The San Francisco 49ers close out the preseason on the road against the Las Vegas Raiders at Allegiant Stadium, with kickoff set for 8:00 p.m. ET on Thursday. Kalshi traders have Las Vegas at 57% and San Francisco at 43%, as of this writing.
San Francisco enters 1-1 in the preseason after a loss to Tennessee and a win over the LA Chargers, while Las Vegas is also 1-1 after a loss to Arizona and a win over Houston. Both teams face the mandatory cutdown to 53 players on Aug. 30.
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Snapshot
Matchup: San Francisco 49ers vs. Las Vegas Raiders
Kickoff: Thursday, Aug. 27, 2026, 8:00 p.m. ET
Venue: Allegiant Stadium, Las Vegas, Nev.
Watch: NFL+
Kalshi traders' current number: 43% San Francisco 49ers / 57% Las Vegas Raiders (as of this writing)
San Francisco 49ers vs. Las Vegas Raiders, Thursday, August 27, 2026
The market has Las Vegas as a moderate favorite, as of this writing, reflecting San Francisco's plan to sit the bulk of its roster.
According to Kalshi's 2026 NFL market-implied power rankings, San Francisco enters as the No. 12 team in the league while Las Vegas ranks 25th, one of the larger gaps between opponents on this week's preseason slate.
San Francisco is dealing with nearly two dozen injured players heading into Thursday, and head coach Kyle Shanahan said he doesn't expect to play many starters, calling the plan similar to Week 1. Quarterback Kurtis Rourke remains out with three broken ribs suffered in the preseason opener, and defensive end Nick Bosa is still working back from a torn Achilles.
No. 1 overall pick Fernando Mendoza is pushing veteran Kirk Cousins for the Week 1 job in Las Vegas. Head coach Klint Kubiak has not named a starter, and it's unclear at this time how snaps will be split. Mendoza has completed 24 of 47 passes for 280 yards, two touchdowns and two interceptions across his first two preseason outings.
With San Francisco's starters mostly held out, the game becomes a showcase for both teams' roster-bubble players. Rookie wideout De'Zhaun Stribling has been the 49ers' standout performer through two games, and right guard Dominick Puni's status remains in question after a return to the concussion protocol.
Las Vegas' receiver room has drawn criticism from Kubiak after a quiet Week 2, putting added pressure on that group Thursday.
Margin of victory
Kalshi traders have Las Vegas winning by more than 3.5 points at 45%, as of this writing.
Point total
Kalshi traders have the total priced at over 37.5 points at 52%, as of this writing.
NFC West Division
Kalshi traders have the San Francisco 49ers at 21% to win the NFC West, as of this writing, trailing division leader Los Angeles Rams at 47%.
AFC Championship
Kalshi traders have the Las Vegas Raiders at 1% to win the AFC Championship, as of this writing.
The takeaway
Kalshi markets now predict:
When is San Francisco 49ers vs. Las Vegas Raiders? Thursday, Aug. 27, 2026, at 8:00 p.m. ET.
Where is the game? Allegiant Stadium in Las Vegas, Nev.
How can I watch? NFL+.
What is Kalshi traders' current number? San Francisco 43%, Las Vegas 57%, as of this writing.
Las Vegas is the moderate favorite in a game defined less by the scoreboard than by San Francisco's health and the Raiders' unresolved quarterback battle behind Kirk Cousins and Fernando Mendoza.
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