[tills13]

Instant deposit via credit card? Is that not considered a cash advance?

[LPisGood]

It is, and I know someone who found that out the hard way during the Super Bowl.

[herpderperator]

A cash advance is taking physical cash out with your credit card at an ATM or bank teller. Making an online purchase (which depositing money into your Kalshi account is) is therefore not a cash advance.

[Arainach]

There are many kinds of "cash advance". You can't buy lottery tickets on a credit card (or in jurisdictions where you can, it's a cash advance). Credit cards also treat things such as buying dollar coins online from the US Mint different from a normal transaction.

https://gosunward.org/articles/cash-advance-on-a-credit-card...

[notpushkin]

There is a whole lot of merchant categories that is treated like withdrawing money from an ATM. I believe the term is “quasicash”.

[jamesfinlayson]

In Australia any sort of gambling payment on a credit card is treated as a cash advance. If you use PayPal on top of your credit card, the credit card company still manages to introspect it and apply a cash advance fee.

[YeahThisIsMe]

But these are "prediction markets", an entirely different thing that is definitely not gambling!

[brador]

It’s a cash advance since you’re not purchasing goods or services with the card.

[lxgr]

It’s really a cash advance whenever the issuing bank decides it is. There is no official definition.