Kalshi vs Polymarket (2026) — Fees, Liquidity & World Cup Markets Compared

TL;DR:

Kalshi is the federally-regulated prediction market that US traders can use today — broadest US market coverage, cleanest regulatory track record, deepest US liquidity. Polymarket is the biggest prediction market brand globally and is relaunching for US users through its acquisition of a federally-regulated exchange. For a US trader opening one account today, Kalshi is the right choice. Polymarket becomes compelling as its US product expands across politics, culture, and macro.

Kalshi today. Polymarket as its US relaunch matures.

• Best regulated venue for World Cup tournament contracts and broader category coverage.
• Sports, politics and culture markets in US dollars.

Legality in the US

Novig's exchange, Ludlow Exchange, LLC, has been a CFTC-designated contract market since June 16, 2026. Kalshi has the longer regulatory track record; Polymarket was fined by the CFTC in 2022 before returning through acquisition.

Markets and coverage

Kalshi has the broadest US coverage today: politics, sports, economics, culture, weather, crypto. Polymarket's globally famous depth (especially political and cultural markets) hasn't fully migrated to its US product yet — initial US coverage skews toward sports. For broad market access in the US right now, Kalshi wins.

Pricing & fees

Both charge modest per-contract fees competitive with traditional futures venues and dramatically lower than sportsbook vig. Kalshi's fees are transparently disclosed at order entry. Since October 2026, Polymarket US charges a price-based taker fee (highest near 50¢, about $1.74 per 100 contracts). Orders that rest on the book pay no fee; rebates on them are limited to very high-volume traders from October 19, 2026. On liquid markets, real costs are comparable.

User experience

Kalshi's interface is finance-forward: clean, fast, category-organized, feels like a trading app. Polymarket's product has historically been more visual and social — prominent charts, news context, community commentary. Different audiences: Kalshi for execution focus, Polymarket for context-rich trading.

Who should use which

Use Kalshi if: you're opening your first the US account, you want broad market coverage today, you value the longest CFTC track record. Use Polymarket if: you specifically want exposure to its global cultural and political markets as US coverage expands. Many serious traders will eventually hold both.

Frequently asked questions

Is Kalshi or Polymarket legal in the US?

Both. Kalshi is a federally-regulated Designated Contract Market available in the US today. Polymarket is relaunching for US traders through its acquisition of a federally-regulated exchange and will be available to US residents under federal commodities law.

Which has lower fees, Kalshi or Polymarket?

Both platforms charge modest fees compared to sportsbook vig. Kalshi's fees are transparently disclosed at order entry. Since October 2026, Polymarket US charges a price-based taker fee (highest near 50¢, about $1.74 per 100 contracts). Orders that rest on the book pay no fee; rebates on them are limited to very high-volume traders from October 19, 2026. Exact costs depend on market and trade size.

Which platform has more liquidity?

Globally, Polymarket has reported larger volumes due to years of offshore activity. In the US specifically, Kalshi's regulated product has deeper liquidity today because Polymarket's US relaunch is still scaling.

Can I use both Kalshi and Polymarket?

Yes. Many active traders hold accounts on both. The platforms have different strengths — Kalshi for breadth and regulatory track record, Polymarket for cultural and political depth.

Is Polymarket fully available in the US yet?

Polymarket's US relaunch is in progress. The initial US app offers a limited set of sports contracts, with more verticals expected to roll out over the coming months. Full coverage isn't yet available.

Which platform should I use for sports?

For most sports markets today, Kalshi's coverage is broader. For sports-first social trading, Sleeper is a strong alternative to both.

Which platform should I use for politics?

Kalshi has the deepest political market coverage in the regulated US market today. Polymarket historically dominated election markets globally but its US political coverage is still expanding.

Does Kalshi or Polymarket offer better bonuses for new users?

Promotional offers change frequently. Check each platform directly for current new-user bonuses. Our platform reviews are updated with the latest offers when they materially change.