Kalshi and Novig are both CFTC-designated contract markets, so both are federally regulated US exchanges. The difference is scope: Kalshi lists sports, politics, economics, weather, culture and more, while Novig is sports only. On fees, Novig is cheaper for pre-game trades. Here’s how they compare, from each platform’s help centre and documentation as checked October 2026.
Side by side
| Kalshi | Novig | |
|---|---|---|
| Regulation | CFTC designated contract market | CFTC designated contract market since June 2026 |
| Markets | Sports, politics, economics, weather, culture and more | Sports only |
| Minimum age | 18 | 21 |
| Pre-game sports taker fee | 0.07 × p × (1 − p) on most markets | None |
| Live and futures taker fee | 0.07 × p × (1 − p) on most markets | 0.06 × p × (1 − p) |
| Maker fee | Only on some markets | None |
| Card deposits | May carry a 2% fee | 3% |
| API | Public reads, signed trading, demo | Signed, with a paper environment |
p = contract price in dollars. From Kalshi’s fee schedule and help centre and Novig’s help centre and developer docs, checked October 2026.
Where you can use them
Novig blocks Arizona, Michigan and Nevada. Kalshi’s sports contracts are also off-limits in some states because of court orders, including Nevada and Michigan, though its other markets may still be listed there. Several states are suing one or both platforms; see Is Kalshi legal? and Is Novig legal?
What it costs: an example
Buying 100 contracts at 50¢ on a game before it starts: on Kalshi the standard taker fee is 0.07 × 0.50 × 0.50 × 100 = $1.75; on Novig a pre-game straight has no fee. The same trade once the game is live costs $1.75 on Kalshi and $1.50 on Novig. If you place a resting order that someone else fills, Novig charges nothing either way. Detail: Kalshi fees · Novig fees.
Kalshi’s sports markets right now
Kalshi sports: most traded
Latest price for “Yes”, shown as an implied chance. Polymarket volume in USD, Kalshi in contracts. Updated 2 min ago.
We don’t track Novig’s prices on our boards yet, so compare the games you trade in each app.
Choose Kalshi
You want politics, economics or culture as well as sports, you’re 18 to 20, or you live where Novig isn’t offered.
Choose Novig
You’re 21+, only trade sports, and mostly buy before the game starts, where Novig charges no fee.
FAQ
Is Novig cheaper than Kalshi?
Are Kalshi and Novig both legal?
Can I use Novig at 18?
Related: Novig alternatives · Polymarket vs Novig · Kalshi alternatives · Novig review