Kalshi

Taker P&L

How Kalshi's aggressive bettors — the takers who cross the spread — did once their markets settled: what they won or lost, what fees cost them, and which categories did the damage.

How this is calculated

Gross P&L shows how settled taker bets performed before fees; net P&L subtracts the fees they paid. Maker P&L is the other side of those same trades. ROI is measured against the taker's entry cost (the yes price for yes bets, 100 minus the price for no bets), counting only the settled share of each day's stakes so it matches the settled-only P&L.

Net taker P&L

Taker fees paid

of settled taker-side volume

Net ROI on taker cost

settled taker-side volume · settled

Settled coverage

settled contracts

Cumulative Taker P&L

The gap between the gross and net lines is fee drag. If both lines fall, takers are losing to outcomes before fees even enter the picture.

Cumulative Maker P&L

Maker P&L is the other side of those same settled taker trades. The gap between the lines is maker fees, which only apply in maker-fee markets and changed from flat per-contract pricing to a price-curve fee in July 2025.

Useful trick: the maker chart is the taker chart flipped around — a steep taker loss means the market-makers on the other side won big.

Net maker P&L

Maker fees paid

Gross maker P&L

Daily Outcome Swings

Each day's net result for takers, colored by return on what they staked — so a big-dollar day isn't mistaken for a high-percentage one.

Price Calibration

For contracts bought at each price, how often the taker's chosen side actually won. The x-axis is the contract-weighted price paid inside each 5¢ band, not the band midpoint; the diagonal is perfect calibration.

Bars are ±2 event-clustered standard errors, because thousands of trades on markets tied to one event do not create thousands of independent outcomes. Circle area follows the effective event count, not prints or contracts.

Market Leaderboard

The individual settled markets — specific real-world events, not categories or recurring series — where takers made or lost the most money. Toggle to see the biggest taker wins (maker losses) or the biggest taker losses (maker wins).

Ranked by net taker P&L magnitude within the selected direction. Includes only markets settled since 2026-04-15 (the start of the current P&L data scope) — pre-2026 markets, including the 2024 election, have no P&L data to rank by and won't appear here.

Category Leaderboard

The categories where takers won or lost the most net dollars — sports broken out sport-by-sport rather than lumped into one Kalshi "Sports" bucket. Switch to Detailed for the sport-by-sport split.

Includes only markets settled since 2026-04-15 (the start of the current P&L data scope) — pre-2026 markets, including the 2024 election, have no P&L data to rank by and won't appear here.

Maker fee revenue by category

The other side of the same trades: which categories generate the most fee revenue from market-makers, not just takers. Maker-fee markets are a small subset of Kalshi's book, so most categories show little or nothing here even when taker activity is high.

Sports vs non-sports detail

Optional split between the newer sports regime and the older non-sports book.

Focus category detail

Optional drill-in for whether one category's losses came from a steady grind or a few sharp settlement events.