Kalshi Alternatives (2026): 7 Regulated Options Compared

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Quick picks. For politics and world events: Polymarket US. For trading inside an app you already use: Robinhood. For sports with the lowest fees: Novig. For DraftKings or FanDuel customers: their own prediction apps. Kalshi itself is still the largest US prediction market, so start with why you are leaving.

Kalshi is the biggest regulated prediction market in the US, and for most macro, political and economic markets it has the deepest order books. People look for alternatives for four reasons: Kalshi blocks a category in their state, they want lower fees on sports, they want a market Kalshi does not list, or they want a second venue to compare prices. Each reason points to a different alternative.

All seven below are CFTC-regulated in the US or route orders to a CFTC-regulated exchange. We do not cover offshore sites.

The alternatives at a glance

Platform	Best for	Fees	Where
Polymarket US	Politics, world events, crypto	Taker 0.0695 × p × (1 − p)	Not in AZ, IL, MA, MD, MI, MT, NV, OH
Robinhood	Existing Robinhood users	Up to $0.01 commission + up to $0.01 exchange fee per contract	In the Robinhood app; sports vary by state
DraftKings Predictions	DraftKings customers	$0.01–$0.02 per contract	48 states, sports in 18
FanDuel Predicts	States without a legal sportsbook	Exchange fees	National for financial markets, sports in 18 states
Novig	Pregame sports at low cost	No fee on pregame straight trades	21+, check the app for your state
OG (Crypto.com)	Crypto.com customers, sports parlays	Varies by contract	Check the app for your state
Underdog Predictions	Fantasy players moving to event contracts	Varies by contract	About 30 states; changes often

Fee figures were checked on October 16, 2026, against each platform's own pages. Availability changes quickly while states and the CFTC litigate sports contracts, so confirm in the app before you deposit.

1. Polymarket US: the closest like-for-like alternative

Polymarket's US app is a CFTC-designated exchange, relaunched for US users in November 2025. Its catalog leans toward politics, geopolitics, crypto and current events, the areas where the global Polymarket book is the most liquid market anywhere.

Why switch: wider range of political and world-event markets, often listed faster than on Kalshi. Prices on the same question regularly differ from Kalshi's by a point or more; our live arbitrage scanner shows where.

Watch out for: a taker fee since July 2026 (0.0695 × contracts × price × (1 − price) since October), no service in eight states, and crypto-style funding habits even on the US app.

Full detail: Kalshi vs Polymarket.

2. Robinhood: the easiest switch if you already have the app

Robinhood offers event contracts inside its main app, sourced from several exchanges including KalshiEX and ForecastEx. If you already hold stocks there, there is no new account, no new funding method and no new tax form.

Why switch: the best mobile experience in the category and one balance for stocks and contracts.

Watch out for: a smaller catalog than Kalshi and two fee layers: Robinhood's commission (10% × p × (1 − p), 5% with Gold, capped at $0.01 per contract) plus the exchange's fee of up to $0.01. Many Robinhood contracts are Kalshi contracts underneath, so a Kalshi restriction in your state often applies here too.

3. DraftKings Predictions: for DraftKings customers

DraftKings runs its own exchange, DKeX, launched in June 2026. It is available in 48 states (not Maine or New Hampshire), with sports contracts in 18.

Why switch: a familiar app and account, a simple flat fee of $0.01 or $0.02 per contract, and a welcome offer of up to $200 in Predictions Dollars (to November 29, 2026).

Watch out for: thinner books than Kalshi on politics and macro markets.

4. FanDuel Predicts: for states without a sportsbook

FanDuel Predicts lists contracts from CME Group and Crypto.com's exchange. Financial and cultural markets are national; sports are offered in 18 states where FanDuel has no online sportsbook.

Why switch: if you live in a state like Texas or California with no legal online sportsbook and want sports contracts from a brand you know.

Watch out for: a narrower catalog than Kalshi outside sports.

5. Novig: the cheapest for pregame sports

Novig is a peer-to-peer sports exchange that became a CFTC-designated contract market in June 2026. It charges no fee on pregame straight trades and a taker fee on live trades.

Why switch: for pregame sports, Novig is usually the cheapest regulated option, because there is no fee and no sportsbook margin built into the price.

Watch out for: sports only, 21+, and no parlays or promotions beyond the welcome credit.

6. OG (Crypto.com): sports and parlays on Crypto.com's exchange

OG launched in February 2026 on Crypto.com's CFTC-registered exchange and clearinghouse, with sports, economics, politics and culture markets.

Why switch: you already use Crypto.com, or you want parlay-style sports contracts.

Watch out for: shallower books than Kalshi on most non-sports markets.

7. Underdog Predictions: for fantasy players

Underdog started in prediction markets as a front end for Crypto.com's exchange in September 2025, bought a CFTC-registered exchange and clearinghouse in March 2026, and launched its own exchange in July 2026. Reports put its availability at around 30 states, and it has given up fantasy licenses in several states where regulators see the two as incompatible.

Why switch: you already play Underdog fantasy and want sports contracts in the same app.

Watch out for: availability that has changed several times in 2026. Check the app for your state.

Which alternative fits your reason for leaving Kalshi

"Kalshi blocks sports in my state." The other sports apps (Robinhood, DraftKings, FanDuel, Novig, OG, Underdog) face the same state fights, and several route to Kalshi's exchange. Check each app; FanDuel Predicts is designed for states without a sportsbook. See our state guides.
"Kalshi's fees are too high on sports." Novig for pregame, DraftKings for a flat per-contract fee.
"Kalshi does not list the market I want." Polymarket US, especially for world events and crypto.
"I want a second price." Polymarket US. Compare both live in the arbitrage scanner.

What not to use

Offshore prediction sites and crypto apps that accept US users without CFTC registration can freeze withdrawals, and you have little recourse. Sweepstakes-style "prediction" apps are a different product under different rules. If an app cannot tell you which regulated exchange your contract trades on, do not deposit.

Frequently asked questions

Is there anything like Kalshi but with more markets?

Polymarket US is the closest match with a wider political and world-events catalog. On sports, Kalshi lists more than most alternatives.

Is Polymarket legal in the US?

Yes, through Polymarket's CFTC-regulated US app, in every state except Arizona, Illinois, Massachusetts, Maryland, Michigan, Montana, Nevada and Ohio. See is Polymarket safe.

Which Kalshi alternative has the lowest fees?

For pregame sports, Novig (no fee on straight pregame trades). For other markets, compare the formula: Kalshi and Polymarket US both charge about 0.07 × price × (1 − price), highest near 50¢.

Can I use Kalshi and an alternative at the same time?

Yes. Many traders keep accounts on two venues to take the better price on each trade.

Do you earn money from these recommendations?

We earn a commission on Polymarket sign-ups through our links and nothing from the other platforms on this page. See our affiliate disclosure.