Compare prediction market platforms

Kalshi

An exchange where traders buy and sell event contracts — financial derivatives that pay out based on the outcome of real-world events.

Polymarket

A prediction market where users trade outcome shares priced between $0 and $1 against each other, settled in the USDC stablecoin.

Kalshi

• Politics
• Sports
• Commodities

Polymarket

• Politics
• Sports
• Economics
• Cryptocurrency
• Technology
• Culture & entertainment
• Finance
• Weather
• Geopolitics
• Mentions

Kalshi

Transaction fee charged on the expected earnings of a contract; exact rates are set out in Kalshi’s Fee Schedule.

Polymarket

Takers pay a category-based fee; makers pay nothing. Geopolitics markets and USDC deposits/withdrawals carry no Polymarket fee.

Kalshi

Accessible internationally, with some jurisdictions restricted under Section VI of the Kalshi Member Agreement.

Polymarket

Restricted in a published list of jurisdictions. The United States, United Kingdom, France, Germany, Australia and four Canadian provinces are close-only on the international platform.

Kalshi

• Kalshi states it collects sign-up information to comply with applicable U.S. laws and CFTC rules and regulations.
• Kalshi contracts trade as financial derivatives based on events.

Polymarket

Polymarket blocks or limits order placement in certain jurisdictions for sanctions and regulatory compliance, including gambling and prediction market laws.

Kalshi

Polymarket

USDC. No Polymarket deposit fee; third-party on-ramps may charge.

Kalshi

Polymarket

USDC. No Polymarket withdrawal fee; intermediaries may charge.

Kalshi

• Revenue comes from transaction fees, not from taking a side on outcomes.
• Cancelling a resting order is free.
• Onboarding is carried out under U.S. law and CFTC rules, with identity checks.

Polymarket

• Makers are never charged fees.
• Geopolitics markets are fee-free.
• No Polymarket fee to deposit or withdraw USDC.
• Positions can be sold at any time before resolution.

Kalshi

• Fees can differ between markets, so each market’s fee details need checking before trading.
• Some markets charge maker fees on resting orders once they execute.
• Some international jurisdictions are restricted, and eligibility is the user’s responsibility.

Polymarket

• Taker fees apply in most categories, with the highest rate (0.07) on crypto markets.
• The international platform is close-only in many places, including the U.S., UK and four Canadian provinces.
• Funding requires USDC; third-party on-ramps may add their own fees.