Prediction markets are available in New York. Seven federally regulated apps currently accept New Yorkers — a narrower field than states like California, where more than a dozen operate.
The gap comes down to how the two states are structured. New York has a licensed mobile sports betting market and a BitLicense regime for crypto-facing businesses. Together, those keep some operators off the New York board entirely and force others to strip sports contracts out of their New York menu.
The apps that do serve New York operate under Commodity Futures Trading Commission oversight, with peer-to-peer event contracts on economics, politics, culture, and sports.
This page provides a list of prediction markets in New York, what they offer or don’t, and how the markets work. Since the market is fluid, we update regularly with how New York is proceeding.
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What are prediction markets?
Prediction markets provide users opportunities to trade in event-related contracts with the liquidity in each contract moving based on whether a particular situation occurs. Instead of betting against the house as you would at a traditional sportsbook, platform members buy and sell their positions in these contracts based on their confidence that the specified circumstances will or will not play out in a peer-to-peer model.
Contracts available with prediction market apps and websites span many forms of entertainment like sports, political happenings, and real-life news events like economic conditions. Resolution of these contracts is simple, as they are set up on a basic yes or no premise related to the stated event.
Because prices sit between 1¢ and 99¢, they double as implied probabilities — a contract trading at 60¢ reflects the market’s view that the outcome has a 60% chance of happening.
Top prediction market apps in New York
Top choices for people in New York include sports gaming brands like DraftKings Predictions and FanDuel Predicts along with dedicated prediction market operators like Kalshi and Polymarket. Crypto-native exchanges Coinbase Predict and Gemini Predictions have rolled out prediction markets to New York users, and brokerage-based Robinhood offers event contracts through its Kalshi partnership.
Kalshi and Polymarket have been competing hard for New York specifically, going as far as running grocery giveaway popups in Manhattan. Here’s a breakdown of each app active in the state.
Kalshi: The No. 1 prediction market app in New York
New York availability: ✓ Yes
Kalshi runs a prediction market regulated by the United States Commodity and Futures Trading Commission (CFTC) with some of the largest amounts of liquidity across multiple types of contracts. Kalshi offers markets for economics, entertainment, politics, sports, and more.
Kalshi’s edge over other prediction markets is depth. With over $13 billion in monthly notional volume and tens of millions of active contracts across its order book, New Yorkers get tighter pricing and faster fills on Kalshi than on apps running through CME Group or other shared-exchange setups. Kalshi is the only platform carrying state-specific political markets on the 2026 New York gubernatorial race between Kathy Hochul and Bruce Blakeman, alongside sports contracts covering the Knicks, Yankees, Mets, Giants, Jets, Rangers, and more.
Kalshi’s request-for-quote system also supports custom parlays that the sportsbook-affiliated prediction apps don’t offer, and new users earn a $10 bonus after their first $10 in trades using DeFi Rate’s promo code.
Unfortunately for fans of Kalshi, that also makes Kalshi a target for regulators and politicians who want to limit market availability for prediction exchanges. Kalshi is heavily engaged in legal disputes across the US and legislators have taken aim at enacting new statutes to limit its business as well.
Polymarket US: Available in NY, all markets available
New York availability: ✓ Yes
Polymarket returned to the US market in December 2025 through its CFTC-regulated entity after acquiring QCEX, a CFTC-licensed exchange, and the platform now operates out of its Manhattan headquarters. On April 8, 2026, Polymarket US expanded beyond sports to launch its first political and economic markets, including 2026 midterm House and Senate races, Fed rate decisions, GDP, and CPI contracts.
Polymarket’s biggest advantage over other prediction markets is pricing. Its Polymarket US taker fee is a flat 0.30% with a 0.20% maker rebate — the lowest effective rate among CFTC-regulated platforms and well below what users pay on Kalshi’s probability-scaled formula or at DraftKings Predictions and FanDuel Predicts on volume. Combined with the deepest global liquidity on politics, where Polymarket regularly posts $2 billion-plus in weekly global notional volume, that translates to better prices for New Yorkers trading the 2026 midterm balance of power, the New York U.S. House seats on the ballot, and sports contracts on teams like the Giants, Mets, and Rangers.
