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How to Use Polymarket & Kalshi: Getting Started

Step-by-step guide to trading on prediction markets. Both platforms, compared side by side.

15 min
Setup time
$1
Min trade
18+
Min age

To start trading prediction markets: pick a platform (Kalshi for US beginners, Polymarket for global/crypto users — read our safety review first), verify your identity (5 min KYC), deposit funds (bank transfer or USDC), and buy your first contract. Minimum deposit: $1 on Polymarket, $5 on Kalshi. This guide walks through both platforms step by step.

Which Platform Is Right for You? quick comparison

Both platforms let you trade on the same events, but the experience is different. Choose based on how you want to deposit, what you want to trade, and where you live.

Kalshi Best for US beginners
  • ✓ Pay with bank account or debit card (USD)
  • ✓ CFTC-regulated — legal in all 50 states
  • ✓ No crypto knowledge needed
  • ✓ 1099 tax forms issued automatically
  • ✗ US only — not available internationally
  • ✗ Higher fees (1-7% per trade)
  • ✗ Fewer markets than Polymarket
Polymarket Best for crypto users & international
  • ✓ Available in 100+ countries
  • ✓ Lower fees (near-zero on Polygon)
  • ✓ More markets (crypto, culture, global)
  • ✓ Higher liquidity on political events
  • ✗ Requires crypto wallet + USDC
  • ✗ Self-report taxes (no 1099)
  • ✗ US access via partnership (not direct CFTC)
Not sure? Start with Kalshi if you're in the US and new to trading. Start with Polymarket if you already use crypto or live outside the US. Both platforms list many of the same events — compare their live odds side by side.

How to Start Trading step by step

01

Create your Kalshi account

Go to kalshi.com and sign up with your email. Complete KYC verification: government ID, SSN, and a selfie photo. Verification typically takes 1-5 minutes.

Age requirement: You must be 18 or older. KYC verifies your age automatically.
02

Fund your account

Deposit USD via bank transfer (ACH, free), debit card (instant, small fee), or wire transfer. No crypto needed — this is a regular bank deposit.

Tip: Start with $20-50 to learn. You can trade contracts for as little as $1.
03

Browse markets and choose an event

Explore categories: Politics, Economics, Sports, Culture. Each market shows a Yes/No price — the crowd's estimated probability. A price of 65c means 65% chance the event happens.

04

Buy a contract

Choose Yes or No. Enter how many contracts (each costs the displayed price). Your maximum risk = what you pay. You can never lose more than your position cost.

Example: "Will Trump impose tariffs by June 2026?" priced at 62c. Buy 10 Yes contracts for $6.20. If it happens → you get $10.00 → profit $3.80 (+61%). If not → you lose $6.20.
05

Monitor and manage your position

Track positions in your portfolio. You can sell early at current market price (lock in profit or cut a loss) or hold until resolution.

Pro tip: Use OddsShift to compare your market's price on Kalshi vs Polymarket. If Polymarket prices the same event differently, you may spot an opportunity.
06

Cash out your winnings

Winning contracts pay $1.00 each (minus Kalshi's 1-7% fee). Balance updates automatically. Withdraw to your bank via ACH (1-3 business days). Kalshi issues 1099 tax forms for your gains. Understand the tax implications →

01

Set up a crypto wallet

Download MetaMask, Phantom, or Coinbase Wallet. Create a new wallet and save your recovery phrase securely — this is your backup if you lose access. Never share it with anyone.

No crypto experience? Switch to the Kalshi tab above — it uses regular bank deposits, no wallet needed.
02

Get USDC on Polygon network

Buy USDC (a stablecoin pegged to $1) on Coinbase or Kraken. Transfer to your wallet on the Polygon network. Alternatively, Polymarket now supports credit card deposits that convert to USDC automatically.

Easiest path: Use Polymarket's built-in credit card deposit. It handles the USDC conversion for you.
03

Connect wallet to Polymarket

Go to polymarket.com → Connect Wallet → select your provider. Approve the connection. For US users: complete KYC verification (required since 2025 QCEX partnership).

04

Browse and select a market

Explore categories: Politics, Crypto, Sports, Culture, and more. Polymarket typically has more markets than Kalshi, especially in crypto and global events. Prices = probabilities, same as Kalshi.

05

Buy Yes or No shares

Select your side, enter quantity, confirm. Your wallet signs the transaction on the Polygon blockchain. Taker fees vary by category (0-1.56%). Each share costs between $0.01 and $0.99.

Example: "Will Bitcoin hit $150K by July 2026?" priced at 35c. Buy 20 Yes shares for $7.00. If it happens → you get $20.00 → profit $13.00 (+186%). If not → you lose $7.00.
06

Trade or hold until resolution

Sell shares anytime at current market price, or hold until resolution. Winning shares pay $1.00 in USDC. To convert to cash: withdraw USDC to a crypto exchange (Coinbase, Kraken) and sell for USD.

Compare first: Before buying, check OddsShift to see if Kalshi has a better price on the same event. Sometimes you can profit from the gap.

Payout Calculator how much can you make?

Enter a contract price and number of contracts to see your potential profit on both platforms.

