Kalshi Denies Full Outage After Saturday Glitches Impact Nearly Half of Users
The prediction market platform Kalshi experienced severe technical malfunctions and delays on a recent Saturday, coinciding with peak trading activity during college football games. While the company acknowledged “minor glitches,” it denied a full system outage, even as users reported frozen orders, vanishing account balances, and an inability to access positions. CNBC reported the incident.
Account Malfunctions During Peak Trading
The problems impacted nearly half of Kalshi’s user base during a critical trading period. Users attempting to execute trades found their orders stuck in processing.
Frustrated traders also reported that account balances were not accurately reflected or had disappeared from view entirely, leaving them unable to see their open bets or capital.
For a period estimated at around 20 minutes, the website displayed only a spinning green “K,” creating uncertainty for users. On social media, many users referred to the incident as “the longest twenty minutes in Kalshi’s history.”
During the disruption, the platform sent a direct message to users: “The Exchange is experiencing temporary delays. Balances and positions may not be accurately reflected at this time.”
Company Minimizes Scale of Disruption
After resolving the issues, Kalshi issued a statement minimizing the scale of the event. The company denied a complete failure, stating, “No exchange outage occurred, no funds were affected, and the issues are now resolved.”
A Kalshi spokesperson insisted that the exchange “never stopped functioning properly.” The spokesperson clarified that the problems were limited to “glitches and delays on our web and app product,” affecting less than half of the overall user base. The company emphasized that its clearing operations and institutional trading were not disturbed during the event.
The technical crisis occurred just one week after Kalshi announced a $300 million Series D funding round, which valued the company at $5 billion. The immediate technical issues following the massive capital raise have led to questions regarding the platform’s ability to scale its infrastructure to match its growing user base and valuation.
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