Kalshi Fees vs Polymarket Fees vs Sportsbook Vig
The published formulas, maker vs taker, and one real NFL game worked to the cent, verified on October 16, 2026
GhostLeg, 2026-10-22, 9 min
Prices and features verified on October 16, 2026. We re-check this page quarterly; tell us if something changed.
Kalshi charges takers 0.07 x C x P x (1 - P), rounded up: $1.75 on 100 contracts at 50 cents. Polymarket (international, polymarket.com) publishes a sports taker rate of 0.05 on the same curve ($1.25 per 100 at 50 cents) and never charges makers; Polymarket US (polymarket.us) uses 0.0695 ($1.74). A sportsbook charges no separate fee, because its cost is the vig built into the price. On one real NFL game, Seahawks at Broncos on October 15, 2026, $100 of payout on Denver at closing prices cost $45.72 to $45.73 as a Kalshi taker, $44.73 on polymarket.com and $43.48 to $44.44 at five sportsbooks, against a no-vig fair outlay of $43.50 (our calculation from the published formulas).
When each cost is smallest
Statements about cost, not a recommendation to deposit, trade or bet anywhere.
- Kalshi's fee is smallest in dollars when the price is far from 50 cents: $0.07 per 100 contracts at 1 or 99 cents, $1.75 at 50.
- A resting (maker) order costs less than a taker order: 0.0175 instead of 0.07 on the listed sports game series, and nothing on Kalshi's other markets.
- On both Polymarket products, a resting order pays no fee: polymarket.com charges takers only, and Polymarket US's maker side is a rebate or zero.
- A sportsbook costs least when its price sits at or past the no-vig consensus.
- Deposits cost least on ACH (Kalshi) or USDC with no intermediary (polymarket.com).
Kalshi fees vs Polymarket fees vs sportsbook vig, side by side
Source dates sit in the column headers unless a cell says otherwise.
| Kalshi (schedule effective Jul 7, 2026; fee page read Oct 16) | Polymarket (international, polymarket.com; docs read Oct 16, 2026) | Polymarket US (polymarket.us; fees effective Oct 7, 2026) | Sportsbook | |
|---|---|---|---|---|
| Taker fee | round up(M x 0.07 x C x P x (1 - P)), M = 1 on NFL Game |
C x feeRate x p x (1 - p), Sports rate 0.05 |
0.0695 x C x p x (1 - p) |
None; the vig is in the odds |
| Rounding | Up, so fee plus position cost lands on a centicent | 5 decimal places | Nearest cent, banker's rounding | n/a |
| Maker fee | 0.0175 coefficient on listed series, otherwise 0 | "Makers are never charged fees" | Not listed; the maker side is a rebate (-0.0125) | n/a |
| Maker rebate | Not listed in the fee schedule (effective July 7, 2026) | 15% of collected sports taker fees | -0.0125 coefficient; tiers from Oct 19, 2026 | n/a |
| Taker rebate program | Not listed in the fee schedule (effective July 7, 2026) | 3% to 50% by volume, since May 28, 2026 | 10% to 50% from $250,000 a month; tiers from Oct 19, 2026 | n/a |
| Fee on 100 at $0.50 | $1.75 | $1.25 | $1.74 | n/a |
| Fee on 100, Broncos example (our calculation) | $1.7248 by the formula, $1.73 on a cent display | $1.22888, about $1.23 | $1.71 at a hypothetical price | -$0.02 to $0.94 over fair, by book (Oct 15, 2026 close) |
| Deposit fees | ACH free; card up to 2%; no Kalshi wire fee | None for USDC; intermediaries may charge | No fee stated on its deposit pages (read Oct 16, 2026) | Not covered here |
| Withdrawal fees | None on ACH; none on debit card, bank or crypto (help center, Aug 24, 2026) | None for USDC | Free, per its docs page title | Not covered here |
| Settlement fee | "There is no settlement fee" | Not on the pages we read | Not on the pages we read | n/a |
| Regulator | CFTC designated contract market (Member Agreement, Oct 1, 2026) | "not regulated by the CFTC", per its footer; blocks US trading | CFTC-regulated designated contract market | Not covered here |
Seahawks at Broncos: the NFL fee math, step by step
These prices come from GhostLeg's Signal Board. Its Polymarket prices are polymarket.com's, which blocks US trading per its own notice; GhostLeg records no Polymarket US prices. At the close on October 15, 2026, Denver to win stood at 0.44 on Kalshi, 0.435 on polymarket.com and 0.435 as the devigged sportsbook consensus: a fair $43.50 for $100 back. These are stored closing probabilities, not guaranteed fills (a taker buys at the ask, which can be higher), so read this as an illustration. Every number below is our calculation from the published formula.
