Live kalshi fees Market Prices

Kalshi runs event-contract markets where each contract trades between 1 cent and 99 cents and settles at either 100 cents (yes) or 0 cents (no). Its trading costs are generally low, but they do not work like a flat commission: what you pay depends heavily on the price of the contract you trade. This guide explains how Kalshi's 2026 fee structure works in plain language, walks through worked examples, and compares it with Polymarket. One headline worth knowing up front: on Kalshi you are charged only when you trade, never when a contract resolves, and there is no monthly or membership fee.

A note on sourcing before we start. Kalshi's authoritative schedule is a PDF titled "Fee Schedule for July 2026" (with a 7 July 2026 update) hosted on Kalshi's own site. Because that document is revised periodically, every figure below should be treated as point-in-time. Where a number is exact per the published formula we say so; where it is drawn from third-party trackers or could not be confirmed against the live PDF, we flag it as approximate. Always verify the current PDF before relying on any specific rate.

How Kalshi's trading fees work

Kalshi's standard trading fee is calculated per order using a probability-weighted formula rather than a fixed percentage. For a taker order (one that fills immediately against a resting order), the fee is:

• Taker fee = roundup(0.07 × C × P × (1 − P)), where C is the number of contracts and P is the contract price in dollars (between 0.01 and 0.99).

The 0.07 coefficient is exact per Kalshi's published schedule. The fee is rounded up to the next whole cent per order, which means very small orders cost slightly more per contract than the raw formula suggests, while larger orders spread that rounding out. For example, one contract at a price of 0.50 works out to 0.07 × 1 × 0.50 × 0.50 = $0.0175, rounded up to $0.02; buying 100 contracts at 0.50 costs about $1.75 in total.

Maker orders (resting limit orders that add liquidity) are treated more favorably. Where a maker fee applies, it is widely cited at roughly a quarter of the taker fee, using a coefficient of about 0.0175 — that is, roundup(0.0175 × C × P × (1 − P)). At a price of 0.50 that is around $0.004375 per contract. An important caveat: maker fees are not charged on every market. Kalshi's schedule indicates they apply only to certain markets or series, and many general markets have free makers. Treat the 0.0175 maker coefficient, and exactly which markets it applies to, as approximate and not fully confirmed against the live PDF.

Why fees are highest near 50/50

The reason the fee rises and falls with price is the P × (1 − P) term. That expression is the variance of a yes/no outcome, and it is at its maximum when P = 0.50. So the taker fee peaks at about $0.0175 per contract for a 50-cent contract and shrinks steadily as the price moves toward either extreme. At 10 cents or 90 cents it falls to 0.07 × 0.10 × 0.90 = about $0.0063 per contract, and near 1 cent or 99 cents it approaches zero. This behavior follows directly from the formula and is exact. The practical effect: cheap longshots and near-certain contracts are proportionally cheaper to trade, and the design stops a fixed per-contract fee from becoming punishing at price extremes. Because the formula also yields $0 at a price of 1.00 or 0.00, there is effectively no charge at resolution.

Worked examples of Kalshi trading fees

The table below applies the standard taker formula at several price points. Per-contract figures are exact from the formula before rounding; the 100-contract totals apply the per-order round-up. Treat these as approximate illustrations of the general schedule — specific markets may differ (see special markets below).

Contract price	Raw taker fee per contract (approx.)	Taker fee on 100 contracts (approx.)	Rounded fee on a 1-contract order
5¢	~$0.0033	~$0.34	$0.01
10¢	~$0.0063	~$0.63	$0.01
25¢	~$0.0131	~$1.32	$0.02
50¢	~$0.0175 (peak)	~$1.75	$0.02
75¢	~$0.0131	~$1.32	$0.02
90¢	~$0.0063	~$0.63	$0.01
95¢	~$0.0033	~$0.34	$0.01

You may see simplified tables elsewhere that quote a flat "$0.01 for cheap or expensive contracts, $0.02 in the middle" (one tracker lists $0.01 for prices of $0.01–$0.19 and $0.85–$0.99, and $0.02 for $0.20–$0.84). That is not a separate schedule — it is the same 0.07 formula after the per-order round-up on a single contract. Treat those as approximate single-contract illustrations.

Special markets

Some markets carry customized fee schedules that differ from the general 0.07 table. Kalshi's help center notes this often happens for special events such as elections, awards ceremonies, or major sporting championships. Search snippets specifically flag index-range series (for example, S&P 500 and Nasdaq-100 markets) as having their own schedules, and describe some premium categories such as crypto as using a higher coefficient than 0.07. The existence of these special schedules is confirmed, but the exact per-series rates live in the PDF and should be treated as unverified here — check the schedule for the specific market you plan to trade.

Deposit & withdrawal fees

Kalshi supports several funding rails, and the cost depends on which you use.

• ACH bank transfer: free for both deposits and withdrawals ($0).
• Wire transfer: Kalshi charges $0, but your own bank often charges a wire fee. (One third-party snippet suggested wire withdrawals may be reserved for very large transactions — reportedly not supported under $500,000 — but this is a single low-confidence data point that you should verify directly with Kalshi.)
• Debit card: deposits carry a 2% fee; withdrawals carry a fixed $2 fee.
• Crypto: Kalshi does not charge its own fee, but third-party payment-processor and blockchain network fees may apply and are disclosed before you confirm the transaction.

For most US bank users, the ACH rails in and out are effectively free, so the main way to incur a funding cost is to use a debit card.

