Disclosure: PredScope may receive compensation when you sign up for prediction market platforms through links on this site. This does not influence our ratings or reviews. Learn more.
Kalshi Fees Explained: Complete 2026 Breakdown
Updated March 2026 — Everything you need to know about Kalshi's fee structure, from trading costs to deposit and withdrawal fees, plus how to minimize what you pay.
Quick Summary: Kalshi Fees at a Glance
- Trading fee: 2 cents per contract (both maker and taker)
- Deposit fee: Free (ACH bank transfer)
- Withdrawal fee: Free (ACH bank transfer)
- Settlement fee: None (contracts settle at $1 or $0)
- Account fee: None (no monthly or maintenance fees)
- Minimum deposit: No minimum
Kalshi is a CFTC-regulated prediction market exchange that lets you trade on the outcomes of real-world events. Unlike traditional brokers that charge percentage-based commissions, Kalshi uses a simple flat-fee model: 2 cents per contract on every trade.
In this guide, we break down every fee Kalshi charges (and doesn't charge), compare costs with competitors like Polymarket and Robinhood, and share practical tips to minimize your trading costs.
Table of Contents
Kalshi Fee Structure Overview
Kalshi keeps its fee structure straightforward. Unlike some platforms that charge different rates depending on whether you win or lose, Kalshi charges a flat fee at the time of each trade. Here is a complete breakdown of every fee type:
| Fee Type | Cost | When Charged |
|---|---|---|
| Trading fee (buy) | $0.02 per contract | When you buy contracts |
| Trading fee (sell) | $0.02 per contract | When you sell contracts before settlement |
| ACH deposit | Free | When funding your account |
| Debit card deposit | Small processing fee | When funding via debit card |
| ACH withdrawal | Free | When cashing out |
| Wire withdrawal | $5.00 | For expedited wire transfers |
| Settlement | Free | When contracts resolve |
| Account maintenance | Free | Never |
| Inactivity fee | Free | Never |
The simplicity of this model is one of Kalshi's strengths. You always know exactly what a trade will cost you: 2 cents times the number of contracts.
Trading Fees: How Kalshi's 2-Cent Fee Works
Every time you buy or sell a contract on Kalshi, you pay a flat fee of $0.02 (2 cents) per contract. This applies equally to:
- Maker orders (limit orders that add liquidity to the order book)
- Taker orders (market orders that remove liquidity)
- Buy orders (opening a position)
- Sell orders (closing a position before settlement)
How Kalshi Contracts Work
On Kalshi, each contract is a binary event that settles at either $1.00 (if the event happens) or $0.00 (if it doesn't). You buy contracts at a price between $0.01 and $0.99, which represents the market's implied probability.
Contract cost: 50 × $0.65 = $32.50
Trading fee: 50 × $0.02 = $1.00
Total cost: $33.50
If you win: 50 × $1.00 = $50.00 payout
Net profit: $50.00 - $33.50 = +$16.50
If you lose: 50 × $0.00 = $0.00 payout
Net loss: $0.00 - $33.50 = -$33.50
Fee as a Percentage of Trade
While the 2-cent fee is flat, its impact as a percentage varies depending on the contract price. Here is how the effective fee rate changes:
| Contract Price | Fee per Contract | Effective Fee % | Impact Level |
|---|---|---|---|
| $0.05 (5 cents) | $0.02 | 40% | Very High |
| $0.10 (10 cents) | $0.02 | 20% | High |
| $0.25 (25 cents) | $0.02 | 8% | Moderate |
| $0.50 (50 cents) | $0.02 | 4% | Low |
| $0.75 (75 cents) | $0.02 | 2.7% | Low |
| $0.90 (90 cents) | $0.02 | 2.2% | Low |
| $0.95 (95 cents) | $0.02 | 2.1% | Low |
Key Insight: Avoid Very Cheap Contracts
The 2-cent flat fee hits hardest on low-priced contracts. If you buy a contract at $0.05 (5 cents), the fee alone represents 40% of your investment. For the fee to be reasonable (under 5%), stick to contracts priced above $0.40. This is an important consideration for Kalshi traders who are tempted by "long shot" bets at very low prices.
Round-Trip Trading Costs
If you buy a contract and then sell it before settlement, you pay the trading fee twice — once on entry and once on exit. Combined with the bid-ask spread, this is your total round-trip cost:
Buy fee: $0.02 per contract
Sell fee: $0.02 per contract
Typical spread: $0.03-$0.05
Total round-trip cost: $0.07-$0.09 per contract (~14-18% at $0.50)
By comparison, holding to settlement only costs $0.02 (the entry fee) plus whatever you paid for the contract.
