Comparing Kalshi, Crypto.com, and Polymarket: College Football Championship Markets, Odds, and User Experience (2025-26)
Introduction: The Rise of Sports Trading and College Football Betting
The 2025-26 college football season has ushered in a new era for fans and traders alike, with the expansion of the College Football Playoff and the explosive growth of regulated sports trading platforms. As the playoff field and championship odds shift in real time, prediction markets like Kalshi, Crypto.com, and Polymarket have become essential destinations for those seeking to profit from their insights or simply to engage more deeply with the sport. These platforms offer a unique blend of sports trading, college football betting, and prediction market dynamics, allowing users to buy and sell contracts tied to the outcome of the national championship and related playoff events.
The 2025-26 College Football Playoff Landscape: Teams, Bracket, and Betting Context
The 2025-26 College Football Playoff features a 12-team field, with powerhouse programs like Ohio State, Indiana, Georgia, Oregon, and Texas Tech leading the odds boards. The final bracket, revealed in early December, set the stage for a month of high-stakes matchups and a flurry of betting activity across both traditional sportsbooks and modern prediction markets.
Key playoff teams and their seeding include:
- Ohio State (No. 2 seed, Big Ten runner-up but still the favorite)
- Indiana (No. 1 seed, Big Ten champion)
- Georgia (SEC champion)
- Oregon (Pac-12 champion)
- Texas Tech (Big 12 champion)
- Texas A&M, Alabama, Miami, Ole Miss, Oklahoma, Tulane, James Madison (other playoff qualifiers)
The betting landscape is dynamic, with odds and contract prices shifting in response to news, injuries, and market sentiment. Understanding how these prices translate into implied probabilities—and how they differ across platforms—is crucial for identifying value in the college football championship market.
How Prediction Markets Work: Contract Prices, Implied Probabilities, and Value
Prediction markets like Kalshi, Crypto.com, and Polymarket operate on a simple but powerful principle: users buy and sell contracts that pay out $1 if a specified event occurs (e.g., “Ohio State wins the national championship”) and $0 otherwise. The price of a contract (e.g., $0.37) reflects the market’s consensus probability that the event will occur—in this case, a 37% chance.
Implied probability is calculated as:
Implied Probability (%) = Contract Price ($) × 100
For example, a contract trading at $0.25 implies a 25% chance of that team winning the championship. This market-driven approach allows for real-time price discovery and often sharper odds than traditional sportsbooks, especially in liquid markets.
Current College Football Championship Contract Prices: Kalshi, Crypto.com, and Polymarket
Table 1: College Football Championship Odds and Contract Prices (as of December 11, 2025)
| Team | Kalshi Price ($) | Kalshi Implied % | Crypto.com Price ($) | Crypto.com Implied % | Polymarket Price ($) | Polymarket Implied % |
|---|---|---|---|---|---|---|
| Ohio State | 0.37 | 37% | 0.39 | 39% | 0.32 | 32% |
| Indiana | 0.27 | 27% | 0.28 | 28% | 0.21 | 21% |
| Georgia | 0.16 | 16% | 0.15 | 15% | 0.16 | 16% |
| Oregon | 0.11 | 11% | 0.10 | 10% | 0.11 | 11% |
| Texas Tech | 0.09 | 9% | 0.08 | 8% | 0.08 | 8% |
| Texas A&M | 0.04 | 4% | 0.04 | 4% | 0.04 | 4% |
| Alabama | 0.04 | 4% | 0.03 | 3% | 0.04 | 4% |
| Ole Miss | 0.03 | 3% | 0.03 | 3% | 0.03 | 3% |
| Miami | 0.03 | 3% | 0.03 | 3% | 0.03 | 3% |
| Oklahoma | 0.01 | 1% | 0.01 | 1% | 0.01 | 1% |
| Tulane | 0.001 | 0.1% | 0.001 | 0.1% | 0.001 | 0.1% |
| James Madison | 0.0005 | 0.05% | 0.0005 | 0.05% | 0.0005 | 0.05% |
Note: Prices are approximate and may vary slightly due to market fluctuations and platform-specific liquidity. Data compiled from Kalshi, Crypto.com, and Polymarket as of December 11, 2025.
Analysis of Table 1: Comparing Odds and Implied Probabilities
Ohio State is the clear favorite across all three platforms, with implied probabilities ranging from 32% (Polymarket) to 39% (Crypto.com). Indiana is the consensus second choice, followed by Georgia and Oregon. The differences in contract prices—sometimes several percentage points—reflect variations in platform liquidity, user base, and market sentiment.
