What is the fee on Kalshi for this market?

At the current typical price of 11¢, about 1¢ per contract (7% × price × (1 − price), rounded up, on orders that take liquidity). On a $50 trade that is about $3.13.

What win rate do I need to break even?

About 11% if you hold to settlement, against a market price of 11%. The gap is the fee.

Markets › Kalshi › Elections

First Democratic contest 2028 on Kalshi

If South Carolina holds the earliest 2028 Democratic presidential contest administered by its election officials or the Democratic Party among the 50 states after Issuance and before Apr 1, 2028, then the market resolves to Yes.

Settles on: The Verge, ABC, Fox News, The Wall Street Journal, The Guardian, Bloomberg News, The Information, CBS, South China Morning Post, NBC, BBC, The Washington Post, Axios, CNN, ABC News Australia, The New York Times, Semafor, MSNBC, the Associated Press, CBC, Reuters, Politico.

Market says (typical open contract)

11%

Median YES price across 4 open contracts, 10 Nov 2026 04:28 UTC.

Real-world odds

—

No independent base rate yet. Until we connect one (sportsbook consensus, forecasts, the score), the market's own price is the best public forecast, and the fee sits on top of it.

Luck needed meter

21% 😈

Mostly decided, says the market. You are paying a fee to collect a few cents the market already agrees on.

The cover charge

Fee and break-even by purchase price
If you buy at	Fee per contract	On $50	Win rate to break even
11¢ (now)	0.7¢	$3.12	11.7%
30¢	1.5¢	$2.45	31.5%
50¢	1.8¢	$1.75	51.7%
70¢	1.5¢	$1.05	71.5%
90¢	0.6¢	$0.35	90.6%

Resting orders pay no fee on this series. Formula: 7% × contracts × price × (1 − price), rounded up, on orders that take liquidity. Break-even assumes you hold to settlement; trading out early pays the fee twice.

How long until your balance is $0 in this market? →

Open contracts right now

Open contracts in this series with price, implied probability, volume and close time
Contract	YES price	Implied	Fee at this price	Real-world odds	Luck needed	Volume	Closes
Will it be reported by any of the Source Agencies that New Hampshire holds the earliest 2028 Democratic presidential contest administered by its election officials or the Democratic Party among the 50 states before Apr 1, 2028? · New Hampshire	84¢	84%	0.9¢	—	32%	36,825	Apr 01, 03:59 UTC
Will it be reported by any of the Source Agencies that South Carolina holds the earliest 2028 Democratic presidential contest administered by its election officials or the Democratic Party among the 50 states before Apr 1, 2028? · South Carolina	3¢	3%	0.2¢	—	7%	30,541	Apr 01, 03:59 UTC
Will it be reported by any of the Source Agencies that Iowa holds the earliest 2028 Democratic presidential contest administered by its election officials or the Democratic Party among the 50 states before Apr 1, 2028? · Iowa	11¢	11%	0.7¢	—	21%	29,244	Apr 01, 03:59 UTC
Will it be reported by any of the Source Agencies that Nevada holds the earliest 2028 Democratic presidential contest administered by its election officials or the Democratic Party among the 50 states before Apr 1, 2028? · Nevada	0¢	0%	0.0¢	—	1%	4,436	Apr 01, 03:59 UTC

Who actually wins this market

Whoever posts the resting orders and collects the spread without paying a fee.
The venue, on every fee.
Not, on average, the person clicking buy because the chart is going their way. That was us.

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