⭐Legacy to Kalshi Wallet Transition

Kalshi Wallet Migration Overview

Kalshi is transitioning all user positions from the legacy wallet and portfolio to the new Kalshi wallet and portfolio. This change is necessary as the LedgerX clearinghouse, which currently supports the legacy wallet, will no longer accept user deposits.

Key Dates and Actions

• Deposit Pause: Deposits to the LedgerX clearinghouse have been halted. All new deposits can be made to your Kalshi wallet.

• Withdrawal Pause: Withdrawals from the LedgerX clearinghouse will be paused at 11:59pm ET on Tuesday, November 12th.

• Market Closure: On Friday, November 15th all markets on the legacy platform, cleared by LedgerX, will close at 12:00pm Noon ET.

• Transition Process: The migration will occur in the background, ensuring a smooth transfer of positions and funds.

Post-Migration

• Kalshi Markets Opening: When Kalshi markets open at 8:00am ET on Saturday, November 16th, all user positions and funds from the Legacy platform will have been transferred to the new Kalshi wallet and portfolio.

• Order Cancellation: Any open orders on legacy markets will be canceled automatically.

• API: All markets will now be available on api.elections.kalshi.com/trade-api/v2

This migration ensures that users can continue trading seamlessly on the updated Kalshi platform with enhanced features and improved clearing processes. Trade history and other non-essential trading data from closed markets will be migrated throughout the week after migration.

Why is the Kalshi wallet better than Legacy?

Kalshi is transitioning from our legacy third-party clearinghouse (LedgerX) to our own clearinghouse (Kalshi Klear).

• Interest: Kalshi users are paid interest on all holdings and cash balances.

  • Take longer positions: Interest accrual allows you to hold your positions for a longer period without worrying about running out of funds.

  • Get paid while you hold: Watch your account balance grow as your positions accrue interest.

  • Maximize your returns: Combine the potential profits from your trades with the interest earned on your account balance!

• Settlements: Settlements on Kalshi Klear are up to 100 times faster meaning you get your funds faster than you ever have before!

• More deposit methods: Unlike the legacy wallet, the Kalshi wallet supports multiple payment methods

  • Bank Account (ACH)

  • Bank Account (Wire)

  • Crypto (USDC)

  • Debit Card (Immediate funding)

• MECNET (Mutually exclusive contract netting): Contracts with collateral returns can now have new strikes added, a unique addition to the Kalshi Exchange.

• More markets: Kalshi will now have the ability to list more useful and enjoyable markets for all users to trade on!