Key takeaways:
- Kalshi and Crypto.com prices are closely aligned, likely due to similar U.S.-centric user bases and regulatory frameworks.
- Polymarket often shows slightly lower prices for favorites, which can present value opportunities for buyers.
- Longshots (e.g., Tulane, James Madison) are priced at fractions of a cent, reflecting their near-impossible path to the title.
Implied Probabilities and Market Consensus: What the Odds Say About Each Team
Ohio State: The Market Favorite
Across all platforms, Ohio State is priced as the most likely champion, with implied probabilities between 32% and 39%. This aligns with traditional sportsbook odds, where the Buckeyes are listed at +225 to +240 (implied probability ~29-31%). The slight premium on prediction markets may reflect sharper information and higher liquidity.
Indiana: The Challenger
Indiana‘s odds have shortened after their Big Ten title win, now trading at 21-28% implied probability. Market sentiment suggests Indiana is seen as the most balanced team, with strong support among traders and analysts.
Georgia, Oregon, Texas Tech: The Next Tier
Georgia and Oregon round out the top four, with implied probabilities in the 10-16% range. Texas Tech is a consensus dark horse, priced at 8-9%. These teams have paths to the title but face tougher brackets and potential matchup disadvantages.
Value in the Middle and Longshots
Teams like Texas A&M, Alabama, Ole Miss, and Miami are priced at 3-4%, reflecting their underdog status but also the volatility of the playoff format. Oklahoma, Tulane, and James Madison are true longshots, with contract prices reflecting less than a 1% chance.
Identifying the Best Value Contracts Across Platforms
Table 2: Value Comparison—Where to Find the Best Odds
| Team | Highest Price (Best for Sellers) | Lowest Price (Best for Buyers) | Platform with Best Buy Value |
|---|---|---|---|
| Ohio State | $0.39 (Crypto.com) | $0.32 (Polymarket) | Polymarket |
| Indiana | $0.28 (Crypto.com) | $0.21 (Polymarket) | Polymarket |
| Georgia | $0.16 (Kalshi/Polymarket) | $0.15 (Crypto.com) | Crypto.com |
| Oregon | $0.11 (Kalshi/Polymarket) | $0.10 (Crypto.com) | Crypto.com |
| Texas Tech | $0.09 (Kalshi) | $0.08 (Crypto.com/Polymarket) | Crypto.com/Polymarket |
| Texas A&M | $0.04 (all) | $0.04 (all) | Tie |
| Alabama | $0.04 (Kalshi/Polymarket) | $0.03 (Crypto.com) | Crypto.com |
| Ole Miss | $0.03 (all) | $0.03 (all) | Tie |
| Miami | $0.03 (all) | $0.03 (all) | Tie |
| Oklahoma | $0.01 (all) | $0.01 (all) | Tie |
Note: “Best for Buyers” means the lowest price to buy a contract (i.e., the highest potential payout if the team wins).
Value Analysis: Where Should You Place Your Bet?
Polymarket consistently offers the lowest prices (best value) for favorites like Ohio State and Indiana. For example, buying an Ohio State championship contract at $0.32 on Polymarket yields a higher return than paying $0.39 on Crypto.com if the Buckeyes win. This price discrepancy is an opportunity for value-seeking traders and highlights the importance of comparing odds across platforms.
For mid-tier teams like Georgia and Oregon, Crypto.com sometimes offers a slight edge, with prices a cent or two lower than Kalshi or Polymarket. For longshots, prices are nearly identical across all platforms, reflecting efficient markets and low expected value.
Key strategy: Always compare contract prices across platforms before placing a trade. Even a few cents difference can significantly impact your expected return, especially on favorites.
Additional College Football Playoff Markets: Props, Conference Winners, and Heisman Odds
Beyond the national championship market, all three platforms offer a variety of college football betting opportunities, including playoff qualifiers, conference championships, and player awards.
Polymarket: Deepest Props and Futures
Polymarket stands out for its breadth of markets, including:
- Conference championship winners (Big Ten, SEC, ACC, Big 12, etc.)
- Playoff qualifiers (e.g., “Will Texas make the playoff?”)
- Heisman Trophy winner (Fernando Mendoza, Julian Sayin, Diego Pavia are current favorites)
- Winning conference of the national champion
- Undefeated 15-0 team?
