Kalshi vs Polymarket US: regulation, fees, states, and payouts
Kalshi and Polymarket US are both CFTC-regulated exchanges where you buy Yes or No contracts. They differ on fees, where you can trade, what you can trade, and how fast your money comes back.
Each section below says what each company’s own pages say, with the date we checked. We have no affiliate deal with either. The app’s own screen is final.
Regulation and U.S. access
Checked October 27, 2026.
Kalshi: KalshiEX LLC has been a CFTC-designated contract market since November 3, 2020.
- www.cftc.gov/IndustryOversight/IndustryFilings/TradingOrganizations/42993 · checked October 27, 2026
Polymarket US: QCX LLC, doing business as Polymarket US, has been a CFTC-designated contract market since July 9, 2025. Its trades clear through Polymarket Clearing (QC Clearing LLC), a CFTC-registered clearing organization since December 16, 2024.
- www.cftc.gov/IndustryOversight/IndustryFilings/TradingOrganizations/49571 · checked October 27, 2026
- www.cftc.gov/IndustryOversight/IndustryFilings/ClearingOrganizations?Status=Registered · checked October 27, 2026
- docs.polymarket.us/learn/home.md · checked October 27, 2026
Polymarket’s international crypto site is a different product, and it is close-only for U.S. users. This page covers Polymarket US.
- docs.polymarket.us/learn/home.md · checked October 27, 2026
- docs.polymarket.com/api-reference/geoblock · checked October 27, 2026
Both say you must be 18 or older. Kalshi asks for a government photo ID if verification is needed; Polymarket US asks for your SSN and, if needed, an ID and selfie.
- help.kalshi.com/en/articles/13823778-signing-up-as-an-individual · checked October 27, 2026
- help.kalshi.com/en/articles/15581140-document-verification-on-kalshi · checked October 27, 2026
- apps.apple.com/us/app/polymarket/id6648798962 · checked October 27, 2026
- docs.polymarket.us/learn/get-started/signup · checked October 27, 2026
Fees
Kalshi: on most markets the taker fee is 0.07 × contracts × price × (1 − price), rounded up, which is $1.75 on 100 contracts at 50¢. Some markets carry a maker fee or a different multiplier.
- kalshi.com/fee-schedule · checked October 27, 2026
- kalshi.com/docs/kalshi-fee-schedule.pdf · checked October 20, 2026
Polymarket US: the taker fee is 0.0695 × contracts × price × (1 − price), rounded to the cent, which is $1.74 on 100 contracts at 50¢. Table tennis uses 0.10. High-volume makers can earn rebates.
- docs.polymarket.us/fees · checked October 27, 2026
Moving money: Kalshi charges no fee on ACH deposits or withdrawals, and up to 2% on debit card deposits. Polymarket US says withdrawals are free.
- kalshi.com/docs/kalshi-fee-schedule.pdf · checked October 20, 2026
- help.kalshi.com/en/articles/13823802-debit-card-withdrawals · checked October 27, 2026
- help.kalshi.com/en/articles/13823803-bank-withdrawals · checked October 27, 2026
- docs.polymarket.us/learn/deposits/withdraw-funds/overview · checked October 27, 2026
Where you can trade
Polymarket US says it is legal nationwide, except that trading is currently not available in Nevada.
- polymarket.us/trust · checked October 27, 2026
Kalshi does not publish a state-by-state list on the help pages we checked.
- help.kalshi.com/en · checked October 27, 2026
State officials have challenged both. Ohio’s Casino Control Commission told Polymarket US to stop offering sports contracts there, and Polymarket US has sued. Utah’s Attorney General sued Kalshi on October 20, 2026. A lawsuit doesn’t change our state labels; a court order would be noted on the state page.
- storage.courtlistener.com/recap/gov.uscourts.ohsd.316878/gov.uscourts.ohsd.316878.1.0.pdf · checked October 27, 2026
- www.courtlistener.com/docket/74979090/qcx-llc-v-wilson · checked October 27, 2026
- attorneygeneral.utah.gov/utah-sues-kalshi · checked October 27, 2026
Open your state’s page for both labels and any state action →Court tracker →
What you can trade
Kalshi’s site menu lists elections and politics, sports, culture, crypto, commodities, climate, economics, finance, tech and science, and mentions markets.
- kalshi.com · checked October 27, 2026
Polymarket US lists sports (NFL, NBA, NHL, MLB, MLS, college sports, tennis, golf, and more), politics, crypto, economics, weather, tech, and culture.
- docs.polymarket.us/learn/home.md · checked October 27, 2026
Listing a market type nationally is not the same as offering it in your state. Check the state page.
Deposits and withdrawals
Kalshi: $10 minimum deposit, or $1,000 by wire. Fund by debit card (including Apple Pay and Google Pay), ACH, PayPal, Venmo, Cash App, crypto, or wire. Cash App is deposits only.
- help.kalshi.com/en/articles/13823791-transfers-faq · checked October 27, 2026
Polymarket US: fund by debit card, ACH, Apple Pay, PayPal, Venmo, USDC (on iPhone, where available), or wire, with a $5,000 wire minimum. You can withdraw only after deposits fully clear, and money goes back to the source you funded from.
- docs.polymarket.us/learn/deposits/deposit-methods/overview · checked October 27, 2026
- docs.polymarket.us/learn/deposits/withdraw-funds/overview · checked October 27, 2026
Getting paid
Polymarket US settles a winning contract at $1.00 and a losing one at $0.00. Your portfolio updates automatically.
- docs.polymarket.us/learn/markets/contract-settlement.md · checked October 27, 2026
Withdrawal speed: Kalshi says debit card withdrawals typically arrive within a few hours and bank withdrawals within a few business days. Polymarket US says debit card and ACH withdrawals take 3–4 business days, and wires (through support) 1 business day.
- help.kalshi.com/en/articles/13823802-debit-card-withdrawals · checked October 27, 2026
- help.kalshi.com/en/articles/13823803-bank-withdrawals · checked October 27, 2026
- docs.polymarket.us/learn/deposits/withdraw-funds/overview · checked October 27, 2026