Kalshi vs Novig
A detailed head-to-head comparison of Kalshi and Novig — pricing, features, and which one wins for different use cases.
Kalshi
The first CFTC-regulated event contracts exchange — legally trade on economic and political outcomes in the US
Kalshi is the only CFTC-regulated event contracts exchange in the United States, licensed after a multi-year legal process that concluded in 2023 and allowed it to offer prediction markets on election…
Full review →Novig
Zero-vig US peer-to-peer sports prediction exchange
Novig is a US peer-to-peer sports betting exchange whose pitch is right in its name: 'no vig' — it aims to eliminate the built-in margin (the vigorish) that traditional sportsbooks charge, by matching…
Full review →Feature Comparison
| Feature | Kalshi | Novig |
|---|---|---|
| Settlement Mechanism | CFTC-regulated exchange | P2P exchange (regulated) |
| Trading Model | Central limit order book | Peer-to-peer order book |
| Collateral Token | USD | USD |
| Min Trade | $1 | $1 |
| Api Access | ✓ | ✗ |
| Embeddable Odds | ✓ | ✗ |
| Geo Restrictions | US-focused (not all countries) | US, varies by state |
| Market Creation | CFTC-approved only | Exchange-approved |
| Mobile App | ✓ | ✓ |
| Governance Token | ✗ | ✗ |
Kalshi Pricing
Kalshi
Free to trade
Free
- ✓CFTC-regulated
- ✓USD-denominated
- ✓US persons eligible
- ✓1,000+ markets
- ✓API access
Novig Pricing
Novig
Free to trade
Free
- ✓Zero-vig peer-to-peer model
- ✓US sports exchange
- ✓Fairer P2P pricing
- ✓Modern mobile app
- ✓Real-money (varies by state)
Verdict: Which Should You Choose?
Kalshi is the better pick if you need cftc-regulated — legally accessible to us persons unlike polymarket. Novig wins when zero-vig model removes the sportsbook's built-in margin. Both are production-ready — the right choice depends on your team's workflow and budget.