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# How to Trade NFL Games Live on Kalshi Step by Step
- URL: https://tctradinglab.com/how-to-trade-nfl-games-live-on-kalshi/
- Published: 2026-10-29T22:59:38.000Z
- Updated: 2026-10-29T22:59:38.000Z
- Description: A recorded Patriots vs. Bears walkthrough showing live entries, limit orders, fees, and a filled exit at a $1.97 loss. The player position remains open.
- Author: Thomas Carvo
- Tags: Kalshi, nfl, Prediction Markets, Limit Orders, Trading Tutorials

You can enter an NFL trade after kickoff and try to sell it before the game ends. To trade NFL games live on [Kalshi](https://kalshi.com/r/TCTrading?ref=tctradinglab.com), select an available game market, choose Yes or No, review the price and fees, and submit your order. An early exit still requires a buyer at a price your order allows.

In this walkthrough, I trade the New England Patriots during a game against the Chicago Bears. You'll follow the purchases, a resting limit order, a planned exit that doesn't fill, and the sale that closes the position for a **$1.97 loss**. I also open a separate A.J. Brown touchdown position, which remains open when the recording ends.

This is a recorded live-game session, not a livestream or a current trade recommendation. Prices, fees displayed in the examples, and available markets reflect the recording.

## Table of Contents

- [Table of Contents](#table-of-contents)
- [Key Takeaways](#key-takeaways)
- [Prerequisites to Trade NFL Games Live on Kalshi](#prerequisites)
- [Step-by-Step Guide to the Recorded NFL Trade](#step-by-step-guide)  
  - [Step 1: Find the live NFL game](#find-live-game)
  - [Step 2: Understand the Yes and No contracts](#understand-contracts)
  - [Step 3: Buy using dollars or shares](#buy-dollars-or-shares)
  - [Step 4: Place and track a limit buy](#place-limit-buy)
  - [Step 5: Review spreads and player markets](#review-other-markets)
  - [Step 6: Monitor the open position](#monitor-position)
  - [Step 7: Set a limit sell](#set-limit-sell)
  - [Step 8: Cancel the old order and close the trade](#close-trade)
- [Maker vs. Taker Fees in Live NFL Trading](#maker-taker-fees)
- [Common Mistakes to Avoid](#common-mistakes)
- [FAQ](#faq)  
  - [Can you buy and sell during an NFL game?](#trade-during-game)
  - [Does a 29-cent price mean a guaranteed 29% chance?](#price-and-probability)
  - [Is a $1 payout the same as $1 profit?](#payout-versus-profit)
  - [Why is my limit order still open?](#unfilled-limit-order)
  - [Does every limit order get maker fees?](#limit-order-fees)
  - [Does a limit sell protect against a falling price?](#limit-sell-protection)
  - [What happened to the two positions in the video?](#recorded-results)
- [Conclusion: Watch the Full Live Trading Walkthrough](#conclusion)

## Key Takeaways

- **Live trading lets you manage a position during the game**, provided the market is open and your orders can find matching liquidity.
- A simple Yes/No contract has a defined settlement outcome. Your **profit is different from its payout** because you must account for the purchase cost and fees.
- Buying with dollars controls the amount entered in the order ticket; buying with shares specifies the contract quantity. Review the resulting order before submitting.
- A limit order controls your acceptable price but **does not guarantee a fill**. A queued order is not a completed purchase or sale.
- Maker and taker fees depend on how the order executes and the applicable market's fee schedule, not just which order type you select.
- An unrealized gain can disappear quickly. My Patriots position moved into profit during the recording but ultimately closed at a loss.

## Prerequisites to Trade NFL Games Live on Kalshi

This is a beginner-friendly walkthrough of order entry and position management. The accompanying video runs **18 minutes and 5 seconds**; an actual trade may take longer to fill or may not fill at all.

To follow along with the platform, you'll need:

- An eligible Kalshi account with funds available if you intend to place a real order.
- An NFL market that is currently open for trading.
- A clear understanding of the exact contract question, its rules, and the amount you're putting at risk.
- Time to review the order ticket, check order status, and monitor any position you open.

You can watch the complete process without placing a trade. The small amounts used below are demonstration sizes, not a recommendation for how much you should risk.

If you're considering an account, use my [Kalshi link](https://kalshi.com/r/TCTrading?ref=tctradinglab.com) to check the current signup offer and eligibility requirements. Promotions can change; review the terms shown before signing up rather than relying on an amount mentioned in a recording. The source video's age notice is **18+**, with additional eligibility and location restrictions.

## Step-by-Step Guide to the Recorded NFL Trade

The main example follows a Patriots game-winner position from entry to exit. The important distinction throughout is between **placing an order**, **getting a fill**, and **holding a position**.

### Step 1: Find the live NFL game

In the interface shown, I open **Markets**, navigate to **Sports**, and select **NFL**. If NFL isn't in the featured choices, I go through **Football** instead.

The **Happening Now** area shows games in progress. I select Patriots vs. Bears during the second quarter, then open the New England game-winner market.