Sign-up through DeFi Rate’s invite code skips the general waitlist and unlocks a $20 welcome bonus on a $20 deposit. Polymarket US is backed by up to $2 billion in investment from Intercontinental Exchange, the parent company of the New York Stock Exchange.
DraftKings Predictions: Available in NY, limited to CME contracts
New York availability: ✓ Yes
One of the biggest names in online gambling in the US has gotten into the prediction markets game through DraftKings Predictions. New Yorkers should note that DraftKings Predictions is a separate app from DraftKings Sportsbook, which also operates in New York.
What DraftKings Predictions does better than the other sportsbook-affiliated apps is breadth. The platform pulls markets from both CME Group and Crypto.com’s CDNA exchange, giving it a wider culture menu than FanDuel Predicts, which runs on CME Group alone. A flat $0.01 per-contract fee is tied for the lowest in the category, and new users get the largest welcome offer among the sportsbook-affiliated prediction apps — a dollar-for-dollar match on the first trade up to $75 in Predictions Dollars. ESPN and NBCUniversal content integrations round out the experience.
In New York specifically, DraftKings Predictions does not offer sports contracts — sports wagering runs exclusively through the licensed DraftKings Sportsbook under its state license. What DraftKings Predictions offers in the state are non-sports categories like entertainment awards, technological advancements, stock market movements, and elections. Aspects that might leave something to be desired for some people include a lack of a universal wallet shared between DraftKings Predictions and other DraftKings products.
FanDuel Predicts: Available in NY, limited to CME markets
New York availability: ✓ Yes
FanDuel has also thrown its hat into the prediction markets ring with FanDuel Predicts, a standalone platform for contract trading. FanDuel Predicts is separate from the online FanDuel Sportsbook in New York.
FanDuel Predicts’ edge is brand familiarity and a low barrier to entry. The interface matches what anyone already using FanDuel Sportsbook, Daily Fantasy, or Racing products expects. The 2% flat transaction fee on potential payout is simpler to calculate than Kalshi’s variable formula, and new users get a $25 no-deposit welcome bonus — the best no-deposit offer among the sportsbook-affiliated prediction apps.
In New York specifically, FanDuel Predicts does not offer sports contracts — sports wagering runs exclusively through the licensed FanDuel Sportsbook under its state license. What FanDuel Predicts offers in the state is financial and economic markets including the S&P 500, Nasdaq-100, crypto prices, oil and gas, gold, GDP, and CPI. One notable downside is the occurrence rate of slowdowns on the platform as FanDuel is still working to perfect its functionality.
Coinbase Predict: Available in NY but app is difficult to use
New York availability: ✓ Yes
Coinbase Predict rolled out prediction markets to US users on January 28, 2026 and the platform is available to New Yorkers. Coinbase Financial Markets operates as an introducing broker, routing orders into Kalshi’s CFTC-regulated exchange, which means users trade into the same order book as direct Kalshi customers.
Coinbase’s advantage over standalone prediction apps is onramp friction — or the lack of it. For the millions of New Yorkers already holding crypto on Coinbase, the Predict tab inside the main app eliminates the account-creation, KYC, and bank-linking steps that Kalshi, Polymarket, and the sportsbook-affiliated apps require.
Users can also fund trades with USDC directly from their crypto balance, bypassing ACH wait times entirely, and start trading sports, crypto price, and election contracts for as little as $1. The tradeoff is a broker markup on top of Kalshi’s base fees, so traders focused on cost-per-contract will find direct Kalshi access cheaper.
New Yorkers should be aware that on April 21, 2026, the New York Attorney General filed a lawsuit against Coinbase alleging that its prediction markets operate as unlicensed gambling under state law, seeking approximately $2.2 billion in damages and restitution. Coinbase has responded that prediction markets are federally regulated national exchanges and intends to continue operating while the case proceeds.
Gemini Predictions: Available in New York, but limited coverage
New York availability: ✓ Yes
Gemini launched its prediction market platform on December 15, 2025 after securing a CFTC Designated Contract Market license — becoming the first crypto-native exchange to win that designation. The platform operates via affiliated entity Gemini Titan, LLC and is available in all 50 states including New York. Gemini Predictions covers sports (NFL, NBA, college football), politics including 2026 midterm markets, economics, and crypto range contracts.
