Kalshi vs FanDuel Predicts: Full Comparison

Kalshi and FanDuel Predicts are the two largest CFTC-regulated prediction market platforms available to US residents. They both let you trade on real-world outcomes with binary event contracts, and they’re both available nationwide for at least some market categories. But they’re built for different users, with different strengths, different limitations, and meaningfully different cost structures.

Kalshi is the established platform — CFTC-designated since 2020, with the widest market selection in the industry. FanDuel Predicts is the newcomer — launched December 2025, backed by Flutter Entertainment and CME Group, and built to bring mainstream sports bettors into prediction markets with minimal friction.

We scored both platforms across 9 weighted categories using public data, fee schedules, regulatory filings, and user reviews. Here’s how they compare.

Last updated: March 2026

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Quick Comparison

The table tells the story at a high level: Kalshi is the deeper, more established platform with better regulation and wider markets. FanDuel Predicts is the more accessible one with faster withdrawals and easier funding. The sections below unpack the specifics.

How We Scored Each Platform

Both platforms were evaluated using PredictionScout’s published scoring methodology. We score across 9 categories, each with a fixed weight:

• Regulatory Status & Fund Safety (20%) — the most heavily weighted factor
• Market Selection (15%)
• Fees & Costs (15%)
• Liquidity & Execution (15%)
• User Experience (10%)
• Withdrawal Experience (10%)
• Deposit & Funding Options (5%)
• Tax & Reporting Tools (5%)
• Customer Support (5%)

Scores are based on public fee schedules, regulatory filings, app store data, user review analysis (Trustpilot, BBB, Reddit), and third-party reporting. We do not accept payment for higher scores. Read the full Kalshi review and full FanDuel Predicts review for detailed breakdowns of every category.

Where Kalshi Wins

Regulation and Fund Safety (Kalshi: 9.0 vs. FanDuel: 7.0)

This is Kalshi’s strongest advantage. Kalshi holds its own CFTC Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) designations. That means it operates and clears its own contracts, with customer funds legally segregated from company funds under federal law. If Kalshi went bankrupt tomorrow, your money would be structurally separated from the company’s creditors.

FanDuel Predicts is also CFTC-regulated, but through a different structure. FanDuel Prediction Markets LLC is a registered Futures Commission Merchant (FCM) and NFA member, with contracts listed on CME Group’s CFTC-designated exchange. This is legitimate regulation — CME Group is one of the largest derivatives exchanges in the world. But it’s an intermediary model rather than a self-clearing one, and the platform is only three months old. The track record isn’t there yet.

Both platforms are meaningfully safer than unregulated alternatives. But if federal regulatory depth is your primary concern, Kalshi has the edge.

Market Selection (Kalshi: 9.0 vs. FanDuel: 5.5)

This is the biggest gap in the entire comparison. Kalshi offers 10+ market categories: politics, sports, economics, culture, crypto, tech, climate, health, and more. You can trade on election outcomes, Fed rate decisions, GDP numbers, Oscar winners, hurricane landfalls, and whether a specific tech CEO will resign.

FanDuel Predicts offers three categories: sports, financial markets, and crypto. There are no politics markets. No culture markets. No climate or health markets. For a platform backed by CME Group’s infrastructure, this is a surprisingly narrow selection.

The missing politics category is especially significant. Election and political markets are consistently the highest-volume, highest-interest contracts on prediction market platforms. If you want to trade on elections, legislation, or political outcomes, Kalshi is your only option among major US-regulated platforms.

Trading Fees (Kalshi: 7.0 vs. FanDuel: 6.5)

Both platforms charge trading fees, but Kalshi’s are lower in most realistic scenarios.

Kalshi uses a variable taker fee formula: 0.07 x contracts x price x (1 – price). At a 50-cent contract (roughly even odds), that works out to about 1.75% per contract. The fee decreases as contracts move toward 0 or 1 — so high-probability and low-probability contracts cost less to trade.

FanDuel Predicts charges a flat 2% of potential payout on every trade, regardless of contract price. Simpler to understand, but consistently more expensive than Kalshi at mid-range and high-probability prices.

Here’s how the fees compare on a $100 position at different contract prices:

At every price point, Kalshi’s variable formula comes out cheaper. The gap widens at extreme probabilities. Over dozens of trades, this adds up — an active trader placing 50 trades a month could save $25–50 per month on fees alone by using Kalshi instead of FanDuel Predicts.

One caveat: FanDuel charges zero deposit fees on every funding method. Kalshi charges 2% on debit card and mobile wallet deposits. If you deposit $500 via debit card on Kalshi, that’s $10 gone before you place a trade. If you use bank transfer (free on both platforms), Kalshi is the cheaper option overall.

