Kalshi offers $1 billion jackpot for March Madness

Operator News

Kalshi is offering a colossal $1 billion prize for correctly predicting the winner of every single March Madness basketball game a feat that is mathematically almost impossible.

Each year, tens of millions of people make their bets about who will triumph at every stage of the NCAA Division I men’s basketball tournament, known as March Madness.

But with 64 teams competing in 63 famously unpredictable knockout games, the odds of calling every single result correctly are potentially as low as 9.2 quintillion to 1, and it has never happened in history (as far as we know).

“You probably won’t win this contest,” Kalshi said in a blog post, claiming that it wanted to give the world “a lesson in probability”. 

“To put this into perspective, you are more likely to be struck by lightning than create the perfect bracket. Your odds are roughly equivalent to searching for one grain of sand from all of Earth’s beaches and deserts, and getting it right on the first try.”

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