[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!

[ben_w]

So they want you to believe, but I find I cannot take such claims seriously.

[b112]

Wanna bet?

[ben_w]

If I did, I'd be on one of the prediction markets.

[brador]

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

[weird-eye-issue]

Not necessarily, I mean if you buy a in-game item or currency that wouldn't be a cash advance so with this they could just say you bought $20 worth of credits and since you're buying credits that could be considered a good.

[brador]

That would be purchasing a license (service).

Gambling is always classed as a cash advance. The gift cards trick has been tapped and closed, the credit companies figured it out decades ago.

[lxgr]

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