Prediction Markets: List of US Prediction Markets and Event Contracts

Prediction markets have quickly become part of the mainstream. The leading platforms provide a venue for trading event contracts on a diverse range of real-world outcomes. Sports, politics, and crypto prices are consistent volume drivers, while scores of other topics capture trader attention as markets and news cycles evolve. 

Kalshi and Polymarket are the dominant players in the prediction market space. There are numerous alternatives to explore, including offerings from familiar brands like DraftKings and FanDuel. Below, we take a comprehensive look at the landscape, covering the best places to trade and what you need to know to get up to speed quickly.

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What are prediction markets?

Prediction markets are platforms where event contracts tied to real-world outcomes are traded.  Participants on sites like Kalshi and Polymarket can buy and sell contract shares across markets, including economics, finance, culture, and weather. At most sites, trading revolves around “yes” or “no” shares on the outcome of the listed event. 

Contract prices can range from 1 cent to 99 cents. When the outcome resolves, winning contracts pay out at $1 each, while losing shares expire worthless. Prediction market pricing provides a quick snapshot of sentiment, also known as the “wisdom of the crowds,” with pricing easily translated into the implied probability of an outcome.    

Best prediction market sites in 2026

The number of prediction market sites has been steadily growing. Traders have plenty of options to explore, and more will be on the way. We continually put each through its paces to help participants find the best choices for them. Here are the best prediction market sites where you can trade today. 

1. Kalshi: Best overall prediction market for US traders

Best for: Participants seeking regulated access across multiple market categories, flexibility to actively manage positions, and active sports traders. 

Kalshi is the benchmark for U.S. prediction market trading. It has a deep lineup of markets and reliable liquidity for major events. You can seamlessly manage active positions, enter and exit with ease, and quickly add to your holdings. Features we love include interest on balances, the transparent fee structure, and a growing selection of combo contracts for sporting events. 

Where Kalshi wins

• A diverse lineup of markets is available for trading. Sports, politics, crypto prices, and mentions drive significant volume. Scores of niche categories, like weather and tech, let you explore other interests.  
• Transparent pricing and fees provide a clear picture of profit potential without any surprises. You can earn interest on idle cash, an extra benefit for keeping a balance on hand to take quick action. 
• Managing positions is hassle-free. You can take profits early or cut losses as needed, and add to your holdings in an instant. The seamless management helps you take better control of your portfolio.   

Areas of improvement

• There has been unclear resolution criteria for a small number of markets, leading to confusion for traders and significant backlash on social media. 
• For sports markets, player prop selection is limited compared to traditional sportsbooks. They can also be illiquid, leading to confusing and unappealing pricing. 

Kalshi’s combination of market depth, transparent fees, and regulatory standing makes it the natural starting point for anyone entering the prediction market space. For additional insight, our Kalshi review offers a comprehensive breakdown of everything you need to know. 

2. Polymarket: Best fee structure and crypto native

Best for: Crypto-native traders seeking the deep global prediction market liquidity, and US users who are looking for low fees and broad market variety.

Polymarket is the largest prediction market in the world by trading volume. The fee structure is among the lowest in the space, there’s full transparency on every trade, and significant liquidity across a range of popular markets. The platform returned to the US market in 2026 after acquiring QCX, a CFTC-registered exchange. The relaunch is still in progress. 

Where Polymarket wins

• Offers the deepest liquidity of any prediction market globally. Major markets typically generate millions in daily volume, translating into tight spreads and reliable order fills.
• Competitive fee structure with no settlement fee on winning positions. Transparent costs mean more of your returns stay intact.
• Every trade is recorded on the Polygon blockchain, positions are publicly verifiable, and settlement is handled on-chain, providing a level of transparency not available on centralized regulated exchanges.

Areas for improvement

• Crypto-native platform, with USDC required for trading. Fiat onboarding is available via MoonPay, a setup that could add friction for users without crypto experience.
• The U.S. relaunch has been a slow process. Availability is expanding but not yet fully operational, with limited market accessibility. 

