Polymarket fees and Kalshi fees explained, with the formulas and worked examples
Polymarket fees and Kalshi fees explained
Kalshi and both Polymarket products price taker fees on the same curve, rate x contracts x price x (1 - price), so fees peak at 50 cents. On 100 contracts at 50 cents Kalshi charges $1.75, Polymarket's international exchange $0 to $1.75 by category and Polymarket US $1.74.
Piece published Reviewed by CryptoGuardz Register Desk, editorial desk
Polymarket fees and Kalshi fees use the same curve: a rate times contracts times price times (1 minus price). Buy 100 contracts at 50 cents as a taker and Kalshi charges $1.75, Polymarket's international exchange $0 to $1.75 depending on the category, and Polymarket US $1.74. Resting maker orders pay nothing on most markets of all three.
Every figure below comes from the fee schedules and help pages the exchanges published, all retrieved on 13 October 2026. It does not rank or recommend any platform.
How are Kalshi fees calculated?
By formula, per fill. Kalshi's fee schedule, last updated and effective 7 July 2026, sets the taker fee as:
fees = round up(M x 0.07 x C x P x (1-P))
P is "the price of a contract in dollars (50 cents is 0.5)", C is "the number of contracts being traded" and M is "the multiplier for each contract (default is 1 unless otherwise indicated)". The rounding rule: "round up = rounds up such that the fee + positionCost is rounded to a centicent."
Because P x (1-P) is largest at 0.5, the fee peaks on a coin-flip contract and shrinks toward 1 cent and 99 cents. Three worked examples, 100 contracts each, M = 1:
- At 50 cents: 0.07 x 100 x 0.50 x 0.50 = 0.07 x 25 = $1.75.
- At 20 cents: 0.07 x 100 x 0.20 x 0.80 = 0.07 x 16 = $1.12.
- At 5 cents: 0.07 x 100 x 0.05 x 0.95 = 0.07 x 4.75 = $0.3325.
The first two match Kalshi's own general trading fees table. The third does not: the table lists $0.34 for 100 contracts at $0.05, which is $0.3325 rounded up to the cent rather than the centicent. On a single contract at 50 cents the formula gives $0.0175 and the table shows $0.02.
Some series have their own multipliers. The schedule lists 10 series at 0 for both maker and taker, including KXBTCY and KXETHY, so those trade free. Combos (KXMVE) carry a taker multiplier of 1 and a maker multiplier of 2.
Does Kalshi charge maker fees?
On some markets. The schedule says trading fees are "only charged for orders that are immediately matched with orders sitting on the orderbook." Resting orders fall under a separate maker formula:
fees = round up(M x 0.0175 x C x P x (1-P))
Here the default M is 0, so a maker pays nothing unless the series is listed. The non-standard table sets maker M to 1 for a long list of sports and economics series, among them KXNFLGAME, KXNBA, KXFED and KXCPI. A maker fill of 100 contracts at 50 cents on one of those costs 0.0175 x 100 x 0.25 = $0.4375. Kalshi also states "there are no fees associated with canceling a resting order."
Kalshi deposit and withdrawal fees by method
The same schedule covers money movement. There is "no settlement fee" and "no membership fee".
| Method | Kalshi deposit | Kalshi withdrawal |
|---|---|---|
| ACH | No fee | No fee |
| Debit card | Up to 2% | No fee (help centre) |
| Wire | No Kalshi fee, bank fees vary | Not supported under $500,000 |
| Crypto | Processor fees, disclosed before the transaction | Processor fees, disclosed before the transaction |
| Other rails | 0% to 2% at Kalshi's discretion | 0% to 2% at Kalshi's discretion |
The card line reads: "Kalshi charges a maximum fee of 2% on card deposits". Kalshi's Transfers FAQ adds that "The minimum deposit amount on Kalshi is $10", that wires "have a $1,000 minimum", and that "Debit withdrawals are normally instant". Its debit card withdrawal page says "No fees for debit card withdrawals." How long funds take to clear is covered in the sibling piece on withdrawal times.
How do Polymarket fees work on the international exchange?
Takers pay, makers do not, and the rate depends on the category. Polymarket's documentation gives the formula as:
fee = C × feeRate × p × (1 - p)
It also says "Makers are never charged fees. Only takers pay fees." and "Geopolitical and world events markets are fee-free." The rates:
- Crypto: 0.07
- Sports, Economics, Culture, Weather, Other: 0.05
- Finance, Politics, Mentions, Tech: 0.04
- Geopolitics: 0
So 100 shares of a sports market at 50 cents costs 0.05 x 100 x 0.25 = $1.25, a politics market $1.00 and a crypto market $1.75. Fees are "rounded to 5 decimal places" and "The smallest fee charged is 0.00001 USDC."
Part of the fee goes back out. The Maker Rebates Program pays makers 20% of taker fees in crypto, 15% in sports and 25% in the other fee-charging categories, daily in pUSD, with a $1 minimum payout. The Taker Rebate Program, live since 28 May 2026, has seven tiers set by 30-day weighted volume: 0% below $2,000 of weighted volume, then 3% up to 50%.
Gas, bridging and USDC on Polymarket
Polymarket says "There are also no Polymarket fees to deposit or withdraw USDC (though intermediaries like Coinbase or MoonPay may charge their own fees)." Trading collateral is pUSD on Polygon, a token backed by USDC.
