Ahead of March Madness, Kalshi has introduced a free-to-enter $1 billion bracket competition aimed at all verified members. The challenge is backed by SIG Parametrics LLC, and they have confirmed that $1 million will be donated to charity. We’ve been busy getting to grips with the ins and outs of this one.
Away from Kalshi’s prediction markets, you’ll find a free-to-play $1 Billion challenge that is aimed at all verified members who follow the NCAA basketball season.
The idea is that you will predict the outright winner of March Madness by filling in your own bracket. You will need to predict the winner of each game all the way through the campaign and submit your entries before March 19th. Once entered, your picks will be locked in, and up to $1,000,000,000 can be won by an entrant who manages to predict every fixture correctly.
Kalshi’s $1 Billion Perfect Bracket Challenge started on March 16th, and is open to the first 10,000,000 members who opt in and submit their entries. The March Madness schedule is then split over the following dates, and the winner of the competition will be announced shortly after April 6th.
As you can see, this one is fairly straightforward. Provided you are a verified member of Kalshi, you can predict, submit, and wait for the action to unfold before finding out whether (up to) $1 billion will be coming your way. Of course, there are a few additional terms to consider before getting started.
Firstly, it is worth noting that the grand prize is $1 billion; however, this requires you to have predicted every outcome of March Madness. We also feel it is worth noting that the sponsor can elect to release the $1 billion over a ten-year period.
If there is no entrant who manages this feat, then a smaller grand prize of $1,000,000 will be awarded to the entrant who manages to have the highest scoring total. As per Kalshi’s terms, you’ll find the winner will be established based on the following scoring system:
| Round | Points Per Correct Pick |
|---|---|
| Round of 64 | 10 points |
| Round of 32 | 20 points |
| Round of 16 | 40 points |
| Round of 8 | 80 points |
| Round of 4 | 160 points |
| Championship Game | 320 points |
Should more than one entrant end up with the same amount of points, the $1,000,000 prize pot will be shared.
It is also worth reiterating that the $1,000,000 bracket challenge is only available to the first 10,000,000 members that opt in and submit their entries. Having a Kalshi account isn’t enough to secure your place; you’ll physically need to submit your completed bracket. Of course, your Kalshi account must also be verified and any winning accounts will be fully reviewed before prizes are released. Please note that those in Florida and New York will be unable to participate.
Although not strictly something you’ll need to consider prior to getting started, the charitable element of this $1 billion March Madness challenge is well worth discussing. Alongside the potential for up to $1,000,000,000 to be won by one or shared between several successful entrants, $1,000,000 will be donated to charity.
A partnership with iMentor sees $500,000 go towards building relationships that help first-generation students with financial literacy, and a further $500,000 is being presented to Starting Five – Devin Booker’s charity, which supports families and youths in the local Arizona area.
The $1 billion Kalshi Perfect Bracket Challenge started on March 16th and entries will be blocked ahead of the first fixture on March 19th, provided Kalshi doesn’t hit the 10,000,000 entry cap beforehand.
As evidenced, $1,000,000 will be split between iMentor and Starting Five, and up to $1,000,000,000 could be won by an entrant. For the grand prize of $1 billion to be won, all March Madness games must be predicted correctly. Failing that, $1 million can be won by those who end up with the highest points, based on correct picks. Just bear in mind this is unavailable to those in New York and Florida.
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