★ Best for US Beginners
Kalshi
CFTC-regulated since 2020
★★★★★ 4.8/5
$10
Sign-up bonus
  • No crypto required — USD deposits
  • Bank transfer, debit, Venmo, PayPal
  • No waitlist — open to 42+ states now
  • 350,000+ active markets
Claim Kalshi Bonus →
★ Best Fees & Global Markets
Polymarket
CFTC-approved via QCEX (2025)
★★★★ 4.4/5
$20
Welcome bonus
  • Near-zero trading fees
  • Instant USDC withdrawals
  • 3,000+ global markets
  • $15B+ monthly volume
Claim Polymarket Bonus →

Full Side-by-Side Comparison

FeatureKalshiPolymarket
CFTC Regulation DCM since 2020 Via QCEX (2025)
US Access Open — 42+ states Beta waitlist
Deposit method Bank / Card / USD USDC only
Min deposit $1 $20 USDC
Trading fees 0–7% per trade Near zero
Withdrawal speed 30 min (debit) / 4 days (ACH) Instant USDC
Active markets 350,000+ 3,000+ global
Monthly volume $2.4B+ $15B+
Sports markets Yes — 90% of revenue Yes — US beta
Politics markets Yes — nationwide Yes — expanding
Mobile app iOS + Android iOS only (US)
Sign-up bonus $10 via referral link $20 via referral link
Blocked states (sports) AZ, IL, MA, MD, MI, MT, NV, OH Same 8 states

Category Winners

Best for US beginners
★ Kalshi
No crypto, no waitlist, bank transfers accepted
Lowest fees
★ Polymarket
Near-zero fees vs Kalshi's 0–7%
Fastest withdrawals
★ Polymarket
Instant USDC vs 30 min–4 days
Most US states
★ Kalshi
Fully open vs beta waitlist
Market depth
★ Polymarket
$15B+ monthly vs $2.4B+
Regulatory clarity
★ Kalshi
DCM license 5 years longer than Polymarket
Sign-up bonus
★ Polymarket
$20 welcome vs $10 sign-up

Fees: Polymarket Wins Clearly

This is the most significant practical difference between the two platforms for active traders. Kalshi charges a maker/taker fee of 0–7% per trade depending on market liquidity and contract price. On a liquid sports market you might pay 3–4%; on a thinner political or macro market it can reach 7%.

Polymarket operates on blockchain infrastructure and charges near-zero fees. The only cost is the spread between buy and sell prices on each market, which is tightest on the highest-volume markets. For a trader placing $500 in trades per week, the difference in fees between the two platforms can easily exceed $50/month.

US Accessibility: Kalshi Wins Clearly

Kalshi has been fully open to US users since 2021. It accepts ACH bank transfers, debit cards, Venmo, PayPal, and Cash App — no crypto knowledge required. It is available in 42+ states with a full iOS and Android app.

Polymarket US launched in December 2025 in beta, iOS only, with access via waitlist. It requires USDC — a stablecoin you must purchase on a separate crypto exchange before depositing. For most Americans unfamiliar with crypto, this is a meaningful friction point. If your priority is getting started today with minimal hassle, Kalshi is the clear answer.

Markets: Depends What You Want

Kalshi offers 350,000+ curated CFTC-approved contracts. Sports accounts for approximately 90% of its trading volume, but the platform also covers Fed rate decisions, economic data, elections, weather, and pop culture events. All markets are denominated in USD.

Polymarket hosts 3,000+ markets globally, with significantly more international coverage — global elections, geopolitical events, crypto prices, and scientific milestones that Kalshi does not list. For traders who want to bet on who wins a French election or whether the Fed chair will resign, Polymarket has no equivalent.

Our Verdict

★★★★★
Kalshi — 4.8/5
Best for most US users
★★★★
Polymarket — 4.4/5
Best fees & global markets

If you are new to prediction markets and based in the US, start with Kalshi. No crypto, no waitlist, bank transfers accepted, fully regulated. Once you are comfortable, open a Polymarket account to access lower fees and global market depth. The two platforms complement each other well — many serious traders use both.

Claim Kalshi $10 Bonus → Claim Polymarket $20 Bonus →

Kalshi vs Polymarket FAQ

Is Kalshi or Polymarket better for US users? +
Kalshi is currently the better choice for most US users. It is fully CFTC-regulated since 2020, available in 42+ states with no waitlist, accepts USD bank transfers, and has both iOS and Android apps. Polymarket US is in beta with iOS-only waitlist access and requires USDC crypto deposits.
What are the fees on Kalshi vs Polymarket? +
Kalshi charges 0–7% per trade depending on the market and liquidity. Polymarket charges near-zero fees — it operates on blockchain infrastructure and earns through the bid-ask spread. For active traders placing significant volume, Polymarket is substantially cheaper.
Can I use both Kalshi and Polymarket? +
Yes. Many experienced traders maintain accounts on both platforms. A common strategy is to use Kalshi for US sports and domestic markets with USD deposits, and Polymarket for global events, lower fees, and crypto-native settlement. There is no restriction on using both.
Which has more markets — Kalshi or Polymarket? +
It depends how you count. Kalshi offers 350,000+ active contract listings spanning sports, finance, politics, and weather — mostly US-focused. Polymarket offers 3,000+ markets globally, with significantly more international event coverage and higher individual market liquidity on its top contracts.
Do Kalshi and Polymarket offer sign-up bonuses? +
Yes. Both offer sign-up bonuses applied automatically via referral link — no promo code required. Kalshi offers a $10 sign-up bonus and Polymarket offers a $20 welcome bonus for new US users who make a qualifying deposit.
Are Kalshi and Polymarket blocked in the same states? +
Yes, for sports markets. Both platforms are currently blocked for sports event contracts in AZ, IL, MA, MD, MI, MT, NV, and OH due to ongoing state-level legal challenges. Kalshi's non-sports markets (politics, economics, weather) remain available in most of those states.