Polymarket alternatives
Last updated · how we verify
Kalshi is the only close alternative to Polymarket, and it is US-only.
It uses a near-identical fee formula (0.07 × price × (1 − price)) but is custodial and
fiat-funded. PredictIt is far more expensive — 10% of net profit per market plus
5% on withdrawals. Manifold is play-money, not a trading venue. Sportsbooks bury their margin
in the price instead of charging a visible fee.
At a glance
| Platform | Cost model | Custody | Available | Real money |
|---|---|---|---|---|
| Polymarket | Per-category taker fee, peaks at 50¢. No maker fee, 20–25% rebates. | Non-custodial (intl) / intermediated (US) | Global except blocked list; US via Polymarket US | Yes |
| Kalshi | 0.07 coefficient, same price-weighted curve. Maker ≈ ¼ of taker. | Custodial — Kalshi holds member funds | US only | Yes |
| PredictIt | 10% of net profit per market + 5% on withdrawals | Custodial | US only | Yes |
| Manifold | No trading fee | n/a | Global | No — play currency |
| Sportsbooks | Margin built into the price (no visible fee) | Custodial | Varies by jurisdiction | Yes |
The comparisons in full
Polymarket vs Kalshi
The only genuinely close comparison. Near-identical fee maths, opposite custody models, and Kalshi cannot be used outside the US.
Polymarket vs PredictIt
PredictIt charges 10% of net profit per market plus 5% on withdrawals and has position limits. A different era of product.
Polymarket vs Manifold
Manifold is play-money. Excellent for learning the mechanics with nothing at stake, not an alternative for trading.
Polymarket vs sportsbooks
Exchange pricing versus built-in margin, and the ability to exit a position before the event finishes.
Why the fee comparison is usually reported wrong
Two errors dominate. The first is describing Polymarket as charging a flat percentage — it does not. The second is describing Kalshi as charging "7%", which mistakes the 0.07 coefficient in a price-weighted formula for a percentage of stake. The old site claimed a flat '7% fee' for Kalshi. That is wrong — 0.07 is a coefficient in a price-weighted formula, not a 7% charge. At a 50c contract the fee is about $1.75 per 100 contracts, i.e. ~1.75% of notional.
Both platforms use coefficient × price × (1 − price). The meaningful differences are the
coefficient per category, whether makers are charged, and whether rebates exist.
| Category | Fee rate | Peak fee / 100 shares | Maker fee | Maker rebate |
|---|---|---|---|---|
| Geopolitics free | 0 | $0.00 | $0.00 | — |
| Finance | 0.04 | $1.00 | $0.00 | 25% |
| Mentions | 0.04 | $1.00 | $0.00 | 25% |
| Politics | 0.04 | $1.00 | $0.00 | 25% |
| Tech | 0.04 | $1.00 | $0.00 | 25% |
| Culture | 0.05 | $1.25 | $0.00 | 25% |
| Economics | 0.05 | $1.25 | $0.00 | 25% |
| Other / General | 0.05 | $1.25 | $0.00 | 25% |
| Sports | 0.05 | $1.25 | $0.00 | 20% |
| Weather | 0.05 | $1.25 | $0.00 | 25% |
| Crypto | 0.07 | $1.75 | $0.00 | 20% |
Source: help.polymarket.com, help.polymarket.com · verified 17 August 2026
Source: help.polymarket.com, thelines.com · verified 17 August 2026
Availability varies by jurisdiction. 18+. Event contracts carry risk of loss.
You appear to be in the US. Polymarket’s international exchange blocks US IP addresses — use Polymarket US, the CFTC-regulated exchange, instead. See what’s available in your state.
Choosing
| If you want… | Pick |
|---|---|
| Lowest cost, especially as a maker | Polymarket |
| To trade from outside the US | Polymarket — the others are US-only |
| A custodial fiat account with US regulation | Kalshi or Polymarket US |
| Self-custody of your funds | Polymarket international |
| Desktop web trading in the US | Kalshi — Polymarket US has no web platform yet |
| To practise with nothing at risk | Manifold |
| Politics markets only, and you already have an account | PredictIt, but it is expensive |
Note the fifth row: if you are a US desktop trader, Kalshi genuinely beats Polymarket US today, and no amount of fee advantage changes that until the web platform ships.
Questions
What is the closest alternative to Polymarket?
Kalshi. It is the other main CFTC-designated contract market, it uses a structurally identical fee formula (fee per contract = ceil(0.07 × price × (1 − price) × 100) / 100), and it faces the same state-by-state legal disputes. The big differences are custody — Kalshi is custodial and fiat-funded — and that it is US-only. Full comparison.
Which is cheapest?
Polymarket, on both sides of the book. Its maker fee is $0 — makers are never charged with rebates of 20–25%, and Geopolitics markets are free entirely. Kalshi's taker coefficient (0.07) matches Polymarket's most expensive category rather than its cheapest.
Are there alternatives outside the US?
Kalshi and PredictIt are both US-only, so neither substitutes for Polymarket internationally. Outside the US the realistic comparison is against licensed betting exchanges such as Betfair or Smarkets, which are regulated as gambling rather than as derivatives. Country availability.
Related
Polymarket fees
The full schedule with worked examples.
US access
What Polymarket US does and does not offer.
By state
Both Kalshi and Polymarket face the same disputes.
By country
Where each platform is usable.
All figures on this page verified 17 August 2026 against primary sources where reachable. Unconfirmed values are marked.