Kalshi Wins the Moneyline. The Spread and Total Are More Complicated.
After applying Kalshi's per-contract taker fee, Kalshi posts the best moneyline price 34.8% of the time, the highest of any single book in a field of 17. On spreads (2.9%) and totals (13.8%), the fee mostly erases the edge. The structural advantage is a moneyline story, not a sweep.