Complete comparison of the three major prediction markets
| Specification | Polymarket | Kalshi | Manifold Markets |
|---|---|---|---|
| Total Volume | $2.1B+ | $380M+ | M$2.4B (play) / $50M+ (USD) |
| Active Markets | 12,400+ | 3,200+ | 40,000+ |
| Currency | USDC | USD | Mana (M$) / USD |
| Blockchain | Polygon (L2) | None (centralized) | Optional (Polygon) |
| US Access | Restricted (VPN) | Full legal | Open to all |
| Fees | 2% on winnings | 1–7% per contract | None |
| KYC Required | Basic (email) | Full (CFTC mandated) | None for play money |
| Withdrawal | Crypto wallet | Bank account | Bank account (USD bridge) |
| Market Creation | Open (with bond) | Limited (curated) | Anyone can create |
| Speed | Milliseconds (on-chain) | Seconds (order book) | Milliseconds (AMM) |
| Custody | Self-custodial | Hosted (with custodian) | Hosted / self-custodial |
| Best For | Global traders, crypto native | US traders, institutional | Community forecasters, niche events |