On platforms like Polymarket and Kalshi, contracts trade between 1¢ and 99¢. The price represents the market's implied probability of an event happening. If a contract is trading at 46¢, the market thinks there's roughly a 46% chance the event occurs. If you buy YES at 46¢ and the event happens, you receive $1.00 per share — a profit of 54¢ per share.
Converting Market Price to Traditional Odds
If you're used to sportsbook odds, prediction market cents can feel unfamiliar. The conversion is straightforward: decimal odds equal 100 divided by the price in cents. So 46¢ becomes 100 / 46 = 2.17 in decimal odds, which is +117 in American. A 25¢ contract is the same as +300 American or 3/1 fractional.
Why This Matters
Many bettors use both prediction markets and traditional sportsbooks. Comparing prices across both requires converting between formats. If Polymarket has a candidate at 46¢ (implied 46%) but a sportsbook has the same candidate at -120 (implied 54.5%), that's a meaningful discrepancy worth investigating. Our arbitrage calculator can help you size those cross-market trades.
Polymarket vs Kalshi
Both platforms use cents-based pricing, but there are differences. Polymarket runs on the Polygon blockchain with USDC, while Kalshi is a CFTC-regulated exchange using US dollars. Both show prices in cents. This converter works for either platform. For a deeper comparison, read our guide to reading prediction market prices.
More Free Betting Tools
Convert, calculate, and find edges — no signup required.