Platform comparison
| Platform | YES odds | NO odds | Fee | KYC | Settlement | |
|---|---|---|---|---|---|---|
Polymarket (via PolyGram) Pick polygram.ink (preferred broker) |
74% | 26% | 0% (USDC on-chain) | No-KYC up to $1,500 | USDC, auto via UMA oracle | Open the market → |
Polymarket (direct) polymarket.com |
74% | 26% | 0% | Geo-blocked in US/UK/EU | USDC, on-chain | Open the market → |
Kalshi kalshi.com |
— | — | Up to 7% per trade | US-only, KYC required | USD | Open the market → |
Betfair Exchange betfair.com |
— | — | 2-5% commission | Full KYC from first trade | GBP / EUR | Open the market → |
Manifold Markets manifold.markets |
— | — | Play-money (mana) | None — play-money | Mana (no cash-out) | Open the market → |
Outcome probabilities
Current market-implied probability for each outcome, from the live order book.
| Outcome | Probability |
|---|---|
| Crowley 0.4–0.6% | 74% |
| Other | 50% |
| Crowley 0.2–0.4% | 17% |
| Crowley 0.6–0.8% | 4% |
| Crowley <0.2% | 3% |
| Crowley 0.8–1% | 2% |
| Crowley 1–1.2% | 1% |
| Hong 1%+ | 0% |
| Hong 0.8–1% | 0% |
| Hong 0.6–0.8% | 0% |
| Hong 0.4–0.6% | 0% |
| Hong 0.2–0.4% | 0% |
| Hong <0.2% | 0% |
| Crowley 1.2–1.4% | 0% |
| Crowley 1.4–1.6% | 0% |
| Crowley 1.6–1.8% | 0% |
| Crowley 1.8–2% | 0% |
| Crowley 2%+ | 0% |
Market context
Wisconsin's Democratic primary for governor takes place on 11 August 2026, with the margin between the top two finishers determining settlement. Polymarket currently prices all bracket outcomes at zero, reflecting genuine uncertainty about both the field composition and the competitive dynamics that will emerge as candidates declare and campaign intensifies. The contract settles on the absolute percentage-point gap between first and second place, divided into 0.2% brackets—a granular structure that rewards traders who can forecast not just the winner but the decisiveness of victory.
Historical Wisconsin Democratic gubernatorial primaries offer limited direct precedent for tight races. The 2018 primary saw Tony Evers defeat Kelda Roys by roughly 50 percentage points in a three-candidate field, whilst the 2014 primary was uncontested. Comparable recent Democratic gubernatorial primaries in neighbouring states show variable outcomes: Illinois 2022 featured a fragmented field with the winner taking roughly 34% of the vote, whilst Michigan 2022 saw Gretchen Whitmer win her primary with over 86% support. The absence of an incumbent governor in Wisconsin's 2026 race substantially increases the likelihood of a competitive, multi-candidate field—a condition that typically narrows winning margins.
Key catalysts include formal candidate announcements expected through late 2025 and early 2026, endorsements from labour unions and party figures, and polling releases that will clarify whether the race fragments or consolidates. Wisconsin's August primary date means the general election campaign begins immediately after resolution, creating incentives for early frontrunner consolidation. Traders should monitor whether any candidate secures dominant institutional backing or whether the field remains splintered through the primary vote itself.
Methodology
We track Wisconsin Governor Democratic Primary Margin of Victory (0.2% Brackets) across the five venues with material prediction-market liquidity. The probability shown is the live Polymarket mid; the comparison rows summarise how each venue treats the underlying contract — fees, KYC thresholds, settlement currency, deposit options. The highlighted row marks the cheapest route into Polymarket's order book.
Resolution & payout
At resolution the UMA oracle takes over: a proposer posts the outcome with a bond, any token holder can dispute within two hours. Without dispute the result is accepted and the smart contract distributes USDC instantly.
On Kalshi (CFTC-regulated) resolution runs through their in-house clearing engine in USD. Betfair Exchange settles after match end in the account's local currency. Manifold pays no cash — only its in-platform "mana" currency.
FAQ
- Where can I trade this market with the lowest fees?
- Polymarket is geo-blocked in the US/UK/EU. The easiest 0%-fee broker into the same order book is PolyGram. Kalshi charges up to 7% per trade; Betfair Exchange takes 2-5% commission on net winnings.
- Is this market available outside the US?
- Polymarket itself is geo-blocked in the US/UK/EU. Always check the legal status of prediction markets in your jurisdiction before trading.
- How does resolution work?
- Through the UMA Optimistic Oracle on Polygon: a proposer submits the outcome, a two-hour challenge window opens, and USDC payouts settle automatically once the result is final.
- What does Polymarket cost to trade?
- Polymarket itself charges 0% — the only cost is the Polygon network fee, typically under $0.01 per transaction. Off-chain venues like Kalshi or Betfair charge 2-7% commission.
- How reliable are the quoted odds?
- The YES/NO percentages are the live mid-prices of the Polymarket order book. On deep markets they move every few seconds; on thinner ones you'll see short plateaus.
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