Comparison · updated July 2026
Manifold Markets vs Kalshi
Manifold Markets and Kalshi 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.
Manifold Markets
Play-money prediction market platform with real communities and calibration data.
Kalshi
The first CFTC-regulated event contract exchange in the United States.
Rating
Manifold Markets
4.3
Kalshi
4.7
Best for
Manifold Markets
Forecasters and researchers
Kalshi
Regulated US event contracts
Regulation
Manifold Markets
Play-money / sweepstakes
Kalshi
CFTC-regulated
US availability
Manifold Markets
Available
Kalshi
Available
Fees
Manifold Markets
Free (play-money)
Kalshi
Up to 2% per trade
Mobile
Manifold Markets
Good
Kalshi
Excellent
Markets
Manifold Markets
Politics, AI, Culture, Sports, Economy
Kalshi
Politics, Economy, Sports, Weather, Culture, AI, Financial events
Payment
Manifold Markets
Kalshi
ACH, Debit card, Wire transfer
Founded
Manifold Markets
Kalshi
2018
Verdicts
Who wins, category by category
Final take
Should you choose Manifold Markets or Kalshi?
Kalshi comes out narrowly ahead in our methodology, but both platforms have a clear lane. Choose Manifold Markets for forecasters and researchers, and Kalshi for regulated us event contracts.