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Rain vs Kalshi
Generated from the same platform records as our written comparisons — the figures are the ones in each review. We have not published an editorial verdict on this combination, so this view carries no ranking of our own and stays out of search results.
Rain
Crypto, on-chain · USDT
— out of 10, editor score
- +7 market categories
- +Public API
Kalshi
Regulated exchange · USD · United States
8.0 out of 10, editor score
- +Regulated: CFTC-designated contract market — Kalshi (CFTC DCM register: “Designated”, 3 November 2020)
- +$10 minimum deposit
- +7 market categories
Row by row
The edge on each row is marked. Rows that describe rather than rank — jurisdiction, currencies, market categories — say “no edge” instead of picking a side.
| Criterion | Rain | Kalshi | Edge |
|---|---|---|---|
| Overview | |||
| Editor Score | Not rated | 8/10 | No edge |
| Type | Crypto / on-chain | Regulated exchange | No edge |
| Launched | 2025 | 2021 | No edge |
| Mobile apps | — | iOS, Android | No edge |
| Fees | |||
| Fee conditions & evidence | ToS fee structure on total market volume: 1.2% market creator, 1.2% liquidity providers, 0.1% resolver, 2.5% protocol (RAIN buyback and burn), "Total Standard Fees: 5.0% of Market volume", plus a $1 AI-oracle fee on public markets. Disputes require collateral of 0.1% of volume or $1,000, whichever is less. Review evidence · Official fee source | The general taker formula is 0.07 × multiplier × contracts × price × (1 − price), subject to schedule rounding. Maker fees use 0.0175 with a default multiplier of zero, but selected series charge maker fees. No settlement fee; funding charges depend on the payment method. Review evidence · Official fee source | Depends on the trade |
| Maker fee | See fee conditions above | See fee conditions above | No edge |
| Taker fee | See fee conditions above | See fee conditions above | No edge |
| Withdrawal fee | — | — | No edge |
| Deposits and withdrawals | |||
| Minimum deposit | — | $10 | No edge |
| Currencies | USDT | USD | No edge |
| Markets | |||
| Market categories | Politics, Sports, Crypto, Economy, Entertainment, Science, Other | Politics, Sports, Crypto, Economy, Entertainment, Science, Other | No edge |
| Public API | Yes | Yes | Tie |
| Access and regulation | |||
| Jurisdiction | — | United States | No edge |
| Licensing | — | CFTC-designated contract market — Kalshi (CFTC DCM register: “Designated”, 3 November 2020) | No edge |
| KYC required | — | Yes | No edge |
| KYC trigger | — | Mandatory before trading. Kalshi requires full legal name, date of birth, a residential address (no PO boxes or commercial addresses) and a live photo of a government ID — driver’s licence or passport — and states it is “mandated to gather this specific information from all Kalshi users due to our regulatory obligations under United States (US) law”, with proof of address, employment information or source of funds possible on top (help.kalshi.com, read 31 July 2026). | No edge |
| Supported countries | — | — | No edge |