Our regulatory position

Why we wrote this page

It's easy for a young platform to imply more legitimacy than it has. Logos, jargon, and references to oversight bodies can give the impression that someone is watching the store when in reality nobody outside the company is. We'd rather over-disclose than give you a false sense of comfort.

During this preview phase Qalshi runs as an entertainment-first prediction platform. Accounts start with a complimentary internal balance used purely for placing trades on the platform's markets. The balance is not redeemable for cash and is not held by any bank or clearing house on your behalf.

Things this page rules out

• We're not a licensed exchange or clearing organisation in any jurisdiction — not in the EU, the UK, the US, or anywhere else.
• We're not a chartered bank, broker, or money-services business. No consumer-protection scheme insures balances on Qalshi.
• There is no external escalation path for trade or resolution disputes. Disputes go through our own moderation team and are decided by us.
• Resolution of every market is at our discretion. We follow the source rules each market publishes, but the final call sits with the platform.

What this isn't

Nothing about the preview phase prevents you from learning the mechanics of a prediction market, building a feel for sizing positions, or competing on the leaderboard. The trade engine, payout maths, and historical results are all genuine — there is just no real money flowing through them yet.

If that changes

If we ever move toward real-money trading, we'll obtain the relevant authorisations in the jurisdictions we serve and announce the change in writing at least 30 days in advance. Current status, with timestamps, lives on the regulatory status page.