Best Election Markets 2026: Where to Trade US Election Outcomes (Kalshi, Polymarket, Robinhood, PredictIt)
How we make money: we earn a commission if you sign up for Polymarket or subscribe to KalshiSpy through our links. We earn nothing from Kalshi, Robinhood, FanDuel, DraftKings, Novig or OG. Rankings are not for sale. Full disclosure
Just want the picks? Jump to the verdict. Already trading? Skip to the comparison table and state table. New here? Read how event contracts work first.
Four US venues list contracts on the 2026 midterms and early 2028 races. Our ranking follows our platform scores: Kalshi (4.6/5), Polymarket US (4.5/5) and Robinhood (4.0/5). PredictIt is listed but not scored. Kalshi has the strongest legal footing on US election contracts and most of the volume. Polymarket US has the broadest menu of candidate and global election markets, where your state allows it. Robinhood suits existing customers. PredictIt is for small positions. Scores are explained in our methodology.
The picks at a glance
| Rank | Platform | Score | Best for | Main caveat |
|---|---|---|---|---|
| 1 | Kalshi | 4.6/5 | US election contracts on a CFTC exchange, dollar funding | Election contracts blocked in Nevada and Washington |
| 2 | Polymarket US | 4.5/5 | Multi-candidate markets, down-ballot and foreign elections | Not available in AZ, IL, MA, MD, MI, MT, NV, OH |
| 3 | Robinhood | 4.0/5 | Headline races inside an existing Robinhood account | Smaller menu |
| n/a | PredictIt | Not scored | Small-position forecasting | $3,500 per-market limit, high fees |
By type of trader:
- Wants the clearest federal legal status and dollar funding → Kalshi
- Wants the most candidate and international markets → Polymarket US, where available
- Already uses Robinhood → Robinhood
- Wants small research positions and a long record of resolved markets → PredictIt
How we ranked them
We weighed four things, roughly in this order:
- Volume and order-book depth. You need to trade without moving the price. We used DeFi Rate's venue-share data for September 16 to October 15, 2026.
- Legal status and state access. A deep market is useless if your state is blocked. We used OddsShopper's October 15, 2026 Kalshi tracker, the reported Polymarket US restricted list and Robinhood's support pages.
- Fees. We used each platform's published formula at a $100 trade size.
- Resolution rules. Election contracts have settled badly in the past on vague wording, so we read each platform's settlement rules.
Overall scores come from our methodology.
1. Kalshi: best for US election contracts (4.6/5)
Best for: US traders who want election contracts on a CFTC-regulated exchange, funded in dollars.
Kalshi is the reason election contracts are legal on US exchanges. The CFTC blocked its congressional-control contracts in 2023; Kalshi sued and won in federal district court in September 2024. The D.C. Circuit declined to pause the ruling in October 2024, Kalshi listed election contracts before the November vote, and the CFTC dropped its appeal in May 2025 (Covers). Kalshi now lists the 2026 midterms, individual races, control of Congress and early 2028 lines, and it handled about 76% of tracked prediction-market volume from mid-September to mid-October 2026 (DeFi Rate).
What you get:
- CFTC designated contract market status since November 2020
- dollar funding by ACH, debit card or wire, with no crypto at any step
- a variable 3.50% APY on balances of $250 or more (Kalshi help center, October 2026)
- contract rules that name the settlement source, self-certified with the CFTC
State limits. Kalshi's election contracts are blocked for anyone located in Nevada, under a state-court injunction enforced by geofence, and for Washington users under an August 13, 2026 court order (OddsShopper). Earlier versions of this page said election contracts were unaffected by state challenges. That is no longer true.
Fees. The taker fee is 0.07 × contracts × price × (1 − price). At 50 cents that is about $1.75 per 100 contracts, or roughly $3.50 per $100 put in, falling to a few cents at extreme prices (DeFi Rate fee guide).
Visit kalshi.com → (we earn nothing from Kalshi sign-ups)
Full review: Kalshi. Head to head: Kalshi vs Polymarket.
2. Polymarket US: best for candidate and global election markets (4.5/5)
Best for: traders who want multi-candidate markets, down-ballot races and elections outside the US.
Polymarket became the best-known election market in 2024, when its presidential-winner market passed $3 billion in volume before the vote (The Block). That was on its international exchange, which US users were not allowed to use. Its US app now runs on QCX, the CFTC-licensed exchange Polymarket bought for $112 million in July 2025, under an amended CFTC order announced November 25, 2025 (Covers). Earlier versions of this page misdated that deal and cited an unsourced 2024 volume figure. Both have been corrected.
Polymarket is no longer the volume leader. From September 16 to October 15, 2026, Polymarket US had about 12% of tracked volume and the international exchange about 5% (DeFi Rate).
