Illinois prediction markets, like Kalshi and Polymarket, let you trade on real-world outcomes. This includes buying and selling contracts on a Bears games, the governor’s race, Fed rate decisions, and Oscar winners.
It’s easy enough to learn and because prices are set by other traders rather than a bookmaker you can move in and out of positions before an event actually ends. The advantage of trading on markets and futures go well beyond anything the sports sites offer you in the state.
This guide compares the best prediction markets in Illinois, explains what you can trade, best promos and covers the shifting regulatory landscape.
Top prediction market promos in Illinois
Are prediction markets legal in Illinois?
Yes, prediction markets like Kalshi and Polymarket are legal in Illinois. Both platforms are registered with the Commodity Futures Trading Commission (CFTC), the federal agency that authorizes prediction exchanges to operate nationwide.
Trading prediction markets on CFTC-registered exchanges, even on sporting events, is different and separate from placing traditional sports wagers with a licensed sportsbook in Illinois. The CFTC oversees prediction market trading in the US, while the Illinois Gaming Board regulates gambling in Illinois.
Illinois passed a law in 2025 regulating sports event contract trading, including requiring exchanges to obtain licenses from the Illinois Gaming Board. Multiple lawsuits are contesting that law, including one filed by Kalshi, and the courts will eventually decide the extent to which Illinois can impose its own rules for such trading, if at all.
The two products work differently in practice. Traditional sports wagers are placed against the book, and the sportsbook sets the odds. Event contracts are federally regulated derivatives, classified as swaps under the Commodity Exchange Act. Trades take place between between individuals with the exchange accommodating those positions. The exchanges have no interest in how the markets resolve, as they instead charge a per-transaction fee or take a portion of winners’ payouts.
This derivatives classification is how prediction markets can legally operate in Illinois, and it is also the point that state regulators are challenging in court.
Every app on this page operates within that federal framework, either holding designated contract market (DCM) status directly, as Kalshi, or offering contracts through a registered DCM, as FanDuel Predicts does with CME Group.
Illinois prediction apps reviewed
We gave each platform below a different “best for” tag based on where it beat the others in our testing, covering market depth, pricing, ease of use, and contract selection. Here is the quick version, with our full reviews below.
- Polymarket: Best sign-up bonus and fastest-growing market selection
- Kalshi: Best for reliable, high-volume trading on major events
- FanDuel Predicts: Best if you want to see contract pricing in multiple formats
- OG Predictions: Best for crypto price targets and financial markets
- DKeX (formerly DraftKings Predictions): Best if you are new to trading and want a familiar app
1. Polymarket: Best sign-up bonus and fastest-growing market selection
You can sign up to Polymarket in Illinois through its iPhone app. The US exchange began as an invite-only beta in late 2025 before opening to all iOS users in 2026, and the rollout is still expanding, so desktop and Android traders should use Kalshi for now. New users get a $20 bonus after trading $20, the strongest welcome offer of any platform we tested.
The catalog is smaller than the global Polymarket platform for now, but it is growing fast, with new markets added and trading volume climbing week over week. Polymarket also charges no settlement fee on winning positions, which matters if you hold contracts to resolution.
For Illinois traders, the sports coverage is the draw today. You can trade contracts on the Bulls, the Sky, the Cubs, and other local teams, covering single games and season-long futures, with pricing that reacts quickly when news breaks. US customers trade on Polymarket’s QCX exchange with credit, debit, bank wire and ApplePay available for deposits.
| Polymarket IL Bonus | Deposit $10, Get $20 Trading Bonus |
| Polymarket IL Promo Code | RATE |
| Terms and Conditions | Must be physically located in Illinois. VPN access will not work. Will require KYC verification. Must be 18+ |
2. Kalshi: Best for reliable, high-volume trading on major events
Kalshi is the most complete prediction market you can use in Illinois today. It runs on every platform, iOS, Android, and desktop, and it reliably posts deep order books on the events people are actually talking about, from Fed decisions to playoff games. Your idle cash also earns interest while it sits in your account, which no other platform on this page offers.
The Illinois coverage is strong. We found more volume on the 2026 race for Senator Dick Durbin’s seat than anywhere else, and contracts on Cubs and White Sox games tend to fill faster here while Polymarket’s US catalog is still building out. If you want one app that covers politics, sports, economics, and culture right now, this is it.
| Kalshi IL Bonus | Trade $25, Get up to $500 |
| Kalshi IL Promo Code | RATE |
| Terms and Conditions | Must be physically located in Illinois. VPN access will not work. Will require KYC verification. Must be 18+ |
3. FanDuel Predicts: Best if you want to see contract pricing in multiple formats
FanDuel Predicts lets you view contract prices as percentages, multipliers, dollar values, or American odds, and that last option makes it the easiest bridge from sports betting to prediction markets. If you have used FanDuel Sportsbook, the app will feel immediately familiar, where Kalshi or Polymarket may take some getting used to. Contracts are offered through a joint venture with CME Group, one of the oldest regulated exchanges in the country.
