Kalshi fees explained
Kalshi's fees are small, but they are not zero, and they behave differently from a flat commission. Understanding the shape of the fee can change how and where you trade.
Here is what you actually pay. Note that Kalshi can change its fee schedule, so confirm current numbers on Kalshi's own fee page before relying on them.
Fees depend on the contract price
Rather than a flat rate, Kalshi's trading fee scales with how close the price is to 50 cents. Fees are highest on contracts near 50/50 and lowest on contracts near the extremes (close to 1 cent or 99 cents). In practice the cost per contract is a small number of cents at most.
Limit orders can skip the fee
The trading fee generally applies to taker orders: orders that match immediately against the book. A limit order that rests and is filled later is a maker order, which generally avoids that fee. If you trade often, routing through limit orders is the single biggest fee saver.
No fee at settlement
When a contract settles at $1 or $0, Kalshi does not take a cut of the payout. You keep the full $1 per winning contract. The fee is a cost of trading in and out, not of winning.
Deposits and withdrawals
Funding by ACH bank transfer is typically free, while debit card transactions can carry a percentage fee. If you move money frequently, the funding method you choose can matter as much as the trading fee itself.
Two practical takeaways
First, favor limit orders to avoid taker fees. Second, be aware that round-tripping (buying then selling before settlement) on a thin edge pays the fee twice, which can erase a small expected profit. Sizing and price selection matter more than most new traders realize.