Kalshi is having a rough Super Bowl Sunday.
The exchange has been suffering from deposit issues as trading volume skyrocketed for the Big Game.
“Some deposits are delayed because of the amount of traffic and deposits we’re getting,” Kalshi co-founder Luana Lopes Lara wrote on Twitter/X. “Your money is safe and on the way, it will just take longer to land.”
A number of users on social media have reported issues with the platform.
“Kalshi did all that Ad investment for the Super Bowl just for the app to completely shutdown the day of the Super Bowl lmao,” Twitter/X user Jakob Berger wrote. Another user reported that the platform said his deposit failed, but the money had been withdrawn from his bank account. Another tweeted, “fix your app bro.”
Since making its foray into sports trading with Super Bowl lines last year, Kalshi has become a major platform and threatened to disrupt the sports betting industry. The CFTC has signaled that prediction markets like Kalshi and Polymarket are permitted under federal regulation. A number of states have disagreed and have sued Kalshi (Nevada, one of a number of states going after Kalshi, has also sued Polymarket).