Deposit & Withdrawal Fees
One of Kalshi's big advantages over crypto-based platforms is that it accepts US dollars directly. No need to buy stablecoins or deal with blockchain gas fees.
Deposit Methods & Fees
| Deposit Method | Fee | Speed | Limits |
|---|---|---|---|
| ACH bank transfer | Free | 1-3 business days | Up to $25,000/day |
| Debit card | Small processing fee | Instant | Varies by card |
| Wire transfer | Your bank's wire fee | Same day | Higher limits |
For most traders, ACH is the best option — it is completely free and works with any US bank account. The only downside is it takes 1-3 business days to settle, so plan your deposits ahead of time.
Withdrawal Methods & Fees
| Withdrawal Method | Fee | Speed |
|---|---|---|
| ACH bank transfer | Free | 1-3 business days |
| Wire transfer | $5.00 | Same day |
There is no minimum withdrawal amount and no limit on the number of withdrawals per month. Your funds go directly back to your linked bank account — no crypto wallets, no conversion steps, no gas fees.
Kalshi vs Crypto Platforms: The Deposit Advantage
Unlike Polymarket (which requires USDC on the Polygon blockchain), Kalshi works entirely in US dollars. This means:
- No need to buy USDC or other cryptocurrency
- No blockchain gas fees
- No exchange conversion fees
- Your funds are FDIC-eligible when held in partner banks
- Direct 1099 tax reporting at year-end
Settlement Fees & How Contracts Resolve
Kalshi does not charge a separate settlement fee. When an event's outcome is determined, contracts resolve automatically:
- Winning contracts pay out $1.00 per contract — deposited directly into your Kalshi balance
- Losing contracts pay out $0.00 — you receive nothing, but there is no additional fee
Your profit on a winning trade is simply:
Profit = ($1.00 - Purchase Price) × Number of Contracts - Trading Fee
Example: Buy 100 "Yes" contracts at $0.40 each
Cost: (100 × $0.40) + (100 × $0.02) = $40.00 + $2.00 = $42.00
If Yes wins: 100 × $1.00 = $100.00 payout
Net profit: $100.00 - $42.00 = +$58.00
Example: Buy 100 "No" contracts at $0.60 (equivalent to selling Yes at $0.40)
Cost: (100 × $0.60) + (100 × $0.02) = $60.00 + $2.00 = $62.00
If No wins: 100 × $1.00 = $100.00 payout
Net profit: $100.00 - $62.00 = +$38.00
Historical Context: Kalshi's Previous Fee Structure
Kalshi has changed its fee structure several times since launching. In earlier versions, Kalshi charged a percentage-based fee on profits (ranging from 1% to 7% on winning trades). The current flat 2-cent per contract fee was introduced to make costs more predictable and transparent. This change was generally well-received by traders, as it eliminated the penalty on winning positions.
Kalshi Fees vs Polymarket Fees
Kalshi and Polymarket are the two largest prediction market platforms, but they have very different fee models. Here is a detailed comparison:
| Fee Type | Kalshi | Polymarket |
|---|---|---|
| Trading fee (maker) | $0.02 per contract | 0% (free) |
| Trading fee (taker) | $0.02 per contract | ~0.01% |
| Deposit | Free (ACH) | Free (USDC transfer) |
| Withdrawal | Free (ACH) | Free (gas <$0.01) |
| Settlement/resolution | Free | Free |
| Currency | USD (fiat) | USDC (crypto) |
| Typical bid-ask spread | 3-8 cents | 2-5 cents |
| All-in cost (100 contracts at $0.50) | $2.00 fee + spread | ~$0.03 fee + spread |
| Tax reporting | 1099 form issued | Self-report (crypto) |
| Regulation | CFTC-regulated (US) | Offshore |
Kalshi: 100 × $0.02 = $2.00 in trading fees
Polymarket (taker): 100 × $0.50 × 0.01% = $0.05 in trading fees
On explicit fees alone, Polymarket is significantly cheaper. However, factor in the cost of buying USDC, potential gas fees, and the value of automatic 1099 tax reporting, and the gap narrows for many traders.
