Kalshi Fees Explained (2026): Trading, Settlement & Withdrawal Costs
Kalshi does not charge a flat commission. It charges a variable trading fee tied to contract price, which means the cost of a trade depends on how uncertain the market is. This guide breaks down the exact formula, what you actually pay, and where the hidden costs sit.
Quick Answer
- Kalshi's trading fee formula is 0.07 x C x P x (1 - P), rounded up to the next cent
- Fees peak near 50c contracts (~1.75c per contract) and fall to near zero at 5c or 95c
- No deposit fee via ACH or debit; no ACH withdrawal fee; wires and instant debit payouts can carry a cost
- Settlement of a winning contract at $1.00 is free — you are not charged again at resolution
- Maker orders on select markets are fee-free; taker orders always pay the formula
The Kalshi fee formula
`fee = ceil(0.07 x C x P x (1 - P))`
Where C is the number of contracts and P is the price in dollars (a 60c contract is P = 0.60). The result is rounded up to the next whole cent.
Because of the P x (1 - P) term, the fee is largest where the market is most uncertain and smallest where the outcome is nearly settled.
| Contract price | Fee per contract | Fee on 100 contracts |
|---|---|---|
| 5c | ~0.1c | $0.34 |
| 25c | ~1.3c | $1.32 |
| 50c | ~1.8c | $1.75 |
| 75c | ~1.3c | $1.32 |
| 95c | ~0.1c | $0.34 |
Worked example
You buy 100 YES contracts at 60c. Your stake is $60.00. The fee is 0.07 x 100 x 0.60 x 0.40 = $1.68. Total cost: $61.68. If the contract resolves YES you receive $100.00 with no settlement fee, for a net profit of $38.32.
If you sell before resolution, you pay the fee again on the exit trade at the exit price. Round-tripping a 50c contract is the most expensive thing you can do on Kalshi — budget roughly 3.5c per contract for a full in-and-out at maximum uncertainty.
Deposit and withdrawal fees
- ACH deposit — free
- Debit card deposit — free on standard amounts
- Wire deposit — your bank may charge; Kalshi does not
- ACH withdrawal — free, settles in 1-3 business days
- Instant/debit payout — a small processing fee may apply
- Settlement — free
There is no inactivity fee and no monthly account fee.
Maker vs taker
Resting limit orders that add liquidity are fee-free on select markets. Marketable orders that cross the spread always pay the formula. If you trade size, posting a limit order one cent inside the book is the single biggest fee saving available on the platform.
The real cost is the spread, not the fee
On thin markets a 3-4c spread costs more than the fee does. Always check the order book depth before sizing up — a 1.75c fee on a market with a 5c spread means your true round-trip cost is closer to 8c per contract.
How Kalshi compares
Polymarket US shows the fee on each order in the app; on high-volume political and international markets its spreads are among the tightest. It funds in US dollars on the iPhone app.
OG.com prices its sports markets with an embedded margin rather than an explicit fee line, which is simpler to read but not necessarily cheaper. Its parlay builder is where the pricing edge sits for multi-leg traders.
Pros
- Transparent, published formula you can compute before you trade
- No deposit, ACH withdrawal, settlement, or inactivity fees
- Fees collapse toward zero on high-confidence contracts
- Maker orders can be free on select markets
Cons
- Round-trip cost near 50c is meaningful for short-term traders
- Rounding is always up, which hurts very small orders
- Spread on thin markets often exceeds the fee itself
Bottom line
Kalshi's fees are cheap on directional, hold-to-resolution trades and expensive on high-frequency round-tripping near 50c. Compute 0.07 x C x P x (1 - P) before you click, use limit orders, and check spread depth first.
New accounts trade $25 and get $25 in credit with code RANKPREDICTS — enough to cover the fees on your first several hundred contracts.
Related articles
- Prediction markets let you trade on the outcomes of real-world events. Here is everything you need to know before you start.
- They both involve predicting outcomes. But prediction markets and sports betting are fundamentally different products. Here is how.
- Ready to make your first prediction market trade? This step-by-step guide walks you through everything from choosing a platform to placing your first contract.
Frequently asked questions
What are Kalshi's fees?
Kalshi charges a variable trading fee of 0.07 x contracts x price x (1 - price), rounded up to the next cent. There is no deposit fee, no ACH withdrawal fee, and no settlement fee.
Does Kalshi charge a withdrawal fee?
No. ACH withdrawals are free and settle in 1-3 business days. Instant debit payouts may carry a small processing fee.
How much does Kalshi take from winnings?
Nothing at settlement. Winning contracts pay the full $1.00 — the fee is charged only when you open (and, if applicable, close) the position.
Are Kalshi fees higher than Polymarket?
On most markets yes: Polymarket US charges no explicit per-trade fee, so its cost is the spread. Kalshi's advantage is USD funding and broader US sports coverage.
How can I pay lower fees on Kalshi?
Trade contracts priced away from 50c, use resting limit (maker) orders where they are fee-free, hold to resolution instead of round-tripping, and check spread depth before sizing up.