Everything you need to trade
prediction markets with confidence

From your first contract to advanced arbitrage strategies — structured guides, interactive tools, and a complete reference library.

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In-depth guides
120+
Glossary terms
3
Skill levels

Choose your path

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All guides

7 total

Expected Value Calculator

Interactive

Calculate whether a trade has positive expected value before you place it. Adjust your probability estimate and see the EV update instantly.

65%
1%50%99%
Implied probability: 58%
Contracts purchased172.4
Max profit (if correct)+$72.41
Max loss (if wrong)-$100.00
Expected value+$12.07
Your edge+7.0pp
✓ Positive EV — this trade is worth making

Core concepts

Quick reference
⚖️

Price = Probability

A contract at $0.67 means the market thinks there's a 67% chance the event happens.

🔄

Exit any time

You don't have to wait for resolution. If your contract moves in your favour, sell early and lock in profit.

🎯

Edge, not opinion

Profitable traders ask "is the market's probability wrong?" — not "what will happen?"

📊

Arbitrage exists

The same event can be priced differently on Kalshi vs Polymarket. That gap is a potential risk-free profit.

Key terms

Implied Probability
The probability suggested by a contract's price. $0.72 = 72% implied probability.
Edge
Your advantage over the market. If you think 75% and market shows 65%, you have a 10pp edge.
Arbitrage
Buying both sides of the same event on different platforms where prices disagree.
Resolution
When the event outcome is determined and contracts pay out at $1 or $0.
Bid-Ask Spread
Gap between buy and sell prices. Tighter spreads = better liquidity = lower trading costs.
Expected Value (EV)
Probability-weighted average of all outcomes. Only take positive EV trades.
Also in Compare

How prediction markets compare

Side-by-side with stocks, sports betting, options, polls, and fantasy sports.

Also in Playbooks

Event trading playbooks

Structured strategies for Fed meetings, elections, Super Bowl, and the World Cup.

Ready to start trading?

See real-time probabilities from Kalshi and Polymarket — side by side, with arbitrage opportunities highlighted.