- Seed-specific playoff outcomes (e.g., “#1 overall seed”)
Polymarket’s liquidity is highest in headline markets, but even niche props can attract substantial volume, offering sharp prices and unique value opportunities.
Kalshi: Regulated Event Contracts and Playoff Markets
Kalshi offers a curated selection of event contracts, including:
- Playoff qualification (e.g., “Will Alabama make the playoff?”)
- Conference championship outcomes
- Heisman Trophy winner
- Game-specific markets (e.g., first-round matchups, point spreads, totals)
Kalshi’s regulated status ensures market integrity and clear resolution criteria, making it a preferred choice for U.S. users seeking compliance and consumer protections.
Crypto.com: Futures, Spreads, and Totals
Crypto.com focuses on major outcomes, including:
- Championship winner
- Playoff game winners
- Spreads and totals for individual games
- Season-long futures (e.g., “Will Oregon make the semifinals?”)
While Crypto.com does not yet offer the same depth of props as Polymarket, its user-friendly interface and nationwide availability make it a strong option for straightforward college football betting and sports trading.
Market Liquidity and Volume: Where Are the Most Active Markets?
Table 3: Platform Liquidity and Volume (2025-26 College Football Markets)
| Platform | Total CFB Volume (2025) | Typical Market Depth | User Base | Notable Features |
|---|---|---|---|---|
| Kalshi | $4.5B+ (all markets) | High (headline) | U.S.-centric | Regulated, fiat/crypto funding |
| Polymarket | $7.5B+ (all markets) | High (headline) | Global, crypto | On-chain, deep props, fast |
| Crypto.com | $1B+ (sports trading) | High (majors) | U.S. nationwide | CFTC-regulated, fiat/crypto |
Sources: Platform disclosures, industry reports, and news coverage.
Liquidity Analysis
Polymarket leads in global volume, with over $7.5 billion traded in 2025 and deep liquidity in college football, especially for championship and playoff markets. Kalshi has surged in U.S. market share, now handling over $4.5 billion in event contracts, with strong depth in sports, politics, and economics. Crypto.com is newer to sports trading but has quickly built substantial liquidity, especially in headline markets.
For traders, high liquidity means tighter spreads, easier entries and exits, and more reliable pricing. All three platforms offer robust liquidity for the college football championship market, but Polymarket and Kalshi have the edge in niche props and futures.
Platform Fees, Funding, and Withdrawal Processes
Table 4: Platform Fees, Funding, and Withdrawal Comparison
| Platform | Trading Fees | Deposit Methods | Withdrawal Methods | Processing Times | Notable Limits/Notes |
|---|---|---|---|---|---|
| Kalshi | Variable (avg. 1.2%/trade) | ACH, wire, debit, crypto (USDC) | ACH, wire, debit, crypto (USDC) | ACH: 1-3 days; Crypto: instant | $2 fee for debit withdrawals; 2% fee for debit deposits |
| Polymarket | 0% trading, 2% on net profits | USDC (Polygon/Ethereum), MoonPay | USDC (Polygon/Ethereum) | Crypto: instant (Polygon) | Network/gas fees apply; no fiat |
| Crypto.com | $0.02-$1.00 per contract | ACH, wire, debit, PayPal, crypto | Bank transfer, crypto | Bank: 1 day; Crypto: instant | $1 min. deposit; $1.99 withdrawal fee |
Fee and Funding Analysis
Kalshi offers a transparent fee schedule, with variable trading fees averaging around 1.2% per contract. ACH and wire deposits are free, while debit card deposits incur a 2% fee. Withdrawals are free via ACH, with a $2 fee for debit withdrawals. Crypto (USDC) deposits and withdrawals are supported via Zero Hash, with variable network fees.
Polymarket charges no trading fees on buys/sells but takes a 2% cut on net profits from winning trades. All transactions are in USDC on the Polygon or Ethereum networks, with users responsible for gas fees. Deposits can be made via crypto wallet or MoonPay (Visa/Mastercard), but there is no fiat on-ramp for U.S. users at this time.
Crypto.com charges a small exchange fee per contract ($0.02 for $1 contracts, $0.10 for $10 contracts, etc.) and a technology fee for larger trades. Deposits are accepted via ACH, wire, debit, PayPal, and crypto, with instant processing for most methods. Withdrawals are typically processed within 24 hours, with a $1.99 fee for bank transfers.
