Kalshi Reverses $18.6 Million Game Payouts After Miscalling Western Michigan-Michigan Winner
Updated
Updated · NBC Sports · Sep 6
Kalshi Reverses $18.6 Million Game Payouts After Miscalling Western Michigan-Michigan Winner
1 articles · Updated · NBC Sports · Sep 6
Summary
$18.6 million in Kalshi trading volume was caught up after the platform prematurely settled the Western Michigan-Michigan market as a Western Michigan win.
Kalshi later flipped the result, clawing back payouts from apparent winners, reimbursing losing traders and then issuing the correct settlement once the game outcome was clear.
The reversal followed a chaotic finish to the game that exposed how quickly sports prediction markets can misfire when they settle before an event is definitively over.
The episode puts pressure on Kalshi and rival platforms such as Polymarket to tighten settlement timing in volatile live-event markets.