- 18+ Only. Restrictions and eligibility requirements apply. Not available in all jurisdictions. Trading involves high risk and may result in loss of your entire investment. See polymarket.us/tos for more information. The Polymarket US App serves as an independent software provider and affiliate of Polymarket US and Polymarket Clearing, the CFTC-regulated derivatives exchange and clearing organization.
- Certain limitations apply. The offer is available to new users only, subject to the terms and conditions at kalshi.com/tc/500. 18+ only. Restrictions and eligibility requirements apply. Event contract trading involves significant risk and is not appropriate for everyone. Please carefully consider if it is appropriate for you in light of your personal financial circumstances. Kalshi products are not available in all jurisdictions. See kalshi.com/regulatory for more information.
- No Purchase necessary. ; new users must make a first-time deposit. Milly Bucks have no cash value. Bonus entries are not cash, must be played through 1x within the turnover period (14 days unless otherwise stated), can't be used on prediction picks or entries paying under 2x, and are forfeited if unused. All 20 questions must be completed within 60 days. 18+ (19+ AL, NE; 21+ AZ, MA, VA). Must be physically present in an eligible state. Void where prohibited. Gambling problem? Call 1-800-GAMBLER.
- New users only, 21 and older. One offer per person. Minimum $10 deposit; no qualifying trade and no playthrough requirement. The bonus is issued as five $10 Trade Credits, each used in full on a single trade (one credit per trade). Trade Credits apply to contracts priced between $0.01 and $0.60. Each credit expires 30 calendar days after issue. Winnings are withdrawable; the credits themselves are not. Full details in the New Member Deposit Program Terms & Conditions.
- 18+. T&C Apply. Play Responsibly
Best Prediction Markets in the US 2026
Updated by Joss Wood
Senior Commercial Editor
Fact Checked by Lee James Gwilliam
Senior Vice-President
Prediction markets are the fastest-growing way to trade on real-world events in the US: elections, sports, the economy, pop culture, all of it. On this page, we compare all 11 platforms we track side by side, so you can see exactly how fees, market coverage, and regulatory status stack up before you sign up anywhere.
Below, you'll find the platforms actually available where you live, a full 11-brand comparison table, our take on each platform, and answers to the questions traders ask most before they trade their first contract.
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Full Comparison
All 11 Prediction Market Platforms Compared
| Brand | Regulatory Status | Fees | Best For |
|---|---|---|---|
 | Independent CFTC exchange | Up to ~$1.75/100 contracts; maker orders free | Widest single-platform market selection |
 | CFTC-regulated in US (Polymarket Clearing/QCEX) | $1.00-$1.75 per 100 shares, dynamic; makers get a daily rebate | Biggest overall market by volume |
 | Brokerage routing (Kalshi, ForecastEx, Rothera, OG.com) | 10% of price spread (5% w/ Gold), capped at $0.01/contract | Existing Robinhood users, no separate account |
 | Own CFTC-registered exchange (CDNA) | $0.01-$0.0175/contract; maker orders free | Crypto.com users already trading crypto |
 | CME Group-backed exchange | $0.01-$0.02/contract depending on price | DraftKings sportsbook users |
 | CME Group-backed, standalone app | Flat 2% of payout at settlement or cash-out | Sports contracts where sportsbooks aren't legal; financial markets anywhere |
 | Own exchange (built from Crypto.com's CDNA) | $0.0034-$0.0275/contract, highest near 50c | Fanatics loyalty/FanCash users on mobile |
 | Independent, CFTC-regulated exchange | 2% on net gains (straight trades); free on parlays | Traders who want to set their own price |
 | Independent, CFTC-regulated exchange | Free on standard trades; small fee on live/parlay trades | Cost-conscious sports traders |
 | CFTC exchange/clearinghouse (Crypto.com spinoff) | $0.02 to open + $0.02 to close early; free at settlement | Social, leaderboard-driven trading |
 | CFTC exchange, accessed via IBKR or Robinhood | $0.01/contract exchange fee; no IBKR commission | Existing IBKR clients |
Fee and regulatory details verified via live web research.
