Alpaca vs Kalshi
Which Finance AI tool is better in 2026?
Alpaca
Commission-free brokerage API for building AI-powered trading agents and fintech apps.
Kalshi
The first US-regulated prediction market exchange
Side-by-side
Kalshi is the more established option (raised $2.5B), but Alpaca is cheaper to start.
| Metric | Alpaca | Kalshi |
|---|---|---|
| Taglinei | Commission-free brokerage API for building AI-powered trading agents and fintech apps. | The first US-regulated prediction market exchange |
| Foundedi | 2015🏆 | 2018 |
| HQi | San Mateo, US | New York, US |
| Employeesi | — | 201-500🏆 |
| Neuron scorei | 44 | 65🏆 |
| Total fundingi | $352M | $2.5B🏆 |
| Latest roundi | Series D · Jan 2026 | Series F · May 2026 |
| Valuationi | $1.1B | $22B🏆 |
| Cheapest paid plani | From $99/mo🏆 | Pricing not disclosed |
| Free plani | ✓ | ✓ |
| Free triali | ✗ | ✓ |
| Top tier pricei | Pricing not disclosed | Pricing not disclosed |
| Pricing summaryi | Free · From $99/mo | Free |
| Categoriesi |
Capability matrix
Developer-facing capabilities and access signals for Alpaca and Kalshi.
| Capability | Alpaca | Kalshi |
|---|---|---|
| MCP support | ✓ | ✗ |
| Public API | ✓ | ✓ |
| Webhooks | ✗ | ✗ |
| OAuth 2.0 | ✓ | ✗ |
| SDK languages | 4 (python, typescript, go, csharp) | — |
| Free plan | ✓ | ✓ |
| Free trial | ✗ | ✓ |
| Verified | ✗ | ✗ |
| Active deal | ✓ | ✗ |
🟢 Strengths of Alpaca
- Lower starting price ($99/mo)
- More mature (2015)
🔵 Strengths of Kalshi
- Has raised more capital ($2.5B vs $352M)
- Higher Neuron score (65 vs 44)
- Offers a free trial
- Newer company (2018)
Which should you choose?
Choose Alpaca if price matters most — it starts at Free · From $99/mo, which is friendlier for teams watching burn. Both AI Finance tools ship core features, so the cost delta often decides it for small teams and solo operators.
Choose Kalshi if you want the most established option — it has raised $2.5B, suggesting more runway for enterprise features, support, and long-term roadmap. For mission-critical workflows or larger teams, that stability often outweighs a lower monthly price.
💸 Deals
Alpaca Paper Trading — free forever
Alpaca's paper trading API is free forever — build and backtest algorithmic strategies with real market data before going live.
Frequently asked questions
Alpaca vs Kalshi — which is better?
It depends on your priority. Alpaca is the leaner option; Kalshi has broader feature depth. See the side-by-side table above.
Is Alpaca cheaper than Kalshi?
Yes — Alpaca's cheapest paid plan is Free · From $99/mo, while Kalshi's is Free.
Do Alpaca and Kalshi offer free plans?
Alpaca: Yes, has a free plan. Kalshi: Yes, has a free plan.
Explore more AI Finance tools
Contextual paths to related AI startups, deals and rankings.