The 2026 college football season is only a few weeks old, but the upsets are already causing some re-calculating when it comes to the top national championship contenders. The No. 1 team lost, with a late Texas rally to beat Ohio State putting the Longhorns at the top of the polls. The Buckeyes fell to sixth in the latest AP poll, the spot Oregon occupied before the Ducks were upset by Oklahoma State. They fell all the way to 21st, and future weeks are sure to bring more surprises. So what does that mean for college football futures? We're looking here at the price changes after Week 2 on college football futures trades at Kalshi, one of the top prediction market apps. The latest Kalshi promo code CBSPORTS gives new users a $25 sign-up bonus when they trade $25+. Click here to get started at Kalshi with the promo code CBSSPORTS:
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College football futures trades after Week 2
Prices to win national championship at Kalshi
- Texas: Yes $0.15, No $0.86
- Notre Dame: Yes $0.13, No $0.88
- Miami (Fla.): Yes $0.12, No $0.89
- Ohio State: Yes $0.12, No $0.89
- Indiana: Yes $0.11, No $0.90
- Georgia: Yes $0.10, No $0.91
- LSU: Yes $0.09, No $0.92
- Oregon: Yes $0.04, No $0.97
- Alabama: Yes $0.03, No $0.98
- Ole Miss: Yes $0.03, No $0.98
- Texas A&M: Yes $0.03, No $0.98
- USC: Yes $0.03, No $0.98
Saturday started off looking like Texas quarterback Arch Manning would have another disappointing day against the Buckeyes. Then the Longhorns came to life, with Manning finishing the day with 196 passing yards and 24 on the ground, with one touchdown and one interception. Running back Hollywood Smothers carried the team in the second half, finishing the game with 74 rushing yards and two scores. The Longhorns lost to the Buckeyes to kick off last season, and that was one reason they missed the playoffs after losing to OSU in the previous season's College Football Playoff semifinals.
The Longhorns play in the SEC, which means the schedule is loaded with tough opponents. Six teams on the upcoming slate are ranked this week, including three in the top 10 -- Ole Miss, LSU and Texas A&M. Texas was priced at $0.12 entering the season, while Notre Dame and Ohio State were the priciest national championship shares at $0.13. The Longhorns are at $0.74 just to make the playoffs, with Notre Dame and Miami the most expensive shares at $0.87 apiece and Indiana ahead of the Longhorns at $0.78. Trade $25+ at Kalshi using the latest promo code CBSSPORTS and get $25 as a sign-up bonus:
Notre Dame has scored 93 points over its first two games -- routs of Wisconsin and Rice -- and BYU, Miami and SMU are the currently ranked teams on the schedule. Quarterback CJ Carr is among the Heisman Trophy contenders and has 492 passing yards and six TDs with zero interceptions so far. The Irish lost to Miami to open last season, and that had a major impact on both teams. Notre Dame finished 10-2 and missed the playoffs while the Hurricanes also finished the regular season 10-2 but edged their way in and went on to the championship game, where they lost 31-27 to Indiana. The Irish are the most likely team to go undefeated this season, according to Kalshi pricing. Shares on ND to go unbeaten are $0.39 each, with Miami ($0.27) and Texas Tech ($0.27) the next choices.
The Hurricanes also have a Heisman candidate or two, with quarterback Darian Mensah leading an explosive offense that also features dynamic receiver Malachi Toney. Miami hasn't really been tested, crushing Stanford 45-6 on the road then steamrolling Florida A&M 77-7 last Thursday. The Canes piled up a school-record 856 yards and tied the mark for points against FAMU, as even the backups and third-stringers beat up on the FCS school. Mensah has completed 91% of his passes for 653 yards, eight TDs and no interceptions in less than two games of work. Toney has 330 receiving yards and four touchdowns. The Nov. 7 game in South Bend looms large, as Notre Dame is the only team on the schedule that is ranked entering Week 2. UM is the clear top choice to win the ACC, something the Hurricanes have never done, as it is priced at $0.65, with SMU next up at $0.14. Use the latest Kalshi promo code CBSSPORTS to get a $25 bonus when you make $25+ in trades:
The past two national champions shouldn't be discounted, with Ohio State and Indiana both remaining among the elite. The Buckeyes blew a 20-point lead against Texas, but Julian Sayin threw for 278 yards and Jeremiah Smith had eight receptions for 164 yards and a touchdown. The Buckeyes had to replace a lot of talent on a defense that yielded only 9.3 points per game last season, best in FBS, but it had allowed only six points until the fourth quarter Saturday. The Hoosiers had to replace Heisman winner Fernando Mendoza at quarterback, but TCU transfer Josh Hoover has eight TD passes and no interceptions in the first two games, routs of North Texas and Howard. OSU and IU are the highest-priced shares at Kalshi to win the Big Ten, with the Buckeyes at $0.36 per share and the Hoosiers at $0.29.
Plenty of other SEC teams are right in the mix, as expected, and this weekend's LSU vs. Ole Miss matchup will change things a little bit. Lane Kiffin and his Tigers are priced at $0.59 per share to beat the Rebels on Saturday, with Ole Miss at $0.65. In fact, the entire SEC schedule will shake these prices up all season. The Tigers are set to take on current No. 9 Texas A&M next week, with No. 10 Alabama looming Nov. 7 and a home date with No. 1 Texas on tap the following week. Get $25 as a sign-up bonus after trading $25+ with the latest Kalshi promo code CBSSPORTS:
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