Kalshi vs PredictIt
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
PredictIt
Regulated exchange · USD · United States
3.9 out of 10, editor score
Verdict
Kalshi is a full CFTC-designated exchange; PredictIt operates under CFTC staff no-action relief with a narrower, mostly political market list and position limits. Kalshi scores well above PredictIt on our model. PredictIt remains a long-running venue for US political markets.
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 | PredictIt | Edge |
|---|---|---|---|
| Overview | |||
| Editor Score | 8/10 | 3.9/10 | Kalshi |
| Type | Regulated exchange | Regulated exchange | 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 | PredictIt charges 10% of profit on profitable share sales or settlement, using purchase order (FIFO) for partial sales. No profit fee applies to break-even or losing trades. Withdrawals cost 5%, with a 30-day hold after the initial deposit; the terms allow additional method-specific charges. These percentages use different bases and must not be added into a single 15% trading fee. 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 | USD | USD | No edge |
| Markets | |||
| Market categories | Politics, Sports, Crypto, Economy, Entertainment, Science, Other | Politics, Economy | 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) | — | 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 |
Regulatory basis
Kalshi is designated by the CFTC. PredictIt runs under no-action relief — a staff letter, not a licence — most recently amended in July 2025 when operation moved to a new operator.
Who can use them
PredictIt is open to US persons only. Kalshi accepts US residents and many other countries, with a published list of exclusions.
Which one suits you
Choose Kalshi if…
→Almost everyone: a regulated exchange with broader markets and no PredictIt-style caps.
Choose PredictIt if…
→US political traders who want PredictIt’s long-running political markets and accept its limits.
FAQ
- Is PredictIt regulated like Kalshi?
- No. Kalshi is a CFTC-designated contract market; PredictIt operates under CFTC staff no-action relief, which is narrower.
- Can non-US residents use PredictIt?
- No. PredictIt’s terms limit participation to US persons.