Kalshi’s trading arm muddles ‘peer-to-peer’ claims

Saturday, September 13, 2025 10:48 AM
Image aggregated from Sportico.
  • Dan Bernstein and Eben Novy-Williams, Sportico

Several Kalshi users thought they were in luck Monday night when the prediction market accepted in-game wagers on whether Chicago Bears running back Roschon Johnson would score against the Minnesota Vikings. Johnson had been ruled inactive before kickoff, so it was impossible for him to find the end zone.

Yet many of the customers who bet “no” after Johnson was ruled out ultimately lost money. One X user shared screenshots of a betting slip with a $2,175 wager that ultimately paid out $1,975 rather than the $2,500 they expected based on the stated odds. This person lost $200, despite picking the right outcome.

For players who aren’t dressed for games, Kalshi employee Shannon Magiera later explained on social media, Kalshi’s prop markets retroactively settle at the odds from the moment the player was announced inactive.