What a prediction market trade really costs
A market price is only one part of the cost. A Yes share near 50¢ can still be expensive if the order book is wide, a taker fee applies, an on-chain transfer is required, or you need to exit before resolution. This guide compares fee models, not a permanent price list: operators can change schedules, promotions and eligible market categories.
Four costs to compare before funding
- Execution fee: maker/taker or transaction charges shown on the actual trade ticket.
- Spread and depth: the difference between the best buy and sell price, plus how much size is available.
- Deposit and withdrawal friction: bank holds, processors, network fees, bridge costs and minimums.
- Exit cost: the cost of closing early in a thin book, which can exceed a published platform fee.
What the official schedules say
| Platform | Fee model to verify | Official source |
|---|---|---|
| Polymarket | Fee-enabled categories can charge takers; makers are not charged under the cited schedule. Check the market and current category before placing an order. | Trading fees ↗ |
| Kalshi | Transaction fees vary by contract and special event; the trade ticket and fee schedule are the decision point. | Fee schedule ↗ |
| PredictIt | Read account, withdrawal and inactivity terms before treating a market price as your total cost. | Terms and conditions ↗ |
| Smarkets | Exchange commission is assessed on net market winnings under the standard model; tiers can differ. | Commission breakdown ↗ |
How to compare two platforms fairly
Run the same small hypothetical order through both interfaces. Record the displayed fee, best bid/ask, amount filled, transfer route and time to withdraw. Do not compare a fee-free geopolitical market with a fee-enabled crypto market and call the result a platform-wide rule.
Fees are not the only risk
A low explicit fee does not make a market safe. Resolution wording, regional access, custody and liquidity determine whether you can trade or leave at all. Use the liquidity guide beside this page, then compare the top prediction markets by your region.
FAQ
Which prediction market has the lowest fees?
There is no stable winner. Compare the live ticket, spread and withdrawal path on the market you would actually trade.
Why not publish exact fee percentages?
Schedules change by category, promotion and date. Invented numbers would be wrong. We link official sources instead.
Fees vs liquidity — which matters more?
A thin book can cost more than a published taker fee. Use this page with the liquidity guide.