What Gemini offers that other prediction markets don’t is its own CFTC DCM license combined with a unique crypto contract structure. Rather than binary “Will Bitcoin hit $100K?” markets, Gemini uses range contracts with $4,000 price brackets — letting traders take positions on whether Bitcoin lands between $89K and $93K on a specific date, a format unique among CFTC-regulated platforms.
Predictions are built directly into the main Gemini interface, so existing New York customers can trade event contracts using their crypto exchange balance with no separate funding step, and users currently get fee-free trading during the platform’s launch promotion period. The Winklevoss twins have made predictions a centerpiece of Gemini’s “super app” strategy, cutting overseas operations in February 2026 to focus on the US market.
New Yorkers should be aware that on April 21, 2026, the New York Attorney General filed a separate lawsuit against Gemini Titan seeking approximately $1.2 billion in damages and restitution, alleging the platform operates as unlicensed gambling under state law. Gemini’s platform continues to operate in New York while the case proceeds.
Apps that cannot operate in New York
While most major CFTC-regulated prediction market platforms serve New York residents, a handful of operators do not. Readers should be aware of the following before attempting to sign up.
- Crypto.com — Crypto.com’s prediction markets platform does not operate in New York in any capacity. The company has not secured a BitLicense from the New York Department of Financial Services, and a Crypto.com spokesperson has explicitly confirmed New York is not a service state for its event contracts.
- Fanatics Markets — Powered by Crypto.com’s Derivatives North America (CDNA) exchange, Fanatics Markets does not offer contracts in New York.
- Underdog Predict — Built on Crypto.com’s CDNA infrastructure, Underdog Predict does not offer contracts in New York. The company acquired the CFTC-regulated Aristotle Exchange in March 2026, giving it the infrastructure to eventually operate its own prediction market, though no launch or New York timeline has been announced.
- OG — The crypto-focused prediction exchange does not accept trades from people in New York.
Are prediction markets legal in New York?
Yes. Although the extent to which prediction markets can offer event contracts is a matter of debate in many capitols and courthouses, prediction markets in New York are legal by virtue of their regulation on the federal level. The legal concept of preemption, meaning that federal law outweighs state law, ensures that legal access.
Kalshi has leaned on that preemption concept in its lawsuit against the New York State Gaming Commission (NYSGC), filed October 27, 2025 in the Southern District of New York. The suit followed an October 24 cease-and-desist letter in which the NYSGC ordered Kalshi to stop offering sports event contracts in the state, citing Kalshi’s market on the New York City mayoral race between Zohran Mamdani and Andrew Cuomo — a contract that had seen more than $63 million in notional trading volume.
The federal court has temporarily paused state enforcement while Kalshi’s preliminary injunction motion is under consideration, meaning Kalshi continues to operate in New York for now.
On April 21, 2026, New York Attorney General Letitia James opened a second front by filing separate lawsuits against Coinbase Financial Markets and Gemini Titan in Manhattan Supreme Court, alleging their prediction markets are unlicensed gambling operations. The state is seeking approximately $2.2 billion in damages from Coinbase and $1.2 billion from Gemini, along with restitution and orders barring the platforms from serving New Yorkers under 21. Both companies have stated they will continue operating and defend the cases on federal preemption grounds.
Legislators have also moved. In November 2025, New York Assembly member Clyde Vanel introduced the ORACLE Act, a restriction bill that would ban contracts on individual sporting events, political and election outcomes, catastrophic events, deaths, and individual securities, while allowing tournament-wide markets (like Super Bowl or NCAA champion) to continue. Vanel reintroduced the bill on January 7, 2026 for the current legislative session. Platforms that continue operating in New York after being ordered to stop would face fines of up to $1 million per day.
For the latest developments, stay up to date with news from our team.