When Kalshi Is the Better Value
- You want simple tax reporting — Kalshi issues 1099 forms; Polymarket requires manual crypto tax tracking
- You don't hold crypto — No need to buy USDC or manage wallets
- You value regulatory protection — CFTC oversight provides consumer protections
- You trade in larger sizes — The flat 2-cent fee becomes negligible on higher-priced contracts
When Polymarket Is the Better Value
- You're a high-frequency trader — Near-zero fees add up to significant savings
- You already hold crypto — No conversion costs
- You trade low-priced contracts — The percentage-based fee is much smaller than 2 cents at low prices
- You want access to more markets — Polymarket lists a wider variety of topics
Try Both Platforms
Sign up for Kalshi (regulated, USD deposits) or Polymarket (lowest fees, deepest liquidity).
Sign Up for Kalshi → Try Polymarket →Kalshi Fees vs Robinhood Event Contracts Fees
Robinhood launched event contracts as a way for traders to bet on outcomes like elections, economic data, and other events. Here is how Robinhood's fee structure compares to Kalshi's:
| Feature | Kalshi | Robinhood Event Contracts |
|---|---|---|
| Trading fee | $0.02 per contract | $0 (zero commission) |
| Bid-ask spread | 3-8 cents (varies) | Typically wider |
| Contract range | $0.01 - $0.99 | $0.01 - $0.99 |
| Number of markets | Hundreds of events | Limited selection |
| Market categories | Politics, economics, weather, crypto, sports, culture | Mainly politics and major events |
| Deposit | Free (ACH) | Free |
| Withdrawal | Free (ACH) | Free |
| Regulation | CFTC (as DCM) | CFTC (through Kalshi/CBOE) |
| Tax reporting | 1099 form | 1099 form |
Robinhood's zero-commission model looks cheaper on the surface, but remember that Robinhood earns revenue through payment for order flow (PFOF) and wider bid-ask spreads. In practice, the all-in cost may be similar. Kalshi's advantage is its far larger selection of markets and deeper order books on most event types.
Which Should You Choose?
- Choose Kalshi if you want access to the widest variety of markets, deeper liquidity, and a dedicated prediction market platform.
- Choose Robinhood if you already use Robinhood for stocks and want a simple way to trade a few high-profile event contracts without extra fees.
- Read our full Kalshi vs Robinhood comparison for more details.
7 Ways to Minimize Kalshi Fees
While Kalshi's 2-cent fee is simple and relatively low, these strategies can help you keep your overall trading costs down:
-
Avoid very low-priced contracts.
The 2-cent fee hits hardest on contracts priced under $0.20. At $0.05, the fee is 40% of your trade. Stick to contracts above $0.25 where the fee is under 8%.
-
Use limit orders to control your entry price.
While the fee is the same for maker and taker orders, limit orders let you avoid the spread. Instead of buying at the ask, place a bid closer to the mid-price. This can save you 2-5 cents per contract — more than the fee itself.
-
Hold to settlement when confident.
Selling early means paying the 2-cent fee twice (entry + exit) plus the spread on both sides. If you are confident in your position, holding to settlement means you only pay the fee once.
-
Trade larger positions.
The 2-cent fee is fixed regardless of position size. Buying 10 contracts costs $0.20 in fees; buying 100 costs $2.00. The fee as a percentage of your total investment decreases as you scale up.
-
Use ACH for deposits and withdrawals.
ACH transfers are free in both directions. Avoid debit card deposits (processing fee) and wire withdrawals ($5 fee) unless speed is critical.
-
Compare prices across platforms.
Use PredScope to compare the same event across Kalshi, Polymarket, and other platforms. Sometimes a better price on another platform more than offsets any fee difference.
-
Factor fees into your breakeven calculations.
Use our fee calculator below or the PredScope odds calculator to ensure a trade is still profitable after accounting for fees and spreads.
Buy and hold to settlement:
Cost = (100 × $0.60) + (100 × $0.02) = $62.00
Fee as % of trade = 3.2%
Buy and sell before settlement:
Buy cost = (100 × $0.60) + (100 × $0.02) = $62.00
Sell at $0.75: Revenue = (100 × $0.75) - (100 × $0.02) = $73.00
Profit = $73.00 - $62.00 = $11.00
Total fees paid = $4.00 (buy + sell)
Fee as % of profit = 36.4%
Takeaway: Holding to settlement is significantly cheaper in fees, but selling early lets you lock in profit without outcome risk.
