Kalshi Odds Converter — Cents to American Odds
Updated September 17, 2026
Convert Kalshi prices to implied probability, decimal odds, and American odds. Understand what any Kalshi price really means before you trade.
Quick Answer
this converter turns a Kalshi price into its implied probability, decimal odds, and American odds in one step. Kalshi prices are already probabilities in cents — a 65¢ contract is a 65% implied probability, or 1.54 in decimal odds — so it just restates the same number in whichever format you need.
MUST-KNOW FIRST
Kalshi prices in plain English · Free
What is this?
On Kalshi, every market trades in cents. A market priced at 37¢ means the crowd thinks there's a 37% chance the event happens. That's it. This tool converts back and forth so you don't have to do the math.
Think of it like reading a weather forecast. "30% chance of rain" = 30¢ on the rain market. If you think rain is actually 60% likely, that 30¢ market is underpriced — that's your edge.
Real-World Example
→ The Market Says
Kalshi has "Fed cuts rates in June" trading at 42¢. You plug that into the Probability Converter. It tells you the market implies a 42% probability.
You watch the Fed press conference and hear the Fed chair hint strongly at cuts. You think it's actually 65%. The gap between 42% and 65% is your edge window.
✅Action: Buy YES at 42¢. You think it's worth 65¢. That's 23 cents of potential profit per contract.
Bottom line: Learn this one first. Every other tool builds on it.
Full guide →0–100, where 65¢ = 65%
European format (1.00 = no payout)
Negative = favorite, positive = underdog
Implied Probability
65.0%
Market's implied chance
Fair Value Est.
65.0%
After estimated vig removal
Est. Vig / Juice
~2.5%
Platform's edge estimate
Kalshi Cents to American Odds: Full Conversion Table
Every Kalshi price from 1¢ to 99¢ with its implied probability, decimal odds, and American odds equivalent. A Kalshi price in cents is its implied probability — 65¢ is a 65% chance — so the only real work is restating that number in decimal or American format. Find your price in the left column.
| Kalshi Price | Implied Probability | Decimal Odds | American Odds | Taker feeper contract, before fill rounding | Break-even after fee |
|---|---|---|---|---|---|
| 1¢ | 1% | 100.00 | +9900 | 0.07¢ | 1.1% |
| 2¢ | 2% | 50.00 | +4900 | 0.14¢ | 2.1% |
| 3¢ | 3% | 33.33 | +3233 | 0.20¢ | 3.2% |