Crypto-Funded vs. Fiat-Only
Most of what's on this page runs on regular dollars - bank transfer, debit card, ACH, nothing different from any brokerage account. The exceptions: Crypto.com Predict and OG.com sit on Crypto.com's own crypto exchange, and Polymarket's global platform is built on USDC. If a bank-account-only setup is a dealbreaker, those three are where to start.
Brand-by-Brand
Our Take on Each Platform
The most markets under one roof. Kalshi covers politics, economics, sports and culture on its own federally regulated exchange - no hopping between apps to find your trade.
The biggest name in the game. Polymarket moves more trading volume than anyone else on this list, and the global platform runs on crypto (USDC) if that's your thing.
Already on Robinhood? You're already set up. No new account, no fresh ID checks - your login routes you to whichever partner exchange (Kalshi, ForecastEx, Rothera, OG.com) has the best price.
Full review coming soon
Cheap trades, crypto-friendly. Fees run as low as a penny a contract, and it lives right inside the Crypto.com app you're probably already using.
Full review coming soon
Feels like your sportsbook, because it basically is. DraftKings brings its familiar parlay-style trading into event contracts, backed by CME Group.
Full review coming soon
Trade sports even where sportsbooks aren't legal. FanDuel Predicts opens sports-adjacent contracts in states without regulated betting, plus financial markets everywhere - all on one flat 2% fee.
Full review coming soon
Built around FanCash. If you're already earning Fanatics rewards, this folds event contracts straight into that loyalty ecosystem with a clean, mobile-first app.
Full review coming soon
Set your own price instead of taking theirs. ProphetX lets you post your own odds peer-to-peer, and only charges a fee when you actually win.
Full review coming soon
Built to be the cheap option. Novig is sports-only, but reviewers consistently flag it as one of the least expensive ways to trade, with no fee on standard trades.
Full review coming soon
For traders who want the leaderboard, not just the trade. OG.com leans social, with leaderboards and parlay-style contract creation, and it's Robinhood's newest football-contract partner.
Full review coming soon
Zero commission if you're already an IBKR client. ForecastEx trades event contracts right from your existing Interactive Brokers account - no new sign-up, no extra KYC.
Full review coming soon
Head to Head
Kalshi vs. Polymarket
Kalshi vs. Polymarket: which is right for you?
We break down regulatory status, market coverage, and platform features head-to-head in a dedicated comparison, rather than repeating it here.
Fundamentals
The Fundamentals of Prediction Markets
Prediction markets are similar to sports betting in that you're forecasting the outcome of a real event, but the format is different. You're buying and selling "contracts" tied to that event rather than placing a bet with a bookmaker, and prices range from $0 to $1, reflecting the market's implied probability. You're not going up against a bookie; you're trading against other traders, and market consensus (not a set line) determines what a contract is worth. Funding works like a normal brokerage account at most of these platforms - bank transfer or debit card - though a few, Polymarket's global platform and Crypto.com Predict among them, run on crypto instead of dollars.
Legal Landscape
The Legal Situation Around Prediction Markets
The federal Commodity Futures Trading Commission (CFTC) treats event contracts as a distinct regulatory category from sports betting or online gambling, which is why federally regulated exchanges like Kalshi and ForecastEx can offer sports-adjacent contracts even in states where retail sports betting isn't legal. That distinction is being actively challenged. Several state regulators argue that sports-outcome contracts are simply sports betting by another name, and the fight is playing out in real time.
State AG action
Wisconsin sues Kalshi, Polymarket, Robinhood, Coinbase and Crypto.com
Wisconsin's Attorney General filed suit in Dane County Circuit Court arguing the platforms are facilitating illegal sports betting under the guise of federally regulated event contracts, adding to a growing list of states pushing back on CFTC preemption.
Filed April 23, 2026 (Wisconsin DOJ)
Insider-trading orders
CA, NY and IL bar state employees from trading on inside information
California's governor issued an executive order in March 2026 barring state employees from insider trading on prediction markets; New York and Illinois followed with their own orders in April 2026. Separately, Kalshi suspended and fined two traders in February 2026 for market manipulation and reported the cases to the CFTC.
