Three-way comparison · updated July 2026
Kalshi vs Polymarket vs PredictIt
The three most-searched prediction market brands on the internet, compared head-to-head on the four things US traders actually need to know: regulation, US availability, fees and liquidity.
Kalshi
Best all-round choice for US traders.
- US access
- Available in the US
- Fees
- ~1–2% per contract
- Liquidity
- Deep on politics, macro, weather, sports
Polymarket
The largest book internationally — US posture is a moving target and covered as verification-in-progress.
- US access
- International product geoblocks US; separate US product emerging (verify)
- Fees
- No explicit fee; on-chain spread
- Liquidity
- Deepest globally on headline markets
PredictIt
The original US political prediction market — narrow but iconic.
- US access
- Available in the US (research exemption)
- Fees
- 10% of profits + 5% withdrawal fee
- Liquidity
- Limited by 850-trader / $850 caps
Regulation
- Kalshi
- CFTC-regulated (DCM)
- Polymarket
- International/onchain today; US-facing variant under CFTC-registered infrastructure (in verification)
- PredictIt
- CFTC no-action letter (Victoria University of Wellington)
US availability
- Kalshi
- Available in the US
- Polymarket
- International product geoblocks US; separate US product emerging (verify)
- PredictIt
- Available in the US (research exemption)
Fees
- Kalshi
- ~1–2% per contract
- Polymarket
- No explicit fee; on-chain spread
- PredictIt
- 10% of profits + 5% withdrawal fee
Liquidity
- Kalshi
- Deep on politics, macro, weather, sports
- Polymarket
- Deepest globally on headline markets
- PredictIt
- Limited by 850-trader / $850 caps
Markets
- Kalshi
- Politics, economy, weather, sports, culture, crypto, AI
- Polymarket
- Politics, crypto, culture, sports, AI, world events
- PredictIt
- US and international politics
Funding
- Kalshi
- ACH, wire, debit card
- Polymarket
- USDC on Polygon (self-custody wallet)
- PredictIt
- Debit card, wire
Trading limits
- Kalshi
- Standard KYC; no cap for retail
- Polymarket
- No stated limits on the international product; US-facing product scope TBD
- PredictIt
- 850 traders per market; $850 max position per contract
Regulation
The single biggest differentiator
Kalshi is a full CFTC-designated contract market — the same regulatory tier as CME or ICE Futures US. PredictIt operates under a narrow no-action letter granted to Victoria University of Wellington for academic research, with hard trader and position caps as conditions of that exemption. Polymarket settled with the CFTC in 2022 and now operates offshore, geoblocking US IPs. For a US resident, the practical set is Kalshi and PredictIt only.
Fees
What each dollar of edge actually costs you
Kalshi charges a per-contract fee that scales with contract price and typically works out to less than 2% of notional — often under 1% on higher-priced contracts. PredictIt takes a flat 10% of net profits plus a 5% withdrawal fee, which is a materially heavier drag if you're active. Polymarket has no explicit fee but pricing bakes in an on-chain spread and gas costs on Polygon; irrelevant to US residents in practice.
Liquidity
Where you can actually get filled
Polymarket has the deepest global order books — the 2024 US election settled hundreds of millions of dollars of volume there. But if you're in the US, that liquidity is unreachable. Kalshi has become the deepest US-legal book on politics, macro data and weather markets and is quickly closing the gap on sports and culture. PredictIt is structurally shallow because of the 850-trader-per-market and $850-per-position rules — fine for a small directional bet, painful for anything larger.
Verdict
Which should you actually use?
- Most US traders: Kalshi. Regulated, liquid, low fees, standard funding, best mobile app.
- US traders who want political-only markets and don't mind the caps: PredictIt, as a complement to Kalshi rather than a replacement.
- Non-US traders (or those researching offshore markets): Polymarket has the deepest book and widest catalogue, but only if you can legally use it.
FAQ
Kalshi vs Polymarket vs PredictIt: FAQ
Which of these is legal in the United States?+
Kalshi is a CFTC-regulated Designated Contract Market and is available to US residents in most states, subject to state-level actions on sports contracts. PredictIt operates under a specific CFTC framework as an academic research project and remains accessible while its legal status is litigated. The original international/onchain Polymarket product is not offered to US residents and geoblocks US traffic; a separate US-facing Polymarket product has been announced under acquired CFTC-registered infrastructure — treat any US-Polymarket claim as verification-in-progress.
Which platform has the lowest fees?+
Kalshi charges a per-contract trading fee that in practice sits well under 2% of notional. PredictIt takes a 10% cut of net profits on winning positions plus a 5% withdrawal fee. Polymarket's international product charges no explicit trading fee but pricing includes an on-chain spread. For pure fee economics on US-legal venues, Kalshi wins comfortably.
Which platform has the most liquidity?+
Polymarket's international product has the deepest global order books on headline political and cultural markets — but that liquidity is not directly accessible to US residents on the geoblocked product. Among US-legal options, Kalshi has by far the deepest and most consistent order books; PredictIt liquidity is limited by an 850-trader cap per market and a $850 position limit.
Can I trade elections on all three?+
PredictIt is essentially built around political markets. Kalshi lists a growing catalogue of US and international political event contracts. Polymarket has the widest political catalogue globally but is not accessible to US residents.
Which is best for beginners?+
Kalshi. It has the most polished mobile app, a proper onboarding flow, ACH funding and standard US brokerage-style account management. PredictIt's interface is functional but dated; Polymarket requires a self-custody crypto wallet and USDC on Polygon.
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