Polymarket’s combination of global liquidity, low fees, and blockchain transparency makes it a preferred option for crypto-native traders. The U.S. relaunch is still in progress, so those looking for the full experience right out of the gate may want to explore other options. Our full Polymarket review has additional insight and a full breakdown of the trading experience. 

OG Predictions review 

Best for: Traders who want a polished, regulated platform with social features, parlay support, plus the potential for VIP benefits and the planned addition of margin trading. 

OG is Crypto.com’s standalone prediction market platform. It launched in February 2026 and built on the same CFTC-regulated CDNA infrastructure that powers Crypto.com’s prediction markets. Social features and an invite-only VIP program add a layer that most competitors don’t offer, while plans to offer margin trading could be another differentiator. 

Pros

• Broad sports market catalog including game lines, player props, futures, and parlays, delivering a complete toolkit for sports-focused traders.
• No user limits and no winner bans. OG welcomes sharps and doesn’t limit their action. The invite-only VIP program is attractive for those who trade at scale. 
• Fee waiver on winning settlements reduces the cost of holding positions to resolution, a nice complement and offset for those who actively trade and manage positions.

Cons

• Withdrawal options are limited to ACH only. No direct fees from OG, but bank fees could apply. Other platforms provide a wider range of choices. 
• The platform launched in February 2026 and is still building liquidity. Markets have expanded, but it’s a smaller overall selection than Kalshi or Polymarket. 

OG is an attractive option for sports-focused traders. There are no limiting or winner bans, a marked difference from traditional sportsbooks, plus an invite-only VIP program. Read our full OG Predictions review for a complete breakdown of platform details.

DraftKings Predictions review 

Best for: Traders familiar with the DraftKings ecosystem who want a straightforward entry point into prediction markets, particularly in states where the sportsbook is unavailable.

DraftKings Predictions brings a familiar interface to the prediction markets landscape. The platform operates as an Introducing Broker, routing trades through Wedbush Securities for execution on CME Group’s exchange. Like other DraftKings products, design is top-notch, and onboarding is seamless. Market depth has steadily expanded and covers the major bases. 

Pros

• Brand recognition and a familiar interface lower the barrier to entry. Those familiar with DraftKings can get up to speed with prediction markets in no time. 
• The expanding market catalog now covers a much broader selection, significantly improving over the initial launch offering.
• Sports fans in California and Texas, states where traditional sports betting remains unavailable, can trade on outcomes through a trusted platform.

Cons

• The flat per-contract fee structure has no cap, meaning costs scale with position size. There is also no interest earned on idle balances.
• Order book and price history are not visible, limiting the analytical tools available to traders who want to assess market depth before placing trades.

DraftKings Predictions is a practical starting point for those new to prediction markets. The lineup of markets continues to grow, but the lack of insight into volume and liquidity places it a step behind the industry leaders. Our full DraftKings Predictions review covers everything you need to know.

FanDuel Predicts review 

Best for: Traders seeking a simple prediction market entry point via a familiar, beginner-friendly interface backed by recognized leaders in gaming and derivatives. 

FanDuel Predicts is a joint venture between FanDuel and CME Group, one of the world’s largest derivatives exchanges. It brings the brand trust of FanDuel to the prediction market space, along with the company’s well-established focus on a user-centric interface. It’s a natural entry point for both users already in the FanDuel ecosystem and those new to prediction markets. 

Pros

• Backed by FanDuel and CME Group, with clear regulatory standing and the brand trust of one of the most established names in U.S. sports gaming
• Display flexibility. The default pricing display is set to show odds as multipliers, but you can customize it to your preferences, such as percentage, cents, or American odds. 
• FanDuel’s high standards for its user interface apply here, helping to shorten the learning curve for those new to prediction market trading. 

