Kalshi vs Polymarket: fees, payments, markets and state restrictions compared
By Alexander Burnett (editor) Last updated Data read by our script
How we got this
How: Read by our script on 15 October 2026 from Kalshi's and Polymarket US's own help, fee and docs pages, the CFTC's records and official state pages; a claim is shown only if its exact words are in the page text we saved. How we checkHow we make moneyCorrections
Both are exchanges designated by the US Commodity Futures Trading Commission (CFTC): Kalshi since 3 Nov 2020, Polymarket US since 9 Jul 2025. On 15 October 2026, neither listed US states it leaves out on the pages we could read. On our list of official actions, 13 states have acted against Kalshi (court orders in Nevada and Washington) and 7 against Polymarket US (a court order in Nevada); 7 have acted against both.
Side by side
| Kalshi | Polymarket US | |
|---|---|---|
| Regulator | CFTC designated contract market (KalshiEX LLC), designated 3 Nov 2020 | CFTC designated contract market (QCX LLC, trading as Polymarket US), designated 9 Jul 2025 |
| Minimum age | 18 | Not stated on the pages we read |
| Markets | Weather, crypto, sports, entertainment and more Elections and economics, among others | Sports, politics, crypto, weather, tech, culture and economics |
| Trading fee | A transaction fee on the expected earnings of each contract; rates vary by market and some markets also charge maker fees | Taker fee = 0.0695 × contracts × price × (1 − price): at most about 1.74 cents a contract at 50¢. Makers get a rebate (−0.0125) |
| Deposit fees | Bank transfer deposits: no fee Wire deposits: no fee Debit card deposits: up to 2% | Not stated on the pages we read |
| Withdrawal fees | Free to bank, debit card and crypto Debit card withdrawals: no fee Crypto withdrawals: no fee | Not stated on the pages we read |
| Deposit methods | Debit card (incl. Apple Pay, Google Pay), bank transfer (ACH), PayPal, Venmo, Cash App, crypto, wire | Debit card, bank transfer (ACH), Apple Pay (iPhone), PayPal, Venmo, USDC (iPhone, where available), wire |
| Deposit minimums and limits | $10 ($1,000 by wire) | Wire: $5,000 minimum. Debit card and ACH: $50,000 a day maximum |
| Withdrawals | Bank transfer (US only), debit card, crypto | Back to the same method you deposited with, oldest deposit first |
| Withdrawal time | Debit card usually instant; bank a few business days; crypto within about 30 minutes Bank: a few business days Crypto: about 30 minutes | Deposits must clear first: 3–4 business days for card and ACH, 1 business day for wire |
| States acting against it | 13: Connecticut, Illinois, Maryland, Michigan, Missouri, New Jersey, Nevada, New York, Ohio, Rhode Island, Tennessee, Washington and Wisconsin | 7: Connecticut, Illinois, Missouri, Nevada, New York, Rhode Island and Wisconsin |
13 US states have taken action against Kalshi and 7 against Polymarket US, according to TradingLookup's Prediction Market Checker (October 2026).
The differences that matter, from their own pages
- Paying in: Kalshi: $10 ($1,000 by wire). Polymarket US: Wire: $5,000 minimum. Debit card and ACH: $50,000 a day maximum.
- Taking money out: Kalshi: Bank transfer (US only), debit card, crypto. Polymarket US: Back to the same method you deposited with, oldest deposit first.
- Trading fees: Kalshi: A transaction fee on the expected earnings of each contract; rates vary by market and some markets also charge maker fees. Polymarket US: Taker fee = 0.0695 × contracts × price × (1 − price): at most about 1.74 cents a contract at 50¢. Makers get a rebate (−0.0125).
- Markets: Kalshi: Weather, crypto, sports, entertainment and more. Polymarket US: Sports, politics, crypto, weather, tech, culture and economics.
- States: courts in Nevada and Washington have limited Kalshi, and a court in Nevada has limited Polymarket US. 7 states have acted against both: Connecticut, Illinois, Missouri, Nevada, New York, Rhode Island and Wisconsin.
