7 min read · Updated June 2026
Polymarket vs Kalshi
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.
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.