The market page includes a live price chart and an order book. The chart shows how prices have changed; the order book shows resting buy and sell interest. Neither guarantees that your order will execute at the last price you saw, especially while the game is moving.

### Step 2: Understand the Yes and No contracts

For the game-winner question in this example, buying **Yes** means taking the side that New England wins. Buying **No** takes the opposite side of that specific question.

At one point, the Yes price is about **29 cents**. That price can be read as a roughly 29% market-implied probability, reflecting what traders are willing to pay. It isn't a promise about the team's true chance of winning.

For a simple binary contract bought at 29 cents and held through normal settlement:

| Outcome                   | Payout per Yes contract | Result before fees |
| ------------------------- | ----------------------- | ------------------ |
| The contract resolves Yes | $1.00                   | $0.71 gain         |
| The contract resolves No  | $0.00                   | $0.29 loss         |

The **$1 is the payout, not the profit**. Subtract your purchase cost and applicable fees to determine your result. Read the market's own rules for its settlement conditions, including any exceptions; don't assume every sports product settles identically.

### Step 3: Buy using dollars or shares

The order ticket in the recording offers **Dollars**, **Shares**, and **Limit**. I demonstrate the first two with small purchases before moving to a limit order.

For the dollar-based purchase, I select Yes, enter **$1**, review the buy, and submit it. The completed order shows **95 cents for the position and 5 cents in fees**. Those are the recorded order's figures, not a fixed fee for all $1 trades.

Next, I switch to shares and buy **one contract**. The displayed price moves while I'm preparing the order, which is exactly why the review screen matters: an earlier quote is not necessarily your execution price.

Before submitting either version, check:

1. The market and the Yes/No side.
2. The amount or contract quantity.
3. The price, fees, and total cost shown.
4. The potential payout, without confusing it with profit.

These initial purchases take available liquidity. A larger quick order can encounter multiple prices, so don't assume every contract will fill at one quoted level.

### Step 4: Place and track a limit buy

I then place a limit buy for **one Yes contract at 20 cents**. In the recording, clicking that price level in the order book opens a limit-order ticket with the price already populated.

A buy limit sets the maximum price you're willing to pay. If no matching seller is available at that price or better, the order can remain open rather than filling immediately.

The ticket also offers expiration choices, including **Good Till Canceled**, **End of Day**, **Immediate or Cancel**, and a custom time. I choose a custom expiration of **10 p.m.** for this demonstration; that is the recording's setting, not a suggested deadline for another game.

After submission, the order is queued. A clock indicator marks it on the order book, and opening the order details shows that it hasn't filled yet. Later, while I check the portfolio and order list, the contract fills.

You can review resting orders through the market page or through **Kalshi Pro → Portfolio** in the interface shown. Keep the orders list separate from the positions list: one describes instructions waiting to execute, while the other describes contracts you actually hold.

I subsequently add another **$5** to the Patriots position, bringing the displayed quantity to **21.68 shares**. That's part of the recorded demonstration, not advice to keep adding when a price moves. Increasing the position also increases the money exposed to that outcome.

### Step 5: Review spreads and player markets

The game-winner market is only one of the choices shown. The recording also explores spreads, totals, team totals, and player markets such as touchdowns and passing, receiving, or rushing yards.

For the spread example, I look at **Chicago winning by more than 3.5 points**. A four-point win satisfies that condition; a three-point win does not. Picking the correct game winner is therefore not enough to win every spread contract involving that team.

I also buy **five Yes contracts** in an A.J. Brown market for at least one touchdown. This is a separate player position from the Patriots game-winner trade. Under the winning settlement described in the demonstration, those five contracts would pay **$5 in total**, before subtracting their purchase cost and fees.

Before entering a player market, open its **market rules**. Check the statistic being measured, the settlement source, and any participation or unusual-event provisions. A familiar player name doesn't tell you everything about the contract you're buying.

### Step 6: Monitor the open position

As the game continues, the Patriots price moves upward. At one point, the position panel shows **$1.13 in unrealized profit**. I haven't sold the contracts, so that gain hasn't been realized through an exit.

The position later swings back into a loss while I'm still explaining the trade. This is an important part of the walkthrough: a favorable number in the portfolio does not mean you have secured that result.

Prices can react quickly to plays and new information. Seeing a play on your screen doesn't guarantee you can trade before everyone else responds. The useful question is whether the **price actually available to you**, after considering fees, fits the trade you intended to make.

### Step 7: Set a limit sell

To demonstrate a planned exit, I open the Patriots position, select **Sell**, and change the ticket to a limit order. I offer **10 shares at 40 cents**, with the expiration set to Good Till Canceled.

That order would sell part of the position if buyers matched it at 40 cents or better. It does not immediately close the position, and it does not secure a profit simply because the order has been submitted.

**A limit sell above the market is not a stop-loss.** If the price keeps falling and never reaches a price that can fill the order, the contracts remain exposed. Treat the open order as a conditional exit instruction, not guaranteed downside protection.