| 4¢ | 4% | 25.00 | +2400 | 0.27¢ | 4.3% |
| 5¢ | 5% | 20.00 | +1900 | 0.33¢ | 5.3% |
| 6¢ | 6% | 16.67 | +1567 | 0.39¢ | 6.4% |
| 7¢ | 7% | 14.29 | +1329 | 0.46¢ | 7.5% |
| 8¢ | 8% | 12.50 | +1150 | 0.52¢ | 8.5% |
| 9¢ | 9% | 11.11 | +1011 | 0.57¢ | 9.6% |
| 10¢ | 10% | 10.00 | +900 | 0.63¢ | 10.6% |
| 11¢ | 11% | 9.09 | +809 | 0.69¢ | 11.7% |
| 12¢ | 12% | 8.33 | +733 | 0.74¢ | 12.7% |
| 13¢ | 13% | 7.69 | +669 | 0.79¢ | 13.8% |
| 14¢ | 14% | 7.14 | +614 | 0.84¢ | 14.8% |
| 15¢ | 15% | 6.67 | +567 | 0.89¢ | 15.9% |
| 16¢ | 16% | 6.25 | +525 | 0.94¢ | 16.9% |
| 17¢ | 17% | 5.88 | +488 | 0.99¢ | 18.0% |
| 18¢ | 18% | 5.56 | +456 | 1.03¢ | 19.0% |
| 19¢ | 19% | 5.26 | +426 | 1.08¢ | 20.1% |
| 20¢ | 20% | 5.00 | +400 | 1.12¢ | 21.1% |
| 21¢ | 21% | 4.76 | +376 | 1.16¢ | 22.2% |
| 22¢ | 22% | 4.55 | +355 | 1.20¢ | 23.2% |
| 23¢ | 23% | 4.35 | +335 | 1.24¢ | 24.2% |
| 24¢ | 24% | 4.17 | +317 | 1.28¢ | 25.3% |
| 25¢ | 25% | 4.00 | +300 | 1.31¢ | 26.3% |
| 26¢ | 26% | 3.85 | +285 | 1.35¢ | 27.3% |
| 27¢ | 27% | 3.70 | +270 | 1.38¢ | 28.4% |
| 28¢ | 28% | 3.57 | +257 | 1.41¢ | 29.4% |
| 29¢ | 29% | 3.45 | +245 | 1.44¢ | 30.4% |
| 30¢ | 30% | 3.33 | +233 | 1.47¢ | 31.5% |
| 31¢ | 31% | 3.23 | +223 | 1.50¢ | 32.5% |
| 32¢ | 32% | 3.13 | +212 | 1.52¢ | 33.5% |
| 33¢ | 33% | 3.03 | +203 | 1.55¢ | 34.5% |
| 34¢ | 34% | 2.94 | +194 | 1.57¢ | 35.6% |
| 35¢ | 35% | 2.86 | +186 | 1.59¢ | 36.6% |
| 36¢ | 36% | 2.78 | +178 | 1.61¢ | 37.6% |
| 37¢ | 37% | 2.70 | +170 | 1.63¢ | 38.6% |
| 38¢ | 38% | 2.63 | +163 | 1.65¢ | 39.6% |
| 39¢ | 39% | 2.56 | +156 | 1.67¢ | 40.7% |
| 40¢ | 40% | 2.50 | +150 | 1.68¢ | 41.7% |
| 41¢ | 41% | 2.44 | +144 | 1.69¢ | 42.7% |
| 42¢ | 42% | 2.38 | +138 | 1.71¢ | 43.7% |
| 43¢ | 43% | 2.33 | +133 | 1.72¢ | 44.7% |
| 44¢ | 44% | 2.27 | +127 | 1.72¢ | 45.7% |
| 45¢ | 45% | 2.22 | +122 | 1.73¢ | 46.7% |
| 46¢ | 46% | 2.17 | +117 | 1.74¢ | 47.7% |
| 47¢ | 47% | 2.13 | +113 | 1.74¢ | 48.7% |
| 48¢ | 48% | 2.08 | +108 | 1.75¢ | 49.7% |
| 49¢ | 49% | 2.04 | +104 | 1.75¢ | 50.7% |
| 50¢ | 50% | 2.00 | +100 / −100 | 1.75¢ | 51.8% |
| 51¢ | 51% | 1.96 | −104 | 1.75¢ | 52.7% |
| 52¢ | 52% | 1.92 | −108 | 1.75¢ | 53.7% |
| 53¢ | 53% | 1.89 | −113 | 1.74¢ | 54.7% |
| 54¢ | 54% | 1.85 | −117 | 1.74¢ | 55.7% |
| 55¢ | 55% | 1.82 | −122 | 1.73¢ | 56.7% |
| 56¢ | 56% | 1.79 | −127 | 1.72¢ | 57.7% |
| 57¢ | 57% | 1.75 | −133 | 1.72¢ | 58.7% |
