Kalshi to host $1B college basketball prediction contest

Prediction market platform Kalshi has announced a contest to predict the results of the U.S. college basketball tournament with a $1 billion grand prize. Anyone who correctly predicts the outcome of every game in the tournament will win $1 billion. If no perfect bracket is submitted, the user with the highest score on the leaderboard will receive $1 million. Separately, the company will donate an additional $1 million to charities and for scholarships. The contest is free to enter for any U.S. resident aged 18 or older, excluding those in New York and Florida.