Kalshi officially announced on March 17 a free Perfect Bracket Challenge for the NCAA March Madness tournament. According to the company’s official statement, participants can submit one bracket for a chance to win a $1 billion grand prize by correctly predicting every game. If no entry is perfect, Kalshi said it will instead award $1 million to the best-performing bracket and donate another $1 million to charity. The contest was announced ahead of the NCAA tournament.