Fanatics Markets vs Kalshi

How Fanatics Markets vs Kalshi compare on our ratings, prediction market specs, funding, pros and cons.

VS
Kalshi4.3/5
Feature
Ratings
Our score3.6/54.3/5
User ratingNo reviews yetNo reviews yet
Market selection3.54.5
Liquidity3.54.5
Fees3.04.0
Resolution quality4.04.5
Ease of use4.04.0
Specs
Market typesPolitics, Sports, Crypto, Economics, Culture, WeatherPolitics, Sports, Crypto, Economics, Culture, Weather
Settles inUSDUSD
ChainsNot disclosedOther
Trading feesNot disclosedModel fee rounded to $0.000001 precision with balance rounding fees
Resolution sourceNot disclosedOfficial government and industry statistics, primary source reporting
Available in the US Yes Yes
KYC required Yes Yes
Regulated venue Yes Yes
Market topicsNFL, NBA, MLB, NHL, Soccer, Tennis, Elections, Crypto, MacroeconomicsElections, Macroeconomics, Sports, Cryptocurrency, Weather, Financial Indices
Liquidity rewards YesNot disclosed
Company
Founded20252018
HeadquartersUnited StatesUnited States
InvestorsNot disclosedBaillie Gifford, Layer Global, TCV, Coatue +9
Strengths and weaknesses
Pros
  • Operates under CFTC regulatory oversight in the United States
  • Contracts settle unambiguously at $1 for correct outcomes or $0 for incorrect ones
  • Multi-view dashboard tracks up to 8 order books on a single screen
  • Earns FanCash loyalty credits on both winning and losing trades
  • Registered Designated Contract Market status provides federal regulatory oversight for US-based traders
  • Deep liquidity exceeding $2B in weekly volume across major events in May 2026
  • Transparent dollar-denominated balances eliminate stablecoin depeg risks
  • Subpenny orderbook precision down to $0.0001 allows fine-grained execution
Cons
  • Restricted to verified US residents aged 21 and older in eligible states
  • Mandatory KYC identity verification is required before trading
  • Centralized model introduces platform custody exposure for deposits
  • Niche markets like crypto and climate often show low liquidity and volume
  • Requires full identity verification (KYC), preventing anonymous participation
  • Centralized custody of cash balances without on-chain asset withdrawals
  • Subject to regulatory exclusions, including a 2026 trading ban on US Senate staff
  • Unprofitable to profitable user ratio reached 2.9 to 1 in 2026
Best forUS residents trading sports contracts, Event forecasters wanting CFTC oversight, Traders tracking live sports order booksUS residents wanting regulated event contracts, Quantitative traders using FIX and REST APIs, Sports bettors preferring central orderbook pricing

Highlighted cells show the stronger value in each row. Data comes from each provider's site and public sources; check details before you sign up.

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