1c = 1% probability, 99c = 99%
If you're RIGHT:
Your cost $6.20
Payout $10.00
Gross profit +$3.80
K Fee (1-7%) -$0.30
PM Fee (0-1.56%) -$0.10
K Net profit +$3.50
PM Net profit +$3.80
Return on investment +61.3%
If you're WRONG:
You lose -$6.20
How it works: Contracts pay $1.00 if your side wins, $0.00 if it loses. Your profit = $1.00 minus purchase price, minus platform fees. Kalshi fees: 1-7% by category. Polymarket: taker fees 0-1.56% (highest on crypto at 50c price, geopolitics is fee-free). Fees are symmetrical — lower at extreme prices. Full fee comparison →

Age Requirements & Kalshi Bonus quick answers

How Old Do You Have to Be?

18+ on both platforms.
Kalshi KYC verification confirms age via government ID + SSN. Strictly enforced.
Polymarket Terms of Service require 18+. Age verified via KYC for US users. Non-US wallet-based access has less verification.

Kalshi Sign-Up Bonus & Promotions

Kalshi periodically offers sign-up bonuses and promotional credits.

Bonus details change frequently. To use a Kalshi bonus:

  1. Create account and complete KYC verification
  2. Enter promo code during sign-up (if available)
  3. Deposit the required minimum amount
  4. Bonus credits appear in your account balance
  5. Trade with bonus funds — profits are yours to withdraw

Polymarket does not currently offer sign-up bonuses. Bonus amounts and terms change — check kalshi.com for current promotions.

Frequently Asked Questions getting started

How does Kalshi work with an example?
Kalshi lets you buy Yes or No contracts on real-world events. Example: "Will Trump impose new tariffs by June 2026?" — if you think Yes, buy a Yes contract at 62 cents. If the event happens, your contract pays $1.00 — profit of 38 cents (61% return). If not, you lose your 62 cents. Kalshi handles everything in USD via bank transfer or debit card. OddsShift tracks these same markets across both Kalshi and Polymarket so you can compare prices before trading.

Is Kalshi safe for beginners?
Kalshi is CFTC-regulated (same regulator as CME Group), providing strong legal protections for US users. You can start with as little as $1 per contract. Risks include losing your position if the outcome goes against you. Kalshi issues 1099 tax forms and offers fiat deposits (bank, debit card), making it more accessible than crypto-based alternatives. Start small and never trade more than you can afford to lose.

Can you make money on Kalshi?
Yes, but most casual traders don't profit consistently. The key is finding markets where your information gives you an edge over the crowd price. OddsShift's AI Observer trades with real money and maintains a 67% win rate — but that requires systematic analysis across both platforms. Beginners should start small and use tools like OddsShift to compare prices across Polymarket and Kalshi before placing trades.

How does Polymarket work?
Polymarket is a crypto-based prediction market on the Polygon blockchain. You connect a crypto wallet (MetaMask, Phantom, or Coinbase Wallet), deposit USDC (a stablecoin worth $1), and buy Yes or No shares on events. Prices represent the crowd's estimated probability. If your side wins, shares pay $1.00 each. Polymarket offers broader market variety than Kalshi (crypto, culture, global events) but requires crypto knowledge.

Can you actually make money on Polymarket?
Yes — Polymarket processed over $44 billion in volume in 2025. However, research suggests roughly 70% of casual traders lose money (similar to day trading). The edge comes from superior information, not luck. OddsShift's accuracy data helps by comparing Polymarket prices against Kalshi — when platforms disagree, one of them is wrong, and that's where opportunities exist.

Can US citizens use Polymarket?
Yes, as of 2025. Polymarket re-entered the US market through a partnership with QCEX under CFTC compliance. Most US states now have access, though KYC is required. Kalshi is also available in all 50 US states. See our full legal guide for state-by-state availability.

Do most people lose money on Polymarket?
Approximately 70% of Polymarket traders lose money (Yahoo Finance analysis) — similar to day trading and sports betting. The 30% who profit tend to be systematic traders who use data and cross-platform analysis. OddsShift's AI Observer demonstrates this: a 67% win rate achieved through cross-platform price comparison, not gut feeling.

How old do you have to be to use Kalshi?
You must be at least 18 years old. Kalshi requires full KYC verification (government ID + SSN), which confirms your age. Polymarket also requires 18+ per Terms of Service, though age verification is less strict for non-US wallet-based users. Both platforms prohibit underage trading.

How does Kalshi pay out?
Winning contracts automatically pay $1.00 each. Your profit = $1.00 minus purchase price, minus Kalshi's fee (1-7%). Payouts credit to your Kalshi balance and can be withdrawn to your bank account via ACH (1-3 business days). Kalshi issues 1099 tax forms for your gains. Use the calculator above to estimate your payout.

Is it easy to get money out of Polymarket?
Payouts are in USDC (stablecoin worth $1). Winning shares pay $1.00 automatically. To convert to cash: withdraw USDC to your crypto wallet, then sell on an exchange (Coinbase, Kraken) for USD. The process takes minutes for crypto-experienced users but can feel complex for beginners. Kalshi offers simpler USD withdrawals directly to your bank account.

Next step: use OddsShift to find edges

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