Prediction markets · Independent research

Understand the market.
Know the cost.

Prediction-market comparisons, fee explanations and transparent calculators. Start with the exact product and the question you need answered.

Source-led researchTransparent costsNo paid rankings
Inside the numbersExplainer
60%IMPLIED PROBABILITY
Example price60¢
If Yes settles$1.00
If No settles$0.00

A hypothetical $1 binary contract, before fees.
Market price expresses expectations, not certainty.

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Choose your task

A useful answer, then a useful next step.

Calculations you can inspect

One price. Several different meanings.

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Worked example

Translate a 60¢ quote

60% implied before costs. Not a true-probability forecast.

Worked example

Understand $51.75 at risk

100 × 50¢ + $1.75 fee; win $48.25 net or lose $51.75.

Worked example

Compare complete spot costs

$1,000 at 0.8% means $8 execution before funding, spread and withdrawal.

Detailed decisions

When the details matter more.

Dated base-rate sensitivity worksheet

This is reproducible arithmetic, not measured execution or a market-wide ranking. Kraken Pro and Gemini ActiveTrader base taker snapshots were checked October 24, 2026. Eligible tier, asset pair, funding rail and order size can change the result; a $100,000 trade need not remain in the illustrated base tier.

On a hypothetical $10,000 spot transaction, execution is $80 or $120 at the two dated base rates; a 0.5 percent spread adds $50 and two fixed $4 costs add $8.
Exact productAmount USDExecution USDSpread USDFunding / withdrawal USDTotal USD
Kraken Pro spot1,0008.000.000 / 08.00
Kraken Pro spot1,0008.005.004 / 421.00
Gemini ActiveTrader spot1,00012.000.000 / 012.00
Gemini ActiveTrader spot1,00012.005.004 / 425.00
Kraken Pro spot10,00080.000.000 / 080.00
Kraken Pro spot10,00080.0050.004 / 4138.00
Gemini ActiveTrader spot10,000120.000.000 / 0120.00
Gemini ActiveTrader spot10,000120.0050.004 / 4178.00

Reproduce each CSV row: amount × execution% / 100 + amount × spread% / 100 + funding USD + withdrawal USD. Percentages apply to the same USD amount. Example: $10,000 × 0.8% + $10,000 × 0.5% + $4 + $4 = $138. Hypothetical costs are not verified provider charges.

The research briefing

The next dates. The important details.

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Next on the calendar: the October FOMC meeting

The Federal Reserve lists October 27–28 for its next meeting and December 8–9 for the final scheduled meeting of 2026. A calendar date is not a rate forecast.

Read the context →

US fees: read the October 19 schedule in its own product

Polymarket US’s standard taker coefficient is 0.0695 in its October 19 schedule; Table Tennis, combos and rebate tiers have separate treatment.

Read the context →

Novig: live games and futures need different fee checks

Novig v3 distinguishes WHEN_LIVE from ALWAYS schedules and one-cent payout units. Its documented maker-credit changes took effect October 22.

Read the context →
Explore the official event calendar →
The foundation

A little context. A better decision.

All research
Market fundamentals

What is a prediction market?

A market for contracts tied to defined outcomes. Its prices can express expectations, while its rules determine what eventually gets paid.

3 min readDesk research
Comparison

Kalshi vs Polymarket US: costs, funding and rules

Both use event contracts, but the full comparison includes product identity, order execution, funding and exceptional settlement.

3 min readDesk research
Beginner guide

How Kalshi works: from a contract price to settlement

A contract has a price today and a defined payoff later. Understand the question, your total outlay and the loss scenario before interpreting its implied probability.

5 min readDesk research
Product intelligence

Same questions. Different platforms.

Platform directory
Before you choose

The product matters
more than the logo.

Start with access, contract rules and all-in cost. Keep Polymarket US separate from its international product.

See the comparison framework
ProductNormalised cost basisRule distinction
Kalshi100 × 50¢: $1.75 general taker modelMarket-specific observation and lifecycle
Polymarket US100 × 50¢: $1.74 standard taker collectionUS dollar account and US settlement rules
Novig10,000 cent units at 50%: $1.50 when chargedWHEN_LIVE games / ALWAYS specified futures

Dated schedule examples, not equivalent markets or executable quotes. Funding, spread and market exceptions excluded.

K

Kalshi

Event contracts

P

Polymarket US

US product · separate terms

N

Novig

Sports contracts · live and futures fees

Independent research. We receive no commission from the official links on this page. Our disclosures →

Read the fine print

Costs deserve a closer look.

Fee guide

Kalshi fees: formulas, funding and a full trade example

The published schedule separates general taker charges, market-specific maker charges, settlement and funding. Here are the numbers and their limits.

4 min readDesk research
Fee guide

Polymarket fees: the US and international schedules

US standard taker fees, market exceptions, maker rebates and international coefficients belong in separate columns.

3 min readDesk research
Spot crypto comparison

Kraken vs Coinbase: compare the spot products

Kraken publishes a numeric Pro schedule. Coinbase Advanced directs customers to their account-specific fee tier. Simple purchase pricing works differently on both.

4 min readDesk research
Explore the publication

Connected subjects. Clear boundaries.

Complete editorial index

Learn in sequence

  1. What is a prediction market? →
  2. How Kalshi works: from a contract price to settlement →
  3. Polymarket US vs international: two separate products →
  4. Kalshi fees: formulas, funding and a full trade example →
  5. Kalshi payout calculator: payout is not profit →

Substantial editorial changes · October 25, 2026

Added complete-cost and plan-capacity decision paths, rewritten product comparisons, and CPI and employment release definitions. These are original editorial updates, not a live market feed.

See the workflow

Official Trezor demonstration

Watch Trezor set up a Safe 3: seal check, firmware, backup and PIN →

Trezor's own walkthrough of a new Safe 3, from checking the holographic seal to installing firmware in Trezor Suite, writing down the backup words and choosing a PIN.

Uploaded 2023-12-13 · 6 min
Official Trezor demonstration

Watch Trezor set up a Safe 5: firmware, 20-word backup and PIN →

Trezor's step-by-step Safe 5 setup in Trezor Suite: seal check, firmware install, authenticity check, a single-share 20-word backup, PIN and coin selection.

Uploaded 2024-07-23 · 7 min
Official Koinly demonstration

Watch Koinly import Coinbase history: read-only sync or yearly CSVs →

Koinly's walkthrough of bringing Coinbase activity into Koinly, either through a read-only account connection or yearly CSV statements, plus the separate Coinbase Pro export.

Uploaded 2024-05-24 · 8 min
Browse official demonstrations →
Our editorial standard

Less noise.
More understanding.

Understand what a product does, how its costs work and which rules govern an outcome. Our guides use visible sources, dated examples and consistent comparison criteria.

Read our methodology