New York AG Targets Lawsuits Against Coinbase and Gemini Prediction Markets
New York Attorney General Letitia James has filed civil enforcement actions against Coinbase Financial Markets and Gemini Titan, accusing both companies of operating unlicensed gambling platforms through their prediction market offerings. The lawsuits, filed in New York Supreme Court in Manhattan, center on so-called event contracts that allow users to trade on the outcomes of […]
Prediction Markets Fight Back With Free Groceries as New York Regulators Close In
Prediction market platforms Kalshi and Polymarket mount dueling PR offensives with grocery giveaways in New York City as NY regulatory pressure intensifies.
New York Bill Restricting Prediction Markets Re-Introduced For 2026 Session
ORACLE Act sponsor says bill strives to “make sure that Wall Street stays on Wall Street and Vegas stays in Vegas”
Sen. Addabbo: New York State Can’t ‘Wait on Sidelines’ To Address Prediction Markets
While a bill has been filed in the New York State Assembly to restrict prediction markets on multiple fronts, Senator Joseph Addabbo’s support is critical to its passage. Assemblyman Clyde Vanel went it alone in introducing NY AB 9251 on Friday, Nov. 7. The legislation does not yet have a co-sponsor in the Senate. As […]
Getting started: how to open your acount
Checking out prediction markets online while in New York is normally quick and simple, merely requiring account registration and funds deposits in four steps.
- Pick an app — Kalshi is a great choice for people looking for the greatest variety of markets and highest liquidity.
- Verify your identity — To comply with CFTC regulations, exchanges have to verify your age and identity. You will need to provide your date of birth, email address, legal name, mailing address, and Social Security Number. Some apps, including FanDuel Predicts, also require financial information for background verification. While verification can happen almost instantly, in some cases, it may take up to two days and you may need to provide multiple proofs like government-issued identification.
- Fund your account — Platforms provide many options for digital payments with these methods carrying tradeoffs between cost, security, and speed. For example, ACH transfers usually have no fees but it may take up to three business days for them to process. Debit card deposits normally happen within seconds but some of the exchanges attach fees to them.
- Find a contract that appeals to you — When you’re new to trading, start with a contract on a topic you know well. These contracts resolve yes or no, and you can enter a position for as little as a penny, so there’s no need to invest heavily while getting familiar with how the markets work.
New York prediction market bonuses
Prediction markets offer welcome bonuses to new users. While these deals may have substantially less value than typical sportsbook introductory offers, there are usually fewer conditions and terms to satisfy to extract the full value from them.
Another upside of taking advantage of bonuses at prediction markets is that many prediction exchanges pay interest on cash balances that have not been attached to contract positions. These bonuses are normally significant enough to help you get accustomed to this type of trading.
| App / Site | Welcome bonus | Promo code |
|---|---|---|
| Kalshi | $10 bonus after your first $10 in trades | DEFI |
| Polymarket | $20 bonus on a $10 deposit, plus waitlist skip | RATE |
| DraftKings Predictions | Up to $75 match on first trade in Predictions Dollars | No code required |
| FanDuel Predicts | $25 no-deposit welcome bonus | No code required |
| Coinbase Predict | No sign up promo | No code required |
| Gemini Predictions | Fee-free trading during launch promotion period | No code required |
| Robinhood | No sign up promo | No code required |
Things you can trade on
Crypto — Users can buy and sell contracts related to specific price targets for Bitcoin, Ethereum, and other forms of cryptocurrency. Polymarket has robust offerings in this category, although OG is the most popular exchange across the globe in this segment. OG does not accept trades from people in New York, though.
Economics — Contract variety includes decision from the Federal Reserve on interest rates, the Consumer Price Index, government unemployment reports, and Gross Domestic Product (GDP) updates. Kalshi is a popular option here.
Culture — Options range from markets related to award ceremonies (Emmys, Grammys, Oscars, etc.), the happenings in reality television series, and theater box office sales. These markets are available at DraftKings Predictions but interested people should note that liquidity tends to be smaller and these contracts are typically available for shorter periods of time than markets in other categories.
Mentions — Mention markets track what public figures, hosts, and commentators say on live broadcasts — for example, whether a politician will use a specific phrase during a speech or how many times a host will cite a particular topic during a show. These contracts are available at Kalshi and Polymarket only.
