Kalshi fees are not complicated once you understand the structure, but they are often misunderstood. Kalshi does not charge a traditional sportsbook-style margin, and there is no settlement fee or membership fee. Instead, most users need to understand three things: the trading fee shown before execution, the bid-ask spread in each market, and any payment-method fees that may apply when funding or withdrawing from an account.

This guide explains how Kalshi fees work in 2026, what users actually pay, when costs matter most, and how Kalshi compares with other prediction market platforms.

Kalshi fee guide

Kalshi Fees: Quick Breakdown

Kalshi’s main cost is a transaction fee based on contract pricing and expected earnings. ACH deposits and ACH withdrawals have no Kalshi fee, but card deposits, crypto transfers, wire transfers, and market spreads can still affect your total cost.

What users should check first

Fast verdict

• Best for: Users who want transparent event-contract pricing.
• Watch out for: Spreads in less liquid markets.
• Most important fee: The trading fee shown before execution.
• Common misconception: “Deposits are always free.” ACH has no Kalshi fee, but other methods can carry costs.

ATS note: Always check the final fee preview before confirming a trade or transfer. Kalshi fees can vary by market type, payment method, and order behavior.

How Kalshi Fees Work

Kalshi charges trading fees differently from many platforms users may be familiar with. Rather than simply hiding a margin inside the price, Kalshi shows a fee before a trade is completed. The standard trading fee is based on the price of the contract, the number of contracts, and the expected earnings from that position.

In simple terms, Kalshi’s contracts trade between $0.01 and $0.99 and settle at either $1.00 or $0.00. A “Yes” contract priced at $0.40 costs $0.40 before fees and would pay $1.00 if it resolves in your favor. The potential gross profit before fees would be $0.60 per contract.

The important detail is that Kalshi’s fee is not best understood as a flat percentage of your deposit or a flat commission on every dollar moved through the account. It is tied to the contract and trade itself. Users should always look at the fee preview before confirming an order, especially when trading larger size or entering markets with special fee rules.

For a broader platform overview, see our full Kalshi review.

Kalshi Trading Fee Example

Here is a simplified example of how Kalshi trading fees can look in practice.

Example trade

Buying 100 contracts at $0.40

This example is based on the standard fee table. The final cost can differ by market type, order type, special fee schedule, or future fee updates.

For very small trades, rounding can make the fee look higher on a per-contract basis. For larger trades, the fee table gives a clearer view of the actual cost. The key point is simple: check the fee line before confirming the order rather than assuming every trade has the same effective rate.

Kalshi Deposit and Withdrawal Fees

Kalshi’s deposit and withdrawal costs depend on the payment method. This is where many fee summaries become too broad. It is not accurate to simply say that every deposit and withdrawal is free in every situation.

For most users, ACH is the most straightforward funding and withdrawal method. Card deposits may be convenient, but they can add a direct cost before you even enter a market. Crypto transfers can also carry processor costs, which makes it important to check the final transfer screen before confirming.

If you are evaluating Kalshi as part of a broader prediction market setup, our prediction markets hub gives more context on how these platforms work.

The Bid-Ask Spread: The Cost Users Often Miss

The bid-ask spread is not a Kalshi platform fee, but it can still affect your real cost. Every market has a price where users are willing to buy and a price where users are willing to sell. The gap between those prices is the spread.

For example, if a contract is available to buy at $0.60 but the best immediate sell price is $0.57, the spread is $0.03. If you entered and exited immediately, that gap would work against you.

This matters most in less liquid markets, fast-moving markets, and situations where you plan to trade in and out before settlement. In more active markets, the spread is usually tighter. In quieter markets, it can be wide enough to matter more than the displayed trading fee.

For a deeper look at execution quality, see our guide to Kalshi liquidity.

When Kalshi Fees Matter Most

Kalshi fees matter more for some users than others. If you place occasional trades, use ACH, and hold positions until settlement, the cost structure is usually easy to understand. Your main focus should be the fee preview and the market price you are accepting.

If you trade frequently, costs become more important. Repeated trading means more fee exposure, more interaction with the spread, and more chances to lose value through poor entry or exit prices. A user who enters 20 short-term positions in one day should pay much closer attention to execution than someone who makes one long-term market call and holds it.

Fees also matter more when using non-ACH payment methods. A card deposit fee or a third-party crypto processor fee can change the economics before the first trade is placed.

The practical takeaway: Kalshi can be low-cost, but the cheapest path usually means using ACH, avoiding thin markets, checking the spread, and reviewing the fee preview before every trade.

How to Minimize Kalshi Fees

The easiest way to reduce your total cost on Kalshi is to avoid treating the displayed trading fee as the only cost. The total cost is usually a combination of the fee, the spread, the payment method, and the timing of your entry.

