Which is cheaper, Kalshi or Polymarket?

It depends on use case. Polymarket has no per-trade fees but has onramp/offramp friction. Kalshi charges per-contract fees but has free ACH transfers. For active traders keeping funds on platform, Polymarket is cheaper. For retail traders depositing and withdrawing, costs are roughly comparable.

What does Kalshi charge per trade?

Kalshi charges roughly $0.07 per contract round trip on most markets, with reduced fees on lower-priced contracts and high-volume markets.

Does Polymarket charge any fees?

Polymarket has no per-trade fees but earns margin through other mechanisms and charges small fees on USD-to-USDC onramps (typically 1–3% for cards) and offramps.

Are deposits free on Kalshi?

ACH bank transfers are free. Wire transfers and debit card deposits incur small processing fees.

Which has better spreads?

On highest-volume markets, both platforms run 1–2 cent spreads. Polymarket often has tighter spreads on crypto-native and political contracts; Kalshi often has tighter spreads on US sports and macro markets.

Are prediction markets legal in the US?

Yes. federally-regulated event-contract platforms operate under federal commodities law, which preempts state gambling statutes. That makes Kalshi, Polymarket, Sleeper, Chalkboard, Novig, Rebet, and Crypto.com legal for US traders to use today — even in states where traditional online sportsbooks remain unavailable.

Who regulates the platforms I am trading on?

The Commodity Futures Trading Commission (CFTC) — the same federal agency that regulates futures, options, and swaps. Platforms operate as Designated Contract Markets (DCMs) and must follow rules on disclosures, market integrity, customer protection, and segregation of customer funds.

Do I need to pay tax on my winnings?

Yes. Profits are taxable as either short-term capital gains or ordinary income at both federal and state levels. There is no de minimis exemption. Some Kalshi contracts may qualify for Section 1256 60/40 treatment. Consult a CPA — this is not tax advice.

Is my money protected if a platform fails?

federally-regulated event-contract platforms are required to keep customer funds segregated from operational capital. That gives meaningful protection in the event of operator bankruptcy, but it is not the same as FDIC insurance. Only fund accounts with money you are prepared to lose.

What disclosures should I read before trading?

Read each platform's contract resolution rules carefully — they vary across venues for the same event. Also review our editorial Disclosure for how we earn revenue from affiliate partnerships and how that affects (and does not affect) our coverage.

What are the age and residency requirements?

You must be 21 or older and a US resident with a valid government ID. KYC verification is mandatory and typically completes in 5–60 minutes.

Guide · 7 min read

Kalshi vs Polymarket Fees: Full 2026 Cost Breakdown

By Catie Di StefanoPublished April 21, 2026Updated August 5, 2026

Polymarket has no per-trade fees. Kalshi charges roughly $0.07 per round trip. But the all-in cost picture is different — here's the side-by-side that actually matters.

Some links on this page are affiliate links — we may earn a commission if you sign up, at no cost to you. How we make money.

Independent educational guide. Not affiliated with, endorsed by, or connected to FIFA or any official World Cup body.

Kalshi vs Polymarket Fees: Full 2026 Cost Breakdown

Sources

Every figure on this page is checked against primary sources — regulator filings, exchange documentation and official results. Prices and rules change; verify with the operator before trading.

1.Kalshi Help Center — fees, funding and account rules — Kalshi
2.Polymarket documentation — markets, fees and resolution — Polymarket
3.Kalshi market listings and contract rulebooks — Kalshi
4.Polymarket Learn — how the exchange works — Polymarket
5.Customer advisories and investor protection notices — U.S. Commodity Futures Trading Commission
6.Designated Contract Markets (DCMs) — U.S. Commodity Futures Trading Commission

Editorial coverage

Polymarket is the world's largest prediction market, with a US iPhone app for event contracts.

We don't operate Polymarket and don't accept signups on this site. For state-specific availability and guidance, jump to the sibling editorial site for your jurisdiction.

Learn more about prediction markets in soccer

Affiliate partner

Trade soccer event contracts on Kalshi — trade $25 and get $25 with code WCPREDICTS.

Kalshi is a federally-regulated exchange for event contracts on soccer, politics and culture. Open an account in minutes, trade $25 and your $25 follows.

Certain limitations apply. The offer is available to new users only, subject to the terms and conditions at kalshi.com/tc/500. 18+ only. Restrictions and eligibility requirements apply. Event contract trading involves significant risk and is not appropriate for everyone. Please carefully consider if it is appropriate for you in light of your personal financial circumstances. Kalshi products are not available in all jurisdictions. See kalshi.com/regulatory for more information.

Some links on this page are affiliate links — we may earn a commission if you sign up, at no cost to you. How we make money.

Independent educational guide. Not affiliated with, endorsed by, or connected to FIFA or any official World Cup body.

Kalshi — Trade $25 and get $25 with code WCPREDICTS.

Guide

Frequently asked questions

Which is cheaper, Kalshi or Polymarket?: It depends on use case. Polymarket has no per-trade fees but has onramp/offramp friction. Kalshi charges per-contract fees but has free ACH transfers. For active traders keeping funds on platform, Polymarket is cheaper. For retail traders depositing and withdrawing, costs are roughly comparable.
What does Kalshi charge per trade?: Kalshi charges roughly $0.07 per contract round trip on most markets, with reduced fees on lower-priced contracts and high-volume markets.
Does Polymarket charge any fees?: Polymarket has no per-trade fees but earns margin through other mechanisms and charges small fees on USD-to-USDC onramps (typically 1–3% for cards) and offramps.
Are deposits free on Kalshi?: ACH bank transfers are free. Wire transfers and debit card deposits incur small processing fees.
Which has better spreads?: On highest-volume markets, both platforms run 1–2 cent spreads. Polymarket often has tighter spreads on crypto-native and political contracts; Kalshi often has tighter spreads on US sports and macro markets.

Legal & Compliance

Legality, regulation, and your protections

For full guardrails, see our Responsible Trading guide and our editorial Disclosure. This page is informational, not legal or tax advice.

Responsible Trading

Trading safely: the questions that matter

Is trading prediction markets the same as gambling?: No. Prediction markets are federally-regulated event contracts — financial derivatives, not casino games. That said, you can still lose every dollar you put in. Treat capital at risk as money you are prepared to lose.
How much should I trade with?: Only with money you can afford to lose without affecting rent, bills, or savings goals. A common rule of thumb: cap total prediction market exposure at 1–5% of your discretionary income.
What are the warning signs of problem trading?: Trading to recover losses, hiding activity from family, borrowing to fund deposits, missing work or sleep, or feeling unable to stop. If any of these apply, step away and call 1-800-GAMBLER.
Where can I get help in the US?: Call the National Problem Gambling Helpline at 1-800-GAMBLER (free, confidential, 24/7) or visit ncpgambling.org. Most platforms also offer self-exclusion and deposit limit tools in account settings.
Can I set deposit or loss limits?: Yes. Kalshi, Polymarket, Sleeper, and Chalkboard all offer self-imposed deposit limits, loss limits, and cooling-off periods. Set them when you open the account, not after a bad week.

If you or someone you know needs help, call 1-800-GAMBLER or visit ncpgambling.org.

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