Kalshi Unveils Player Prop, Pre-Made Parlay Contracts During NFL Opener

• Kalshi unveiled player prop and pre-made parlay event contracts during last night’s NFL home opener
• The company self-certified the pre-made parlay markets earlier this week
• Company may eventually allow users to make their own parlays

---

The NFL season debuted Thursday night with a wet and wild Philadelphia Eagles victory over the Dallas Cowboys. Along with the action on the field came action in the prediction market space, as Kalshi unveiled two new contracts for customers that pushed them more into sportsbook-type offerings.

The federally regulated prediction market unveiled player prop and pre-made parlay contracts for the NFL opener. Player prop contracts were fairly limited, allowing users to invest in mostly touchdown props, including those who would score the first, second, or third touchdown of the evening.

Additionally, Kalshi featured its first pre-made parlay contract, which featured several “legs” involving the game’s point total, outright winner, and a player touchdown prop.

Offerings Mirror Sportsbook Markets

Kalshi’s venture into the NFL space is becoming more and more sportsbook like. In August, the company submitted three product certifications to the Commodity Future’s Trading Commission (CFTC), specifically allowing for game spreads, player props, and game total contracts for users.

Earlier this week, Kalshi submitted a product certification to the CFTC that many believed would open the door for parlay-like contracts for customers.

The filing self-certified “Will <outcome> occur in <events>?” contracts, which will “pay out the product of the payouts for each <component>, as dictated by each corresponding <rule>, rounded down to the nearest cent.” The new contracts became certified after close-of-business on Wednesday, Sept. 3.

While the filing was not incredibly direct on what the contracts would look like, it became clear what Kalshi had in mind prior to last night’s kickoff. It did not allow users to construct their own parlays, but allowed them to purchase a pre-made parlay contract that featured three outcomes within the game.

The contract asked if users believed the Cowboys would win, if the game’s total would be over 47.5 points, and if Cowboys wide receiver CeeDee Lamb would score a touchdown. It featured a “yes” price of just $0.09 and none of the outcomes would hit during the night.

Kalshi is now officially sports event contracts on a single game with multiple outcomes.

The company registered for these offerings two days ago. Now offering parlays. pic.twitter.com/Xof8eUMi7l

— RLinnehanSR (@RLinnehanSR) September 4, 2025

CFTC Shows No Proclivity to Deny New Offerings

The player prop and pre-made parlay contracts will likely be expanded more by Kalshi as they move deeper into the season. The prop contracts were fairly limited for the season opener and only one pre-made parlay contract was available.

Kalshi will continue to offer the contracts and may self-certify for new sports prediction markets. The CFTC has yet to show any proclivity to deny new market offerings from the company, taking no action against any of the filings yet.

The CFTC has three options when Kalshi, or any prediction market company, files a self-certification for a new contract. The CFTC can simply take no action against the filing, which will result in them being certified.

The CFTC can also outright reject the contracts and deny their legality after submission. Finally, the CFTC can initiate a 90-day public review of the markets to determine if they are legal or not.

The CFTC has taken no action against Kalshi’s last four self-certifying submissions for football markets.

Kalshi and state regulators have been vying in court for control over who actually regulates sports event contracts. Kalshi believes that state regulatory bodies do not have the right to intrude on the government’s “exclusive” authority to regulate prediction market, filing lawsuits in New Jersey, Nevada, and Maryland to defend its practices.

State regulators equate sports event contracts as sports betting and believe they should have a say in how they’re regulated, taxed, and licensed.

Kalshi believes its offerings are not required to comply with state laws, as they have been preempted by the CEA.