Comparison · updated July 2026

Kalshi vs Fanatics Markets

Kalshi and Fanatics Markets are two of the most discussed prediction market platforms in the US. Here's a side-by-side look at how they compare on the factors that actually matter for traders.

Editorial disclosure. HunchMarkets may earn a commission when readers sign up via our links. Our rankings, ratings and methodology are decided independently of commercial relationships.

Kalshi

4.7/5

The first CFTC-regulated event contract exchange in the United States.

Regulated US event contracts CFTC-regulated

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Fanatics Markets

3.9/5

Emerging Fanatics-branded event contract product.

Sports-first US users CFTC-regulated (exchange partner)

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Rating

Kalshi

4.7

Fanatics Markets

3.9

Best for

Kalshi

Regulated US event contracts

Fanatics Markets

Sports-first US users

Regulation

Kalshi

CFTC-regulated

Fanatics Markets

CFTC-regulated (exchange partner)

US availability

Kalshi

Available

Fanatics Markets

Available

Fees

Kalshi

Up to 2% per trade

Fanatics Markets

Low per-contract fees

Mobile

Kalshi

Excellent

Fanatics Markets

Good

Markets

Kalshi

Politics, Economy, Sports, Weather, Culture, AI, Financial events

Fanatics Markets

Sports

Payment

Kalshi

ACH, Debit card, Wire transfer

Fanatics Markets

Founded

Kalshi

2018

Fanatics Markets

Category	Kalshi	Fanatics Markets
Rating	4.7	3.9
Best for	Regulated US event contracts	Sports-first US users
Regulation	CFTC-regulated	CFTC-regulated (exchange partner)
US availability	Available	Available
Fees	Up to 2% per trade	Low per-contract fees
Mobile	Excellent	Good
Markets	Politics, Economy, Sports, Weather, Culture, AI, Financial events	Sports
Payment	ACH, Debit card, Wire transfer
Founded	2018

Verdicts

Who wins, category by category

Best overall

Kalshi

Higher composite rating across our methodology.

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Best for beginners

Kalshi

Cleaner onboarding and a more polished consumer experience.

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Best for regulation

Kalshi

Operates as a CFTC-designated contract market.

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Best for liquidity

Kalshi

Deepest order books on headline markets.

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Best for market variety

Kalshi

Wider catalogue of available event contracts.

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Final take

Should you choose Kalshi or Fanatics Markets?

Kalshi comes out narrowly ahead in our methodology, but both platforms have a clear lane. Choose Kalshi for regulated us event contracts, and Fanatics Markets for sports-first us users.

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Risk warning. Event contracts are financial instruments. You can lose your full premium. Trade only where legally permitted in your jurisdiction. This is not investment, legal or tax advice.