Kalshi fees explained
Kalshi charges a transaction fee on the expected earnings of each trade, so it is largest at a 50¢ price. Third-party analyses put the taker rate at 0.07 × contracts × price × (1 − price): about $1.75 on 100 contracts at 50¢.
Key takeaways
- Kalshi's trading fee is highest at 50¢ and small near 1¢ and 99¢.
- Its main college football, NFL and NBA game markets also carry maker fees, charged only when a resting order fills.
- ACH and wire deposits are free; debit cards may cost 2%; withdrawals to bank or debit are free.
- Cancelling an order is free.
Kalshi makes its money from trading fees. They're small next to sportsbook vig on most trades, but they vary a lot with the price you trade at, and they decide whether Kalshi or 
Novig is cheaper for a given bet.
How does the Kalshi trading fee work?
Kalshi charges "a transaction fee on the expected earnings on the contract." The exact formula is in its fee schedule, and third-party analyses of that schedule (Allium, InGame) describe the taker fee as:
fee = 0.07 × contracts × price × (1 − price), rounded up
The fee is largest at 50¢ and falls toward 1¢ and 99¢. Kalshi notes that some markets, such as a large sporting championship, carry different fees.
| Price | Taker fee per contract | On 100 contracts | Share of cost |
|---|---|---|---|
| 5¢ | 0.33¢ | $0.34 | 6.8% |
| 10¢ | 0.63¢ | $0.63 | 6.3% |
| 25¢ | 1.31¢ | $1.32 | 5.3% |
| 50¢ | 1.75¢ | $1.75 | 3.5% |
| 75¢ | 1.31¢ | $1.32 | 1.8% |
| 90¢ | 0.63¢ | $0.63 | 0.7% |
As a share of what you pay, the fee is heaviest on long shots: about 6–7% of a 5¢–10¢ contract's price versus under 2% on a 75¢ favorite.
Sports Index
Novig's fee page (support.novig.com); Kalshi's rate as reported by Allium and InGame; Sports Index calculationSee the data
| Price | Kalshi taker (0.07) | Novig live taker (0.06) | Novig pregame |
|---|---|---|---|
| 5¢ | $0.34 | $0.29 | $0.00 |
| 10¢ | $0.63 | $0.54 | $0.00 |
| 25¢ | $1.32 | $1.13 | $0.00 |
| 50¢ | $1.75 | $1.50 | $0.00 |
| 75¢ | $1.32 | $1.13 | $0.00 |
| 90¢ | $0.63 | $0.54 | $0.00 |
| 95¢ | $0.34 | $0.29 | $0.00 |
Does Kalshi charge maker fees?
On some markets. Kalshi's market data shows its main sports series carrying maker fees, including the college football, NFL, NBA and college basketball game markets and their spreads and totals. A maker fee is charged only when your resting limit order is filled; cancelling an order is free. Many props and quarter or half lines carry the standard taker-style fee only.
What do deposits and withdrawals cost?
| Method | Fee |
|---|---|
| ACH bank deposit | Free (about 5 business days to settle) |
| Wire deposit | Free ($1,000 minimum) |
| Debit card deposit | May incur a 2% processing fee |
| Bank withdrawal | No fee (a few business days) |
| Debit card withdrawal | No fee (usually within hours) |
Card and ACH deposits are available to withdraw once they settle; PayPal, Venmo, crypto and wire deposits have no hold.
Does Kalshi have incentive programs?
Kalshi runs a Liquidity Incentive Program that rewards resting orders, scheduled through January 1, 2027, and separate incentive programs for Combos and some sports prop legs. Kalshi says it can end or change the programs at any time.
How do you pay less on Kalshi?
- Deposit by ACH or wire rather than debit card.
- Mind the price. Fees are a bigger share of cheap contracts; a 5¢ long shot loses about 7% to fees before it starts.
- Compare with Novig, which charges no fee on pregame straight trades. See Novig vs. Kalshi.
- Trade less often. Every round trip (buy, then sell early) pays the fee twice.
Frequently asked questions
How much does Kalshi charge per trade?
Kalshi charges a fee on expected earnings. Analyses of its schedule put the taker fee at 0.07 × contracts × price × (1 − price), rounded up: 1.75¢ per contract at 50¢ and about 0.63¢ at 10¢.
Does Kalshi charge to withdraw?
Kalshi lists no fee for bank or debit card withdrawals.
Are there deposit fees on Kalshi?
Bank (ACH) and wire deposits are free. Debit card deposits may carry a 2% processing fee.
Sources
- Kalshi Help Center: Fees
- Allium: Kalshi fees, why the cost peaks near 50 cents
- Kalshi Help Center: Card deposits
- Kalshi Help Center: Transfers FAQ
- Kalshi Help Center: Bank withdrawals
Facts that change, such as fees, rules and where each exchange operates, were checked on the date above. Check the exchange's own pages before you trade.
Sports Index Markets Every college football price in one place Novig and Kalshi side by side, with price history, strategies with graded records and the twice-weekly Betting Roundup. Open Markets →Keep reading
Prediction market fees: Kalshi vs. NovigKalshi vs. Novig fees: trading fees by price, maker vs. taker, parlays, deposits and withdrawals, with a fee chart and a worked $100 example.
How Kalshi works for sportsHow to trade sports on Kalshi: Yes and No contracts, prices as probabilities, quick and limit orders, selling early, settlement and deposits.
Limit orders vs. market ordersA market order fills now at the best price; a limit order waits for yours. How each works on Kalshi and Novig, and what happens at kickoff.
Sports Index publishes research and paper picks; it is not a sportsbook or an exchange and takes no bets. Trading on prediction markets risks real money. You must meet the exchange's age requirement and be in an eligible state. If gambling is a problem for you or someone you know, call or text 1-800-GAMBLER.