Study of 59 betting sites finds prediction markets cheapest on fees
A study of 59 betting sites found prediction markets build the smallest fee into their odds, though only one platform remains cheapest once all fees are counted. The Coincarp.com analysis compared Polymarket, Kalshi, Novig, and ProphetX on cost competitiveness for sports betting. CBS Sports separately listed Kalshi, Polymarket, and ProphetX alongside conventional handicapping in a Bears-Eagles Monday Night Football preview. ProphetX was the lowest-cost venue in the study's full-fee accounting.
Fee transparency now joins price convergence as a weapon in the regulated prediction market wars. When media outlets like CBS Sports benchmark Kalshi, Polymarket, and ProphetX side by side, traders shop on cost as well as line sharpness. ProphetX's win on all-in fees pressures Kalshi's FanDuel-powered spreads and Polymarket's organic liquidity to justify any premium.
Platforms can no longer hide vagueness in withdrawal costs or spread markups behind slick interfaces. The study turns a buried cost into a marketing claim that smaller venues can wield against incumbents. For traders, the comparison means real savings shift with the full fee stack, not just the headline price. The first platform to publish an audited all-in cost scorecard will set the comparison standard rivals must match.