Know the tradeoff before you sign up: FanDuel does not offer sports event contracts in Illinois, because offering them in a state where it holds a sportsbook license would put that license at risk. That makes FanDuel Predicts a fit for trading elections, economics, and culture, like Illinois US House race markets, rather than a sportsbook alternative.
| FanDuel IL Bonus | |
| FanDuel IL Promo Code | |
| Terms and Conditions | Must be physically located in Illinois. Does not offer sports contracts. VPN access will not work. Will require KYC verification. Must be 18+ |
4. OG Predictions: Best for crypto price targets and financial markets
OG Predictions is built by Crypto.com, and the financial roots show. You get a deeper bench of cryptocurrency price target markets than any other platform on this page, plus community features like leaderboards that Kalshi and Polymarket lack. Contracts trade on Crypto.com’s regulated derivatives exchange, which holds both DCM and clearing designations from the CFTC.
If you want Illinois sports contracts, you’ll want to check Kalshi or Polymarket first, as the liquidity is significantly higher for getting in and out of positions quickly. Where OG earns its place is finance and politics, including futures on whether Gov. J.B. Pritzker runs for the 2028 Democratic presidential nomination.
| OG IL Bonus | |
| OG IL Promo Code | |
| Terms and Conditions | Must be physically located in Illinois. VPN access will not work. Will require KYC verification. Must be 18+ |
5. DKeX (formerly DraftKings Predictions): Best if you are new to trading and want a familiar app
DKeX is officially live in all 50 states and open in Illinois. This prediction app is the easiest place to start if you have never traded a prediction market. DraftKings built the app to look and work almost exactly like its other products, so if you have used DraftKings Sportsbook or DFS, you already know your way around. Under the hood, contracts trade on the Railbird exchange that DraftKings acquired, which now does business as DKeX and holds its own CFTC designation.
The catalog is the tradeoff. You get a solid mix of politics and culture markets, though a thinner selection than Kalshi or Polymarket carries, and no sports event contracts in Illinois, since offering them here could put DraftKings’ state sportsbook license at risk. Treat DKeX as a comfortable way to learn the format rather than your main trading venue.
| DKeX IL Bonus | Trade $5, Get $50 in Prediction dollars |
| DKeX IL Promo Code | |
| Terms and Conditions | Must be physically located in Illinois. Does not offer sports event contracts. Will require KYC verification. Must be 18+ |
How to trade prediction markets in Illinois
Illinois prediction markets are independent of sports betting, as they are regulated by the CFTC, not than the Illinois Gaming Board. You can go from download to your first trade in six easy steps.
- Choose an exchange: Every Illinois prediction app on this page operates under CFTC oversight, which means you have the strongest consumer protections available. Pick based on what you want to trade, the fees involved, and the sign-up bonus. Our reviews above break down where each one is strongest.
- Complete identity verification: Provide your legal name, address, email, and occupation. Exchanges are required to verify who you are before you can trade or withdraw. Some, like Kalshi and FanDuel, will require additional details from you, including your financial background.
- Enter the sign-up bonus promo code: Most Illinois prediction sites apply their offer automatically, but if a code is required, like RATE for Polymarket’s $20 bonus, enter it during registration so you don’t miss out.
- Fund your account: Regulated exchanges accept ACH transfers, debit cards, and on some platforms cryptocurrency. Minimum deposits on this page run from $1 at OG to $20 at Polymarket.
- Search for contracts: You should start with the events you already follow. The contracts resolve on a yes or no basis, and trade between $0.01 and $1. The price reflects the public’s view of the probability of the event happening.
- Withdraw earnings: If you win, you can cash out from the app to your chosen payment method or leave your balance in your account. Kalshi offers a 3.75% APY on cash balances of $250 or more, though the rate is variable. Withdrawal times vary and can take longer depending on which payment method you choose to use.
Upcoming sports events to trade on in Illinois
You can trade on any sporting event the exchanges list, not just games involving Illinois teams. College sports are a good example. Illinois sportsbooks cannot take any bets on in-state teams like the Fighting Illini and Northwestern, but you can trade contracts on those games through a prediction market.
The price and odds move as news breaks and teams perform. With prediction markets, you can trade both directions. A key injury during a Cubs playoff run could tank the your yes price within minutes, while a player coming back from injury can push the contracts the other way.
