Kalshi vs Polymarket for the Midterms: Which Should You Use?
Kalshi vs. Polymarket for the 2026 Midterms: Compare volume, fees, election markets, and features. Claim up to $50 in bonuses with promo codes ODDSCHECKER and CHECK to trade where you get the best odds!
Sam Eaton - October 30, 2026, 6:00 PM EDT
3 Minute ReadKalshi vs Polymarket for the Midterms: Which Should You Use?
Kalshi is the bigger and deeper platform for the 2026 midterms, while Polymarket US offers a wider spread of down-ballot markets and better election-night tools. Prices on the main markets are usually within a cent or two of each other, so most traders don't need to choose: open both, claim both welcome bonuses and buy wherever the price is better.
New users can get $25 on each: Kalshi promo code ODDSCHECKER and Polymarket promo code CHECK when you sign up through oddschecker.
Kalshi vs Polymarket at a glance
Kalshi | Polymarket US | |
|---|---|---|
Regulation | CFTC-regulated exchange | CFTC-regulated exchange (relaunched for US users in January 2026) |
Midterm trading volume | Nearly $1.1 billion (CNN, Oct 23) | More than $340 million, including its international site (CNN, Oct 23) |
Midterm markets | House, Senate, balance of power, seat counts, wave markets, margins, dozens of House districts | More than 560 markets, including governors, ballot measures and some local races |
Trading fees | Takers pay 0.07 × contracts × price × (1 − price); most resting orders pay nothing | Takers pay 0.0695 on the same price curve (from early October 2026) |
Election night | Live trading until settlement | Midterms Hub with live vote counts next to prices |
Welcome offer | $25 bonus credit with code ODDSCHECKER | $25 trading bonus with code CHECK after a $10 deposit (not in Nevada) |
Referral program | $25 per friend, up to $1,000 | $25 per friend, up to $1,250 |
Midterm prices side by side
Market (Oct 30) | Kalshi | Polymarket |
|---|---|---|
Democrats win the House | 92% | 94% |
Democrats win the Senate | 69% | 69% |
Texas Senate: Talarico (D) | 70% | 72% |
Ohio Senate: Brown (D) | 70% (Oct 30) | 71% (Oct 30) |
Maine Senate: Jackson (D) | 68% (Oct 30) | 69% (Oct 30) |
A one-cent gap sounds small, but on 100 contracts it's $1, and over a busy election week it adds up. Our US politics odds page helps you keep track.
Where Kalshi is stronger
- Liquidity. Kalshi's House market alone had passed $150 million traded by October 30. In October's first 20 days, Kalshi did almost $18 million on the Texas Senate race against about $3.7 million on Polymarket US.
- Ways to trade the size of the result. Seat-count ladders, blue wave markets and margin-of-victory markets let you trade more than just who wins.
- Combo markets. Balance-of-power and state combos, such as Ohio's Senate and governor races together.
Where Polymarket is stronger
- Breadth. More than 560 midterm markets, reaching down to ballot measures, local races and even county results.
- Election night. The Midterms Hub map shows live vote counts alongside prices, which makes it easier to trade as results arrive.
- A bigger referral cap. Up to 50 referred friends against Kalshi's 40.
Settlement differences
Read the rules on any market before you buy. Kalshi's Senate control market settles on media consensus, falling back to the party of the president pro tempore on February 1, 2027. Polymarket's Ohio Senate market, for example, resolves when the Associated Press, Fox News and NBC all call the race, or on certification if they don't.
Our verdict
Use both. The bonuses are separate, the prices often differ by a cent or two, and each platform has markets the other doesn't. If you only want one, Kalshi has the deeper markets on the headline races, while Polymarket is better for tracking election night and trading the long tail of down-ballot contests.
Kalshi vs Polymarket FAQs
Can I use Kalshi and Polymarket at the same time?
Yes. They're separate platforms with separate accounts and separate welcome bonuses.
Which has better midterm odds?
Neither consistently. Prices on the main markets have been within one or two cents of each other, so compare before every trade.
Which has lower fees?
They're now very close. Both charge takers on a curve that peaks at 50¢, and Kalshi's resting orders are usually free.
Are both legal in the US?
Yes. Both are CFTC-regulated, subject to age and state eligibility rules.
Odds and fees as of the dates shown and subject to change. Kalshi and Polymarket US are CFTC-regulated exchanges. Age and state eligibility rules apply, and promo terms apply. The Polymarket offer is not available in Nevada. Trading event contracts carries a risk of loss. If you or someone you know has a gambling problem, call 1-800-GAMBLER.