Cons

• The 2% fee on potential payout is the highest percentage-based fee among the regulated platforms and can compound quickly.
• Mobile app only, with no desktop version, limiting the platform for traders who prefer a larger screen experience for managing multiple positions

FanDuel Predicts is a well-built entry point for new prediction market participants, particularly those coming from the company’s other products. Active traders managing larger positions will want to weigh the fee structure carefully against alternatives. Our full FanDuel Predicts review has additional insight and details on availability. 

Underdog Predict review 

Best for: Sports-focused traders and existing Underdog users, as well as both new and experienced participants looking for a clean prediction market entry point. 

Underdog Predict made its debut in September 2025 through a partnership with Crypto.com Derivatives North America (CDNA). While it lives inside the Underdog Sports app alongside its established offerings, it operates as a separate product. In March 2026, Underdog acquired CFTC-regulated Aristotle Exchange, opening the doors to listing and clearing its own contracts.  

Pros

• Seamless integration for existing Underdog users, who can access prediction markets without downloading a new app, creating a new account, or learning a new interface
• Unique combo entry format lets you combine a prediction contract with fantasy picks in a single position, a feature no other regulated platform currently offers
• No deposit or withdrawal fees across all accepted methods, plus a straightforward and reasonable fee structure for event contract trading. 

Cons

• Available in 32 states only, leaving it with a much narrower footprint than industry leaders such as Kalshi, and absent from several major markets.  
• The majority of trades are executed at the live market price without limit order support. Order book visibility is also limited compared to dedicated exchanges like Kalshi.

Underdog Predict is the natural choice for existing users and sports-first traders who want a clean entry into prediction markets. The unique combo entry format for predictions and fantasy picks helps it stand out in a crowded field. Our full Underdog Predict review has everything you need to get started.

Prediction markets waiting for CFTC approval

How prediction markets work

Prediction market platforms let you trade on the outcome of real-world events. They function similarly to a financial exchange. The tradeable instruments are event contracts, most of which are structured in a simple yes/no format. You buy shares on the outcome that you expect. 

The position can be held to resolution, or it can be live traded while the market remains open. Pricing will continue to evolve up to settlement based on new developments and trading volume. Winning contracts resolve at $1, while incorrect calls settle at zero.  

The leading platforms are regulated by the Commodity Futures Trading Commission, with the stack behind the scenes varying by licensing designation. They offer markets for trading, calculate pricing, facilitate transactions, and handle resolution criteria for each market. 

Prediction market platforms make their money by charging a fee that varies based on the contract price. Using Kalshi as an example, the fee for trading 100 contracts is capped at $1.75, regardless of price point. Our guide to prediction market fees explains how it all works. 

What can you trade on prediction markets?

You can trade contracts on a wide range of outcomes at prediction markets. The majority of platforms feature binary options, which translates into yes/no outcomes. There are contracts with one choice to make, such as which team will win an upcoming game. 

Other contracts include a range of choices. Examples include contracts tied to the monthly Fed rate decision, where traders can choose from options such as no change, or a decrease or increase of 25 bps. 

Kalshi and Polymarket tend to offer very similar markets, but the exact wording of the contract and listings may vary. For example, the platforms take different approaches to monthly contracts for Bitcoin.  

• Polymarket: What price will Bitcoin hit in April?
• Kalshi: How high will Bitcoin get in April? 
• Kalshi: How low will Bitcoin get in April? 

Both platforms provide clear volume tallies for open markets, letting you quickly get a feel for liquid and illiquid markets. There are also slight variations in the names of the categories that you can trade. Examples of tradeable contracts in the major buckets include:  

• Elections: 2028 Democratic presidential nominee
• Politics: Who will leave their role in the Trump administration this year?  
• Sports: FIFA Men’s World Cup winner
• Culture: Who will win Survivor 50?
• Crypto: Bitcoin price at the end of 2026
• Climate: Highest temperature in NYC today? 
• Economics: Fed decision in April
• Mentions: What will Trump say this week? 
• Companies: When will SpaceX officially announce an IPO? 
• Financials: Nasdaq-100 close price end of 2026?
• Tech & Science: Will the U.S. confirm that aliens exist before 2027?  

