Is Polymarket bigger than Kalshi?

Yes by total volume — Polymarket is the world's largest prediction market and consistently leads on politics, crypto, and global sports. Kalshi is larger in U.S. economics and weather contracts.

Can I use Polymarket in the U.S.?

Polymarket's terms restrict U.S. residents. U.S. traders who want a direct USD on-ramp typically use Kalshi (CFTC-regulated, legal in all 50 states).

Does Polymarket charge fees?

Polymarket has no platform fee. You pay only the bid-ask spread and minimal Polygon gas. Kalshi charges a per-contract fee that scales with price.

Is Polymarket safer than Kalshi?

Different risk profiles. Polymarket is non-custodial — you hold your own USDC. Kalshi is regulated and custodial — Kalshi holds funds in segregated bank accounts. Both have strong track records on payouts.

Polymarket or Kalshi for the World Cup?

Polymarket — World Cup winner markets there are the largest on the internet right now. Kalshi has solid soccer markets too but liquidity favors Polymarket for global tournaments.

Which one has Donald Trump and election markets?

Both. Polymarket has historically posted higher volume on U.S. presidential markets; Kalshi runs CFTC-approved election event contracts for U.S. residents.

Can Florida residents use Polymarket?

Polymarket's terms restrict U.S. residents, so Florida users typically default to Kalshi (CFTC-regulated, fully open in FL). Some FL traders still use Polymarket as a secondary venue for arbitrage where the book is deeper.

How does Polymarket score on your review rubric vs Kalshi?

Under our six-criteria methodology, Polymarket scores 4.0/5 and Kalshi 4.5/5. Polymarket wins on liquidity and fees; Kalshi wins on regulation and Florida availability. See the scoring table on this page.

Does Polymarket cover Florida hurricane or state markets?

Not meaningfully. Weather and Atlantic hurricane markets live on Kalshi. Polymarket's edge is global politics, culture, and crypto — not Florida-specific event contracts.

7 min read · Updated June 29, 2026

Polymarket vs Kalshi

Reviewed by

Catie Di Stefano — Founder & Editor-in-Chief

15 years in regulated online gamblingHeld a New Jersey DGE vendor licenseLaunched Hard Rock NJ online CRM program (2018)

Short answer: Polymarket has the deepest global liquidity and zero fees. Kalshi is the only CFTC-regulated U.S. option. Pick by where you live and what you trade.

Key takeaways

› Polymarket is the largest prediction market globally — politics, crypto, World Cup.
› No platform fee on Polymarket; Kalshi charges a small per-contract fee.
› Polymarket settles in USDC on Polygon; Kalshi settles in USD.
› Kalshi is openly available to U.S. residents; Polymarket is restricted.
› Both have strong payout track records.

Why Polymarket leads on volume

Polymarket has scaled into the default global prediction market. Its USDC settlement, non-custodial design, and no-fee model attract pro traders who push size — and that liquidity attracts everyone else. As of June 2026, Polymarket's top World Cup winner markets each carry tens of millions in 24-hour volume.

Quick-glance table

	Polymarket	Kalshi
Total volume rank	#1 globally	#1 U.S.-regulated
Fees	0% platform	~1–7% scaled
Settlement	USDC, on-chain	USD, custodial
U.S. residents	Restricted	Open in all 50
Top categories	Politics, World Cup, crypto, culture	Fed/CPI, weather, sports

When Kalshi is the better choice

If you live in the U.S. and want frictionless USD deposits, automatic 1099 tax reporting, and access from any state — Kalshi wins. It's also the only platform where U.S. residents can legally trade CFTC-approved sports event contracts.

When Polymarket wins outright

Outside the U.S., or if you already hold USDC, Polymarket gives you the deepest book on politics, the World Cup, crypto price markets, and culture (Oscars, Grammys, who-will-replace-X). Pros stack size there because the fee drag is zero.

Scoring rubric — Polymarket vs Kalshi

Both scored on our public six-criteria methodology.

Criterion	Weight	Polymarket	Kalshi
Regulatory clarity	30%	3.5	5.0
Liquidity & depth	20%	5.0	4.0
Florida availability	15%	2.5	5.0
Fees & payout	15%	5.0	4.0
UX & reliability	10%	4.0	4.5
Editorial trust	10%	4.0	4.5
Composite	100%	4.0 / 5	4.5 / 5

Florida angle

Polymarket restricts U.S. residents in its terms, which makes it a non-starter as a Florida primary account. FL traders default to Kalshi and use Polymarket, if at all, as a secondary venue for arbitrage where the book is meaningfully deeper (World Cup winner, presidential markets, culture).

Florida's regulated sportsbook — Hard Rock Bet — is a separate product entirely: state-licensed sports wagering under the FL gaming compact. Kalshi and Polymarket are federal-commodities event contracts, not sportsbook wagers, and don't conflict with a Hard Rock Bet account.

Start trading in 2 minutes

Both platforms are free to sign up. Kalshi is CFTC-regulated USD. Polymarket settles in USDC.

Play responsibly

Prediction markets are real-money trading and you can lose your full stake. We recommend 21+. If trading stops feeling fun, call 1-800-GAMBLER or text 988.

Reviewed by Catie Di Stefano. Every guide follows our editorial standards & review methodology. Affiliate links are disclosed under our affiliate disclosure.