Kalshi Trading Fees

Kalshi charges a per-contract trading fee of max(1¢, ceil(0.07 × p × (1-p) × 100)), capped at 7¢. Fees are highest near 50¢ (peak ~1.75¢) and lower at extremes.

Kalshi is a regulated exchange, not a sportsbook. Instead of pricing in a vig, Kalshi charges an explicit per-contract trading fee. The formula:

Fee per contract = max(1¢, ceil(0.07 × p × (1-p) × 100))

Where p is the price as a fraction (0.00 to 1.00). The fee is symmetric for both buy and sell trades and is capped at 7¢ per contract.

Fee profile by price: - 1¢: 1¢ fee (min) - 10¢: 1¢ fee (formula gives 0.63, rounded up to 1) - 25¢: 2¢ fee - 50¢: 2¢ fee (peak — formula gives 1.75, rounded up to 2) - 75¢: 2¢ fee - 90¢: 1¢ fee - 99¢: 1¢ fee

Compare to sportsbook vig: a 50% market with 5% vig costs you 2.5¢ per dollar even before you place any bet. Kalshi's 2¢ at the same price is competitive. For futures with 20% vig at sportsbooks, Kalshi's flat fee structure is far cheaper.

SportsBookISH computes edge "net of fee" for Pro+ users, subtracting the Kalshi fee from raw edge before recommending buy/sell. Free users see gross edge.

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