Additionally, Polymarket operates both a US-facing site and an international one. Contracts available to trade and trading volume vary between the two platforms. Other platforms may not offer quite the broad selection as you’ll find at the industry leaders. For example, Underdog Predict mainly focuses on sports, but the menu is expanding.  

Prediction markets vs. sportsbooks

Prediction markets offer contract trading on sporting events. You can buy and sell shares on a range of outcomes, such as game winners, spreads, totals, props, and futures. While similar at the surface, the experience differs from what you’ll find at a traditional sportsbook. 

• What you can trade: Prediction markets go beyond sports with a wide range of other event outcomes to choose from. As the name implies, sportsbooks are focused on sports, with limited exceptions. 
• User participation: Prediction market traders buy and sell positions, which they can enter and exit at any time. Sportsbook users place bets and are generally locked into the outcome, absent early cashout opportunities.   
• Odds and fees: Prediction market pricing is determined by the market, with fees tied to the size of the trade. Sports bettors are wagering against odds set by the house, which bakes a vig, or hold, into listed lines.

If you’re solely into sports, sportsbooks have a broader selection of player props and certain other markets, but the gap is steadily closing. For those looking for the flexibility to enter and exit positions at any time, plus clarity on fees and implied probabilities, prediction markets are the better option. Check out our prediction markets vs. sports betting guide for more insight. 

Prediction markets vs. financial exchanges

Prediction markets share similarities with traditional financial exchanges. In both cases, you’re buying and selling shares in hopes of turning a profit. While that big picture view easily ties both together, there are key differences that traders in both areas need to understand. 

• What you’re trading: At a financial exchange, the underlying asset could be things like stocks, bonds, or cryptocurrencies. Prediction market trading revolves around event contracts, not physical or paper assets that you accumulate a stake in. 
• Timing and operations: You can buy and sell prediction market contracts at any time prior to event resolution. Cryptos and select markets operate around the clock, but stocks, bonds, and futures are most liquid during standard trading hours. 
• Pricing and fees: Prediction market contract pricing has a set range of zero to $1, with fees capped based on position size. Prices on financial exchanges vary based on the underlying asset, and the same applies to fees, which can differ by venue.    

For a direct comparison, prediction markets are closest framed as a derivatives exchange. The leading platforms are regulated by the CFTC, the agency that oversees the Chicago Mercantile Exchange (CME), regarded as the world’s largest derivatives marketplace.  

What to look for in a prediction market site

Having several options to consider is a good problem to have, but it can also lead to uncertainty about which is the best choice for you. When comparing prediction market platforms, you can keep it simple and begin by focusing on these key areas.  

• Fees: Review the fee structure for any platform that you plan to trade with. It should be clearly defined and reasonable. Take the time to compare fees to help decide where to trade, as they can have a direct impact on your bottom line.  
• Liquidity: If markets aren’t actively traded, prices can be skewed, and the appeal can be limited. Not every contract will be liquid, but you’ll want to make sure that there’s active and regular interest in the markets that you want to trade.  
• Market depth: You’ll want to make sure that the platform offers all of the markets that you’re interested in trading. The industry leaders cover all of the bases, while others are more specific in focus areas, such as sports or politics.  
• State availability: If a platform isn’t accessible in your state, it’s not going to do you any good. This applies to many of the sports-specific platforms. For others that operate nationally, availability could be subject to change. 
• Banking and speed: Most of the leading platforms have several funding options to consider. You’ll want to make sure that your preferred methods are covered, whether it’s crypto or a traditional banking method. 
• Accessibility: Some traders prefer apps, while others prefer the larger desktop experience. While many of the top platforms operate in both environments, make sure your preferences will be met.
• Registration process: For all regulated platforms, there’s a sign-up and verification process, with KYC protocols to meet. The registration process should be smooth and hassle-free, provided you do your part in verifying your details. 

