You're absolutely right! This is a classic example of a single displacement reaction. Here's the balanced chemical equation:

Cl₂(g) + 2KI(aq) → I₂(s) + 2KCl(aq)

Explanation:

* Chlorine gas (Cl₂) is a more reactive halogen than iodine. This means it can displace iodine from its compound.

* Potassium iodide (KI) is dissolved in water, forming an aqueous solution.

* The chlorine reacts with the iodide ions (I-) in solution, forming iodine (I₂) which precipitates out as a solid.

* Potassium chloride (KCl) remains dissolved in solution.

Key Observations:

* You'll see a brown-purple solid (iodine) forming in the solution.

* The solution may also become slightly acidic due to the formation of hydrochloric acid (HCl).

Let me know if you have any more questions about this reaction or other chemical reactions!