What you get:
- multi-outcome markets ("Who wins the 2028 Republican nomination?" with one row per candidate)
- US down-ballot and international elections
- legislative, confirmation and executive-action markets
- prices that the Wall Street Journal and other Dow Jones titles now display under a January 2026 data deal (Business Wire)
Fees. Since July 1, 2026 the US app has charged takers. The current fee is 0.0695 × contracts × price × (1 − price): about $1.74 per 100 contracts at 50 cents, or about $3.48 per $100 put in. Makers earn a rebate (Polymarket US fee schedule, October 2026). The old "no fees" line no longer applies.
State limits. Polymarket US is widely reported as unavailable in Arizona, Illinois, Massachusetts, Maryland, Michigan, Montana, Nevada and Ohio (OddsShopper). Funding is in dollars by card, bank transfer, wire or Apple Pay.
Open a Polymarket account → (affiliate link: we earn a commission if you sign up)
Full review: Polymarket.
3. Robinhood: best for headline races in a brokerage app (4.0/5)
Best for: Robinhood customers who want to trade the big races in the app they already use.
Robinhood began offering election contracts in late 2024 and now runs a prediction-markets hub. It lists fewer markets than Kalshi or Polymarket: control of Congress, headline Senate and governor races, presidential lines. Contracts route to KalshiEX, ForecastEx, Rothera or Crypto.com's North American Derivatives Exchange (Robinhood).
What to know:
- Commission is 10% × price × (1 − price) per contract (5% with Gold), capped at $0.01, plus exchange fees of up to $0.01.
- Your Robinhood cash balance funds trades directly.
- You must be 18. Robinhood's listed state limits apply to sports, not politics, but the app shows what your account can trade.
- Third-party candidates, smaller state races and foreign elections are usually missing.
Visit Robinhood prediction markets → (we earn nothing from Robinhood sign-ups)
Full review: Robinhood.
PredictIt: small positions and a long record (not scored)
PredictIt has run US political markets since 2014, first under Victoria University of Wellington and now under a US nonprofit, the Prediction Market Research Consortium. It operates under CFTC no-action relief. A July 2025 CFTC letter raised its per-market limit from $850 to $3,500 and removed the 5,000-trader cap (CFTC Letter 25-20). Fees are 10% of profits and 5% on withdrawals (StartPolymarket review).
Its menu is smaller and its listings slower than the exchanges'. Its value is a long history of resolved US markets and a community of forecasters and researchers. It does not run partner promo codes, and we earn nothing from it.
Comparison table
| Feature | Kalshi | Polymarket US | Robinhood | PredictIt |
|---|---|---|---|---|
| Our score | 4.6/5 | 4.5/5 | 4.0/5 | Not scored |
| Share of tracked volume (Sep 16–Oct 15, 2026) | ~76% (all categories) | ~12% (all categories) | Rothera ~1%; other routes counted under their exchanges | Not tracked |
| Regulation | CFTC designated contract market | CFTC-licensed exchange (QCX) | CFTC-registered broker | CFTC no-action relief |
| Where available | All states; election contracts blocked in NV and WA | Not in AZ, IL, MA, MD, MI, MT, NV, OH | Per Robinhood's state list | Per PredictIt's terms |
| Limit per market | Exchange limits | Exchange limits | Robinhood limits | $3,500 |
| Fee at 50 cents, per $100 put in | ~$3.50 | ~$3.48 | Up to ~$4.00 | No trading fee; 10% of profit, 5% on withdrawals |
| Funding | ACH, debit card, wire | Card, bank transfer, wire, Apple Pay | Robinhood balance | Bank, card |
| Settlement rules | Named source in contract rules | Named source in contract rules | Per underlying exchange | Per PredictIt rules |
| 2026 midterm coverage | Congress control and individual races | Congress control, individual races, down-ballot | Headline races | Major races |
Sources: DeFi Rate volume and fees, Polymarket US fees, Robinhood, CFTC. Volume shares cover all categories, not only elections.
Bellwether brand system overview: election market dashboard, colour palette, typography
2026 midterm markets to watch
The questions trading on each platform this cycle. Specific markets come and go as races settle.
Kalshi:
- control of the House and Senate after 2026
- individual Senate, House and governor races
- turnout milestones
- early 2028 presidential nominee lines
Polymarket US:
- the same control-of-Congress questions
- close Senate and House races, often with more down-ballot coverage
- 2026 governor races in states such as Ohio, Georgia, Michigan, Arizona and Nevada
- 2028 nominee markets with one row per candidate
- special elections and confirmation votes
PredictIt:
- 2028 primary markets
- generic-ballot and approval-rating thresholds
- selected battleground races
Robinhood:
- House and Senate control
- a few headline races
- approval-rating thresholds
For live prices on the closest races, see our 2026 midterm tracker.
