Kalshi vs Rebet
Published 2026-08-07 · Last reviewed 2026-09-18
TL;DR
- Kalshi: The CFTC-regulated exchange — the safest on-ramp for US traders.
- Rebet: Mobile-first social app — peer-to-peer picks with a friends layer.
- 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.
| KalshiTrade $25 and Get $25! | Rebet100% purchase match up to $100! | |
|---|---|---|
| Regulation | CFTC-regulated designated contract market (DCM) | Sweepstakes/social model; not a CFTC exchange |
| Trading fees | ≈1–7% per trade (0.07 × contracts × price × (1 − price)); 0% at settlement | No per-trade commission; house margin is built into the lines |
| College markets | College football, March Madness, Heisman, admissions-adjacent policy markets | College football and basketball game lines and props |
| Apps | Web, iOS, Android | iOS, Android (mobile only) |
| Deposit methods | ACH, debit card, wire ($10), crypto | Card, Apple Pay, bank |
| Minimum deposit | $1 | $10 |
| Withdrawals | ACH free, 1–3 business days; wire $30 | 1–5 business days depending on method |
| US availability | 47 states + D.C. — Michigan, Nevada and Washington excluded | 47 states + D.C. — Michigan, Nevada and Washington excluded |
| Best for | US traders who want a regulated venue and a real mobile app | Students who want a social, game-shaped experience on a phone |
| Watch out for | Fees peak near 50¢ — the closer to a coin flip, the more you pay | Not an exchange — you are not trading against an order book |
| Sign up | Open Kalshi | Open Rebet |
Fees: what a round trip actually costs
Kalshi charges ≈1–7% per trade (0.07 × contracts × price × (1 − price)); 0% at settlement. Rebet charges no per-trade commission; house margin is built into the lines. 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. Rebet lists college football and basketball game lines and props. 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 47 states + d.c. — michigan, nevada and washington excluded. Rebet runs on ios, android (mobile only) and is 47 states + d.c. — michigan, nevada and washington excluded.
The verdict
Pick Kalshi if: us traders who want a regulated venue and a real mobile app. Pick Rebet if: students who want a social, game-shaped experience on a phone. 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 Rebet cheaper?
Kalshi: ≈1–7% per trade (0.07 × contracts × price × (1 − price)); 0% at settlement. Rebet: No per-trade commission; house margin is built into the lines. 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 Rebet?
Kalshi lists college football, march madness, heisman, admissions-adjacent policy markets. Rebet lists college football and basketball game lines and props.
Can I use both Kalshi and Rebet?
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?
47 states + D.C. — Michigan, Nevada and Washington excluded. Rebet: 47 states + d.c. — michigan, nevada and washington excluded. 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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