likelihood,[16] and the potential for the United States to default on its debt by the year's end.[17] The platform also covers markets related to presidential approval rating, significant legislation passing Congress, and U.S. Supreme Court cases.[8]
Trading is based on opinions about specific yes-or-no questions. Users pick a side and price (1 cent to 99 cents), and when the opposing yes and no sides total $1 per contract, a trade occurs. Whichever side turns out to be correct keeps the full $1. The contract price reflects the market's estimated probability of an event happening. The exchange provides contracts that pay out $1 for correct selections.[7] Traders are not allowed to use margin to take positions on the platform.[18] As of April 2023, the bet limit allowed on the platform is $25,000,[19] although certain contracts allow a maximum wager of $7 million. Users are prohibited from wagering more than the amount they have deposited.[4] Kalshi charges transaction fees per trade but does not rely on traders' losses for its revenue.[11]"

https://en.m.wikipedia.org/wiki/Kalshi