Kalshi
Kalshi Fee Revenue
How much Kalshi actually makes from all that trading — fees collected day by day, who's contributed over time, and how many cents it keeps per contract.
Annualized run rate
/yr
based on trailing 30 days
Avg fee per contract
cents
About this page
Fees are summed from Kalshi's trade records and totaled by day. Fee per contract divides daily fees by daily contracts, so it's the realized average rate Kalshi actually collected — not its posted fee schedule. If revenue climbs while cents-per-contract falls, growth is coming from more volume, not a richer take.
The fees Kalshi collected each day, from the same trading behind the volume charts.
Useful trick: brush around a major volume spike, then check whether fees stayed elevated after volume cooled off.
Daily fees
7-day average
Kalshi bills the aggressor on almost every market, but it also charges the resting side on a named subset — soccer, tennis, rate and inflation markets. This splits the daily total above into those two parts.
Useful trick: switch to Share of total and brush across mid-2025 — the maker component changes level when the flat per-contract maker fee gave way to a price-dependent curve, which a dollar view hides behind the growth in volume.
Maker fees are % of all-time fee revenue ( of ), and % in 2026, spread across a small set of report tickers. The two bands add to the daily total on the chart above them, so this decomposes the headline rather than restating it.
This page reports total fee revenue — everything Kalshi collects, from both sides. The Kalshi series on
Fees & Economics answers a different question: what
one trader pays to execute. That number is the taker band alone,
against
here, because a like-for-like comparison against venues that bill both sides has to count one side at each of them. The gap between the two pages is this maker band, and both figures are correct.
Reported non-sports and sports fees, plus the parlay residual. The published components are mutually exclusive and add up to the headline fee total, so the bands are an exact decomposition of the chart above.
Useful trick: watch the slope, not just the height — a steeper stretch means Kalshi was collecting fees faster in that period.
The realized average fee Kalshi kept on each contract traded.
Useful trick: after a volume spike, use this to tell whether revenue rose from more contracts or from each contract monetizing better.