If you land on a platform that checks off all these boxes, you’ve landed on a solid option. One miss doesn’t signal automatic disqualification, but missing the mark in multiple areas could be a red flag on a platform where the potential for headaches outweighs the appeal.  

Are prediction markets legal in the US?

Prediction market platforms regulated by the CFTC are legal, but availability may vary by state. For example, Kalshi and Polymarket operate nationwide, while DraftKings, FanDuel, and Underdog offer prediction markets in most states, but not all. 

By comparison, traditional sportsbooks are subject to individual state laws. To date, sports betting of at least some kind has been legalized in 39 states and Washington, DC. There remains a small list of outliers that have yet to legalize it, including California and Texas. 

Due to their CFTC regulation, prediction market event contract trading is considered akin to derivatives trading, such as what takes place at the CME. While that provides a green light at the federal level, it has still opened up pushback by individual states. 

It’s a fluid situation that continues to play out in several jurisdictions. Our prediction market reviews are regularly updated if there are any changes to the platform or state availability. For the latest developments, our news hub keeps its finger on the pulse of what’s happening.  

How to sign up for a prediction market site

You can sign up and be ready to trade at your prediction market site of choice in mere minutes. Use the steps below as a quick start guide. 

1. Pick your platform. Read our reviews of the best prediction market sites above and decide where you want to trade. 
2. Get up to speed. Understand how trading works on the platform, know what’s available to trade, and review the trading fees. 
3. Claim your bonus. Several of the leading platforms offer sign-up bonuses for new players. Use the applicable links or codes on this page to claim them. 
4. Register. Sign up for an account. As part of the process, you’ll be asked to verify your details and may be prompted to share identification. 
5. Deposit funds: You’ll need a starting balance. Choose your preferred method from the available options and add funds to your account.
6. Begin trading: Browse the available markets, decide your position, enter your stake, and process your trade.   

Our tip: While it’s perfectly fine to have a favorite prediction market platform, stay flexible enough to expand your horizons. By signing up to trade with multiple platforms, you can get a truer feel for what really works best for you. Additionally, having accounts with different platforms provides you with the flexibility to act quickly when you spot pricing inconsistencies that you feel strongly about.  

Our review and rating process

Our goal is to deliver comprehensive prediction market reviews that equip you with the knowledge to decide which platforms work best for you. We go beyond surface-level information that can easily be uncovered. Other reviews may cover the basics. We dig much deeper.

• Our reviews are conducted by industry experts. They have hands-on experience, know what to look for on platform mechanics, and understand what matters for traders. 
• We provide information directly from primary sources. The details we provide aren’t mere summaries. We dive deep into regulatory filings and each platform to uncover the facts.   
• Actionable information is the priority. Our reviews are tailored as complete guides, providing a clear picture of what to expect and unbiased pros and cons. 

For additional insight, our Editorial Guidelines and Policies page provides a complete look at our methodologies and practices.  

Latest news and updates

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Industry

What John Oliver Got Wrong, Right About Prediction Markets on Last Week Tonight

John Oliver dedicated 32 minutes of his HBO show Last Week Tonight to prediction markets on Sunday night. The comedy news show with millions of viewers marked another mainstream cultural moment for prediction markets that didn’t paint the emerging financial vertical in the best of light. Oliver’s segment was entertaining and largely fair, but missed […]

Valerie Cross

April 20, 2026

Volume Report

Kalshi Maintains $3B Weekly Volume, Polymarket Pulls Back Post-Masters

Weekly notional volume on the two largest prediction markets pulled back from the prior week’s Masters-fueled highs. Kalshi posted $3.06B for the week of April 13, down 13.6% WoW from the prior week’s record $3.54B. Polymarket had $2.04B in notional volume last week, down 17.5% from $2.48B, according to DeFi Rate’s prediction markets volume tracker. […]

