How to Track Deposits, Withdrawals & Profits on Polymarket and Kalshi

Target Keywords: "polymarket deposits", "polymarket withdrawals", "kalshi deposit tracking", "prediction market P&L"

Introduction

If you're trading on Polymarket or Kalshi, your true P&L isn't just about winning and losing trades. It's about tracking every dollar that goes in and out — deposits, withdrawals, fees, and trade outcomes.

Most prediction market traders focus exclusively on their trade results. They remember the time they called the election outcome at 35 cents and collected $1.00 per share. What they forget is the $12 in gas fees to deposit, the $8 in bridge costs, and the three other positions that quietly resolved against them.

This guide walks you through how to manually record deposits, withdrawals, and trade outcomes on both Polymarket and Kalshi, calculate your true P&L, and build a tracking habit that keeps you honest.

Why Tracking Every Transaction Matters

Trade Wins and Losses Are Only Part of the Picture

It's easy to think of your prediction market performance as simply wins minus losses. But that calculation ignores the money flowing in and out of your account.

If you deposited $3,000 over six months and your current balance is $2,800, you're down $200 — regardless of how many individual trades you won. Without tracking deposits and withdrawals, you can't answer the most fundamental question: "Am I up or down overall?"

Hidden Costs Eat Into Profits

Both platforms have costs outside of trade outcomes:

• Polymarket: Gas fees on Polygon, bridge fees between chains, exchange fees when buying or selling USDC
• Kalshi: Wire transfer fees (if applicable), card processing fees on certain deposit methods
• Both: Opportunity cost of capital tied up in unresolved positions

A trader who shows $500 in winning trades but spent $60 in transaction fees has a real profit of $440. That difference matters over months of trading.

Without Complete Records, You Can't Calculate Real ROI

Return on investment requires two numbers: what you put in and what you got out. If you only track trade results without recording deposits and withdrawals, your ROI calculation is fundamentally broken.

How Polymarket Funding Works

Polymarket is built on the Polygon blockchain and uses USDC as its trading currency. Getting money in and out involves extra steps compared to a traditional exchange.

Depositing to Polymarket

The typical deposit flow:

1. Buy USDC on a crypto exchange (Coinbase, Kraken, etc.)
2. Send USDC to Polygon — directly or by bridging from Ethereum
3. Deposit USDC into your Polymarket account

Costs to Track

Each step can involve fees:

• Exchange fees: Spread or commission when buying USDC (typically 0.5%–1.5%)
• Network fees: Gas costs on Polygon (usually under $0.10)
• Bridge fees: Bridging from Ethereum to Polygon can cost $2–$15+
• Onramp fees: Credit card or third-party deposits often charge 2%–5%

Example: The True Cost of a $1,000 Deposit

• Buy $1,000 in USDC on Coinbase: $1,004 (0.4% fee)
• Withdraw USDC to Polygon: $1.50 network fee
• Bridge fee (if applicable): $2.50
• Your Polymarket balance: $1,000
• Your actual cost: $1,008

That $8 adds up across multiple deposits. Record the full cost, not just the balance on Polymarket.

Withdrawing from Polymarket

The withdrawal flow reverses the process: withdraw USDC from Polymarket, bridge back to Ethereum if needed, send to your exchange, sell for USD. Fees apply at each step — gas, bridge, exchange, and bank withdrawal fees. If you withdraw $500 but only $492 lands in your bank account, your net withdrawal is $492. Record what you actually receive.

How Kalshi Funding Works

Kalshi operates entirely in U.S. dollars, making the funding process significantly simpler.

Depositing to Kalshi

• Bank transfer (ACH): Free, takes 1–3 business days
• Wire transfer: Same-day, but your bank may charge $15–$30
• Debit card: Instant, may carry a small processing fee

No crypto wallets, bridges, or stablecoins involved.

Withdrawing from Kalshi

Request a withdrawal and funds are sent to your bank account, typically within 1–5 business days. The date you initiate a withdrawal is not the date you receive funds — record when the money actually arrives.

Simpler, But Still Needs Tracking

The absence of crypto complexity doesn't mean you can skip tracking. You still need a record of every deposit and withdrawal to calculate your true P&L.

Recording Deposits in Your Bankroll Tracker

Every time you add funds to either platform, create a deposit entry. Here's how to do it well.

Log the full amount including fees. If you spent $1,008 to get $1,000 into Polymarket, either record a $1,008 deposit or record $1,000 plus a separate $8 fee entry. Choose one method and stay consistent.

Add descriptive notes. "Initial deposit via Coinbase → Polygon bridge" or "Bank wire to Kalshi — $25 wire fee" gives future-you the context to understand each entry.

Record the actual date. Log when the funds arrived on the platform, not when you decided to deposit.

Keep deposits separate from trade activity. Deposits are not profits. Your bankroll management tools should clearly distinguish between deposits (money in) and trade results (money earned or lost). Mixing them makes your P&L calculations meaningless.

Recording Withdrawals

Track withdrawals with the same discipline as deposits.

Log the net amount you receive. If $500 left Polymarket but only $492 arrived in your bank, record $492. Log the $8 difference as a fee.

