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Novig vs. Kalshi for sports trading

Novig is cheaper for pregame straight bets (no fee) and sports-only; Kalshi has more markets, a lower age minimum (18 vs. 21) and a longer track record. Most regular bettors are better off with both and buying wherever the price is better.

Sports Index Research Updated October 23, 2026

Key takeaways

Fees: Novig pregame straight trades are free; Kalshi charges a taker fee that peaks at 50¢.
Age: Kalshi 18+, Novig 21+. Novig excludes Arizona, Nevada and Michigan.
Parlays: both offer them (Kalshi Combos); Novig parlays can't be sold early.
Prices are usually within a cent before kickoff, so fees often decide which is cheaper.

Kalshi and Novig are the two biggest U.S. exchanges for trading sports. Both are CFTC-regulated, both price contracts that pay $1, and both list every major league. They differ on fees, who can sign up, how many markets they offer and how they handle parlays.

Kalshi and Novig compared (checked October 23, 2026)
	Kalshi	Novig
Regulator	CFTC designated contract market (since November 2020)	CFTC designated contract market (since June 16, 2026)
What it lists	Sports plus economics, politics, culture and more	Sports only
Pregame straight trade fee	Taker fee reported at 0.07 × P × (1 − P); maker fees on main game markets	None
Live trade fee	Same as pregame	Takers 0.06 × P × (1 − P); makers none
Parlays	Combos, priced by request for quote	Parlays, auctioned to liquidity providers; 0.10 fee in the quote; can't be sold
Spreads and totals	Listed	Half-point lines, so no pushes
Minimum age	18	21
Where	Depends on state court cases	Everywhere except Arizona, Nevada and Michigan
Card deposits	Debit may carry a 2% fee	3% (credit, debit, Apple Pay)
Bank deposits	Free	Free

Which is cheaper?

For pregame straight bets, Novig: it charges no fee, while Kalshi charges a taker fee of about 1.75¢ a contract at 50¢. For live trades, the two are close: 0.06 on Novig versus a reported 0.07 on Kalshi, both shaped as rate × P × (1 − P). Before kickoff the two usually price a game within a cent of each other, so the fee is often the deciding difference.

What a trade costs in feesFee on 100 contracts at each price: rate × contracts × price × (1 − price), rounded up to the cent

Sports Index

Source:

Novig's fee page (support.novig.com);

Kalshi's rate as reported by Allium and InGame; Sports Index calculation

See 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

Do they price games the same?

Mostly. Sports Index records both exchanges' prices for every college football game, and shortly before kickoff most games are within a cent.

Kalshi and

Novig usually agree within a centGap between the two exchanges' home-team price shortly before kickoff, 109 college football games, last 21 days

Sports Index

Source: Sports Index captures of

Kalshi and

Novig prices · Data through October 23, 2026

See the data

Gap	Games	Share
Under 1¢	90	83%
1¢ to 2¢	15	14%
2¢ to 3¢	1	1%
3¢ to 5¢	2	2%
5¢ or more	1	1%

When they do differ, a cent or two on a 50¢ contract is a 2–4% better return when it wins, more than either exchange's fee. That's why regular traders keep accounts on both. See line shopping between Kalshi and Novig.

Which has more markets?

Kalshi. It lists game, spread and total markets plus team props, player props in the NFL, quarter and half lines, and deep futures (the Heisman, the College Football Playoff, conference champions), alongside non-sports markets. Novig is sports-only, with winner, spread, total, first-half, team total, player prop and futures markets in its main leagues.

Which is better for parlays?

Both price parlays on request. Novig allows 2 to 20 legs, including same-game legs with limits, and builds a 0.10 × P × (1 − P) fee into the quote; its parlays can't be sold once filled. Kalshi Combos each get their own order book, fills aren't guaranteed, and a filled combo can't be cancelled. See parlays explained.

Who can use each?

Kalshi: 18 or older, with ID verification. State access depends on ongoing court cases.
Novig: 21 or older, everywhere except Arizona, Nevada and Michigan, judged by your device's location each time you trade.

See where you can trade.

Which should you use?

Mostly pregame straight bets: Novig is cheaper; check Kalshi's price anyway.
Futures, Heisman or college props: Kalshi lists more.
Under 21: Kalshi (18+).
In Arizona, Nevada or Michigan: Novig isn't available, and court rulings restrict Kalshi's sports markets in Nevada and Michigan too. Check Kalshi's app from where you are.
Bet regularly: both, buying wherever the all-in price is better.

More on each: how Kalshi works and how Novig works.

Frequently asked questions

Is Novig or Kalshi cheaper?

For pregame straight trades, Novig, which charges no fee. For live trades both charge a taker fee of similar size: 0.06 on Novig versus about 0.07 on Kalshi.

Which has more sports markets?

Kalshi lists more market types, including more futures and props, across sports and non-sports categories. Novig is sports-only.

Can I use both Kalshi and Novig?

Yes. They are separate exchanges with separate accounts, and many traders compare both before every trade.

Sources

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

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.