Web Trading Platform (Kalshi: Yes vs. FanDuel: No)

Kalshi has a full web trading interface with charts, order books, and portfolio management. FanDuel Predicts is mobile-only — no web platform exists.

For casual users, this may not matter. For active traders who want to analyze markets on a larger screen, manage multiple positions, or use multiple monitors, the lack of a web interface on FanDuel Predicts is a genuine limitation.

App Quality (Kalshi: 4.7/4.5 vs. FanDuel: 4.4/~3.8)

Kalshi’s mobile apps are well-reviewed: 4.7 stars on iOS with 22,000+ reviews and 4.5 on Android with 3,100+ reviews. FanDuel Predicts’ app is newer — 4.4 on iOS with roughly 166 reviews and approximately 3.8 on Android with very limited review data. The sample sizes are not comparable. FanDuel’s ratings may rise or fall as the user base grows, but the early data gives Kalshi the advantage.

Where FanDuel Predicts Wins

Deposit Options (FanDuel: 8.5 vs. Kalshi: 8.0)

FanDuel Predicts accepts more deposit methods and charges zero fees on all of them. That’s a meaningful combination.

The PayPal and Venmo support is a real differentiator. Millions of US consumers have money sitting in these accounts and are comfortable using them. Adding funds to FanDuel Predicts can be as simple as tapping Venmo and entering an amount. On Kalshi, the fee-free path requires linking a bank account and waiting for ACH processing.

If you’re depositing $200 by debit card, Kalshi takes $4 in fees. FanDuel takes $0. Over time, that difference matters for users who prefer instant funding over bank transfers.

Withdrawal Speed (FanDuel: 6.5 vs. Kalshi: 5.0)

This is one of Kalshi’s most criticized weaknesses, and FanDuel Predicts clearly outperforms it.

• FanDuel Predicts: PayPal and Venmo withdrawals process in 24–48 hours. ACH withdrawals take 2–5 business days.
• Kalshi: ACH withdrawal to the same bank you deposited from takes approximately 7 business days. ACH to a different bank account can take up to 90 days.

The 90-day window on Kalshi for withdrawals to a different bank is a serious friction point. It’s a compliance-driven policy, not a technical limitation, but the practical impact on users is the same — your money can be locked up for months. FanDuel Predicts doesn’t have this problem.

If quick access to your money is important to you, FanDuel Predicts has a clear advantage.

Onboarding Simplicity

FanDuel Predicts benefits from being part of the FanDuel ecosystem. If you already have a FanDuel sportsbook account, you can access Predicts through the same app. The interface is designed for sports bettors — simple contract framing, clean mobile layout, and familiar deposit flows. There’s less of a learning curve compared to Kalshi’s exchange-style interface.

Kalshi isn’t difficult to use — it scored 8.0 for UX — but it presents itself more like a financial exchange. Order books, contract pricing, portfolio analytics. If you’ve traded stocks or options, it feels natural. If you’re coming from sports betting apps, FanDuel Predicts will feel more familiar.

Sports Markets in Non-Sportsbook States

FanDuel Predicts offers sports event contracts in 18 states where FanDuel does not operate a sportsbook. This matters for residents of large states like California, Texas, Florida, and Georgia where legal sports betting isn’t available. If you live in one of these states and want to trade on sports outcomes through a regulated platform, FanDuel Predicts is currently your most accessible option.

Kalshi also offers sports markets in all 50 states (except Massachusetts, where a state court injunction blocks them). But FanDuel’s brand recognition among sports fans and its simpler contract format may make it the more natural choice for users whose primary interest is sports.

Full 9-Category Score Comparison

Kalshi leads in the five highest-weighted categories (regulation, markets, fees, liquidity, UX), which is why the composite gap is a full point despite FanDuel winning four categories. The categories where FanDuel leads — withdrawals, deposits, tax, and support — carry less total weight in our methodology because they have less impact on the core trading experience.

That said, withdrawals and deposits are the categories that affect your daily experience most directly. If you’re frustrated by how long it takes to get money in or out of a platform, FanDuel Predicts’ advantages in those areas may matter more to you than the composite score suggests.

Which Platform Is Right for You?

There’s no universally better choice — it depends on what you want to trade and how you want to trade it.