Kalshi, taker (NFL Game, multiplier 1):
- P x (1 - P) = 0.44 x 0.56 = 0.2464
- x 100 contracts = 24.64
- x 0.07 = $1.7248
- Position cost $44.00 + $1.7248 = $45.7248, already a whole centicent, so the round-up changes nothing.
- Kalshi's PDF table shows fees rounded up to the cent (its $0.25 row is $1.3125, printed $1.32). So: $1.7248 by the formula, $1.73 on a cent display, 3.92% of the $44 stake.
Kalshi, maker (resting order filled at 0.44): 0.0175 x 24.64 = $0.4312, or $0.44 on a cent display.
Polymarket (international, polymarket.com), taker at the published 0.05:
- 0.435 x 0.565 = 0.245775
- x 100 shares = 24.5775
- x 0.05 = $1.228875, rounded to five decimals: $1.22888, about $1.23 (2.83% of the $43.50 stake).
Each polymarket.com market carries its own fee parameters, which can differ from the category rate; a market's details show the rate that applies.
Polymarket US, hypothetical (the same 0.435 price assumed): 0.0695 x 24.5775 = $1.70813625, or $1.71 after banker's rounding. A filled resting order before October 19 would earn -0.0125 x 24.5775 = -$0.31, a rebate.
Sportsbooks: +130 returns $2.30 per $1 staked, stake included, so $100 back costs 100 / 2.30 = $43.48.
Outlay for $100 back on Denver
| Venue and order | Price | Fee | Outlay | Over fair ($43.50) |
|---|---|---|---|---|
| Kalshi, taker | 0.44 | $1.7248 ($1.73 on a cent display) | $45.72 to $45.73 | $2.22 |
| Kalshi, maker | 0.44 | $0.4312 | about $44.43 | about $0.93 |
| Polymarket (international, polymarket.com), taker | 0.435 | $1.22888 | $44.73 | $1.23 |
| Polymarket US, taker (HYPOTHETICAL price) | 0.435 | $1.71 | about $45.21 | about $1.71 |
| DraftKings | +130 | in the price | $43.48 | about -$0.02 |
| Pinnacle | +128 | in the price | $43.86 | $0.36 |
| FanDuel | +126 | in the price | $44.25 | $0.75 |
| BetMGM | +125 | in the price | $44.44 | $0.94 |
| Bovada | +125 | in the price | $44.44 | $0.94 |
| No-vig consensus | 0.435 | none | $43.50 | $0.00 |
Kalshi's taker cost is $0.50 of price gap (0.44 vs 0.435) plus the $1.7248 fee. DraftKings' +130 implies 0.4348, at or just past the consensus; +125 implies 0.444. This is one game, one side, at closing prices; another price or book reorders the table. Denver won 17-14, which changes none of these costs. GhostLeg's Data API is coming soon.
The vig sits on both sides
A book can be generous on Denver and costly on Seattle, and our Broncos data covers Denver only. For a two-sided read, take Houston Texans at Jacksonville Jaguars, a pre-game snapshot from October 16, 2026 at 18:04 UTC, not a close. Pinnacle's +128 and -144 imply 100 / 228 = 43.86% and 144 / 244 = 59.02%, summing to 102.88%: 2.88% vig. The same sum gives BetOnline and Bovada 3.63%, FanDuel 4.13%, DraftKings 4.32%, Fanatics 4.44% and BetMGM 4.64% (our calculation). Line Shopping shows that board for every game; our vig explainer covers the method.
