Kalshi vs Interactive Brokers ForecastTrader
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
Interactive Brokers ForecastTrader
Broker · USD · United States
5.9 out of 10, editor score
Verdict
Kalshi is the specialist exchange with the broader market list; Interactive Brokers ForecastTrader brings ForecastEx contracts into a full brokerage account. Kalshi scores higher on our model. ForecastTrader suits existing IBKR clients who want economic and political contracts next to their other investments, with a flat, symmetric per-contract fee.
Row by row
The edge on each row is marked. Built automatically from the platform records, so it never drifts from the reviews — rows that describe rather than rank, like jurisdiction or market categories, say “no edge” instead of picking a side.
| Criterion | Kalshi | Interactive Brokers ForecastTrader | Edge |
|---|---|---|---|
| Overview | |||
| Editor Score | 8/10 | 5.9/10 | Kalshi |
| Type | Regulated exchange | Broker | No edge |
| Launched | 2021 | — | No edge |
| Mobile apps | iOS, Android | — | No edge |
| Fees | |||
| Fee conditions & evidence | 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 | Fee conditions have not been verified. Review evidence | Depends on the trade |
| Maker fee | See fee conditions above | Not verified | No edge |
| Taker fee | See fee conditions above | Not verified | No edge |
| Withdrawal fee | — | — | No edge |
| Deposits and withdrawals | |||
| Minimum deposit | $10 | — | No edge |
| Currencies | USD | USD | No edge |
| Markets | |||
| Market categories | Politics, Sports, Crypto, Economy, Entertainment, Science, Other | Economy, Politics, Science | No edge |
| Public API | Yes | — | No edge |
| Access and regulation | |||
| Jurisdiction | United States | United States | No edge |
| Licensing | CFTC-designated contract market — Kalshi (CFTC DCM register: “Designated”, 3 November 2020) | CFTC-designated contract market — ForecastEx LLC (CFTC DCM register: “Designated”, 24 June 2024), CFTC-registered derivatives clearing organization — ForecastEx LLC (per forecastex.com) | No edge |
| KYC required | Yes | 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). | Trading requires an account with a CFTC-registered futures commission merchant that is a Member at ForecastEx (forecastex.com FAQ). The exact identity-verification requirements are not stated. | No edge |
| Supported countries | — | — | No edge |
Structure
Both are CFTC-regulated. ForecastEx LLC is itself a designated contract market and clearing organisation, reached through an Interactive Brokers account; Kalshi is a designated contract market you trade on directly.
Costs
ForecastEx states an exchange fee of $0.01 per contract, charged to each side at execution. Kalshi’s fee depends on the contract price. IBKR’s own commission on top of the exchange fee could not be verified from its pages.
Which one suits you
Choose Kalshi if…
→Traders who want a dedicated prediction exchange with sports, politics and economics.
Choose Interactive Brokers ForecastTrader if…
→Existing Interactive Brokers clients who want event contracts inside their brokerage account.
FAQ
- Do I need an Interactive Brokers account for ForecastTrader?
- Yes. ForecastEx contracts are traded through an Interactive Brokers account; eligibility depends on which IBKR affiliate holds it.
- Does ForecastTrader offer sports contracts like Kalshi?
- ForecastTrader centres on economic, political and climate contracts; Kalshi’s list is broader and includes sports.