Polymarket vs Kalshi

The two biggest prediction market platforms compared — March 2026 edition.

FeaturePolymarketKalshi
TypeCrypto-based (USDC)US-regulated exchange
RegistrationCrypto wallet requiredEmail + KYC verification
Minimum depositNo minimum (gas fees apply)$1 minimum
Trading fees0% maker, ~2% taker0% maker, ~7% taker (varies)
MarketsPolitics, crypto, sports, world eventsPolitics, economics, weather, sports, culture
Monthly volume (2026)~$2.7 billion~$8.5 billion
US availabilityRestricted (VPN needed)Fully legal, CFTC-regulated
Cash settlementUSDC (crypto)USD (bank transfer)
Interest on depositsNo~4% APY
Paper tradingVia PolySimulator (free)Via PolySimulator (free)
Mobile appWeb onlyiOS + Android
API accessCLOB API (free)REST API (free)

Choose Polymarket if...

  • You're comfortable with crypto/USDC
  • You want lower trading fees (0% maker)
  • You're outside the US
  • You want the deepest liquidity on political markets

Choose Kalshi if...

  • You're in the US and want regulated trading
  • You prefer USD bank transfers over crypto
  • You want interest on your deposit (~4% APY)
  • You want a native mobile app

Not sure? Practice first — free.

PolySimulator lets you paper trade both Polymarket and Kalshi markets with $1,000 virtual balance. Zero risk.

Start Paper Trading