Season-long contracts open months early, and prices are usually softest before casual trading arrives. The calendar below doubles as an entry map.
| League | Event | Date |
|---|---|---|
| NFL | First Chicago Bears preseason game of 2026-27 season | Aug. 15, 2026 |
| NCAA | Start of 2026-27 season | Aug. 22, 2026 |
| MLB | 2026 Playoffs | Sept. 29, 2026 through Oct. 31, 2026 (if necessary) |
| WNBA | 2026 Playoffs | Sept. 27, 2026, through Oct. 30, 2026 (if necessary) |
| NCAA | Start of 2026-27 season | Nov. 1, 2026 |
| NWSL | 2026 Playoffs | Nov. 6, 2026, through Nov. 21, 2026 |
Illinois prediction markets vs. sports betting
Betting on sports and trading event contracts are both open to you in Illinois, and each format offers a different experience. If you are familiar with online sports betting in Illinois, prediction markets can diversify your options:
- Fees/Hold: Sportsbooks make money by building a margin into their odds. Prediction markets charge fees per trade and/or transaction.
- Legality: Licensed sportsbooks operate under the jurisdiction of the Illinois Gaming Board. Regulated prediction exchanges operate under the CFTC.
- Market structure: At a traditional sportsbook, you are betting against the house. Prediction markets operate on a peer-to-peer system, meaning your “competition” is other traders.
- Pricing/odds: Sportsbooks set the lines for bets and move them according to their handicapping. On a prediction exchange, you and the other traders determine pricing based on demand for contracts. This is also why liquidity is important. If you want to get out, you’ll need demand to sell those contracts.
- Trading flexibility: Many sports wagers are locked in through the resolution of contests, although some books offer limited early cash-out options. Prediction markets allow greater freedom moving in and out of positions.
The key difference is that traders set contract prices based on their perception of probability, whereas sportsbooks set lines to try to guarantee that they make money regardless of how events turn out.
What prediction markets offer in Illinois
Prediction market categories cover far more than sports, and each platform has different strengths. Here is where to look first.
- Cryptocurrency: You can trade price target contracts on individual currencies, like whether Bitcoin closes above a set level by the end of the month. Kalshi has the most reliable liquidity, while OG Predictions offers the widest range of price targets.
- Culture: These contracts cover entertainment outcomes, like whether a summer release tops the weekend box office or who wins at the major award shows. The best performer in this category is Kalshi. It has everything from reality TV shows to Rotten Tomatoe scores and late night TV.
- Economics: You can trade the Fed’s next rate decision, monthly inflation prints, or whether the S&P 500 hits a milestone by year end. Best platform for economics: Kalshi, with FanDuel Predicts a solid pick if you want contracts that run on CME Group’s exchange.
- Politics: You can buy and sell contracts on races like the open Durbin Senate seat, which party controls Congress after the November midterms, and mention markets for prominent political figures. Best platform for politics: Kalshi, where we found the deepest volume on the Illinois Senate race.
- Sports: You can trade on whether the Cubs hold their playoff spot, Bears season win totals, or single games for the Bulls, Sky, White Sox, and Fighting Illini. Best platforms for sports: Kalshi and Polymarket, which carry the volume you need to get in and out quickly.
Legal landscape for Illinois prediction markets
Illinois prediction markets follow different rules than the state’s sportsbooks. The clearest example is age. You can trade on any prediction market on this page at 18, while Illinois sportsbooks require you to be 21.
Taxes on your winnings work similarly across both. The Illinois Department of Revenue and the Internal Revenue Service generally treat sports betting winnings and prediction market earnings as taxable income, though the IRS has not issued guidance specific to prediction market platforms. Keep detailed records of your trades, fees, wins, and losses for your federal and Illinois returns, and consult a tax professional to ensure accurate payment and reporting.
Illinois has also enacted the nation’s first state tax on prediction market trading, passed as part of Senate Bill 3019. As of July 1, 2026, operators owe the state 1.75% of each sports event contract traded, rising to 3.5% after the first five million trades in a fiscal year, plus a $15 million licensing requirement. The tax falls on the operators rather than on you directly, but Kalshi and the CFTC have both sued to block it, and if it survives, the costs could show up in your trading fees.
FanDuel and DKeX do not offer sports event contracts in Illinois. Both companies hold Illinois sports betting licenses, and neither offers sports contracts in states where it runs a licensed sportsbook.
Flutter set out the policy when it announced FanDuel Predicts in its Q3 2025 results, positioning the launch for states “without regulated sports betting.” CEO Peter Jackson put it plainly on the earnings call: “We always said we wouldn’t do anything to damage our existing business.” Kalshi and Polymarket have no sportsbook licenses to protect, so they list sports contracts in Illinois while the court cases play out.
Latest updates
Illinois is one of the most active legal battleground for prediction markets in the country. The CFTC has sued Illinois to defend its exclusive authority over the exchanges after the Illinois Gaming Board sent cease-and-desist orders to Kalshi, Polymarket, Crypto.com, and Robinhood. Kalshi, in turn, has sued Illinois Attorney General Kwame Raoul and other officials over the law Illinois enacted imposing licensing and taxation requirements on the exchanges.