Kalshi fees vs Polymarket

Polymarket long marketed itself as having no trading fees, but as of 2026 third-party trackers report it has introduced category-based taker fees while keeping maker fees at $0. Reported taker caps are roughly $1.00 per 100 shares (about $0.01 per contract) for politics, finance, tech and mentions; about $1.25 per 100 (about $0.0125) for sports, economics, culture and weather; and about $1.75 per 100 (about $0.0175) for crypto, with geopolitical or world markets fee-free. Makers reportedly pay $0 and can earn rebates (cited around 25% of fees generally, 20% on crypto, 15% on sports). These Polymarket figures come from aggregators rather than a direct read of Polymarket's docs, so treat them as approximate.

The structural difference matters more than any single number. Kalshi's fee is a price-dependent bell curve that peaks around $0.0175 per contract at 50 cents and decays toward the extremes, whereas Polymarket's is a roughly flat per-category cap. At a 50-cent price in a politics market, Polymarket at about $0.0100 per contract looks roughly 43% cheaper than Kalshi's peak of about $0.0175. But Polymarket's crypto cap (about $0.0175) matches Kalshi's peak, and Kalshi tends to be cheaper at price extremes, where its fee decays toward zero while a flat cap does not. In short, neither is universally cheaper — it depends on the category and how far the price sits from 50/50.

On funding, the two are built differently. Kalshi uses fiat rails (ACH, wire, debit, crypto), with ACH free and debit costing 2% in / $2 out. Polymarket is crypto-native, settling in USDC on Polygon, and reportedly charges no platform deposit or withdrawal fee — you pay only blockchain gas, which is under about $0.01 on Polygon but can run $1–$20 or more if you bridge to Ethereum during congestion. For a US bank user, Kalshi ACH is effectively free; for a crypto user, Polymarket avoids card fees but exposes you to gas and bridging costs.

How to minimize Kalshi fees

• Fund with ACH, not a debit card. ACH is free both ways; debit costs 2% to deposit and $2 to withdraw.
• Use resting limit (maker) orders where maker fees are free or reduced. Where a maker fee applies it is roughly a quarter of the taker fee, and many general markets charge makers nothing — but confirm the specific market first.
• Be aware of price when sizing trades. Fees peak near 50 cents and shrink toward the extremes, so mid-price contracts cost the most to trade per contract.
• Batch into larger orders. Because the fee rounds up per order, larger orders spread the rounding out and cost slightly less per contract than many tiny orders.
• Check for special schedules. Index-range, election, awards and championship markets (and some premium categories such as crypto) may use different, sometimes higher, rates — read the schedule before trading them.

FAQ

Does Kalshi charge a fee when my contract settles?

No. You pay fees only when you trade. Both winning and losing positions pay $0 at settlement, and the formula itself yields $0 at a price of 1.00 or 0.00.

Is there a monthly or membership fee?

No. Kalshi has no monthly or account membership fee; costs are limited to trading fees and any debit-card or bank charges on funding.

What is the most I will pay per contract to trade?

Under the standard schedule the taker fee peaks at about $0.0175 per contract at a 50-cent price and is lower everywhere else. Special markets may use higher coefficients, so this is not a universal cap.

What is the difference between maker and taker fees?

Takers remove liquidity and pay the full fee (coefficient 0.07). Makers rest limit orders that add liquidity and, where a maker fee applies, pay roughly a quarter as much (coefficient about 0.0175, approximate) — and many markets charge makers nothing.

Is Kalshi cheaper than Polymarket?

It depends. Polymarket can be cheaper for mid-priced contracts in low-fee categories like politics, while Kalshi can be cheaper at price extremes. Compare the specific category and price rather than assuming one is always lower.

Disclaimer: This page is for general informational purposes only and is not financial, legal, tax, or betting advice. Fee figures are point-in-time and several are approximate or unconfirmed against the live schedule. Kalshi revises its fee PDF periodically — always verify current details on Kalshi's official fee schedule before trading.

Sources

• Kalshi official Fee Schedule PDF (July 2026, 7.7.26 update) — source of truth
• Kalshi fee schedule page
• Kalshi Help Center — Fees
• MarketMath — Kalshi fees guide (2026)
• Whirligigbear — Maker/taker math on Kalshi
• Next.io — Kalshi fees
• Dimers — Kalshi fees
• StartPolymarket — Polymarket fees
• Polymarket docs — Trading fees
• Laika Labs — Kalshi vs Polymarket fees comparison

Polymarket guide — from sign-up to your first trade on PolyGram

Getting started on Polymarket via PolyGram takes under ten minutes. Sign up, fund your account, choose a market, place an order — this page walks through each step with specific timing, costs and what to expect at each stage for new users.

Step 1 — Create an account

Open PolyGram through Telegram or in a browser. Register via email OTP or one-tap Telegram login. A derived Polygon wallet is automatically assigned; the private key is never stored in plaintext.

Step 2 — Fund it

Find your personal Polygon deposit address in the wallet area. Send USDC on Polygon from an exchange (Coinbase, Kraken, Gemini), an existing wallet, or a fiat card on-ramp. After 12 confirmations the balance credits to your trading account.

Step 3 — Pick a market

Browse categories: politics, crypto, sports, pop culture, tech, business, world. Tap a market to see its order book and price history. Price in cents equals implied probability.

Step 4 — Place the order

Select size and side (YES / NO), set a limit price or market-take. Confirm — the order routes into the Polymarket CLOB. Fill confirmation in 2-5 seconds.

Step 5 — Settlement

When the market resolves via oracle, winnings land in your USDC balance automatically. Withdraw to an external address or keep for the next trade.