State by state
| State | Kalshi | Polymarket US |
|---|---|---|
| Connecticut | Lawsuit | Cease-and-desist |
| Illinois | Cease-and-desist | Cease-and-desist |
| Maryland | Cease-and-desist | none on our list |
| Michigan | Lawsuit | none on our list |
| Missouri | Cease-and-desist | Cease-and-desist |
| Nevada | Court order | Court order |
| New Jersey | Cease-and-desist | none on our list |
| New York | Lawsuit | Lawsuit |
| Ohio | Appeal ruling Appeal ruling | none on our list |
| Rhode Island | Lawsuit | Lawsuit |
| Tennessee | Appeal ruling | none on our list |
| Washington | Court order | none on our list |
| Wisconsin | Lawsuit | Lawsuit |
Receipts
Kalshi
- CFTC designated contract market (KalshiEX LLC), designated 3 Nov 2020
Organization: Kalshi … Status: Designated … Date: 2020-11-03
- Minimum age: 18
Be 18 years or older
- Weather, crypto, sports, entertainment and more
Weather, crypto, sports, entertainment, and more
- Elections and economics, among others
Kalshi gives users the ability to engage with these outcomes through a trading lens, including: Elections
- A transaction fee on the expected earnings of each contract; rates vary by market and some markets also charge maker fees
Kalshi makes money by charging a transaction fee on the expected earnings on the contract. … In some cases, markets will have maker fees associated with them.
- Bank transfer deposits: no fee
No fees for bank deposits.
- Wire deposits: no fee
No fees for wire deposits.
- Debit card deposits: up to 2%
Debit deposits may incur a 2% processing fee
- Free to bank, debit card and crypto
No fees for bank withdrawals.
- Debit card withdrawals: no fee
No fees for debit card withdrawals.
- Crypto withdrawals: no fee
No fees for crypto withdrawals.
- Debit card (incl. Apple Pay, Google Pay), bank transfer (ACH), PayPal, Venmo, Cash App, crypto, wire
Debit card (including Apple Pay and Google Pay) … Bank transfer (ACH) … PayPal … Venmo … Cash App (deposits only) … Crypto … Wire transfer
- $10 ($1,000 by wire)
The minimum deposit amount on Kalshi is $10 (except wire transfers, which have a $1,000 minimum)
- Bank transfer (US only), debit card, crypto
Bank withdrawals are available for US users only
- Debit card usually instant; bank a few business days; crypto within about 30 minutes
Debit withdrawals are normally instant
- Bank: a few business days
Funds typically arrive in your bank account within a few business days.
- Crypto: about 30 minutes
Funds typically arrive in your wallet within 30 minutes
Polymarket US
- CFTC designated contract market (QCX LLC, trading as Polymarket US), designated 9 Jul 2025
Organization: QCX LLC d/b/a Polymarket US … Status: Designated … Date: 2025-07-09
- Sports, politics, crypto, weather, tech, culture and economics
Home Sports Politics Crypto Weather Tech Culture Econ
- Taker fee = 0.0695 × contracts × price × (1 − price): at most about 1.74 cents a contract at 50¢. Makers get a rebate (−0.0125)
Fee = Θ × C × p × (1 - p) … Taker Fee 0.0695 $1.74 … Maker Rebate -0.0125
- Debit card, bank transfer (ACH), Apple Pay (iPhone), PayPal, Venmo, USDC (iPhone, where available), wire
You can fund your Polymarket account in the app using: Debit card Bank transfer (ACH) Apple Pay (iPhone) PayPal Venmo USDC (iPhone, where available) Wire transfer
- Wire: $5,000 minimum. Debit card and ACH: $50,000 a day maximum
Debit Card $50,000 3-4 business days … Bank Transfer (ACH) $50,000 3-4 business days … Wire Transfer $5,000 minimum, no max
- Back to the same method you deposited with, oldest deposit first
All withdrawals must return to the same payment method used for deposit. … Withdrawals are processed in the order deposits were made
- Deposits must clear first: 3–4 business days for card and ACH, 1 business day for wire
Debit Card 3-4 business days Funds must fully clear before withdrawal … Wire Transfer 1 business day
Cite this: TradingLookup (2026). Prediction Market Checker, v0.1.0, data as of 15 October 2026. https://tradinglookup.com/prediction-markets/kalshi-vs-polymarket/. Licence: CC BY 4.0.