Valerie Cross

April 20, 2026

US Elections

Vance Leads GOP 2028 Odds as Markets Price Trump Risk

The Republican side of the 2028 presidential race on prediction markets looks much more structured than the Democratic one, because there is already a traditional heir apparent in Vice President JD Vance. Additionally, President Donald Trump keeps hanging over the field, including through hints about a possible third-term run that may never legally materialize but still […]

Pat Evans

April 17, 2026

Industry

Ninth Circuit Debates Gaming vs Swaps Divide in Nevada vs. Kalshi Hearing

The US District Court for the Ninth Circuit didn’t let either side off easy in Thursday’s hearing for oral arguments in Nevada’s cases against Kalshi, Robinhood, and Crypto.com. Judges pressed on whether Congress ever clearly authorized federal regulators to displace state sports betting laws, while also probing whether CFTC rules already prohibit the very contracts […]

Valerie Cross

April 16, 2026

Regulation & Policy

Congress Presses CFTC Chair on Sports Contracts, Insider Risk and Sole Commissioner

Lawmakers on the House Agriculture Committee questioned Commodity Futures Trading Commission chairman Mike Selig during a hearing on Thursday, as scrutiny of prediction markets continues to intensify. The hearing was held in the Agriculture Committee due to its oversight duties related to the CFTC. In prepared testimony, Selig leaned heavily on enforcement, signaling the CFTC […]

Mike Breen

April 16, 2026

US Elections

Democratic Presidential Race Tops $1.1B in Trades with Two Years of Turbulance Ahead

Prediction markets are already treating the 2028 Democratic presidential race as a high‑volume, high‑volatility story with over $1.1 billion in trading volume, even though the field has barely taken shape and the primaries haven’t even begun.  On both Kalshi and Polymarket, California Governor Gavin Newsom leads the pack, with New York Rep. Alexandria Ocasio‑Cortez and Georgia Sen. Jon Ossoff also in […]

Pat Evans

April 16, 2026

Regulation & Policy

Kentucky Override Forces DraftKings, FanDuel to Choose: Prediction Markets or Sportsbooks

Kentucky’s legislature has overridden the governor’s veto of a bill that would force gambling licensees to choose between offering prediction markets and traditional gaming in the state.

Derek Helling

April 16, 2026

Industry

FanDuel Files New FCM, Racing DraftKings for Full Prediction Markets Stack

When DraftKings and FanDuel entered the prediction markets space, they made fundamentally different bets on how to build the business. Now both companies have futures commission merchant (FCM) applications pending as the gap between their strategic approaches rapidly closes. DraftKings started as an introducing broker, connecting customers to contracts without holding funds or managing clearing, […]

Mike Breen

April 15, 2026

Responsible trading at prediction markets

As with any type of trading, there are risks attached to prediction markets. No matter how likely an outcome may appear to be, profits are never guaranteed. Contracts that are priced near certainty levels can suddenly move in the opposite direction as new developments arise.

One of the regularly highlighted benefits of prediction markets is the aggregation of the wisdom of the crowd. Unfortunately, that too can come with risk. The crowd isn’t always correct. If you follow blindly without assessing the situation for yourself, you’re taking unnecessary risks. 

In markets that are liquid, entering and exiting positions as prices move is generally seamless. That’s not always the case in markets with lower volume. Slippage can happen while you await an order fill, and your set limit prices may not be readily accepted.

While the regulatory environment is out of the control of market participants, it is a situation that bears monitoring. Changes in availability or markets that can be traded could have an impact on your portfolio. Our news hub is the go-to spot to stay on top of the latest developments.

Lastly, the potential for a complete loss of your stake can happen on any trade. You should only trade with funds that you can afford to lose. As a general rule, your trading account should be limited to an amount that’s completely separate from what you need for living expenses.