Kalshi vs. Polymarket: How to Trade March Madness Contracts in CA & TX

March Madness is always one of the most bet-on events in sports every year, but if you’re in California or Texas, you’re effectively shut out of the action through traditional sportsbooks. That hasn’t stopped people from finding alternatives though.

Prediction markets have quietly become a go-to workaround, letting users take positions on tournament outcomes in a way that feels similar to betting without actually using a sportsbook. And when it comes to March Madness, two names keep coming up: Kalshi and Polymarket.

Here’s how they compare and which one you can realistically use during this year’s tournament.

Why You Can’t Traditionally Bet March Madness in California or Texas

Traditional sports betting apps are not up and running in both California and Texas. In California, voters rejected recent sports betting initiatives, keeping online wagering off the table for the forseeable future. For Texas, there are no regulated sportsbooks (online or retail) currently operating either.

While your friends and family in places like Illinois, New Jersey, and Pennsylvania might be able to access the likes of DraftKings and FanDuel from a traditional sportsbook lens, you unfortunately won’t be able to in California or Texas.

The Role of Prediction Markets During March Madness

Prediction markets don’t fall under state gambling laws and regulations. Instead, they operate within financial regulatory frameworks, which opens the door for nationwide access.

That’s why platforms like Kalshi can legally offer contracts tied to March Madness outcomes — including tournament winners, team advancement, and more — even in states without legalized sports betting.

Translation: you’re free to use prediction market operators like Kalshi in Calfornia and Texas.

Kalshi vs. Polymarket: What Actually Matters for March Madness

So we know Kalshi and Polymarket are two of the biggest names when it comes to prediction markets in the US, but which one can you actually use for this year’s March Madness tournament?

Here’s a quick breakdown of both to get an idea of what you’re dealing with as a prospective bettor in California or Texas:

Kalshi

• Open to users in California and Texas
• Requires full identity verification
• Deposits and withdrawals in USD

Polymarket

• Currently restricted for most US users
• US return has been discussed but not finalized
• Primarily crypto-based with offshore roots

If you want to get involved in March Madness markets today, Kalshi is the only viable option for US-based users in restricted states.

March Madness Market Depth

Unfortunately, as mentioned above, Polymarket won’t be involved in this year’s NCAA college basketball tournament. With that in mind, it’ll be on Kalshi to give users what they’re looking for.

Kalshi Tournament Markets

• National champion
• Final Four appearances
• Region winners
• Game-by-game outcomes
• Upset-style and seed-based props

How Trading March Madness Contracts Works on Kalshi

Getting started is straightforward:

1. Sign up and verify your identity using Kalshi promo code DIME
2. Deposit funds in USD
3. Browse available March Madness markets
4. Buy “Yes” or “No” contracts based on your prediction
5. Hold through settlement or sell early to manage risk

One major edge: you’re not locked in. You can exit positions before games finish, which is something traditional sportsbooks don’t allow.

Quick Comparison: Kalshi vs. Polymarket

Final Take: Kalshi is the Best Way to Engage March Madness in CA & TX

If you’re in California or Texas and want real-money exposure to March Madness right now, Kalshi is the clear front-runner.

It delivers:

• Legal access in restricted states
• A wide menu of tournament-based markets
• Strong liquidity during peak events
• Flexibility to trade in and out of positions

Polymarket is still worth keeping an eye on, especially if it re-enters the US market — but for this year’s tournament, it remains more of a “watchlist” platform than a usable option.