Why the price level changes the fee
Both exchange formulas multiply by p x (1 - p), which peaks at 50 cents, so in dollars the fee is largest there: $1.75 per 100 on Kalshi, $1.25 on polymarket.com, $1.74 on Polymarket US. As a share of the stake, the fee is the coefficient x (1 - p): Kalshi takes 6.3% at $0.10, 3.5% at $0.50 and 0.7% at $0.90; polymarket.com at 0.05 takes 4.5%, 2.5% and 0.5%. As a share of the possible profit it is the coefficient x p instead. So a longshot buyer pays more per dollar risked, and a favorite buyer pays more per dollar of profit (our calculation, checked against Kalshi's $0.63 table fee on a $10 stake).
Maker vs taker: who pays
Kalshi charges takers only on orders that match immediately. Its maker multiplier defaults to 0, so a resting order is free unless its series is listed with maker fees; on October 16, 2026 the list included the NBA, WNBA, NFL and NHL game series, college football and basketball, and EPL and other soccer leagues (maker $0.02 to $0.44 per 100 contracts). No UFC or MLS series appeared, so those pay taker fees only. A maker fee applies only on execution, and canceling is free. The fee page showed "No upcoming fee changes scheduled."
Polymarket (international, polymarket.com): "Makers are never charged fees. Only takers pay fees." Sports makers share 15% of collected taker fees, paid daily in pUSD ($1 minimum), at Polymarket's "sole discretion". Its Taker Rebate Program (since May 28, 2026) returns 3% to 50% by volume, on terms that "can change at any time without notice".
Polymarket US (polymarket.us): from 1:00 PM ET on Monday, October 19, 2026, Polymarket US moves maker and taker rebates to volume-based tiers; taker fees are unchanged. The maker rebate (0.0125 on the same curve until then) becomes 0 below $10,000,000 of prior-month maker volume, and taker rebates start at 3% from $250,000, rising to 30% from $50,000,000.
Deposit and withdrawal fees
Kalshi (schedule effective July 7, 2026): ACH deposits and withdrawals are free; card deposits carry "a maximum fee of 2%"; wire deposits carry no Kalshi fee, though bank fees vary; crypto processor fees are "clearly disclosed prior to any associated transaction". Kalshi "reserves the right to charge between 0% and 2% fees on all rails". Its risk line: "Members risk losing their cost to enter any transaction, including fees." The regulatory side is in our guide to whether Kalshi is legit.
Polymarket (international, polymarket.com) charges "no Polymarket fees to deposit or withdraw USDC (though intermediaries like Coinbase or MoonPay may charge their own fees)." Polymarket US titles its withdrawal page "Withdraw your cash balance securely and for free." For differences beyond cost, see our Kalshi vs Polymarket comparison.
Kalshi and taxes
Kalshi's help center (June 22, 2026) says users who meet IRS reporting thresholds receive 1099-INT, 1099-MISC, 1099-B and 1099-DA forms, that it uses First-In-First-Out (FIFO) accounting, and that "The Profit and Loss (PnL) figure includes fees and any rebates." It is "not tax advice, and Kalshi cannot give members advice on their taxes." Consult a tax professional.
FAQ
How much does Kalshi charge per trade?
Takers pay round up(0.07 x C x P x (1 - P)) on most markets: $0.07 per 100 contracts at 1 or 99 cents, $1.75 at 50 cents. There is no settlement or membership fee.
Does Polymarket charge fees?
Polymarket (international, polymarket.com) charges takers only, at a published Sports rate of 0.05; geopolitics markets are fee-free. Polymarket US (polymarket.us) charges takers 0.0695, and its maker side is a rebate or zero.
Are Kalshi fees cheaper than sportsbook vig?
It depends on the price and the book. On the Broncos game at closing prices, a Kalshi taker paid $2.22 over the fair outlay, a Kalshi maker about $0.93, and five sportsbooks about -$0.02 to $0.94 (our calculation). That is one game and one side.
Do makers pay fees on Kalshi?
Only on series listed with maker fees, such as NFL Game: round up(0.0175 x C x P x (1 - P)), charged when the resting order fills. Canceling is free, and on markets outside the listed series a resting order pays nothing.
These Kalshi, polymarket.com and sportsbook prices sit side by side for every game on GhostLeg's Signal Board, and our market data API is coming soon.
For entertainment purposes only. Past performance does not indicate future results.