| 58¢ | 58% | 1.72 | −138 | 1.71¢ | 59.7% |
| 59¢ | 59% | 1.69 | −144 | 1.69¢ | 60.7% |
| 60¢ | 60% | 1.67 | −150 | 1.68¢ | 61.7% |
| 61¢ | 61% | 1.64 | −156 | 1.67¢ | 62.7% |
| 62¢ | 62% | 1.61 | −163 | 1.65¢ | 63.6% |
| 63¢ | 63% | 1.59 | −170 | 1.63¢ | 64.6% |
| 64¢ | 64% | 1.56 | −178 | 1.61¢ | 65.6% |
| 65¢ | 65% | 1.54 | −186 | 1.59¢ | 66.6% |
| 66¢ | 66% | 1.52 | −194 | 1.57¢ | 67.6% |
| 67¢ | 67% | 1.49 | −203 | 1.55¢ | 68.5% |
| 68¢ | 68% | 1.47 | −213 | 1.52¢ | 69.5% |
| 69¢ | 69% | 1.45 | −223 | 1.50¢ | 70.5% |
| 70¢ | 70% | 1.43 | −233 | 1.47¢ | 71.5% |
| 71¢ | 71% | 1.41 | −245 | 1.44¢ | 72.4% |
| 72¢ | 72% | 1.39 | −257 | 1.41¢ | 73.4% |
| 73¢ | 73% | 1.37 | −270 | 1.38¢ | 74.4% |
| 74¢ | 74% | 1.35 | −285 | 1.35¢ | 75.3% |
| 75¢ | 75% | 1.33 | −300 | 1.31¢ | 76.3% |
| 76¢ | 76% | 1.32 | −317 | 1.28¢ | 77.3% |
| 77¢ | 77% | 1.30 | −335 | 1.24¢ | 78.2% |
| 78¢ | 78% | 1.28 | −355 | 1.20¢ | 79.2% |
| 79¢ | 79% | 1.27 | −376 | 1.16¢ | 80.2% |
| 80¢ | 80% | 1.25 | −400 | 1.12¢ | 81.1% |
| 81¢ | 81% | 1.23 | −426 | 1.08¢ | 82.1% |
| 82¢ | 82% | 1.22 | −456 | 1.03¢ | 83.0% |
| 83¢ | 83% | 1.20 | −488 | 0.99¢ | 84.0% |
| 84¢ | 84% | 1.19 | −525 | 0.94¢ | 84.9% |
| 85¢ | 85% | 1.18 | −567 | 0.89¢ | 85.9% |
| 86¢ | 86% | 1.16 | −614 | 0.84¢ | 86.8% |
| 87¢ | 87% | 1.15 | −669 | 0.79¢ | 87.8% |
| 88¢ | 88% | 1.14 | −733 | 0.74¢ | 88.7% |
| 89¢ | 89% | 1.12 | −809 | 0.69¢ | 89.7% |
| 90¢ | 90% | 1.11 | −900 | 0.63¢ | 90.6% |
| 91¢ | 91% | 1.10 | −1011 | 0.57¢ | 91.6% |
| 92¢ | 92% | 1.09 | −1150 | 0.52¢ | 92.5% |
| 93¢ | 93% | 1.08 | −1329 | 0.46¢ | 93.5% |
| 94¢ | 94% | 1.06 | −1567 | 0.39¢ | 94.4% |
| 95¢ | 95% | 1.05 | −1900 | 0.33¢ | 95.3% |
| 96¢ | 96% | 1.04 | −2400 | 0.27¢ | 96.3% |
| 97¢ | 97% | 1.03 | −3233 | 0.20¢ | 97.2% |
| 98¢ | 98% | 1.02 | −4900 | 0.14¢ | 98.1% |
| 99¢ | 99% | 1.01 | −9900 | 0.07¢ | 99.1% |
Fee columns: Taker fee 7% × price × (1 − price) per contract, max 1.75¢, charged at the fill, win or lose; Kalshi rounds each fill up to the next cent. Kalshi fee schedule. Break-even is the win rate a taker needs for the trade to pay back price plus fee.
These are raw conversions with no vig removed. When YES and NO prices sum above $1.00, the true implied probability of YES is YES ÷ (YES + NO) — at 52¢ YES and 51¢ NO, that is 52 ÷ 103, or about 50.5%, not 52%.
How do you read a Kalshi price as a probability?
