Understanding Order Types for Kalshi Contracts

When trading Kalshi event contracts, knowing your order types is crucial. A market order executes immediately at the best available price, which can be good for speed but might result in unexpected fills if liquidity is thin. A limit order, however, lets you specify the exact price you're willing to buy or sell at; it won't execute unless that price, or better, is available, giving you price control but no guarantee of execution. Consider this difference carefully, especially with rapidly moving contract prices. For instance, if you're trying to capture a quick swing on a 'Will $USO close above 135?' contract, a market order could get you in fast, but a limit order at a specific price might prevent slippage.