Kalshi $1 Billion Perfect Bracket Challenge Returns for March Madness 2026

This page may contain affiliate links to legal sports betting partners. If you sign up or place a wager, FOX Sports may be compensated. Read more about Sports Betting on FOX Sports. A billion dollars is on the line, and it all starts with your bracket. Kalshi is offering $1,000,000,000 to anyone who submits a perfect March Madness bracket, putting one of the largest prizes ever behind one of the most difficult challenges in sports. A perfect bracket requires correctly picking all 63 games, something that has never been done in the history of the NCAA Tournament. The 2026 challenge is free to enter and available to eligible users who complete registration and verification on Kalshi. Build your bracket here:https://kalshi.com/billion How Hard Is It to Build a Perfect March Madness Bracket? Filling out a perfect March Madness bracket is widely considered one of the most difficult feats in sports. To get there, you would need to correctly predict all 63 games in the NCAA Tournament, from the Round of 64 through the national championship. No one has ever submitted a publicly verified perfect bracket. If every game were a true 50/50 coin flip, the odds of picking a perfect bracket would be 1 in 9.2 quintillion. In reality, fans use stats, matchups, and basketball knowledge to guide their picks. Even then, the odds are still estimated to be around 1 in 120 billion. That's why even strong brackets rarely survive the first weekend, and why the idea of perfection has become the ultimate long-shot pursuit every March. Create your bracket here:https://kalshi.com/billion What You Can Win in the Kalshi Bracket Challenge Kalshi is offering multiple ways for participants to win, even if no one submits a perfect bracket. The headline prize is $1 billion, awarded to anyone who correctly predicts every game in the tournament. If no perfect bracket is submitted, the contest still guarantees a payout. The prize pool is financially backed by SIG Parametrics, LLC, a member of the Susquehanna International Group of Companies. How to Enter the Kalshi Bracket Challenge Entering the Kalshi bracket challenge is free, but participants must complete registration and identity verification before submitting a bracket. Each eligible user is limited to one bracket entry, and Kalshi says the contest will accept up to 10 million total entries. Submit your bracket here:https://kalshi.com/billion Join Devin Booker on Kalshi Kalshi is also promoting the challenge with Devin Booker, whose connection to March basketball makes him a natural fit for the campaign. Booker pointed to his 2014 Kentucky team, which opened the season 31-0 and looked like it might finish the job without a loss before falling short in the NCAA Tournament. His takeaway fits the premise of the contest: perfection is incredibly rare, but still worth chasing. That idea sits at the center of the challenge. A perfect bracket remains one of the toughest outcomes in sports, which is exactly why it continues to capture so much attention every March. Who Is Eligible to Enter the Kalshi Perfect Bracket Challenge? TheKalshi bracket challenge is open to eligible users in the United States who meet the platform's registration and verification requirements. To enter, participants must: Not eligible to enter: Kalshi notes that entries from users who do not meet these requirements may be disqualified, even if a bracket is submitted. Kalshi Perfect Bracket Key Rules Before locking in your picks, there are a few important rules to understand. Submit your bracket before the deadline:https://kalshi.com/billion Kalshi $1 Billion Bracket Challenge FAQ Is the Kalshi $1 billion bracket challenge legit? Yes, the Kalshi bracket challenge is real. The promotion is financially backed by SIG Parametrics, LLC, a member of the Susquehanna International Group of Companies. All entries and potential winners are subject to verification and the official contest rules. Is the Kalshi bracket challenge free to enter? Yes, the Kalshi bracket challenge is free to enter. No purchase or deposit is required. Participants must create a Kalshi account and complete identity verification to submit a bracket. Do you need to trade on Kalshi to enter? No, you do not need to trade on Kalshi to participate. The bracket challenge is separate and can be entered without placing any trades or making a deposit. What are the odds of a perfect March Madness bracket? There are 63 games in the NCAA Tournament and 9.2 quintillion possible outcomes. If every game were random, the odds of a perfect bracket would be about 1 in 9.2 quintillion. Even with informed picks, estimates are still around 1 in 120 billion. What happens if no one gets a perfect bracket? If no eligible participant submits a perfect bracket, the highest-scoring bracket will be eligible to claim the $1 million prize, subject to verification and the official rules. The prize is split in the event of a tie. What happens if multiple people submit a perfect bracket? If more than one eligible participant submits a perfect bracket, the $1 billion prize would be split equally among the winners, subject to verification and the official rules. How many brackets can you submit? Each participant is limited to one bracket entry. Multiple entries or accounts may result in disqualification. Who is not eligible to enter? The contest is not available to residents of New York or Florida, individuals located outside the United States at the time of entry, or anyone under 18 years old. Players, coaches, and staff involved in the 2026 NCAA Tournament are also not eligible. When is the deadline to submit a bracket? Brackets must be submitted before March 19, 2026 at 1:00 PM ET or before tip-off of the first First Round game, whichever comes first. Entries cannot be changed after submission. How is the top bracket scored? If no perfect bracket is submitted, the top bracket is determined by total points earned for correct picks in each round. Later rounds are worth more points, increasing the importance of correct picks deeper in the tournament. Has anyone ever had a perfect March Madness bracket? No, there has never been a publicly verified perfect bracket that correctly predicted all 63 games of the NCAA Tournament. Every year, millions of brackets are submitted, but they are typically eliminated within the first few rounds. What is the closest anyone has come to a perfect bracket? Several brackets have made it deep into the tournament without a loss, but none have reached a full 63-for-63. In recent years, some verified brackets have stayed perfect into the Sweet 16, but even those were eventually broken as the tournament progressed. What was Warren Buffett's bracket challenge? In 2014, Warren Buffett partnered with Quicken Loans to offer $1 billion to anyone who could submit a perfect NCAA Tournament bracket. No one won the prize, highlighting just how difficult it is to correctly predict every game. Kalshi's challenge brings back that same concept, centered around the long-shot nature of building a perfect bracket. How many perfect brackets are left after the first round? Very few. While millions of brackets are submitted each year, the vast majority are eliminated after the first round due to upsets. By the end of the opening weekend, it's common for no perfect brackets to remain. Why is it so hard to predict March Madness? March Madness is unpredictable because of single-elimination games, frequent upsets, and matchup variability. Lower-seeded teams regularly beat higher seeds, making it difficult to project outcomes across all 63 games. Even strong, data-driven brackets are unlikely to stay perfect for long.