Kalshi uses a simple cent-based pricing system that directly encodes probability. A contract trading at 65¢ means the market collectively believes there is a 65% implied probability of that event occurring. If it does, the contract settles at $1.00, returning 35¢ profit. If it does not, the contract expires worthless and you lose your 65¢ stake. This linear pricing model makes Kalshi far easier to reason about than traditional sportsbooks, where the relationship between price and probability is obscured by vig-heavy American or decimal formats.
The connection to decimal odds and American odds becomes relevant when comparing Kalshi to traditional sports betting markets or international prediction platforms. A 65¢ Kalshi price is equivalent to decimal odds of 1.538 — meaning you multiply your stake by 1.538 to get the total return. In American odds format, this is roughly -186, indicating a fairly heavy favorite. Cross-referencing across formats lets you spot pricing discrepancies between Kalshi and sports books — a core edge for sharp traders.
Understanding vig and fair value is the difference between recreational and professional prediction market trading. Every market embeds a small platform fee into the bid/ask spread. When you buy a YES contract for 65¢ and the true fair probability is 67%, Kalshi captures that 2¢ difference as revenue. This tool estimates the vig baked into any Kalshi price so you can compare the market price to what a fair, devigged probability would look like — helping you identify whether you're getting value or overpaying for implied probability.
Add up every implied probability on a multi-outcome board — a first-touchdown list, say — and the total lands well past 100%. That overage is the house's hold, and it is why the price you pay matters as much as the side you pick. Why the implied probabilities don't add to 100 — and how to stop paying the ask walks through it with a live card.
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Kalshi probability converter — frequently asked
How do I change Kalshi to American odds?
Kalshi quotes every contract in cents. To read a price as American odds: P¢ is a P% implied probability. Above 50¢, American odds = −(P ÷ (100 − P)) × 100; below 50¢, +((100 − P) ÷ P) × 100. 63¢ = −170. Every price from 1¢ to 99¢ is in the table below.
How do I convert a Kalshi price to a probability?
Kalshi prices are already implied probabilities expressed in cents. A contract trading at 65¢ represents a 65% implied probability. To convert to decimal odds, divide 1 by the probability (1 / 0.65 = 1.538). To convert to American odds for a favorite, use -(probability / (1 - probability)) × 100.
How do I read Kalshi prices compared to American sportsbook odds?
A Kalshi price of 65¢ is equivalent to approximately -186 in American odds. A Kalshi price of 40¢ is equivalent to +150. The converter handles this automatically — enter the Kalshi price in cents and get the American odds, decimal odds, and devigged fair probability instantly.
When should I use the Probability Converter before trading on Kalshi?
Use it whenever you want to compare a Kalshi market to a traditional sportsbook price, or when you want to understand the true fair probability after removing the platform vig. It is especially useful for sports prediction markets where you have a reference price from DraftKings or FanDuel to compare against.
What does 60 cents mean on a Kalshi market?
A Kalshi contract trading at 60 cents means the market is collectively pricing a 60% probability that the YES outcome resolves true. Buying the contract for 60 cents pays $1.00 if YES resolves — a 40-cent profit per contract, or about 67% return on the position. If NO resolves, the buyer loses the full 60 cents. Cents and probability are interchangeable on Kalshi by design.
How do I calculate implied probability from a prediction market price?
On Kalshi-style exchanges, implied probability equals the price itself: a 42-cent contract implies 42% probability. The only adjustment to make is for vig — when YES and NO prices sum above $1.00, true implied probability of YES is YES_price / (YES_price + NO_price). At 52¢ YES and 51¢ NO, true implied probability of YES is 52 / 103, which is roughly 50.5%, not 52%.
Are prediction market prices more accurate than polls or analyst forecasts?
Prediction markets beat polls on average across roughly 60% of recent forecast competitions, but the accuracy edge varies sharply by market type. Real-money markets with deep liquidity — Fed rate decisions, elections, major economic releases — calibrate well. Thin markets on niche events are noisy and often dominated by a few participants. Treat implied probability as a strong prior, not gospel.
Save your conversions: the printable 1–99¢ table plus the devig cheat sheet — free.
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