Bridging from another chain is where costs appear. The bridge quote endpoint returns a fee breakdown with gas, a "Bridge fee", fill cost and slippage. Polymarket's sample quote for $10 shows $0.02 gas, a 0.3% bridge fee ($0.03) and $9.94 estimated output. That is an example, not a fixed rate.
On gas for trades, the builder program page says "Polymarket matches the order and covers gas fees for onchain operations." Whether every wallet type on polymarket.com is gas-free was not verified.
What does Polymarket US charge?
One rate across categories, plus a maker rebate. Polymarket US is run by QCX LLC, a CFTC-designated exchange covered in the Kalshi legal explainer. Its fee schedule sets:
Fee = Θ × C × p × (1 - p)
The taker Θ is 0.0695, or 0.10 on Table Tennis markets. Makers receive a rebate at Θ = -0.0125, paid at the point of trade. Fees and rebates are "rounded to the nearest $0.01 using banker's rounding". The exchange's CFTC filing of 7 July 2026 had raised the taker coefficient from 0.05 to 0.06 effective 1 July; the schedule read on 13 October shows 0.0695.
Worked: 100 contracts at 50 cents is 0.0695 x 25 = $1.7375, rounded to $1.74, and the maker on the other side gets 0.0125 x 25 = $0.3125, or $0.31. Combos use a steeper curve and carry no maker rebate.
Rebates change on 19 October 2026: maker rebates move to four volume tiers (none below $10,000,000 a month) and taker rebates to six tiers, from 0% below $250,000 to 30% from $50,000,000.
On funding, the US withdrawal page is titled "Withdraw your cash balance securely and for free". Deposit fees by method are not disclosed in the pages read. Debit card and ACH deposits are capped at $50,000 a day and wires have a $5,000 minimum.
Polymarket vs Kalshi fees at the same price
Taker fee on 100 contracts, standard markets, from each formula above.
| Price | Kalshi | Polymarket sports | Polymarket politics | Polymarket US |
|---|---|---|---|---|
| 5 cents | $0.3325 | $0.2375 | $0.19 | $0.33 |
| 20 cents | $1.12 | $0.80 | $0.64 | $1.11 |
| 50 cents | $1.75 | $1.25 | $1.00 | $1.74 |
Arithmetic: P x (1-P) is 0.0475, 0.16 and 0.25 at the three prices. Polymarket US at 5 cents is 0.0695 x 4.75 = $0.330125, rounded to $0.33; at 20 cents 0.0695 x 16 = $1.112, rounded to $1.11. Polymarket crypto markets match Kalshi at the 0.07 rate. Market coverage and legal status are compared in Polymarket vs Kalshi, and how profits are taxed in Kalshi and Polymarket taxes.
Quick answers
What are Kalshi fees?
Takers pay round up(0.07 x C x P x (1-P)), which is $1.75 on 100 contracts at 50 cents. Makers pay 0.0175 on the same curve only on listed series. ACH is free and card deposits cost up to 2%.
What are Polymarket fees?
On the international exchange takers pay a rate of 0 to 0.07 by category, $1.25 on 100 sports shares at 50 cents, and makers pay nothing. Polymarket US charges 0.0695, or $1.74 on the same trade.
Does Polymarket charge to deposit or withdraw?
Polymarket says it charges no fee to deposit or withdraw USDC, though bridges and onramps can. Polymarket US calls withdrawals free.
Which is cheaper, Polymarket or Kalshi?
At the same price Polymarket's sports and politics rates (0.05 and 0.04) are below Kalshi's 0.07. Polymarket US at 0.0695 is within a cent of Kalshi on 100 contracts. Where each one may operate is in the Kalshi legal explainer.
Where can I get help with gambling in the US?
The National Problem Gambling Helpline is 1-800-MY-RESET (1-800-697-3738), with call, text and chat. More options are on the responsible gambling page.
Sources
- Kalshi, Fee Schedule for Event Contracts (last updated and effective 7 July 2026), retrieved 13 October 2026
- Kalshi Help Center, Transfers FAQ, retrieved 13 October 2026
- Kalshi Help Center, Debit Card Withdrawals, retrieved 13 October 2026
- Polymarket documentation, Fees, retrieved 13 October 2026
- Polymarket documentation, Maker Rebates Program, retrieved 13 October 2026
- Polymarket documentation, Taker Rebate Program, retrieved 13 October 2026
- Polymarket documentation, Bridge deposit, withdraw and quote pages, retrieved 13 October 2026
- Polymarket documentation, Builder Program overview, retrieved 13 October 2026
- Polymarket US documentation, Fee Schedule, retrieved 13 October 2026
- Polymarket US documentation, Deposit methods overview and Wire Transfer, retrieved 13 October 2026
- Polymarket US documentation, Withdraw funds overview, retrieved 13 October 2026
- QCX LLC d/b/a Polymarket US, CFTC rule filing on fees, 7 July 2026, retrieved 13 October 2026
- National Council on Problem Gambling, National Problem Gambling Helpline, retrieved 13 October 2026
About this piece
Compiled by the CryptoGuardz register team from the sources listed above. Research and drafting are AI-assisted and reviewed by a named editor before publication. Nothing here is a recommendation to gamble. If a figure or a reading is wrong, tell us and the correction is logged in public.