Types of perps offers
Kalshi runs several kinds of perps promotions, and each has its own terms, eligibility window, and end date:
New-user trading promos — for example, "Trade $50 in perps, get $25." These require a qualifying amount of perps trading within the promo period.
Referral bonuses — earned when a friend you referred enables perps and completes the qualifying activity.
Survey and feedback credits — offered by email for completing a survey or interview, credited within the stated timeframe in that email.
Offers are not always available to every user, and amounts differ between campaigns — always check the terms shown in the app or email for the offer that applies to you.
Who is eligible?
Perps promotions are only available to users who are eligible to trade perpetual futures, and individual offers may have additional requirements — such as being a new perps user, being located in an eligible region, or receiving an offer by email. If you can see an offer banner but can't complete the requirement, region or account eligibility is the most common reason.
My promo tracker isn't updating
Qualifying trades can take some time to register on your promo progress tracker. If you've completed trades and your tracker still shows no progress after 24 hours:
Double-check the trades were in a qualifying market and placed after the offer started.
Confirm the offer is still active — the requirement must be completed before the offer's end date.
If both check out, contact support with a screenshot of your tracker and a screenshot of your perps trade activity — this is exactly what the team needs to investigate.
Where credits land, and their limits
Perps promo credits are added to your perps account — they will not appear in your predictions balance.
Credits are non-transferable between your predictions and perps balances, in either direction.
Credits themselves cannot be withdrawn — winnings from trading with them can be.
Credits may expire if unused within 7 days.
Referral bonuses: how qualification works
Your friend must fully enable perps — signing up for Kalshi alone doesn't count toward a perps referral bonus.
Your friend must then complete the qualifying activity stated in the offer (for example, a minimum perps trade).
Standard referral rules apply: self-referrals and accounts that existed before the referral don't qualify, and eligibility checks run when the bonus is paid out — a friend can appear in your invited list before those checks complete.
Some campaigns combine rewards (for example, a sign-up bonus plus a perps credit) — each part has its own qualification requirement, so they may arrive at different times.
My bonus hasn't appeared — what to check
Was the promo still active? Offers end, and some are targeted to specific users. An offer banner can occasionally still display briefly after a campaign has ended — the completion deadline in the offer terms is what counts.
Is the requirement fully met? Check your promo progress tracker — if it shows you short of the target, the qualifying trades may not have counted yet (see "My promo tracker isn't updating" above).
Has enough time passed? Credits can take up to 24 hours to appear after you qualify. Survey credits post within the window stated in the email (usually within 7 days).
Referral bonuses: confirm your friend enabled perps and completed the qualifying activity (see the referral section above).
Contacting support about a missing bonus
If you've checked the above and believe a credit is missing, contact support and include: which offer it was (screenshot of the banner or email if you have it), when you completed the requirement, and — for referral bonuses — the email your friend signed up with. This gives the team what they need to verify eligibility on the first pass.