Politics and elections — Kalshi, Polymarket US, and Gemini Predictions all offer political contracts in New York. Kalshi leads on state-specific markets like the 2026 New York gubernatorial race and the elections of New York’s representatives in the United States Congress. Contracts on ballot initiatives and presidential elections are also available when relevant.
Sports — Kalshi and Polymarket US carry the most comprehensive sports menus for New Yorkers, including contracts on the Bills, Islanders, Knicks, Liberty, Mets, Nets, Orange, Rangers, Red Bulls, Sabres, NYCFC, Yankees, and more. Gemini Predictions offers sports markets as well, though with a less diverse selection. Users can buy into and sell positions at any time before the markets resolve, including while sporting events are in action. You’ll also have access to NFL futures, World Cup, College football, etc.
Exotics — Kalshi is the only platform available to New Yorkers that offers exotics, including custom parlays and multi-leg contracts built through its request-for-quote system. Exotics let traders combine multiple event outcomes into a single position, a feature no other CFTC-regulated app in the state offers.
Prediction markets vs. New York sports betting
Prediction markets are a different experience for people who want to trade contracts related to events that they follow. The biggest differences between prediction markets and sportsbooks are the operational and regulatory models. Some people prefer prediction markets because of the expanded offerings compared to New York’s online sportsbooks, too.
| Feature | NY Prediction Markets | NY Sports Betting |
|---|---|---|
| Who sets the odds | Traders | Sportsbooks |
| Odds format | Percentage | American, decimal, fractional |
| Offers Elections | Varies based on provider | No |
| Offers Sports | Yes | Yes |
| Offers S&P | Most do, but varies by provider | Yes |
| Age requirement | 18 | 21 |
| Can exit position mid-event | Yes | Depends on market |
| Prop market depth | Shallow | Depends on event |
| Funding methods | Crypto, banks, credit, debit | Varies based on book |
| Regulated by | CFTC | New York State Gaming Commission |
Another reason why people might choose prediction markets over traditional online sportsbooks is that states have started to look to online gambling for new revenues, meaning increases in tax rates and new taxes on revenue from conventional sports betting. As a result, sportsbook operators have passed those costs onto the consumer via betting minimums and less favorable odds.
Because prediction markets are federally regulated as derivatives, operators are not subject to the state gaming tax burdens that sportsbooks face. Individual traders, however, still owe applicable state and federal income tax on winnings — see the tax section below. Additionally, the peer-to-peer format of prediction markets allows users greater control over the fees associated with trading.
Other state markets
| Alabama | Alaska | Arizona | Arkansas | California |
| Colorado | Connecticut | Delaware | Florida | Georgia |
| Hawaii | Idaho | Illinois | Indiana | Iowa |
| Kansas | Kentucky | Louisiana | Maine | Maryland |
| Massachusetts | Michigan | Minnesota | Mississippi | Missouri |
| Montana | Nebraska | Nevada | New Hampshire | New Jersey |
| New Mexico | New York | North Carolina | North Dakota | Ohio |
| Oklahoma | Oregon | Pennsylvania | Rhode Island | South Carolina |
| South Dakota | Tennessee | Texas | Utah | Vermont |
| Virginia | Washington | West Virginia | Wisconsin | Wyoming |
How are prediction markets taxed in NY?
Each state in the US imposes its own tax framework related to capital gains and income in addition to federal standards for these matters. It’s on each user to educate themselves about these laws and what they mean for their specific situations.
For example, people who live in New York City are subject to a local income tax that people in other parts of the state do not deal with. Unlike other states, New York considers capital gains to be ordinary income rather than treating it differently.
Some people choose to use prediction markets rather than traditional sportsbooks because of the special tax requirements related to traditional gambling on the federal level like reporting thresholds and withholding standards. However, all traders are advised to consult a tax professional to ensure they are correctly reporting and paying on any amounts received.
Know before you trade
Although positions can be affordable and flexible, contracts on prediction exchanges always involve risk. Reliable platforms provider users with customizable limits and other resources like self-exclusion protocols free of charge.
People seeking more information on responsible trading can access that thanks to the National Council on Problem Gambling. New York also offers specific resources which may be more local for residents.