Key tip: For U.S. users seeking fiat funding and withdrawals, Kalshi and Crypto.com offer the smoothest experience. Polymarket is best suited for crypto-native users comfortable with USDC and on-chain transactions.
How to Get Started: Account Setup, Funding, and Placing a Bet
Kalshi: Step-by-Step Guide
- Create an Account
- Visit Kalshi.com and click “Sign Up.”
- Provide your email, set a password, and complete identity verification (KYC) with your government-issued ID.
- U.S. residents in most states are eligible; some states (e.g., NJ, IL, MD) may be restricted due to ongoing litigation.
- Fund Your Account
- Choose from ACH bank transfer (free), wire transfer, debit card (2% fee), or USDC crypto deposit.
- ACH and debit card deposits are typically instant; wire transfers may take 1-3 days.
- For crypto, transfer USDC to your Kalshi wallet via Zero Hash.
- Place a Bet (Trade)
- Browse to the “Sports” section and select “College Football Championship.”
- Choose your team and click “Buy Yes” (if you think they’ll win) or “Buy No” (if you think they won’t).
- Enter the number of contracts and confirm the trade.
- Monitor your position in the dashboard; you can sell early or hold to settlement.
- Withdraw Winnings
- Move funds to your cash balance.
- Withdraw via ACH, wire, debit, or USDC (crypto).
- ACH withdrawals are free and typically process in 1-3 days; crypto withdrawals are near-instant.
Polymarket: Step-by-Step Guide
- Create an Account
- Visit Polymarket.com and connect a Web3 wallet (MetaMask, WalletConnect, etc.).
- Complete any required KYC/geo-verification (U.S. users may be restricted until the regulated U.S. product launches).
- Fund Your Account
- Deposit USDC on the Polygon network via wallet transfer or MoonPay (Visa/Mastercard).
- Ensure you have MATIC for gas fees.
- Follow the on-screen instructions to bridge funds if needed.
- Place a Bet (Trade)
- Browse to the “College Football Champion 2025” market.
- Select your team and click “Buy Yes” or “Buy No.”
- Enter the amount of USDC to invest and confirm the transaction in your wallet.
- Trades are settled on-chain; you can sell early or hold to resolution.
- Withdraw Winnings
- Withdraw USDC to your wallet on Polygon or Ethereum.
- Withdrawals are typically instant, subject to network congestion and gas fees.
Crypto.com: Step-by-Step Guide
- Create an Account
- Download the Crypto.com app or visit crypto.com/us/sports.
- Register with your email and phone number.
- Complete KYC verification with your government-issued ID and a selfie.
- Fund Your Account
- Deposit USD via ACH, wire, debit card, PayPal, or crypto.
- Minimum deposit is $1; most methods are instant.
- You can also deposit over 350 cryptocurrencies and convert to USD in-app.
- Place a Bet (Trade)
- Navigate to the “Sports” or “Predict” section.
- Select “College Football Championship” and choose your team.
- Buy contracts at the displayed price (e.g., $0.39 for Ohio State).
- Enter the number of contracts and confirm the trade.
- You can sell your position at any time before settlement to lock in profits or cut losses.
- Withdraw Winnings
- Withdraw USD via bank transfer (ACH) or crypto to an external wallet.
- Withdrawals typically process within 24 hours; a $1.99 fee applies for bank transfers.
Regulatory and Legal Considerations for U.S. Users
Kalshi: CFTC-Regulated, State-by-State Nuances
Kalshi operates as a Designated Contract Market (DCM) under the Commodity Futures Trading Commission (CFTC), making it federally legal for most U.S. users. However, several states (e.g., Nevada, New Jersey, Maryland, Ohio, Illinois, Montana, Arizona, New York) have issued cease-and-desist orders or are engaged in litigation, creating a patchwork of access. Kalshi is fighting these actions in federal court, with mixed results—some states have granted injunctions, while others have sided with state regulators.
Key point: Always check your state’s current status before trading on Kalshi.
Polymarket: Crypto-Native, U.S. Access Evolving
Polymarket is a decentralized, on-chain platform that historically restricted U.S. users from real-money trading due to a 2022 CFTC settlement. In late 2025, Polymarket acquired a CFTC-registered exchange and is preparing to launch a compliant U.S. product. Until then, U.S. users can view markets but may be restricted from trading with real money.
Key point: U.S. access is expected to expand in 2026, but always verify your eligibility.
