A prop firm for Kalshi
prediction markets.
If you are searching for a Kalshi prop firm, this is how Refract Funding works: prove your edge on live Kalshi and Polymarket order books, get a funded simulated account, and earn real USDC payouts.
What Refract Funding is
Refract Funding is a proprietary-trading challenge for prediction markets: traders prove their edge on simulated Kalshi and Polymarket accounts, and funded traders can earn USDC payouts under the published program rules.
Every account trades simulated capital against the real, live order books that Kalshi and Polymarket publish, with venue-modeled fees and depth-aware fills. You bring the edge; the firm brings the buying power.
How the funded program works
1. Trade free. The simulator and the competition cost nothing, run on the same live data, and never expire.
2. Pass the Evaluation. A one-time entry fee buys one attempt with a published profit target, trailing drawdown, and consistency rules. Fail and you lose only the fee; there is no debt.
3. Trade funded. Approved traders receive a funded simulated account. Eligible simulated profits can qualify for real USDC payouts under the program rules.
Passing an Evaluation does not guarantee a funded account or payout; funded access and payouts depend on the program rules, eligibility, identity and fair-play review, regional availability, and approval.
Account sizes and pricing
| Account | Entry fee | Profit target | Trailing drawdown |
|---|---|---|---|
| $15,000 | $127 one-time | $1,500 | $700 |
| $30,000 | $199 one-time | $3,000 | $1,400 |
| $60,000 | $356 one-time | $6,000 | $2,800 |
| $120,000 | $613 one-time | $12,000 | $5,600 |
Full rules, worked examples, and payout mechanics live in the rulebook. Curious what a funded account itself looks like? See Kalshi funded accounts.
Why live order books matter
Most practice tools fill you at a mid price that no real trader gets. Refract Funding fills simulated orders against the displayed Kalshi and Polymarket depth, so slippage, spread, and fees behave the way they will when you trade real size anywhere. That is the point of the evaluation: performance that survives a real book.
Build that process before paying for an attempt with the Kalshi paper-trading guide and the Kalshi trading-strategy framework.
Kalshi prop firm FAQ
Is there a prop firm for Kalshi?
Yes. Refract Funding runs a funded-trader program for prediction markets: you trade a simulated account against live Kalshi and Polymarket order books, and funded traders can earn real USDC payouts under the published program rules. Refract Funding is independent of Kalshi.
Does Refract Funding place real trades on Kalshi?
No. Every fill is simulated against the displayed reference book. Refract Funding does not send orders to Kalshi or Polymarket and does not custody user trading capital.
How do I get funded to trade Kalshi markets?
Pass an Evaluation: a paid, simulated challenge with a profit target, a trailing drawdown, and consistency rules, then complete review. Passing an Evaluation does not guarantee a funded account or payout; funded access and payouts depend on the program rules, eligibility, identity and fair-play review, regional availability, and approval.
How much does the evaluation cost?
One-time Evaluation entry fees start at $127 for $15,000 of simulated buying power; every tier's fee is published before you pay. If you never buy an Evaluation, the simulator and the competition stay free.
What is the profit split on a funded account?
Under the current funded rules your share is calculated as 90% of eligible simulated profit, subject to the payout rules and review, and paid in USDC.
Refract Funding is independent of Kalshi and Polymarket. We display their live market data as a simulation reference; we do not send orders to either venue, and references to their names or marks do not imply endorsement.
Important: All trading, balances, positions, and fills on Refract Funding—including in the simulator, Evaluations, and funded accounts—are simulated. No real money is placed at risk in a simulated trade, although Evaluation fees are real payments. An Evaluation fee buys access to a skill challenge; it is not a deposit, investment, market stake, or trading capital. Refract Funding is independent of Kalshi and Polymarket; references to those venues do not imply endorsement.
Passing an Evaluation does not guarantee a funded account or payout. Funded access and payouts, where offered, depend on the program rules, eligibility, identity and fair-play review, regional availability, and approval. Market data and simulated results may be delayed, incomplete, or inaccurate. Refract Funding is not a broker, exchange, or investment adviser, and nothing on the service is investment advice. Adults 18+ only; additional age or location restrictions may apply.