Kalshi and Crypto.com are two different platforms, both in size, market variety and the overall offering. Read our Kalshi vs Crypto.com full comparison to learn more about the platforms.
Kalshi vs Crypto.com: History and Legality
Kalshi and Crypto.com operate legally in the US as CFTC-regulated prediction market platforms. The Commodity Futures Trading Commission regulates the US derivatives market and ensures that prediction markets remain regulated since they don’t require a betting licence.
Kalshi is available as a Designated Contract Market (DCM) in all 50 states, but is also banned by some states, so you’d have to check if you are allowed to trade in your state. The platform is also available outside the US in countries where it is not illegal.
Crypto.com is also available in all 50 states, but it is currently banned from operating in the state of New York. Crypto.com is also a cryptocurrency trading platform, and as such, is available in other countries, but the prediction markets are not available outside the US.
Kalshi vs Crypto.com - Key Differences
Even though Kalshi also allows crypto payments, Crypto.com is a crypto-first platform and a crypto broker and exchange, which is the main difference between the two platforms. However, that’s not the only one. Read more below about Kalshi vs Crypto.com differences.
Kalshi vs Crypto.com: Security, Transparency, and Trading Integrity
Both platforms are secure and safe to use, especially since they are CFTC-regulated. Crypto.com did suffer a cybersecurity breach a few years ago, but there haven’t been reports of any incidents afterwards.
Crypto.com’s prediction markets are only available in the US, which means users from other countries can’t trade markets on the platform, as the company clearly states.
These are trading platforms, but you should know that the maximum return on one contract is $1, and the profit you make is the amount you get by deducting what you paid for the contract from the $1 you receive.
Regulation and Availability: Kalshi vs Crypto.com
Since Crypto.com is primarily a crypto trading platform, it is possible that only that side of the platform is available in your country, in case your government bans prediction markets. In the US, Crypto.com’s prediction markets are available in all states, but are banned in the state of New York.
Kalshi is also available in all US states and beyond, but it is banned in a few states and currently operates legally in around 40 states.
Market Coverage and Liquidity: Kalshi vs Crypto.com
With Crypto.com being a crypto exchange platform first, it doesn’t offer the variety of prediction markets that Kalshi does. You can find pretty much everything on Kalshi’s platform, from sports, politics, entertainment, weather, finances, and others.
Crypto.com has an advantage in crypto markets, and it also covers sports, politics, economics, finance, and culture. The trading volume is much larger at Kalshi, according to reports, with millions of dollars traded in its most popular markets.
Kalshi or Crypto.com Fees: Which Is Cheaper?
First, you should note that both platforms charge fees, only at different points in your trading process. Kalshi charges small trading fees and a flat $2 fee for debit card withdrawals. Reading fees are calculated based on the contract price.
Crypto.com charges the exchange fee and the technology fee when you purchase your contracts. These fees are also deducted when your contracts are closed as a win. There is also a $0.05 hold called Slippage that you need to calculate in the price, but it typically doesn't get charged.
Which Prediction Market Is Better: Kalshi or Crypto.com?
If you are not there just for prediction markets but for the crypto exchange as well, Crypto.com is the option for you. The selection of sports markets is the largest, while others are not so numerous.
Kalshi, on the other hand, offers a wide variety of options and many markets across all areas, including sports.
So, Kalshi vs Crypto.com, which is better? The answer depends on what you need from a prediction market platform. Crypto.com is less crowded, but it doesn’t offer all the options you have with Kalshi. It is also crypto-native, which attracts crypto users.
Weigh the pros and cons of both platforms and choose the one that suits you best.
Key Considerations for Kalshi and Crypto.com Users
To sum it all up in our Kalshi vs Crypto.com comparison, both platforms charge fees, Kalshi offers a wider variety of markets and market depth, and Crypto.com offers a crypto exchange alongside the prediction markets. Sports markets are covered on both platforms, but other areas are not so well covered on Crypto.com.
Kalshi is a much larger platform with high market liquidity, but there have been some controversies over payouts in the past, all of which have been resolved. Crypto.com also had some controversies in its business, but they have also been resolved.
So ultimately, the Kalshi or Crypto.com decision is all yours. Maybe you can read other users’ reviews, or even try the platforms yourself before picking a favourite.