Kalshi has introduced a March Madness-style promotion offering a $1 billion prize for anyone who submits a perfect NCAA Tournament bracket, reviving a concept popularized by Warren Buffett more than a decade ago.
The Kalshi $1 Billion Perfect Bracket Challenge is free to enter and available to eligible US residents who pass identity verification and submit a completed bracket through the platform. With 63 games and roughly 9.2 quintillion possible outcomes, selecting a perfect bracket remains one of the most difficult predictions in sports.
Kalshi is one of the top prediction market apps in the United States, and you can sign up to enter the contest with our links below.
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Prize structure and entry details
While the headline prize is $1 billion for a perfect bracket, Kalshi is also guaranteeing $1 million to the top-scoring entry if no perfect bracket is submitted. That prize would be split in the event of a tie. The company is also committing $1 million to charity and scholarships.
The contest is free to enter, with no purchase or deposit required, and participants are limited to one entry per person. Users can create and submit brackets through Kalshi’s website or app without engaging in any trading activity.
Eligibility and restrictions
The promotion is open to US residents aged 18 or older who complete identity verification. However, residents of New York and Florida are not eligible, and entries from those states will be disqualified. The contest is also unavailable outside the US and to individuals involved in the 2026 NCAA Men’s Basketball Tournament, including players, coaches, and officials.
Kalshi is capping the contest at 10 million entries, meaning participation is not guaranteed for all users.
The promotion is backed by SIG Parametrics, LLC, part of Susquehanna International Group, adding financial credibility to the offering. As with similar contests, the long odds of achieving a perfect bracket underscore its promotional nature.
Full terms and conditions apply. Participants must meet all eligibility requirements, and winners are subject to verification and responsible for applicable taxes. The contest is not endorsed by or associated with the NCAA, and no purchase is necessary to enter or win.
