We've compared the leading prediction market exchanges on liquidity, market range, fees, regulation, and ease of use — so you know exactly where to trade and when.
Based on liquidity, markets, regulation, and user experience
Polymarket is the world's largest prediction market by volume, running on blockchain technology and powered by USDC. With billions in total volume and markets on virtually every major world event, it's the platform with the deepest liquidity and widest selection. The blockchain infrastructure means near-instant settlement and full transparency of all positions.
Kalshi is the first CFTC-regulated prediction market exchange in the US, making it the gold standard for compliant, mainstream prediction market trading. It uses regular USD, requires no cryptocurrency, and offers robust economics and policy markets. If you're new to prediction markets or want a regulated environment, Kalshi is the clear starting point.
PredictIt is one of the longest-running prediction markets, focused exclusively on US political events. Its academic partnership model means it operates under a CFTC no-action letter with trade caps per market. Good for political market depth but limited in scope and with higher fees than newer platforms.
| Feature | Polymarket | Kalshi | PredictIt |
|---|---|---|---|
| Regulation | Blockchain | CFTC ✓ | CFTC no-action |
| Currency | USDC | USD ✓ | USD |
| No crypto needed | ✗ | ✓ | ✓ |
| Global access | ✓ | US only | US only |
| Number of markets | 1,000+ | 300+ | 50-100 |
| Market liquidity | Very high | High | Medium |
| Trading fee | ~2% | ~2% | 10% |
| Withdrawal fee | None | None | 5% |
| Trade caps | None | None | $850/market |
| Best for beginners | Moderate | Yes ✓ | Moderate |
| iPredicta integration | ✓ Live | ✓ Live | Coming soon |
Two questions decide it. First: are you US-based? If yes, Kalshi is the obvious starting point — regulated, no crypto, low-friction onboarding. Polymarket is also accessible but you'll want USDC and a wallet workflow before your first trade. Second: do you want the widest possible market selection? If yes, Polymarket regardless of jurisdiction. The catalog is larger, liquidity is deeper, and Polymarket lists most of the high-volume political and economic contracts before Kalshi does.
Most active traders end up using both. Cross-platform price differences create the windows surfaced on our arbitrage page, and depth on niche contracts varies — sometimes Kalshi has the better price, sometimes Polymarket. Our explainer on prediction markets covers the underlying mechanics if you're new to the format.
UK and EU residents face the tightest geographic restrictions. Polymarket blocks UK and most EU IP addresses by default — that's a Polymarket policy decision tied to local regulatory ambiguity, not a blanket regulatory ban on prediction markets. Kalshi is US-only at the API level, with KYC tied to a US address. If you're outside the US and not on Polymarket, the practical options are limited.
For UK users specifically, the regulated routes are different products with similar mechanics: betting exchanges (Smarkets, Betfair Exchange) for sports and political markets, spread-betting firms (IG, Spreadex) for macro and politics with leveraged exposure. Neither is a like-for-like substitute for prediction markets — exchange contracts settle differently and spread bets carry leverage — but both are FCA-regulated and accessible. We track Polymarket and Kalshi prices on iPredicta regardless; the data still has informational value even when the venue isn't open to you.
Polymarket geo-restricts US IP addresses and asks users to confirm they are not US persons. The platform is not CFTC-registered, so US users have no regulatory backstop. Kalshi is the CFTC-regulated option for US-based traders.
Trading fees on Polymarket and Kalshi are roughly comparable — about 2% on both. PredictIt is the outlier at 10% on profits plus a 5% withdrawal fee, which is why it sits below the other two for active trading despite its academic credibility.
Kalshi runs on USD — bank transfer or card deposit, no crypto needed. Polymarket settles in USDC, so you'll need a wallet and a way to fund USDC. iPredicta surfaces both, so you can compare prices and choose the venue that fits your setup.
The highest-scoring markets on iPredicta right now — scored by volume, uncertainty, and momentum.