Kalshi fees confuse people because they are not a flat percentage. They scale with the price of the contract, which means the same trade can cost very different amounts depending on how likely the outcome is.
Short answer: Kalshi charges a trading fee that peaks on 50/50 markets and shrinks toward the extremes. The taker fee is about 7 cents times the price times one minus the price, per contract. Deposits and bank withdrawals are free.
This guide breaks down the formula in plain terms, shows a fee table, explains maker versus taker, and lists what is actually free.
TL;DR
- Kalshi fees are not flat; they scale with the contract price.
- The taker fee is highest at 50 cents (about 1.75 cents per contract) and lowest near 1 or 99 cents.
- Maker orders cost roughly a quarter of the taker fee.
- There is no settlement fee and no membership fee.
- ACH deposits and withdrawals are free.
- The practical takeaway: the more one-sided your contract, the less you pay.
How Kalshi Fees Work
Kalshi charges a trading fee based on the price of the contract you trade, not a fixed percentage of your stake.
Two ideas explain almost everything:
- a contract trades between 1 cent and 99 cents, where the price is the market's implied probability
- the fee is largest in the middle, around 50 cents, and smallest at the edges, near 1 or 99 cents
So a coin-flip market is the most expensive to trade, and a heavy favorite or longshot is the cheapest.
The Trading Fee Formula
The taker fee per contract is approximately:
fee = 7 cents x C x (1 - C)
where C is the contract price as a decimal between 0.01 and 0.99.
A quick read of the formula:
- at C = 0.50, the fee is 7 x 0.50 x 0.50 = 1.75 cents, the maximum
- as C moves toward 0.01 or 0.99, the (1 - C) or C term shrinks the fee toward a fraction of a cent
The charge is applied per contract, so your total fee scales with how many contracts you trade.
Fee by Contract Price
Approximate taker fee per contract at different prices:
| Contract price | Taker fee per contract |
|---|---|
| 10 cents | about 0.63 cents |
| 25 cents | about 1.31 cents |
| 50 cents | about 1.75 cents (max) |
| 75 cents | about 1.31 cents |
| 90 cents | about 0.63 cents |
The curve is symmetric: a 10-cent longshot and a 90-cent favorite cost the same in fees, because the formula is the same on both sides.
Maker vs Taker Fees
Kalshi runs an order book, so it matters whether your order takes liquidity or provides it.
- Taker orders execute immediately against the best price on the book. You pay the full fee from the formula above.
- Maker orders are limit orders that rest on the book until someone matches them. You pay roughly one quarter of the taker fee.
So at a 50-cent price, a taker pays about 1.75 cents while a maker pays roughly 0.44 cents. If you are patient and post limit orders, you pay meaningfully less.
What Is Free on Kalshi
Not everything carries a fee. On Kalshi:
- there is no settlement fee when a market resolves
- there is no membership fee
- ACH deposits from your bank are free
- ACH withdrawals to your bank are free
The trading fee is the main cost to plan around. Funding the account and cashing out by bank do not add to it.
Why the Fee Shape Matters
The scaling fee changes how you should think about cost.
- On balanced markets near 50 cents, the fee is at its highest, so frequent in-and-out trading there adds up.
- On lopsided markets, the fee is small, so conviction trades on clear favorites or longshots are cheap.
- Using limit (maker) orders cuts the fee to about a quarter, which is the simplest way to lower your cost.
If you want to weigh this against another platform's costs, compare it with Polymarket and the rest of the field before you trade.
Frequently Asked Questions
How much are Kalshi fees?
The taker trading fee is about 7 cents times the price times one minus the price, per contract. It peaks at roughly 1.75 cents on a 50-cent contract and falls toward a fraction of a cent near 1 or 99 cents.
Does Kalshi charge deposit or withdrawal fees?
No. ACH deposits from your bank and ACH withdrawals to your bank are free.
What is the difference between maker and taker fees on Kalshi?
Taker orders execute immediately and pay the full fee. Maker orders rest on the order book and pay roughly a quarter of the taker fee.
Why are Kalshi fees higher on 50/50 markets?
The fee formula scales with price times one minus price, which is largest at 50 cents. The more uncertain the market, the higher the per-contract fee.
Is there a settlement fee on Kalshi?
No. There is no settlement fee when a market resolves, and no membership fee.
Conclusion
Kalshi fees come down to one idea: you pay the most on coin-flip markets and the least on lopsided ones, with maker orders cutting the cost to about a quarter.
The clean rule is:
balanced markets cost more, conviction and limit orders cost less
To put this in context, browse the Kalshi hub on CoinRithm, compare prediction market platforms, or read Kalshi vs Polymarket. For cashing out, see How to Withdraw from Kalshi.
Last Updated: June 30, 2026
Disclaimer: This article is for educational purposes only and is not financial advice. Fee schedules can change. Always confirm the current Kalshi fee schedule before trading.
