Kalshi vs PredictIt
Published 2026-08-07 · Last reviewed 2026-08-07
TL;DR
- Kalshi: The CFTC-regulated exchange — the safest on-ramp for US traders.
- PredictIt: The academic-era politics market — historic, and heavily capped.
- For college markets specifically, Kalshi is the one most readers should open first — us traders who want a regulated venue and a real mobile app.
| KalshiGet $10! | PredictIt | |
|---|---|---|
| Regulation | CFTC-regulated designated contract market (DCM) | Operates under a CFTC no-action framework |
| Trading fees | ≈1–7% per trade (0.07 × contracts × price × (1 − price)); 0% at settlement | 10% on profits, 5% on withdrawals |
| College markets | College football, March Madness, Heisman, admissions-adjacent policy markets | Essentially none — politics-focused |
| Apps | Web, iOS, Android | Web only |
| Deposit methods | ACH, debit card, wire ($10), crypto | Card, ACH |
| Minimum deposit | $1 | $10 |
| Withdrawals | ACH free, 1–3 business days; wire $30 | Up to a week; 5% fee |
| US availability | Available in most US states and DC | Nationwide, with per-market position caps |
| Best for | US traders who want a regulated venue and a real mobile app | Political forecasting hobbyists |
| Watch out for | Fees peak near 50¢ — the closer to a coin flip, the more you pay | Position caps and profit fees make it the most expensive option here |
| Sign up | Open Kalshi | No offer tracked |
Fees: what a round trip actually costs
Kalshi charges ≈1–7% per trade (0.07 × contracts × price × (1 − price)); 0% at settlement. PredictIt charges 10% on profits, 5% on withdrawals. Headline rates mislead on small balances: on a $20 stake, a deposit or withdrawal fee usually outweighs the per-trade commission, so count the whole round trip before deciding.
College market depth
Kalshi lists college football, march madness, heisman, admissions-adjacent policy markets. PredictIt lists essentially none — politics-focused. If you are here for college football or March Madness, depth matters more than a few basis points of fee difference — a market that does not exist cannot be traded at any price.
Access and apps
Kalshi runs on web, ios, android and is available in most us states and dc. PredictIt runs on web only and is nationwide, with per-market position caps.
The verdict
Pick Kalshi if: us traders who want a regulated venue and a real mobile app. Pick PredictIt if: political forecasting hobbyists. The honest answer for most students is to open the one that lists the markets you actually want and keep the other as a price check.
Frequently asked questions
Is Kalshi or PredictIt cheaper?
Kalshi: ≈1–7% per trade (0.07 × contracts × price × (1 − price)); 0% at settlement. PredictIt: 10% on profits, 5% on withdrawals. Compare on total round-trip cost — deposit fee, trading fee, and withdrawal fee together — not the headline rate.
Which has more college markets, Kalshi or PredictIt?
Kalshi lists college football, march madness, heisman, admissions-adjacent policy markets. PredictIt lists essentially none — politics-focused.
Can I use both Kalshi and PredictIt?
Yes. Many traders keep accounts on both and route each trade to whichever venue prices that market better. Nothing stops you from claiming both sign-up offers if you qualify in your state.
Is Kalshi legal in my state?
Available in most US states and DC. PredictIt: nationwide, with per-market position caps. Check the state pages on this site for the current list before depositing.
Sources & further reading
- CFTC — Designated Contract Markets (DCMs)U.S. Commodity Futures Trading Commission
- Kalshi Rulebook and exchange rulesKalshi (KalshiEX LLC)
- Polymarket Terms of Use — eligibility and restrictionsPolymarket
Related
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