Compare

369X, Polymarket and Kalshi, side by side.

Polymarket and Kalshi are the two largest prediction markets and both run order books. 369X’s design differs on pricing (an LMSR market maker), market creation (user requests with a creator fee) and leverage on outcomes. 369X is launching on testnet; the others are live at scale, and that gap matters.

Competitor information as of September 2026. Fees and rules change; see the linked official pages.

The comparison

The 369X column describes its design, with the status of each row. The other columns describe what their official pages documented on the check date, with a link to each source.

369X design compared with competitors (competitor information as of September 2026)
Feature	369XDesign; status shown per row	PolymarketInternational platform	KalshiUS-regulated exchange
Venue model	Decentralised protocol on BNB Smart ChainTestnet launch	Crypto-native platform. A separate CFTC-regulated venue, Polymarket US, serves US users with KYC.Polymarket, 14 August 2026 (opens in a new tab) · Bitcoin Magazine (opens in a new tab)	Centralised exchange regulated by the CFTCKalshi, 20 March 2026 (opens in a new tab)
Who holds funds	Your wallet and the protocol's contracts; no company custody intendedIntended design	Your own wallet on the international platformPolymarket (opens in a new tab)	Kalshi account (custodial)Kalshi (opens in a new tab)
How prices are quoted	LMSR automated market maker quotes while a market is openTestnet launch	Order book, with maker rebates for resting liquidityPolymarket, 21 July 2026 (opens in a new tab)	Order book (makers and takers)Kalshi (opens in a new tab)
Who creates markets	Users request; 369X reviews; approved requests go livePlanned for mainnet	Markets team, with user suggestionsPolymarket, 19 April 2026 (opens in a new tab)	Markets team, with an ideas feed for suggestionsKalshi (opens in a new tab)
Pays the market's originator	Yes: 0.5% of eligible volume to the approved creatorPlanned for mainnet	Not documented in the sources checkedPolymarket, 19 April 2026 (opens in a new tab)	Not documented in the sources checkedKalshi (opens in a new tab)
Leverage on a YES/NO outcome	2× to 10× on outcome positionsRolling out	Offers perpetuals on assets (indices, commodities, crypto, equities), a separate product from outcome sharesPolymarket (opens in a new tab)	Not documented in the sources checked for outcome contractsKalshi (opens in a new tab)
Trading fee model	2% of trade value on each buy and sell, before staking discountsTestnet launch	Takers pay C × rate × p × (1 − p); rate 0.04–0.07 by category; makers pay nothing; geopolitics fee-freePolymarket (opens in a new tab)	Takers pay round-up(0.07 × C × P × (1 − P)) on standard contracts; maker fees are lowerKalshi, 7 July 2026 (opens in a new tab) · Kalshi (opens in a new tab)
Retail liquidity provision	LP Vault: deposit to back all markets; shares fees and lossesTestnet launch	Place resting orders and earn maker rebatesPolymarket, 21 July 2026 (opens in a new tab)	Place resting (maker) ordersKalshi (opens in a new tab)
Native token	$369X, fixed 369M supply, with fee-funded buyback and burnAt token launch	No live token documented in the sources checkedPolymarket (opens in a new tab)	No tokenKalshi (opens in a new tab)
Access and identity checks	Wallet-based, no account KYC in the design; restricted jurisdictions blockedIntended design	39 countries fully restricted, including the US; four more are close-onlyPolymarket, 14 August 2026 (opens in a new tab)	Identity verification at signup; many countries supported, with restrictionsKalshi, 20 March 2026 (opens in a new tab)

Fees on matched assumptions

Matched assumptions. Buying 100 YES shares at an average price of 50¢ ($50 of shares), one way, as a taker. Network fees and price impact are excluded.

369X$1.002% of $50. $0.79 at the top staking tier (1.575%).Testnet launch
Polymarket, crypto market$1.75100 × 0.07 × 0.50 × 0.50. Politics or finance (rate 0.04): $1.00. Geopolitics: $0. Makers: $0.Polymarket (opens in a new tab)
Kalshi, standard contract$1.750.07 × 100 × 0.50 × 0.50, rounded up. Makers pay less.Kalshi, 7 July 2026 (opens in a new tab)

Fee shapes differ. Polymarket and Kalshi fees shrink toward the extremes (a trade at 90¢ costs far less than one at 50¢), while 369X's 2% is a flat share of trade value. At 90¢, 100 shares cost 369X $1.80, Polymarket crypto $0.63 and Kalshi $0.63. Neither model is cheaper everywhere.

Where the others are ahead

Scale. Combined monthly volume on Kalshi and Polymarket passed $50 billion in July 2026. 369X has no mainnet volume yet. Data.
Regulation. Kalshi is a CFTC-regulated exchange, and Polymarket operates a separate CFTC-regulated US venue. 369X has no such licence.
Liquidity and track record. Deep order books on major events, years of resolved markets and established brands.

How this comparison was made

Competitor cells come from each venue’s own help centre or documentation, read on the check date. News reporting is used only where noted.
Where the sources checked say nothing, the cell says “not documented in the sources checked”, not “no”.
Polymarket’s international platform and its separate US venue are different products; the table describes the international platform unless stated.
PredictIt is not in the table because its current terms couldn’t be confirmed from a primary source on the check date.
Fees change often. Check the linked pages before relying on a number.

One-to-one comparisons

369X vs PolymarketPricing, market creation, creator fees, leverage and fees. 369X vs KalshiCustody, identity checks, liquidity and fees.

Sources

Polymarket: Trading fees (documentation) (opens in a new tab)Used for: Taker-fee formula, category rates, zero maker fees, $1.75 on 100 crypto shares at 50¢.
Polymarket: Maker Rebates Program (Help Center) (opens in a new tab)Page dated 21 July 2026. Used for: Rebates funded from taker fees, 20–25% by category.
Polymarket: How are markets created? (Help Center) (opens in a new tab)Page dated 19 April 2026. Used for: Markets created by the markets team; users can suggest ideas; no suggester compensation described.
Polymarket: Geographic restrictions (Help Center) (opens in a new tab)Page dated 14 August 2026. Used for: 39 fully restricted countries including the United States; four close-only jurisdictions.
Polymarket: Perps overview (documentation) (opens in a new tab)Used for: Perpetuals track an index, commodity, crypto asset or equity, not a prediction outcome.
Bitcoin Magazine: Polymarket rolls out US app (opens in a new tab)Used for: Existence of a separate, CFTC-regulated Polymarket US venue with KYC.
Kalshi: Fee schedule (effective 7 July 2026) (opens in a new tab)Page dated 7 July 2026. Used for: General taker fee: round up 0.07 × C × P × (1 − P). The PDF could not be loaded at check time; the formula was confirmed via the Kalshi Help Center fee article and secondary reporting..
Kalshi: Fees (Help Center) (opens in a new tab)Used for: Taker and maker fees; maker fees lower than taker fees; no settlement fee.
Kalshi: Can I trade on Kalshi from outside the United States? (Help Center) (opens in a new tab)Page dated 20 March 2026. Used for: International trading in many countries; identity verification at signup; country restrictions.
Kalshi: Suggesting a new market (Help Center) (opens in a new tab)Used for: Users submit ideas to an ideas feed; the markets team reviews; no suggester compensation described.