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Kalshi offers combos: custom combinations of event positions with their own quote and settlement rules. Start with the eligible-event builder and the full contract terms. A familiar parlay-style display does not establish a guaranteed fill, a cash-out price or an all-or-nothing payout in every scenario.
This guide was checked October 6, 2026. For a settlement scenario, use the combo payout calculator. It calculates from values you supply; it does not fetch quotes or execute orders.
How to combo on Kalshi
The official combo guide describes a builder accessible from eligible-event pages or the live sports area. Available events change, so inspect the current builder rather than assuming every listed market can be combined.
- Identify the eligible events and selected positions.
- Read each component's outcome definition, resolution source and cutoff.
- Inspect the actual quote, requested quantity and charges.
- Check payout conditions, including nonbinary settlement provisions.
- Preserve the order and fill records if you proceed on the venue.
A screenshot of a combination is not enough to reconstruct it later. Record the exact market identifiers and selected outcomes. For example, selecting No on an event requires tracking the value of the selected No position, not casually substituting the Yes probability.
RFQ quotes are not an automatic fill
Kalshi's market FAQs describe a request-for-quote process where participants may offer prices. A request is not a completed trade. The combo guide adds that quotes can change and a filled combo cannot be canceled or reversed by the user.
Compare the requested quantity with the actual fill. If no fill exists, there is no executed position to reconcile. If a quote changes between viewing and execution, use the fill record when calculating cost. A price seen earlier is a reference point, not proof of the price received.
What “payout unavailable” means
The official guide explains that a payout display requires a live quote for that combination. Missing quotes, closed component markets or connection issues can prevent the display. Refresh and check current market availability; a calculator cannot supply the absent venue quote.
Keep a theoretical payout separate from a purchase offer. Knowing a contract's maximum payout does not tell you its current entry price, available quantity or whether someone will quote it.
Multiply component settlement values
The governing combo rule uses the product of the component values, with a maximum of $1 per contract. A zero component makes the product zero. Components can resolve to values between 0 and 1 under their individual rules, so a non-participating player does not automatically refund or cancel the combo.
| Invented values for selected positions | Payout per contract | 100-contract gross payout |
|---|---|---|
| 1 × 1 × 1 | $1.00 | $100 |
| 1 × 0 × 1 | $0.00 | $0 |
| 1 × 0.6 × 1 | $0.60 | $60 |
| 0.5 × 0.6 × 1 | $0.30 | $30 |
These are independent arithmetic examples, not observed trades or predictions about how a particular contract will settle. Apply the venue's actual component values and rounding rules when reconciling a real payout.
Gross payout is different from net profit
Suppose an invented 100-contract position costs 25¢ per contract plus $2 of total entry fees. Entry cost is $27. If component values yield a $60 gross payout, scenario net is $33. If any component settles at zero, gross payout is zero and scenario net is −$27.
The payout calculator lets you change each input. It does not determine the entry fee, supply a live quote or model later exit trades.
Do not treat marginal probabilities as settled payouts
A displayed 60% chance describes uncertainty before resolution. A $0.60 scalar settlement is an outcome value under a rule. Those numbers can look alike but represent different things.
For two binary events, multiplying probabilities assumes independence. If each has a 50% chance, an independence model gives a 25% chance that both occur. If the events are identical, their joint chance is 50%; if they are mutually exclusive, it is zero. The same marginal probabilities therefore do not determine one joint probability.
Likewise, a candidate winning a primary and winning a later election share structure. A team outcome and a player statistic can share game conditions. State the dependency model before interpreting a product of forecasts as a price estimate.
Keep a useful record of the position
- Exact component identifiers, selected sides and rules.
- Quote time, requested size and final fill price.
- Total charges and any later transactions.
- Final component values and settlement records.
Read the fee guide alongside the venue's current quote and the settlement guide for the distinction between an event result and funds availability. Alphascope supports research; the exchange's records and contract rules govern the actual position.