Crypto.com: CFTC-Regulated, Nationwide Availability
Crypto.com operates its sports trading product under CFTC regulation, making it available in all 50 states (except where specifically restricted, such as Nevada pending litigation). The platform is fully compliant with federal derivatives law and offers robust KYC/AML protections.
Key point: Crypto.com is the most widely accessible for U.S. users seeking regulated sports trading.
Platform Feature Comparison: UI, Mobile App, Fees, and Legal Status
Table 5: Platform Features at a Glance
| Feature | Kalshi | Polymarket | Crypto.com |
|---|---|---|---|
| Regulation | CFTC DCM (U.S.) | CFTC (global, U.S. soon) | CFTC (U.S.) |
| U.S. Availability | Most states (some restricted) | Global (U.S. soon) | All 50 states (except NV) |
| Funding | ACH, wire, debit, USDC | USDC (Polygon/Ethereum) | ACH, wire, debit, PayPal, crypto |
| Trading Fees | ~1.2% avg. per trade | 0% trading, 2% on profits | $0.02-$1.00 per contract |
| Withdrawal Fees | $2 debit, free ACH | Network/gas only | $1.99 bank transfer |
| Mobile App | iOS, Android | iOS, Android, Web3 wallet | iOS, Android |
| UI/UX | Brokerage-style, charts | Web3, card-style, on-chain | Trading app, clean, robust |
| Market Depth | High (headline) | High (headline, props) | High (majors) |
| Props/Futures | Yes (curated) | Yes (deep, fast) | Yes (majors, fewer props) |
| Early Exit | Yes (sell anytime) | Yes (sell anytime) | Yes (close anytime) |
| Social Features | Ideas, watchlists | On-chain, leaderboards | None |
| Responsible Tools | Deposit limits, self-exclusion | None (global) | KYC, limits |
Feature Analysis
- Kalshi excels in regulatory compliance, fiat access, and a brokerage-style interface. It is ideal for U.S. users who value oversight and consumer protections.
- Polymarket offers unmatched speed, breadth of markets, and on-chain transparency. It is best for crypto-native users and those seeking niche props and fast-moving markets.
- Crypto.com combines sports trading with a robust crypto ecosystem, offering nationwide access, instant funding, and a user-friendly app. It is the most accessible for new users and those seeking a seamless fiat/crypto experience.
Historical Market Movements and News Catalysts
The 2025-26 college football championship market has seen significant price swings driven by:
- Conference championship results (e.g., Indiana’s upset of Ohio State)
- Coaching changes (e.g., Lane Kiffin’s departure from Ole Miss)
- Injuries and player news
- Bracket announcements and seeding
- Market sentiment and trading volume surges
For example, Indiana’s odds shortened dramatically after their Big Ten title win, while Ohio State remained the favorite due to their overall season strength. Georgia and Oregon have seen their prices fluctuate based on matchup projections and injury reports.
Key tip: Monitoring news and market movements is essential for successful sports trading and college football betting. Prediction markets often react faster than traditional sportsbooks, offering value for informed traders.
Conclusion: Choosing the Best Platform for College Football Betting and Sports Trading
The 2025-26 college football championship market is more accessible, transparent, and dynamic than ever before, thanks to the rise of regulated prediction markets and sports trading platforms. Kalshi, Crypto.com, and Polymarket each offer unique advantages:
- Kalshi: Best for U.S. users seeking regulatory oversight, fiat access, and a brokerage-style experience.
- Polymarket: Ideal for crypto-native users and those seeking deep props, fast-moving markets, and global access.
- Crypto.com: Most accessible for new users, with instant funding, nationwide availability, and a seamless fiat/crypto interface.
For value-seeking traders, comparing contract prices across platforms is essential. Polymarket often offers the lowest prices on favorites, while Crypto.com and Kalshi provide robust liquidity and user-friendly experiences. Additional playoff markets, props, and futures offer further opportunities for sharp bettors and sports trading enthusiasts.
Getting started is straightforward on all three platforms, with step-by-step guides provided above. Always consider regulatory and legal nuances in your state or country, and practice responsible trading.
As the college football playoffs unfold, prediction markets will continue to reflect the wisdom of the crowd, offering real-time insights and value for those willing to engage. Whether you’re a seasoned trader or a college football fan looking to add excitement to the postseason, Kalshi, Crypto.com, and Polymarket provide the tools and markets to make your predictions count.