How to Allow Kalshi in Bank of America: Fix Deposit Issues

One of the most common issues new Kalshi users face is having their deposit blocked by Bank of America. If your BofA debit card or bank transfer to Kalshi has been declined, you are not alone. Many banks flag prediction market deposits as potentially restricted transactions. This guide explains why it happens and exactly how to fix it.

Why Bank of America blocks Kalshi deposits

Bank of America's fraud detection systems sometimes flag deposits to Kalshi for several reasons:

• Merchant category codes: Kalshi may be categorized under financial trading or gambling-adjacent merchant codes, which trigger automated blocks at some banks.
• New payee detection: First-time transfers to any new recipient can be flagged for review, especially for larger amounts.
• Risk scoring: Bank of America's internal risk models may assign higher risk scores to fintech and prediction market platforms.
• State-level restrictions: In some states, banks may apply additional scrutiny to transfers to prediction market platforms.

Importantly, Kalshi is a CFTC-regulated exchange, and depositing funds into it is legal in all states where Kalshi operates. The bank block is a fraud prevention measure, not a legal restriction. For more on Kalshi's legal status, see our guide on is Kalshi legal.

How to fix debit card blocks

If your Bank of America debit card was declined when trying to deposit to Kalshi, follow these steps:

1. Check your notification: Bank of America may have sent you a text message or app notification asking you to confirm the transaction. Reply "Yes" or confirm through the BofA app to approve it.
2. Call Bank of America: Call the number on the back of your debit card (or 1-800-432-1000). Tell the representative that you are trying to make a legitimate purchase to Kalshi, a CFTC-regulated financial exchange, and ask them to approve the transaction.
3. Request a temporary hold lift: Ask the representative to temporarily lift any blocks on your card for the next 30 minutes so you can retry the deposit.
4. Set a travel/purchase alert: In the BofA mobile app, you can sometimes set alerts or notifications that help prevent future blocks on legitimate transactions.
5. Retry the deposit: After speaking with the bank, go back to Kalshi and attempt the deposit again. Most users find that the second attempt succeeds.

How to fix ACH transfer blocks

If a bank transfer (ACH) from Bank of America to Kalshi has been rejected or is pending for an unusually long time:

1. Verify account linking: Make sure your Bank of America account is properly linked to your Kalshi account. Kalshi uses Plaid for bank connections, and sometimes the initial link needs to be re-established.
2. Check for holds: Log into your BofA account and check for any pending transactions or holds related to the Kalshi transfer.
3. Contact BofA support: Call and ask specifically about ACH transfers to Kalshi or its payment processor. Ask them to whitelist the ACH originator.
4. Try a smaller amount: If a large transfer is being blocked, try a smaller amount first (e.g., $25) to establish the relationship. Once a successful transfer goes through, larger amounts are less likely to be flagged.

Alternative funding methods

If you cannot resolve the Bank of America issue, several alternative deposit methods are available on Kalshi. For a complete overview, see our Kalshi deposit methods guide.

• Wire transfer: Bank wire transfers are less commonly blocked than ACH or debit card transactions. BofA wire transfers to Kalshi typically go through without issues, though wire fees apply.
• Different bank account: If you have accounts at other banks (Chase, Wells Fargo, etc.), try linking one of those instead. Some banks are more lenient with prediction market deposits.
• Online banks: Digital banks and neobanks (e.g., Chime, SoFi, Cash App) tend to have fewer restrictions on transfers to fintech platforms.
• Prepaid debit cards: Some prepaid debit cards can be used to fund Kalshi accounts, though not all are accepted.

Preventing future deposit issues

Once you successfully fund your Kalshi account, take these steps to prevent future issues:

• Keep the connection active: Make periodic deposits (even small ones) to maintain an active relationship between your bank account and Kalshi. Dormant connections are more likely to be flagged.
• Use consistent amounts: Sudden large deposits after a period of small ones can trigger fraud alerts. If you plan to increase your deposit size, do so gradually.
• Enable notifications: Turn on transaction notifications in both the BofA app and Kalshi so you can quickly identify and respond to any blocks.
• Save reference numbers: Keep records of previous successful transactions. If a future deposit is blocked, having a history of approved transactions helps when speaking with bank representatives.

When to contact Kalshi support

If the issue is on Kalshi's side rather than Bank of America's, contact Kalshi's support team:

• Stuck deposits: If BofA shows the transfer as completed but funds have not appeared in your Kalshi account after 3 to 5 business days, contact Kalshi support.
• Account linking errors: If you receive errors when trying to link your BofA account through Plaid, Kalshi support can provide alternative linking methods.
• Verification issues: Sometimes deposit issues are related to incomplete identity verification rather than bank blocks. Ensure your Kalshi account is fully verified.

For more information on contacting Kalshi's team, see our Kalshi support guide. Most deposit issues are resolved within one or two interactions with either Bank of America or Kalshi support.