In this recording, the 40-cent sell stays open until I decide to cancel it.

### Step 8: Cancel the old order and close the trade

I next demonstrate changing the exit plan. Through the orders list in Kalshi Pro, I cancel the outstanding sell order, then return to the Patriots position.

**Canceling the order does not sell the position.** It removes the unfilled instruction. I still need to submit a new sell and receive a fill to close the contracts.

For that exit, I select all **21.68 shares** and place a sell at **21 cents**. The order initially rests on the ask. I wait rather than treating submission as confirmation that I'm out.

The sell then fills, and the position panel reports a **$1.97 realized loss**. At that point, I no longer have an open Patriots or Bears position. The five-contract A.J. Brown position is still open, so the video does not establish its final outcome.

That sequence is the full trade-management lesson: cancel the unwanted order, submit the intended replacement, verify the fill, and check the remaining exposure.

## Maker vs. Taker Fees in Live NFL Trading

**A taker order matches liquidity already resting in the order book. A maker order rests first and is later matched by another trader.** Selecting Limit does not automatically make every fill a maker fill: a limit order that can immediately match an existing order can take liquidity.

The video compares fee calculations using a **0.07** taker coefficient and a **0.0175** maker coefficient. These illustrate why execution method can affect trading costs. They are not universal fee promises; market-specific multipliers, applicable rules, and rounding also matter.

For the general taker-fee examples shown in the video:

| Price per contract | Cost of 100 contracts before fees | Illustrated trading fee |
| ------------------ | --------------------------------- | ----------------------- |
| $0.01              | $1.00                             | $0.07                   |
| $0.50              | $50.00                            | $1.75                   |
| $0.99              | $99.00                            | $0.07                   |

The examples show fees peaking around a 50-cent contract price and falling toward the extremes under that fee calculation. Notice the units: **$50 is the cost of 100 contracts at 50 cents**, not the price of one contract.

Check the current Kalshi fee schedule and your order preview for the market you're actually trading. Some markets charge maker fees, and a lower-fee resting order still might not fill. Potential savings need to be weighed against that execution uncertainty, especially during a fast-moving game.

## Common Mistakes to Avoid

- **Treating the last displayed price as a guaranteed fill.** Review the order ticket and verify the completed transaction.
- **Calling an open sell order a completed exit.** Until it fills, the corresponding contracts are still in your position.
- **Assuming every limit order has the same fee treatment.** Whether it takes or adds liquidity matters, as does the market's schedule.
- **Confusing payout, unrealized profit, and realized profit.** They answer different questions about the trade.
- **Assuming a sell target protects against further losses.** A resting sell at a higher price does not force an exit as prices fall.
- **Adding size without recognizing the extra exposure.** The recording shows an additional purchase, not a guaranteed recovery method.
- **Treating one closed trade as the end of all exposure.** The Patriots trade is closed at the end, but the player position remains open.

## FAQ

### Can you buy and sell during an NFL game?

Yes, when the relevant market is open and matching liquidity is available. The recording demonstrates entries and an exit during the game. You do not have to hold every position through settlement, but an early sale is not guaranteed.

### Does a 29-cent price mean a guaranteed 29% chance?

No. For the simple binary market discussed here, 29 cents is commonly interpreted as roughly a 29% market-implied probability. It reflects trading prices, not a verified or guaranteed forecast.

### Is a $1 payout the same as $1 profit?

No. A $1 winning payout includes the value you paid to acquire the contract. Profit is what remains after subtracting the purchase cost and applicable fees. If you sell before settlement, your result instead depends on the price at which your exit fills.

### Why is my limit order still open?

It may not have found enough matching interest at your limit price or better. Check the remaining quantity and status, then decide whether to keep, cancel, or replace the unfilled order. Don't assume a queued order has created or closed a position.

### Does every limit order get maker fees?

No. A limit order can execute immediately against an existing order. Maker treatment depends on an order resting and subsequently being matched, and the actual fee depends on the market's applicable schedule.

### Does a limit sell protect against a falling price?

Not by itself. It sets the minimum acceptable selling price, not a guaranteed exit if the market falls. In the recording, the 40-cent target remains unfilled and is later canceled before a new exit order is placed.

### What happened to the two positions in the video?

The Patriots position closes with a reported **$1.97 loss**. The A.J. Brown touchdown position remains open at the end of the recording. No final result for that player position is shown.

## Conclusion: Watch the Full Live Trading Walkthrough

To trade NFL games live on Kalshi, you need to understand the contract, review the price and fees, and distinguish an order from a completed fill. The recorded Patriots trade shows why that matters: an unrealized gain turns into a loss, a planned sell doesn't execute, and the eventual exit requires a different order.

Watch the full TC Trading walkthrough to follow the order tickets, portfolio checks, and actual fills from start to finish: [How to Trade NFL Games Live on Kalshi (Step-by-Step)](https://www.youtube.com/watch?v=CuU7yHV86F8&ref=tctradinglab.com).