Promo code: DEFI | Offer: $10 bonus after $10 in trades | Deposit required: $1 minimum
The 2026 Final Four is here, and if you’ve been waiting for a reason to try Kalshi’s prediction markets, today’s TBS doubleheader is it. Two tight semifinal matchups — Illinois vs. UConn at 6:09 PM ET and Michigan vs. Arizona at 8:49 PM ET — are already drawing heavy contract volume heading into tip-off.
New users who sign up with Kalshi promo code DEFI can claim a $10 bonus after making $10 in cumulative trades. You don’t need to win. You don’t need to make a single $10 trade. Just reach $10 total across any markets on the platform and the bonus posts to your account.
The process takes about five minutes:
- Download the Kalshi app or visit kalshi.com
- Create an account and complete identity verification
- Enter promo code DEFI during registration
- Deposit at least $1
- Make $10 in cumulative trades across any markets
- Your $10 bonus posts automatically once the trading threshold is met
How Kalshi works
Kalshi is a federally regulated prediction exchange where you trade contracts on yes-or-no outcomes.
Say Illinois vs. UConn is sitting at 52¢ for an Illinois “Yes” contract heading into tip-off tonight. That price means the market collectively gives Illinois a 52% chance of winning. If you buy one contract at 52¢ and Illinois wins, it settles at $1.00 — a 48¢ profit. If UConn wins, it settles at $0 and you’re out the 52¢.
You can also sell before the game ends. If Illinois goes up by 10 at halftime and the contract jumps to 74¢, you can close the position and pocket the difference without waiting for the final buzzer.
Kalshi is available in 49 states, though the promo code is not available in Arizona, Illinois, Massachusetts, Maryland, Michigan, Montana, Nevada, New Jersey, or Ohio. The offer is open to new accounts only, you must be 18 or older to sign up, and you’ll want to register before tonight’s games tip off to make the most of it.
Today’s Final Four markets
Illinois and UConn open the day at 6:09 PM ET. The Illini have been one of the more consistent teams in the tournament, while UConn brings its usual March pedigree. Contract prices on Kalshi heading into tip-off reflect a relatively even split — no heavy favorite commanding the order book.
The late game features Michigan vs. Arizona at 8:49 PM ET, a matchup with enough stylistic contrast and odds uncertainty that the market hasn’t locked into a clear lean. Both games are available as winner contracts on Kalshi, and you can also trade on longer-term outcomes like who wins the national championship once the bracket narrows to two.
| Market option | Probability | Payout multiple | Trade volume |
|---|---|---|---|
| Illinois vs. UConn (Winner) | $3.4M+ | ||
| Illinois | 55% | 1.76x | |
| UConn | 46% | 2.09x | |
| Michigan vs. Arizona (Winner) | $2.3M+ | ||
| Michigan | 53% | 1.83x | |
| Arizona | 48% | 2.01x | |
| Men’s College Basketball Champion | $209.9M+ | ||
| Michigan | 35% | 2.73x | |
| Arizona | 34% | 2.81x | |
| Illinois | 18% | — | |
| Women’s Championship: South Carolina vs. UCLA | $5.7M+ | ||
| South Carolina | 60% | 1.62x | |
| UCLA | 40% | 2.40x |
Odds as of April 4, 2026. Source: DeFi Rate March Madness Tracker
- New users only
- Must be 18 or older
- Must use the Kalshi promo code DEFI to qualify
- Must be located in the US (some state restrictions apply for sports markets)
- Minimum $1 deposit required
- $10 in cumulative trades required to unlock the bonus
- Trades do not need to be winning trades to count toward the threshold
Event contract trading involves risk and may not be suitable for all users. Review Kalshi’s full terms at kalshi.com before depositing.
Cheryle Shepstone
Cheryle is Director of Content and Strategy at DeFi Rate. She oversees the prediction market research, platform reviews, and editorial methodology behind every guide—from primary source verification through final fact-check. Before DeFi Rate, she led content and growth strategy at Catena Media, where she helped shape content and revenue strategy for regulated and financial markets. She has 20 years of experience in research and marketing strategy
