LiquaryvsKalshiUpdated August 2026
The Liquary case, in three numbers
Kalshi is the regulated way to trade event contracts in the United States, and that position is real: CFTC oversight, USD funding from a bank account, and exchange-grade compliance. Its catalog also covers ground crypto venues rarely touch (economic prints, Fed decisions, weather, and thousands of other series), with the depth that comes from being the US default.
If you are a US resident, the honest answer is simple: Liquary is not available to you, and Kalshi is the venue designed for you.
Liquary lives on the other side of the map: a self-custodial venue on Hyperliquid for traders outside the US. There is no exchange account holding your funds; an email code creates a wallet whose keys stay with you, and no KYC file between you and your first trade.
It is also more than a prediction-market site. Predictions share one USDC balance with perps and spot, so the same conviction can be expressed, hedged or levered without moving money between platforms. Fees follow the crypto-native model rather than the exchange model: 0% until October 31, 2026, then a flat 0.05% charged only when you sell, versus a taker curve that peaks exactly where most event contracts trade, around even odds.
And because Hyperliquid prunes resolved markets from its API, Liquary runs its own indexer to preserve the full archive: resolved questions, odds history, volumes and trader win-rates.
Live HIP-4 prediction markets on Hyperliquid, no account needed to look.
Yes, that is exactly the split. Kalshi serves US residents under CFTC regulation; Liquary serves traders outside the US who want self-custody and crypto-native rails. If you are in the US, use Kalshi; if you are not, Kalshi was never built for you and Liquary is.
No. Signing in with an email one-time code creates a self-custodial wallet; there is no identity file, and funds never sit in a company account. Kalshi, as a regulated US exchange, requires full identity verification before trading.
Kalshi charges a taker fee that peaks at even odds: roughly $1.75 per 100 contracts at 50¢, and more on its crypto series. The Liquary fee is 0% until October 31, 2026, and a flat 0.05% charged only when you sell after that. Hyperliquid's exchange fee applies separately, as venue fees do everywhere.
Liquary trades in USDC. The app guides every route in: card purchases, transfers from an exchange account, or bridging from another chain, all landing on your self-custodial balance.
HIP-4 is Hyperliquid's native prediction-market standard: real-money markets that trade on the chain's on-chain order book, settle in USDC, and resolve on-chain. Liquary is a frontend for these markets; the venue and settlement are Hyperliquid itself.
Facts checked August 2026. Kalshi's fee schedule is formula-based and updates regularly; check their published schedule for current rates. Nothing on this page is financial advice.
