Kalshi down for some users during college football games
Kalshi logo edited on a laptop on Monday, February 10, 2025 in New York, USA.
Gabby Jones | Bloomberg | Getty Images
Close to half of Kalshi’s user base experienced disruptions and delays during college football games on Saturday, a major source of trade-offs, and some said they were temporarily unable to process orders.
In a message sent to a user obtained by CNBC, the website apologized for the inconvenience and said it was “looking into” the issues investors were experiencing.
“There are temporary delays in the stock market,” the message read. “Balances and positions may not be accurately reflected at this time.”
One user shared a screen recording and screenshots with CNBC showing that they were unable to see their balance or bets while the issues persisted.
In a statement to CNBC, Kalshi’s spokesperson denied there was an outage and said the exchange “never ceased its proper functioning.” It added that there is no impact on clearing, advanced trading or institutional trading.
“There were some glitches and delays in our web and app product that affected less than half of our user base,” the spokesperson said. “The engineering team is fixing these as we speak and the platform will be back to normal very soon.”
Some users on X reported that the website was down when trying to place bets on college football games, while others said they had open orders that would not be processed. When CNBC visited the website, it did not load and for more than 20 minutes only a green letter K with a circle spinning around it appeared. The platform was then loaded.
A little over a week ago, Kalshi announced a $300 million Series D financing round valuing the company at $5 billion; That was more than double its $2 billion valuation in June after the Series C round.
The round was co-led by Andreessen Horowitz (a16z) and Sequoia Capital, with participation from Paradigm. Additional backers included Coinbase Ventures, General Catalyst, Spark Capital and CapitalG.
Founded in 2018, the company rose to prominence by offering bettors the ability to trade on a wide range of real-world events, from football matches to who President Donald Trump might pardon this year.
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