Choose Kalshi if:

• You want to trade on politics, elections, economics, culture, climate, or health — FanDuel doesn’t offer these
• You prioritize the strongest federal regulatory protections available (CFTC DCM + DCO with fund segregation)
• You want a web trading platform in addition to mobile
• You’re an active trader who wants lower per-trade fees
• You value market depth and variety — Kalshi has more contracts in more categories than any US competitor

Choose FanDuel Predicts if:

• You’re a sports bettor who wants to try prediction markets with a familiar interface
• You live in a state without legal sports betting (CA, TX, FL, GA, etc.) and want regulated sports event contracts
• You want fast withdrawals — 24–48 hours via PayPal/Venmo versus a week or more on Kalshi
• You prefer to deposit with PayPal, Venmo, or debit card without fees
• You’re a beginner who finds Kalshi’s exchange interface overwhelming

Consider a different platform entirely if:

• You want the lowest possible fees — Polymarket charges 0.10% taker fees on its US platform (currently in waitlist rollout)
• You’re crypto-native and want decentralized infrastructure — Polymarket is built for you
• You want a broader platform comparison — see our Best Prediction Market Platforms 2026 ranking

Can You Use Both?

Yes — and there are practical reasons to do so.

Neither platform requires exclusivity. You can maintain funded accounts on both Kalshi and FanDuel Predicts simultaneously. Here’s when that makes sense:

• Market coverage: Use Kalshi for politics, economics, and culture markets that FanDuel doesn’t offer. Use FanDuel Predicts for sports contracts, especially if you live in a non-sportsbook state.
• Price comparison: On markets that both platforms offer (financial outcomes, some sports contracts), check pricing on both before trading. The platform with the tighter spread or better price saves you money on that specific trade.
• Withdrawal flexibility: If you need quick access to profits, withdraw through FanDuel Predicts (24–48 hours to PayPal). If you don’t mind waiting, Kalshi’s longer withdrawal window is less of an issue.
• Diversification: Splitting your capital across two regulated platforms reduces single-platform risk, even if both are CFTC-regulated.

The main cost of using both is complexity — two accounts to manage, two KYC verifications, two sets of tax documents. For most casual traders, one platform is enough. For active traders or anyone who wants access to the full range of US prediction markets, running both is a reasonable approach.

If you’re new to prediction markets entirely, our guide to placing your first trade walks through the mechanics step by step. And if you’re unsure whether prediction markets are right for you versus traditional sports betting, our prediction markets vs. sports betting comparison covers the structural differences.

Common Questions

Is Kalshi or FanDuel Predicts better?

Kalshi is the better overall platform, scoring 7.4/10 versus FanDuel Predicts’ 6.4/10. Kalshi wins on regulation (CFTC DCM + DCO with fund segregation), market selection (10+ categories including politics), and fees (approximately 1.75% at mid-price contracts versus FanDuel’s flat 2%). FanDuel Predicts wins on deposit flexibility (zero deposit fees, PayPal/Venmo support), withdrawal speed (24–48 hours versus 7+ business days), and ease of use for sports bettors already in the FanDuel ecosystem.

Can you trade politics on FanDuel Predicts?

No. FanDuel Predicts does not offer politics or election markets. If you want to trade on elections, legislation, or political outcomes, Kalshi is the only major US-regulated platform offering those contracts. This is the single biggest market selection gap between the two platforms.

Which platform has lower fees — Kalshi or FanDuel Predicts?

Kalshi has lower trading fees in most scenarios. Kalshi’s taker fee at a 50-cent contract is approximately 1.75%, while FanDuel Predicts charges a flat 2% of potential payout on every trade. However, FanDuel Predicts charges zero deposit fees on all methods, while Kalshi charges 2% on debit card and mobile wallet deposits. If you deposit by bank transfer (free on both), Kalshi is cheaper overall.

Can you use both Kalshi and FanDuel Predicts at the same time?

Yes. There is no exclusivity requirement on either platform. Many traders use Kalshi for politics and economics markets and FanDuel Predicts for sports contracts, especially in states where FanDuel does not operate a sportsbook. Running accounts on both platforms also lets you compare pricing on overlapping markets and take the better price.

Which platform is easier to get started on?

FanDuel Predicts has the easier onboarding experience. It supports PayPal, Venmo, Apple Pay, and debit card deposits with zero fees on all methods, and millions of users already have FanDuel accounts from sports betting. Kalshi requires a bank transfer for fee-free deposits and has a slightly more involved account setup process. Both platforms require a $10 minimum deposit. For a walkthrough of the process, see our guide to your first prediction market trade.

How do withdrawals compare between Kalshi and FanDuel Predicts?

FanDuel Predicts is significantly faster. PayPal and Venmo withdrawals process in 24–48 hours, and ACH withdrawals take 2–5 business days. Kalshi ACH withdrawals to the same bank take approximately 7 business days, and withdrawals to a different bank account can take up to 90 days. This is one of the biggest practical differences between the two platforms.

Prediction markets involve real financial risk. You can lose your entire position on any trade. These platforms are risk instruments, not savings accounts. Never trade with money you can’t afford to lose. For more on the regulatory landscape, see our guide to prediction market legality.