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Polymarket vs Kalshi vs GADUIN
Polymarket, Kalshi and GADUIN all list event contracts that pay $1.00 per share on the outcome that happens. Polymarket and Kalshi cover politics, sport, economics and culture and charge published taker fees. GADUIN lists only transport markets and charges no trading fee.
| Topic | Polymarket | Kalshi | GADUIN |
|---|---|---|---|
| Markets listed | PolymarketPolitics, sport, crypto, finance, economics, culture, weather, tech and geopoliticsSource | KalshiElections, politics, sport, culture, crypto, commodities, climate, economics, finance, and tech and scienceSource | GADUINTransport only: individual flights, trains, ship voyages, daily airport arrivals and weekly chokepoint transitsSource |
| Outcome style | PolymarketYes/No: each market has two outcome tokensSource | KalshiYes/No contractsSource | GADUINYes/No, plus three-outcome On time / Delayed / Cancelled marketsSource |
| How trades are priced | PolymarketTraders post orders and are matched with each other (makers and takers)Source | KalshiTraders post orders and are matched with each other (makers and takers)Source | GADUINA fixed pricing formula that moves with every tradeSource |
| Trading fees | PolymarketTakers pay shares × rate × p × (1 − p), with a rate of 0.04 to 0.07 by category. Geopolitics markets are fee-free. Makers pay nothing.Source | KalshiMost markets: takers pay 0.07 × contracts × p × (1 − p), rounded up. Some series also charge resting (maker) orders. No settlement fee.Source | GADUINNo trading fee and no settlement feeSource |
| Balance currency | PolymarketpUSD, a USDC-backed token on PolygonSource | KalshiUS-dollar cash balanceSource | GADUINUSDT balanceSource |
| Account funding | PolymarketCrypto transfer to your deposit address, with a choice of tokens and networks. No Polymarket deposit or withdrawal fee.Source | KalshiDebit card, bank transfer (ACH), PayPal, Venmo, Cash App, crypto and wire. Outside the US: debit card, crypto and wire.Source | GADUINUSDT (ERC-20) on Ethereum. No GADUIN deposit fee. 5% withdrawal commission.Source |
| Regulatory status, as stated by the operator | PolymarketPolymarket US (QCX LLC) is a CFTC-regulated designated contract market. The international platform restricts access by country for regulatory and sanctions reasons.Source | KalshiRegulated by the CFTC as a designated contract market (DCM)Source | GADUINOperated by Gaduin Inc., Panama. Not registered with or licensed by any securities or derivatives regulator.Source |
| Availability | PolymarketThe international platform blocks 39 countries, including the US, UK, France, Germany and Australia, plus some regions. Singapore, Poland, Thailand and Taiwan are close-only.Source | KalshiThe US and many other countries, subject to the Kalshi Member AgreementSource | GADUINNot available to US persons or to residents of restricted jurisdictionsSource |
Which one to use
For politics, sport, economics or culture, Polymarket and Kalshi list far more markets. GADUIN lists only transport: whether a flight lands on time, whether a train runs late, or how many ships cross the Strait of Hormuz this week.
Fee example
100 shares bought at 50¢ ($50.00) as a taker, using each operator's published formula:
| Market | Fee |
|---|---|
| Polymarket, politics market (rate 0.04) | $1.00 |
| Polymarket, sports market (rate 0.05) | $1.25 |
| Kalshi, standard market | $1.75 |
| GADUIN, any market | $0.00 |
Orders that wait to be matched pay no fee on Polymarket and on most Kalshi markets, and Polymarket's geopolitics markets are fee-free.
How each settles
All three pay $1.00 per share on the outcome that happens and $0 on the rest. Polymarket and Kalshi resolve each market under its own published rules. GADUIN fixes every market's terms (the exact service, the reference time and the delay threshold) when it opens and settles from the official operational record. See how GADUIN settles.
Availability by country
Each operator decides where it serves. Polymarket publishes a list of blocked and close-only countries. Kalshi sets eligibility in its Member Agreement. GADUIN is not available to US persons or to residents of restricted jurisdictions. Check the operator's current terms and your local laws before you open an account.
Polymarket and Kalshi are trademarks of their respective owners, and GADUIN is not affiliated with either. Each description summarises the operator's own published pages on the date above.
Trade transport markets
Each GADUIN market shows its price as a chance and what a share pays out. No trading fee.
Keep learning
Start with the basics: What a prediction market is and how it works
Related guides
- Prediction market vs sportsbook
- How prices move: the LMSR pricing formula explained
- How a market settles from the official record