Fees on a $100 trade at 50 cents
| Platform | Fee | Notes |
|---|---|---|
| Kalshi | ~$3.50 | 200 contracts × $0.0175; 3.50% APY on balances of $250+ |
| Polymarket US | ~$3.48 | 200 contracts × about $0.0174; makers earn a rebate |
| Robinhood | Up to ~$4.00 | $0.01 commission cap plus up to $0.01 exchange fee per contract |
| PredictIt | $0 to trade | 10% of profit and 5% on withdrawal |
On 50-cent contracts, Kalshi and Polymarket US now cost almost the same. Fees matter most for arbitrage, where you pay on both legs, and for large positions. Posting limit orders as a maker lowers costs on both.
Arbitrage. Prices on the same race sometimes differ between Kalshi and Polymarket US. Before treating a gap as free money, check that both contracts settle on the same event, source and date. They often do not.
State availability
This changes fast. Check each platform's sign-up screen before depositing.
| State | Kalshi (elections) | Polymarket US | Robinhood | PredictIt |
|---|---|---|---|---|
| California | Available | Available | Available | Check terms |
| Texas | Available | Available | Available | Check terms |
| Florida | Available | Available | Available | Check terms |
| New York | Available (state suit pending) | Available | Available | Check terms |
| New Jersey | Available | Sources conflict | Available | Check terms |
| Illinois | Available | Not available | Available | Check terms |
| Massachusetts | Available | Not available | Available | Check terms |
| Nevada | Blocked | Not available | Available (no sports) | Check terms |
| Washington | Blocked | Available | Check app | Check terms |
| Arizona, Maryland, Michigan, Montana, Ohio | Available | Not available | Available | Check terms |
Sources: OddsShopper Kalshi tracker (October 15, 2026), OddsShopper Polymarket guide, Robinhood.
If you live in one of the eight states Polymarket US does not serve, Kalshi is the default, unless you are in Nevada or Washington, where its election contracts are also blocked.
State guides: California, Texas, Florida, New York, New Jersey, Illinois, Massachusetts, Nevada.
Verdict
Kalshi (4.6/5) is our top pick for US election trading: the clearest federal legal position, dollar funding, most of the volume and interest on idle cash.
Polymarket US (4.5/5) is the pick for the widest candidate, down-ballot and international menu, in the states where it operates.
Robinhood (4.0/5) is the easy option for existing customers who want the headline races.
PredictIt is worth knowing for small positions and research, despite high fees.
Many active election traders keep both Kalshi and Polymarket US accounts and compare prices on the same races.
Where to sign up
- Kalshi: visit kalshi.com → (no commission to us)
- Polymarket US: open an account → (affiliate link)
- Robinhood: prediction markets on Robinhood → (no commission to us)
- Opening several? See our sign-up guide.
- Legal background: can you bet on elections in the US?
Optional tool: KalshiSpy → is a paid third-party analytics service that tracks large Kalshi traders. It is not Kalshi, and we earn a commission if you subscribe.
Frequently asked questions
Which is the best platform for election markets in 2026?
Kalshi, by our scores (4.6/5): CFTC-regulated, dollar-funded and the largest by volume. Polymarket US (4.5/5) has the broadest candidate and international menu where it operates. Robinhood (4.0/5) suits existing customers. PredictIt is for small positions.
Is it legal to trade election markets in the US?
Yes, on CFTC-regulated exchanges. Kalshi won its election-contract case in September 2024, and the CFTC dropped its appeal in May 2025. Nevada and Washington courts have since blocked Kalshi's election contracts in those states. See can you bet on elections?
How much volume did Polymarket do on the 2024 election?
Its presidential-winner market alone passed $3 billion before election day, according to The Block. That was on the international exchange, which US users could not use.
When did Kalshi start listing election contracts?
In October 2024, after its September district-court win and the D.C. Circuit's refusal to pause it. The 2024 presidential race was its first major political cycle.
Can I arbitrage between Polymarket and Kalshi on elections?
Sometimes. Check that both contracts settle on the same event, source and date. Fees on both legs eat most small gaps, and one side may be too thin for a real position.
What is PredictIt's limit?
$3,500 per market, since a July 2025 CFTC letter. It was $850 before.
Is Robinhood good for election trading?
For headline races, yes, especially if you already have an account. For third-party candidates, small state races or foreign elections, its menu is too thin.
Which states block which platforms?
Polymarket US: AZ, IL, MA, MD, MI, MT, NV and OH. Kalshi's election contracts: Nevada and Washington. Robinhood: check the app. See are prediction markets legal?
What are the fees?
At 50 cents, per $100 put in: Kalshi about $3.50, Polymarket US about $3.48, Robinhood up to about $4.00. PredictIt charges no trading fee but takes 10% of profits and 5% on withdrawals.
What welcome offers are there?
They change often and vary by state. Kalshi and Polymarket show their current offers during sign-up; PredictIt has none. We do not list amounts we have not confirmed. See our promo code pages for dated offers.
Keep reading: Kalshi review · Polymarket review · Robinhood review · Kalshi vs Polymarket · how prediction markets work · is Polymarket safe? · best politics markets
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