Record when funds arrive. A withdrawal initiated on Monday but received on Thursday should be logged as Thursday.

Track partial withdrawals separately. If you withdraw $300 one week and $200 the next, those are two separate entries. Don't combine them.

Calculating Your True P&L

This is where all your tracking work pays off.

The Formula

True P&L = (Current Balance + Total Withdrawals) - Total Deposits

This formula works regardless of how many trades you've made or how many deposits and withdrawals you've recorded.

Don't Forget Unrealized Positions

Open positions that haven't resolved are valued at their current market price, which could change before settlement. For a conservative P&L, only count resolved positions.

A Complete Example

Activity over three months:

• Deposited $1,500 to Polymarket (actual cost: $1,520 after fees)
• Deposited $500 to Kalshi (via ACH, no fees)
• Total deposits: $2,020

Trade results: Won political markets (+$800), lost crypto markets (-$400), Kalshi wins (+$250), Kalshi losses (-$150)

Withdrawals: Received $490 from Polymarket (after fees), $200 from Kalshi. Total: $690

Current balances: Polymarket $1,400 + Kalshi $500 = $1,900

True P&L: ($1,900 + $690) - $2,020 = +$570

If the trader only tracked trade results ($800 + $250 - $400 - $150 = $500), they'd miss the full picture. Fees are real costs — record them. Use a P&L calendar to visualize how these numbers trend day by day.

Common Tracking Mistakes

Forgetting gas fees and bridge costs. The crypto infrastructure introduces costs at every step for Polymarket traders. These small amounts compound over dozens of transactions.

Not recording partial withdrawals. Pull out $100 here and $50 there without logging each one, and your P&L calculation drifts further from reality.

Counting unrealized positions as profit. You bought 500 shares at $0.30 and they're trading at $0.75. That looks like $225 in profit, but the market hasn't resolved. Don't count it until the position closes.

Mixing personal and trading funds. Without clear boundaries, you'll lose track of what was a deposit versus a return of previously withdrawn money.

Not tracking across both platforms together. Being up $300 on Polymarket means nothing if you're down $400 on Kalshi. A multi-platform tracking guide helps you set up a combined system.

Monthly Reconciliation Process

A monthly check-in keeps your records accurate and your habits sharp.

Compare your tracker with actual balances. At the end of each month, your tracked balance and the platform's actual balance should match. Common discrepancies come from unrecorded trades, missed fees, or unlogged deposits and withdrawals.

Investigate discrepancies immediately. Small gaps grow into large ones. If your tracker shows $1,200 but Polymarket shows $1,180, find the missing $20 now.

Record any missing transactions. You'll often discover one or two entries you missed. Add them with accurate dates and notes.

Calculate monthly ROI:

Monthly ROI = (End Balance + Withdrawals This Month) - (Start Balance + Deposits This Month)

Track this monthly. Over six months of data, trends become clear and actionable.

Adjust your habits. If you consistently miss certain transaction types, change your routine — log immediately instead of at end-of-day, or set a phone reminder.

Tax Implications

Prediction market profits may be taxable depending on your jurisdiction, and having clean records makes tax time significantly less painful.

Whether your tax authority treats prediction market profits as gambling income, capital gains, or something else, the foundation is the same: accurate records of all deposits, withdrawals, and trade outcomes. Tax authorities may want to see total deposits and withdrawals per platform, net profit or loss, fees paid, and dates of all transactions.

Our gambling tax calculator can help estimate U.S. tax obligations on prediction market profits. It covers federal and state rates and factors in your filing status.

Tax treatment of prediction market income is evolving. Work with a qualified tax professional who understands your specific circumstances, especially if you're trading significant amounts.

Responsible Trading

Tracking isn't just about returns. It's one of the most effective tools for maintaining a healthy relationship with prediction market trading.

Track to stay informed and accountable. When you see every dollar laid out — deposits, withdrawals, wins, losses, fees — you're working with reality rather than perception. Your records don't lie, don't flatter, and don't forget.

Watch your deposit patterns. If you deposited $200 in January, $400 in February, and $800 in March, the escalation is obvious in your records. Without tracking, you might not notice until it's a problem. If deposits are growing faster than your comfort level, pause.

Regular reviews help you spot unhealthy patterns. Are you trading more after losses? Are deposits increasing while your balance stays flat? These questions are hard to answer without data. Your tracker provides the data. The rest is up to you.

For more context on building disciplined prediction market habits, see our Polymarket guide.

Disclaimer

This article is for educational and informational purposes only. It does not constitute financial advice, trading advice, tax advice, or a recommendation to trade on Polymarket, Kalshi, or any other prediction market. Prediction markets carry significant risk, and you can lose your entire investment. Past performance, tracked or otherwise, does not guarantee future results. Tax treatment of prediction market activity varies by jurisdiction — consult a qualified tax professional for advice specific to your situation. Always do your own research before risking capital. Manage Bankroll is a personal finance tracking tool for manually recording numbers. It does not connect to, integrate with, or access Polymarket, Kalshi, or any external platform.