The fight recently escalated when Illinois passed the nation’s first exchange wager tax, covered above, and the CFTC amended its complaint to challenge it, asking the court to block the law before its July 1 start date.
The core question in every one of these cases is the same: whether sports event contracts are federally regulated swaps under the CFTC’s exclusive jurisdiction or sports wagering under Illinois law. Whichever way the courts rule will shape what you can trade in Illinois.
- June 25, 2026: Kalshi sues Illinois over new licensing and tax requirements
- June 16, 2026: Gov. Pritzker signs the FY2027 budget containing the nation’s first tax on prediction market trades
- June 2026: Illinois moves to tax online ads, social media, and prediction markets
- April 2, 2026: CFTC sues Arizona, Connecticut, and Illinois over prediction market regulation
- March 13, 2026: Illinois regulators say prediction markets are illegal gambling, but traders love them
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Availability data verified weekly. Operator footprints reflect platform terms — sports-specific markets on some operators may have additional state-level restrictions.
Things to know before you trade in Illinois
Trading on prediction markets has an element of risk. You can keep that risk under control by knowing how the platforms work before you deposit and by being responsible with your trading.
- You need a buyer to get out: There is no house on the other side of your trade. If you want to exit a position early, another trader has to want your contracts, and thin markets can mean wide spreads, bad fills, or holding to resolution whether you like it or not. This is why we weigh liquidity so heavily in our rankings.
- Watch the fees on low-priced contracts: A few cents of fees on a $0.10 contract takes a much bigger bite of your potential profit than the same fee on a $0.60 contract. Check each platform’s fee schedule before you trade low-priced longshots, or run the numbers with our fee calculator.
- Read the resolution rules before you buy: Every contract settles against defined criteria and a named source. If the wording is ambiguous, the market can resolve against what you thought you were trading, so read the rules on the contract page, not just the headline question.
FAQ
Is Kalshi legal in Illinois?
Yes, Kalshi is legal in Illinois. It received its designated contract market license from the CFTC in November 2020 and opened to US traders in July 2021, making it the longest-running federally regulated prediction market in the country. Kalshi remains live in Illinois while it contests the state’s new licensing and tax law in court.
Is it legal to use prediction markets in Illinois?
Yes. Event contracts are classified as swaps under the Commodity Exchange Act, and that law gives the CFTC exclusive jurisdiction over swaps traded on federally designated exchanges. Federal law overrides state gambling law, which is why platforms like Kalshi and Polymarket can operate in Illinois without an Illinois Gaming Board license. Illinois is challenging that reading in court for sports event contracts, but the platforms remain live while the cases play out.
Can I trade on sports outcomes in Illinois?
Yes. If you want to trade on the Bears, Cubs, or Illini, Kalshi and Polymarket are where you will find the deepest markets. OG Predictions lists some sports contracts too, but the books are thinner, so getting in and out of positions takes longer. You will not find sports contracts on FanDuel Predicts or DKeX in Illinois, since both companies run licensed sportsbooks here and keep sports trading out of their sportsbook states.
How are prediction markets different from sports betting in Illinois?
You trade contracts against other traders rather than betting against the house, and prices come from demand instead of a bookmaker’s line. Sportsbooks answer to the Illinois Gaming Board, while prediction markets answer to the CFTC.
Can I trade contracts on the Bears, Cubs, Bulls, or Blackhawks?
Yes, you can trade contracts on Illinois pro teams on Kalshi and Polymarket. You can also trade on in-state college teams like the Fighting Illini, which Illinois sportsbooks cannot take bets on at all.
Which prediction market platforms work in Illinois?
Kalshi, Polymarket, FanDuel Predicts, OG Predictions, and DKeX (formerly DraftKings Predictions) all operate in Illinois. Polymarket is currently available through its iPhone app only, while FanDuel Predicts and DKeX are both integrated into the companies’ main apps, so you can trade without a separate download.
Are prediction market winnings taxable in Illinois?
Generally yes, at both the federal and state level. Keep records of your trades and consult a tax professional, since the IRS has not issued guidance specific to prediction markets.
How does trading on a prediction market work?
Every market is a yes or no question, and contracts trade between $0.01 and $1. The price is the market’s probability. Say a contract asking “Will the Bears make the playoffs?” trades at $0.30 for yes, meaning traders collectively give the Bears a 30% chance. If you buy yes at $0.30 and the Bears get in, the contract settles at $1 and you keep the $0.70 difference on every contract you hold. If they miss, it settles at $0. You do not have to wait for the season to end, either. If the Bears start hot and the price climbs to $0.55, you can sell at the current price and take your profit before the question resolves.