• Use ACH when possible. ACH deposits and withdrawals have no Kalshi fee, making them the cleanest option for many users.
• Check the fee preview. Kalshi shows the fee before execution, so do not rely on estimates from old examples.
• Avoid wide spreads. A market can look attractive at first glance but become expensive if the gap between buy and sell prices is too large.
• Be careful with small trades. Rounding can make the fee feel more noticeable on very small positions.
• Trade liquid markets when possible. Better activity usually means tighter spreads and cleaner execution.
• Watch for special market fees. Some markets can have different fee schedules, including maker fees.

None of this means Kalshi is expensive by default. It means users should think like traders rather than casual app users. Price, spread, order type, and payment method all matter.

Kalshi Fees vs Polymarket and Sportsbooks

Kalshi, Polymarket, and traditional sportsbooks all create costs for users, but those costs show up in different ways. Kalshi is more transparent about direct trading fees. Polymarket is more focused on crypto-based market mechanics and spread. Sportsbooks usually build their margin directly into the odds.

The cleanest comparison is this: Kalshi shows users a trading fee, Polymarket users need to think more about crypto rails and liquidity, and sportsbooks generally hide more of the cost inside the price itself.

For a direct platform breakdown, read our Polymarket vs Kalshi comparison. You can also compare Kalshi with another regulated event-contract platform in our Kalshi vs PredictIt guide.

Are Kalshi Fees High or Low?

Kalshi fees are generally competitive for users who understand the platform and use low-cost funding methods. The fee structure is transparent compared with platforms that hide their economics inside odds or pricing, and ACH users can fund and withdraw without a Kalshi fee.

However, “low fee” does not mean “no cost.” A user who makes frequent trades, uses card deposits, enters thin markets, or ignores the spread may experience higher effective costs than expected. The platform is usually most cost-efficient when users trade selectively, check the order preview, and avoid unnecessary exits.

Kalshi is therefore best described as transparent rather than automatically free. The information is available before you confirm, but users still need to pay attention.

Testing Log and Verification

Last verified: May 2026

For this update, we reviewed Kalshi’s current public fee information and focused on the costs that matter most to users:

• Standard trading fee structure
• Example fees at common contract prices
• ACH deposit and withdrawal fees
• Card deposit fees
• Wire transfer language
• Crypto deposit and withdrawal fee language
• Market-specific and maker-fee disclosures

Fee schedules can change, and some markets may have different fee rules. Users should always confirm the final fee shown in the Kalshi order screen before placing a trade.

Full FAQ

Does Kalshi charge a settlement fee?

No. Kalshi does not charge a settlement fee.

Does Kalshi charge a membership fee?

No. Kalshi does not charge a membership fee.

How are Kalshi trading fees calculated?

Kalshi’s standard trading fee is based on the contract price, number of contracts, and expected earnings. The exact fee is shown before the trade is confirmed.

Do Kalshi fees vary by market?

Yes. Some markets can have different fee schedules, and some markets may include maker fees. Always review the fee preview before entering an order.

What is a maker fee on Kalshi?

A maker fee can apply in certain markets when an order is placed on the order book and later executed. Canceling a resting order does not create a fee by itself.

Is the bid-ask spread a Kalshi fee?

No. The spread is not a platform fee, but it is still an indirect cost because it affects the price you pay to enter or exit a position.

Is Kalshi cheaper than Polymarket?

It depends on payment method, market liquidity, and trade behavior. Kalshi has visible trading fees, while Polymarket users need to consider spread, crypto setup, and transfer costs.

What is the cheapest way to use Kalshi?

For many users, the lowest-cost approach is to use ACH, trade in liquid markets, avoid unnecessary exits, and check the fee preview before confirming any order.

Key Takeaways

• Kalshi’s main cost is the trading fee shown before execution.
• Kalshi does not charge a settlement fee or membership fee.
• ACH deposits and ACH withdrawals have no Kalshi fee.
• Debit card deposits can carry a fee of up to 2%.
• Crypto transfers may include third-party processor fees.
• The bid-ask spread is the main indirect cost to watch in active or low-liquidity markets.
• Some markets may have different fee rules, including maker fees.

Kalshi’s fees are generally transparent, but users should not treat the platform as cost-free. The best approach is to check the fee preview, use low-cost funding methods, and pay close attention to spread and liquidity before placing a trade.

Read More About Kalshi

• Kalshi Review: Our full breakdown of Kalshi’s platform, markets, strengths, and drawbacks.
• Is Kalshi Legal?: A state and regulatory overview of Kalshi’s legal position.
• Kalshi Liquidity: Why market depth and execution quality matter when trading event contracts.
• Polymarket vs Kalshi: Side-by-side comparison of the two major prediction market platforms.
• Kalshi vs PredictIt: How Kalshi compares with another regulated event-contract platform.