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Kalshi Wiki: Quick Guide for Traders

Kalshi wiki searches usually seek a concise explanation of what Kalshi is and how it differs from other prediction-market venues. Kalshi is a CFTC-regulated event-exchange offering binary and categorical contracts priced like options. If you’re a trader or crypto-native comparing platforms, this guide explains the basics, key differences with Polymarket, and where an arb tool like PolyArb fits in.

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What Kalshi is

Kalshi is a regulated, centralized event-exchange that lists binary and categorical outcome contracts for economic, political, and topical events. Contracts settle to $1 if an outcome occurs and $0 if it does not, similar to prediction markets.

Kalshi operates under CFTC oversight and offers an order book with margin and clearing rules aligned to U.S. regulation. That makes it suitable for U.S. retail traders who need a KYC-backed, regulated venue.

How Kalshi differs from Polymarket

Polymarket is a decentralized prediction-market exchange built on Polygon using pUSD and the Gnosis CTF for outcome tokens. Polymarket’s settlement, wallets, and relayer model differ materially from Kalshi’s regulated, centralized infrastructure.

For traders this means different trade workflows, custody models, and geo restrictions. Polymarket is gasless via a Relayer and supports wallet-native trading; Kalshi requires an account and operates under CFTC jurisdiction.

Why traders compare platforms

Traders evaluate venue liquidity, fees, market coverage, regulatory fit, and execution latency. Kalshi’s regulated structure is a selling point for U.S.-based traders needing KYC and margin; Polymarket appeals to crypto-native users who prefer pUSD, non-custodial wallets, and on-chain outcome tokens.

If you’re scanning for arbitrage opportunities, cross-platform spreads can appear, but PolyArb focuses on intra-Polymarket arbitrage where speed and guaranteed edge matter more than cross-exchange regulatory differences.

Where PolyArb fits

PolyArb is a Polymarket-focused arbitrage bot sold at $99/month. It advertises 40ms latency vs ~800ms for free bots, Telegram and Discord alerts, non-custodial operation, and a $7.62 minimum guaranteed edge per trade. PolyArb is designed for rapid intra-market arbitrage on Polymarket's CLOB.

Remember: even mechanical spread capture carries risks — resolution disputes (UMA), partial fills, slippage, fee changes, and settlement timing. PolyArb’s features aim to reduce execution and monitoring risk, not eliminate fundamental market risks.

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FAQ

Is Kalshi legal in the U.S.?
Yes—Kalshi operates under CFTC regulation and provides a KYC-backed, regulated market structure for U.S. traders.
Can I arbitrage between Kalshi and Polymarket?
Cross-platform arbitrage is possible in principle, but differences in custody, settlement, geo restrictions, and latency make it operationally complex. PolyArb focuses on intra-Polymarket arbitrage instead.
Does PolyArb trade on Kalshi?
No. PolyArb is built for Polymarket CLOB arbitrage. It does not route orders to Kalshi.
What risks remain when using an arbitrage bot?
Key risks include UMA resolution disputes on Polymarket, slippage and partial fills, fee changes, smart-contract and settlement timing risk, and regulatory or geo restrictions. No automation removes all market risk.

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