CA: Mar 2026, NY: Apr 22 2026, IL: Apr 2026
Bottom line for traders: prediction markets currently operate in a genuine gray zone shaped by an ongoing federal-vs-state fight, not a settled legal picture. Which platforms are available, and which contract types they can offer, can change by state and by week.
Where They're Available
Even Where Your State Doesn't Have Legal Online Casinos
One reason prediction markets have taken off so fast: several of them are available nationwide under CFTC oversight, including in states where legal online real-money casino play does not exist yet. If you live somewhere without a regulated online casino market, prediction markets are a legal alternative worth understanding, not a workaround.
Explore What Online Casino Options Are Available in Your State
Legal online real-money casino play is currently limited to a handful of states (PA, MI, WV, NJ). See our full state-by-state casino rundown, or explore no-purchase-necessary social casinos as another option in the meantime.
What You Can Trade
Categories Available Across These Platforms
Law and Politics
Election outcomes, court case results, and regulatory decisions.
Finance and Economics
Fed rate decisions, company performance, GDP and inflation prints.
Sports
Game outcomes and combo-style contracts, now a growing focus for DraftKings, FanDuel Predicts, ProphetX and Novig specifically.
Popular Culture
Awards shows, major public events, and other cultural outcomes.
Key Terms
Prediction Market Glossary
| Term | What it means |
|---|---|
| Liquidity | How much trading activity exists in a market; higher liquidity means fairer, more accurate pricing. |
| Contract pricing | The tradable price of a contract, ranging $0-$1, which moves with market consensus and determines your payout. |
| Exchange | The platform that facilitates trades; unlike a bookmaker, an exchange doesn't set the price itself. |
| Slippage | When the price you actually trade at differs from what you expected, often a sign of thin liquidity. |
| Settlement | When a market closes and the real-world outcome becomes final, locking in profits or losses. |
| Market | A specific real-world event with a defined outcome, made up of one or more tradable contracts. |
Compare
Prediction Markets vs. Sports Betting
| Prediction Markets | Sports Betting |
|---|---|
| Tradable contracts on real-life events (elections, court cases, economic data) | Wagers limited to sporting event outcomes |
| Traders determine what each contract is worth | Bookmakers set the price of every bet |
| Fixed payout structure, prices range $0 to $1 | Variable payouts based on odds (e.g. -150 or +270) |
| Regulated by the CFTC, a federal agency | Regulated by state gaming commissions |
How We Got Here
How Prediction Markets Went Mainstream
2019-2020
Kalshi wins the first federal green light
Kalshi is founded in 2019 and becomes the first CFTC-designated contract market built specifically for event contracts, approved November 4, 2020. It launches to the public in early 2021, establishing the regulatory template every brand on this page now follows.
2024
A presidential election drives mainstream attention
The 2024 US election cycle pushes Kalshi and Polymarket volumes far beyond niche trading circles, introducing millions of Americans to event contracts for the first time and setting up the wave of sportsbook and brokerage entrants that follows.
December 2025
Sportsbooks and brokerages pile in within three weeks
DraftKings Predictions (Dec 19), Fanatics Markets (Dec 3) and FanDuel Predicts (Dec 22, with CME Group) all launch inside the same month, signaling that prediction markets have moved from a niche product to a mainstream one that major sportsbooks see as essential.
March-April 2026
States start drawing insider-trading lines
California's governor bars state employees from insider trading on prediction markets in March 2026; New York and Illinois issue similar executive orders in April, reflecting fast-growing regulatory attention as trading volume scales.
April 2026
Wisconsin sues five platforms over sports contracts
Wisconsin's Attorney General files suit in Dane County Circuit Court against Kalshi, Robinhood, Coinbase, Polymarket and Crypto.com, arguing their sports-related event contracts amount to unlicensed sports betting - the most direct state-level legal challenge yet to the CFTC framework.
