Kalshi is the first CFTC-regulated prediction market in the United States. Since launching in 2021, it has grown into a legitimate trading platform with real legal backing — something Polymarket lacks for US users.
What Is Kalshi?
Kalshi is a New York-based event contract exchange regulated by the US Commodity Futures Trading Commission (CFTC). It lets US users legally trade on the outcomes of real-world events including politics, economics, weather, and more.
Kalshi Pros
- Fully regulated for US users — no VPN or crypto wallet required
- Bank account deposits — ACH transfers, no crypto friction
- Expanding market selection — now includes sports, weather, and economic data releases
- Clean mobile app — well-designed interface for new traders
- No geographic restrictions for US traders
Kalshi Cons
- Thinner liquidity than Polymarket — harder to fill large positions
- Fewer exotic markets — not as many niche markets compared to Polymarket
- Fees can be higher on some contracts
- Slower market creation — markets take longer to list vs crypto-native platforms
Kalshi Fees (2025)
Kalshi charges a fee on each trade that varies by contract type. Political markets typically charge 2-3% on the trade value. Economic data markets may have different fee structures. Always check the contract details before trading.
Who Should Use Kalshi?
Kalshi is best for: US-based traders who want legal, regulated access to prediction markets without dealing with crypto. If you're new to prediction markets and want the simplest onboarding experience, Kalshi is the right starting point.
Consider Polymarket if: You want maximum liquidity and are comfortable with a crypto wallet setup.
Analyzing Kalshi Markets With Polyscout AI
Polyscout AI supports Kalshi screenshots. Upload any Kalshi contract screenshot to get an instant edge score against live market data. Works on mobile too — just screenshot, upload, and get your analysis in seconds.