Kalshi Fee Calculator
Use this calculator to estimate your trading fees and potential profit before placing a trade on Kalshi.
Total investment: $52.00
Trading fees: $2.00
Fee % of trade: 3.8%
Payout if you win: $100.00
Net profit/loss: +$48.00
Frequently Asked Questions About Kalshi Fees
How much does Kalshi charge per trade?
Kalshi charges a flat fee of 2 cents ($0.02) per contract for every trade. This applies to both buy and sell orders, and to both maker (limit) and taker (market) orders. For example, buying 50 contracts costs $1.00 in trading fees.
Does Kalshi charge fees on losing trades?
Yes, but only the initial trading fee. The 2-cent per contract fee is charged when you execute the trade, regardless of the outcome. If your position loses, you do not pay any additional fee — you simply receive $0 per contract at settlement. There is no extra penalty for losing.
Are there hidden fees on Kalshi?
No. Kalshi's fee structure is transparent: 2 cents per contract on every trade, free ACH deposits and withdrawals, and no settlement or account maintenance fees. The only additional costs are optional: debit card deposit processing fees and $5 wire withdrawal fees. There are no hidden markups, no PFOF spreads, and no percentage-based commissions.
Did Kalshi used to charge higher fees?
Yes. Kalshi previously charged a percentage-based fee on winning trades, ranging from approximately 1% to 7% depending on the market type. This was replaced by the current flat 2-cent per contract fee, which is simpler, more predictable, and generally cheaper for traders — especially those who trade frequently or win often.
How do Kalshi fees compare to Polymarket?
Kalshi's explicit fees (2 cents per contract) are higher than Polymarket's (~0% maker / 0.01% taker). However, Kalshi accepts USD directly (no crypto needed), issues 1099 tax forms, and is CFTC-regulated. Polymarket is cheaper for high-frequency and high-volume traders, while Kalshi is better for traders who want simplicity, regulatory protection, and easy tax reporting. See our Polymarket fees guide for a detailed comparison.
Is Kalshi cheaper than Robinhood for event contracts?
Robinhood charges zero explicit trading fees on event contracts, while Kalshi charges 2 cents per contract. However, Robinhood earns through wider bid-ask spreads, so the all-in cost may be comparable. Kalshi offers a much larger selection of markets and deeper liquidity. See our Kalshi vs Robinhood comparison for the full breakdown.
Does Kalshi charge a withdrawal fee?
Standard ACH withdrawals are completely free. The only withdrawal fee is $5 for expedited wire transfers, which most traders will never need. There are no limits on the number of free ACH withdrawals per month.
Are Kalshi winnings taxable?
Yes. Kalshi profits are taxable income in the United States. Kalshi issues 1099 tax forms at year-end, which makes reporting straightforward. Prediction market profits may be treated as short-term capital gains or ordinary income depending on your situation. See our prediction market taxes guide for details, and consult a tax professional for advice specific to your circumstances.
Start Trading on Kalshi
CFTC-regulated prediction market exchange. Simple 2-cent fee per contract. Deposit and withdraw USD for free.
Sign Up for Kalshi → Compare All PlatformsRelated guides: Kalshi Stock & IPO
Related: Kalshi referral code
Guides -->Related Guides
- How to Use Kalshi — Step-by-step beginner's guide to trading on Kalshi
- Kalshi Review 2026 — Full review of the regulated US prediction market
- Polymarket Fees Explained — Complete Polymarket fee breakdown and comparison
- Kalshi vs Robinhood — Side-by-side comparison for event contract trading
- Best Prediction Markets 2026 — Top platforms ranked by fees, features, and markets
- Prediction Market Taxes — How to report Kalshi and Polymarket profits on your taxes
- Event Contracts: What They Are & How to Trade — CFTC-regulated binary contracts explained
- Prediction Market Arbitrage — Find risk-free profit opportunities across platforms
- Kalshi Promo Code 2026 — Current bonuses and referral deals
- What Are Prediction Markets? — Complete introduction to event trading
- How to Make Money on Prediction Markets — Strategies and tips for profitable trading
- Prediction Market Glossary — 40+ key terms explained
- Kalshi Taxes Guide — How to report Kalshi profits on your tax return
- Is Kalshi Safe? — Safety, regulation, and fund protection explained
- Kalshi Alternatives — Other prediction market platforms to consider
See also: Kalshi sign-up bonus — learn more about Kalshi sign-up bonus.
See also: Kalshi API — learn more about Kalshi API.