Kalshi's general trading fee is 7% of a contract's expected earnings: round up(0.07 × contracts × price × (1 − price)), where price is in dollars. The fee peaks at 50¢ contracts and falls toward zero as a contract approaches $0 or $1.
This is the general schedule. Some markets — including certain election and championship markets — use different fee parameters, so check the market's own fee terms before trading it.
Source: Kalshi fee schedule, effective July 7, 2026, Kalshi fees help page.
The formula, in plain numbers
A Kalshi contract pays $1 if it resolves in your favor and $0 otherwise. The price P is the market's implied probability. Expected earnings per contract are P × (1 − P) dollars, and Kalshi takes 7% of that from takers.
| Contract price | Fee per contract (taker) | Fee on 100 contracts |
|---|---|---|
| 10¢ or 90¢ | 0.63¢ | $0.63 |
| 25¢ or 75¢ | 1.32¢ | $1.32 |
| 50¢ | 1.75¢ | $1.75 |
The fee is symmetric: a 25¢ contract and a 75¢ contract cost the same to trade, because both have the same expected earnings. The maximum is $1.75 per 100 contracts, at the 50¢ price.
Worked example: buying 200 contracts at 40¢ costs round up(0.07 × 200 × 0.40 × 0.60) = $3.36 in fees on an $80 position — about 4.2% of notional.
Makers pay less — on some markets
Maker fees are not universal. Kalshi charges maker fees only on some markets, and the rate is set per market rather than as a fixed fraction of the taker fee. Where maker fees do apply, resting a limit order instead of crossing the spread costs less than taking liquidity. Kalshi also runs volume tiers and periodic taker rebate programs for high-volume accounts. Check the market's fee terms and the current schedule before assuming the base taker rate is what you will pay.
Source: Kalshi fees help page.
What the fee does to your breakeven
A 50¢ contract implies 50% probability, but after the 1.75¢ taker fee your breakeven is worse than 50/50. You need the true probability to exceed roughly 51.8% for a buy at 50¢ to have positive expected value after fees. The distortion is largest near 50¢ — exactly where most contested markets trade — and negligible near the extremes.
Use the Prediction Market Fee Calculator to run the breakeven math for any price and size before you trade.
How other platforms charge
| Platform | Trading fee model | Deposit/withdrawal |
|---|---|---|
| Kalshi | 0.07 × C × P × (1−P), rounded up; maker fees only on some markets | Bank transfer, no trading fee on funding |
| Polymarket | Per-market fee schedule set by the venue; many markets charge no explicit fee and the cost is the spread | Crypto deposit; network gas applies |
| Pariflow | Spread-based execution; see the fee calculator for trade cost | 1% deposit fee |
The useful comparison is total cost per round trip, not the headline rate. A platform with no explicit fee but a 3¢ spread costs more than Kalshi's 1.75¢ fee on a tight book. Check the live spread on the specific market you want before deciding where to trade it.
When the fee matters most
- Short-dated, near-50¢ markets. The fee is a large fraction of expected earnings, so small edges disappear.
- High-frequency strategies. At 1.75¢ per contract, a bot needs more than that in edge per round trip to survive.
- Large size near resolution. As price moves toward $0 or $1 the fee shrinks, so late trades are cheaper than early ones.
For a broader platform comparison, see Polymarket alternatives compared and the list of prediction market platforms in 2026.
Pariflow Research Team
Editorial