Where Qalshi stands today

No real money moves through the platform right now

Qalshi is a preview product. Every account opens with an internal balance and that balance is the only thing trading on the platform. Deposits and withdrawals of real cash or crypto are not enabled. Internal balances cannot be converted to cash, transferred between users, or redeemed against anything off-platform.

Because no real money is flowing, Qalshi does not hold and is not seeking — at this stage — the licences that real-money exchanges, brokers, gambling operators, or banks must hold in the countries we operate from. No external scheme insures the balance shown on your dashboard.

If real-money trading is turned on

Switching real money on is a one-way door. Before we walk through it we plan to:

• Apply for the licence(s) that apply in the markets we serve.
• Engage a banking or payment partner with a clear settlement workflow.
• Stand up the KYC, AML, and tax-reporting plumbing that goes with it.
• Announce the switch publicly, with at least 30 days' notice and updated terms.

We won't flip the flag silently. If you don't see an announcement, real money is still off.

Commitments that don't depend on money

• Markets resolve by the published source — see market integrity.
• Manipulation tooling runs whether stakes are virtual or not.
• Disputes go to a human queue and we publish the outcome to the parties involved.
• This page is dated and kept up to date; you'll always know our current status.

Contact

Press, compliance, or due-diligence requests: hello@qalshi.de. Everything else goes through the in-app support flow.