June 2026
Sports-first exchanges get their own federal approval
ProphetX and Novig each win CFTC approval to operate as designated contract markets within a week of each other, intensifying competition for sports-focused trading specifically and rounding out the 11-brand field this page compares.
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Read Full BioPrediction Markets FAQs
What are prediction markets?
Prediction markets let you trade contracts tied to the outcome of a real-world event, politics, economics, sports, culture, rather than placing a bet with a bookmaker. Contract prices range from $0 to $1 and reflect the market's implied probability of the event happening.
Are prediction markets legal in the US?
Prediction markets are regulated federally by the CFTC as event contracts, a different legal category from sports betting or online gambling. That federal framework is being actively challenged by several states, so availability and contract types can vary by state and can change quickly. See the Legal Landscape section above for the current disputes.
How is a prediction market different from sports betting?
In a prediction market, traders set contract prices through buying and selling, and payouts are fixed between $0 and $1 per contract. In sports betting, a bookmaker sets the odds and payouts vary based on that line. Prediction markets are regulated by the CFTC; sports betting is regulated by state gaming commissions.
Do any of these platforms use or accept crypto?
A few, but most don't. Kalshi, Robinhood, DraftKings, FanDuel, Fanatics, Prophet Exchange, Novig, and ForecastEx all work like a standard brokerage account - bank transfer, debit card, or ACH, dollars in and dollars out. Crypto.com Predict runs on Crypto.com's own CFTC-registered exchange (CDNA), and its 2026 spinoff OG.com shares that lineage. Polymarket's global platform is crypto-native, built on USDC - though the CFTC-regulated product available to US traders runs through a separate clearing arm (Polymarket Clearing/QCEX), so don't assume US deposits work identically to the international platform without checking current funding options.
Can I trade prediction markets in a state without legal online casinos?
Often yes. Several federally regulated platforms on this page operate nationwide because they fall under CFTC oversight rather than state gambling law, which is why they're available even in states with no legal online real-money casino market. Always confirm current availability for your specific state before signing up, since a handful of states are actively contesting this.
Do all 11 platforms compete head-to-head?
No. Kalshi, Polymarket, ProphetX and Novig each run their own exchange. Robinhood Predictions, Interactive Brokers ForecastEx, and (until recently) Fanatics Predictions are brokerage front-ends that route your order to a partner exchange rather than operating one themselves. See the comparison table above for exactly how each brand is structured.
What's the difference between Kalshi and Robinhood Predictions?
Kalshi is its own CFTC-designated exchange with its own order book and market catalog. Robinhood Predictions isn't an exchange at all: it's a feature inside the Robinhood brokerage app that routes your trade to whichever partner exchange, Kalshi, ForecastEx, Rothera, or OG.com, is offering that specific contract. You can end up trading a Kalshi-listed contract through Robinhood without ever opening a Kalshi account.
Do I need a separate account for ForecastEx?
No. ForecastEx is a CFTC-regulated exchange, but it's designed to be accessed through an existing brokerage relationship, either Interactive Brokers directly or, via routing, through Robinhood. You don't create a standalone ForecastEx account or go through separate KYC; you trade its contracts from the brokerage account you already have.
How do I sign up for a prediction market platform?
The process is similar across platforms: create an account, verify your age and identity (18+ on most platforms, 21+ in a few states), deposit funds, and start trading. Brokerage-routed options like Robinhood Predictions and ForecastEx use the KYC you already completed for your existing brokerage account.
What can I actually trade on?
Coverage spans law and politics (election results, court rulings), finance and economics (Fed decisions, company performance, GDP), sports (game outcomes, combo-style contracts), and popular culture (awards shows, major public events). Sports-first platforms like DraftKings, FanDuel Predicts, ProphetX and Novig lean more heavily into game-outcome contracts.
What's the risk with prediction markets?
You can lose your full contract stake if the event resolves against your position, the same fundamental risk as any wagering or trading product. Prices moving against you before settlement (slippage) and low liquidity in thinner markets are the two most common ways a trade goes worse than expected.
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