American odds
- Kalshi price
- 40c
- Implied chance
- 40%
- American odds
- +150
- Decimal odds
- 2.50
- Fractional odds
- 3/2
- Profit if it wins, before the fee
- 60c
- Break-even after the taker fee
- 41.68%
- American odds after the fee
- +140
- Decimal odds after the fee
- 2.40
How to convert Kalshi prices to odds
A Kalshi contract pays $1 if it wins and nothing if it loses. The price in cents reads as the market's implied chance in percent, so a 40c contract implies 40%. Each odds format restates that chance as a payout.
- Decimal odds are 100 divided by the price. 40c is 2.50, the total return on each $1 staked.
- Below 50c, American odds are +100 × (100 - price) / price. 40c is +150.
- Above 50c, American odds are -100 × price / (100 - price). 60c is -150.
- Fractional odds are (100 - price) / price, reduced. 40c is 60/40, or 3/2.
Odds after the taker fee
The taker fee raises what a contract costs. At 40c it adds 0.07 × 0.40 × 0.60 = 1.68c, so the buyer pays 41.68c. The break-even chance becomes 41.68%, and the odds fall from +150 to +140. The converter shows both. The fee uses Kalshi's standard taker rate before rounding.
Worked example
A contract trades at 25c and a sportsbook offers +280 on the same outcome. 25c converts to +300 before the fee. The taker fee at 25c is 1.3125c, so the contract costs 26.3125c. That converts to +280. After the fee the two prices pay about the same.
Kalshi quotes YES and NO. A YES bid at a price is the same order as a NO ask at 100 minus that price. So the best YES ask plus the best NO ask equals $1 plus the spread. The converter treats the number you enter as the price you pay. For a buy, that is the ask.
Kalshi cents to American odds chart
| Price | American | Decimal | Fractional |
|---|---|---|---|
| 1c | +9,900 | 100.00 | 99/1 |
| 5c | +1,900 | 20.00 | 19/1 |
| 10c | +900 | 10.00 | 9/1 |
| 15c | +567 | 6.67 | 17/3 |
| 20c | +400 | 5.00 | 4/1 |
| 25c | +300 | 4.00 | 3/1 |
| 30c | +233 | 3.33 | 7/3 |
| 35c | +186 | 2.86 | 13/7 |
| 40c | +150 | 2.50 | 3/2 |
| 45c | +122 | 2.22 | 11/9 |
| 50c | +100 | 2.00 | 1/1 |
| 55c | -122 | 1.82 | 9/11 |
| 60c | -150 | 1.67 | 2/3 |
| 65c | -186 | 1.54 | 7/13 |
| 70c | -233 | 1.43 | 3/7 |
| 75c | -300 | 1.33 | 1/3 |
| 80c | -400 | 1.25 | 1/4 |
| 85c | -567 | 1.18 | 3/17 |
| 90c | -900 | 1.11 | 1/9 |
| 95c | -1,900 | 1.05 | 1/19 |
| 99c | -9,900 | 1.01 | 1/99 |
Kalshi odds explained covers mid prices, last trades and how the book sets a quote. The Kalshi fee calculator prices the fee on a full order. This is arithmetic, not advice.
Questions traders ask
How do you convert Kalshi cents to American odds?
Below 50c, divide 100 minus the price by the price, multiply by 100 and add a plus sign, so 25c is +300. Above 50c, divide the price by 100 minus the price, multiply by 100 and add a minus sign, so 75c is -300. 50c is even money, +100.
Is the Kalshi price the probability of the event?
The price is the market's implied chance. A 62c contract implies 62%. A taker who buys at 62c pays a 1.65c fee on top. So the true chance has to exceed 63.65% for the trade to make money on average.
Why do the YES and NO prices add up to more than $1?
A YES bid at a price is the same order as a NO ask at 100 minus that price. So the YES ask plus the NO ask equals 100c plus the spread. A 55c YES ask with a 53c YES bid makes the NO ask 47c, a total of 102c.
What are decimal odds on Kalshi?
Decimal odds are 100 divided by the price in cents. A 40c contract is 2.50 and a 20c contract is 5.00. The figure includes the stake, so 2.50 means each $1 returns $2.50 in total if it wins.
Sources
- Kalshi, Prices and Trades (accessed Oct 19, 2026)
- Kalshi API documentation, Orderbook Responses (accessed Oct 19, 2026)
- Kalshi, Fee Schedule for July 2026, 7.7.26 update (accessed Oct 19, 2026)