Prediction markets let you trade Yes/No event contracts on real‑world outcomes — sports, politics, the economy and more. Because they’re regulated federally by the CFTC rather than under state gambling law, they’re available in most states, including many with no legal sportsbook.
We’ve tested the leading US platforms on regulation, market depth, fees, funding and app quality. Here are our top picks for 2026 — and a note that, by law, no prediction market offers pari‑mutuel horse racing (see our racing guide).
Ratings are editorial. These are real‑money financial products: contracts settle at $1 if you’re right and $0 if you’re wrong, so trade only what you can afford to lose.
Ranked by our editorial score. All are CFTC‑regulated for US users; pricing moves with the market, so there’s no fixed ‘bonus’ beyond the welcome offers noted.
Kalshi is the gold standard for US prediction markets — a fully CFTC‑regulated Designated Contract Market where you trade Yes/No event contracts like futures. It’s the easiest on‑ramp for Americans: fund with a bank, debit, PayPal or Venmo, with no crypto wallet or VPN. Liquidity is deep, sports now drive the bulk of volume, and it works in states with no legal sportsbook such as Texas and Georgia. New users typically get a $10 bonus after $10 in trades.
Robinhood brought event contracts to a mainstream audience by wrapping Kalshi’s CFTC‑regulated contracts inside its world‑class app. For the 25M+ people already trading stocks or crypto there, it means no second account and a single interface, at an ultra‑low $0.02 per contract. Non‑sports contracts are available in all 50 states; sports contracts are restricted in MD, NJ and NV.
Polymarket is the world’s largest prediction market by volume, famous for the deepest liquidity on major events and fees that often beat rivals on mid‑priced trades. After a 2022 CFTC settlement, it has returned to the US through its CFTC‑regulated QCX exchange. The trade‑off is a crypto‑first (USDC) funding flow, making it best for experienced or crypto‑comfortable traders.
DraftKings Predictions is the sportsbook giant’s CFTC‑regulated event‑contract market, live in 38 states — including many where its sportsbook isn’t — and open to 18+. It sits alongside the DraftKings sportsbook and casino under one login, part of the company’s coming super‑app. Read our full DraftKings review for details.
FanDuel Predicts brings CFTC‑regulated event contracts to America’s biggest gaming brand, letting FanDuel customers trade Yes/No outcomes alongside the sportsbook and casino. It’s a natural add for existing FanDuel users who want event contracts without a separate app. Full details are in our FanDuel review.
| Platform | Rating | Welcome offer | Code | Best for |
|---|---|---|---|---|
| Kalshi | 4.6 | $10 welcome bonus after $10 in trades | — | Regulated, beginner‑friendly |
| Robinhood Predictions | 4.4 | $5–$200 in free stock (new account) | — | Existing Robinhood users |
| Polymarket | 4.3 | $50 trading bonus on a $20 deposit | — | Depth & low fees |
| DraftKings Predictions | 4.7 | See our DraftKings review (Predictions section) | — | DraftKings ecosystem |
| FanDuel Predicts | 4.8 | See our FanDuel review (Predicts section) | — | FanDuel ecosystem |
Prediction markets let you trade Yes/No contracts on a huge range of real‑world events, not just sports.
Because they’re regulated federally by the CFTC, prediction markets are available in most US states — including Texas, Georgia and California, where there’s no legal sportsbook. State challenges create some carve‑outs.
All three leaders offer polished mobile apps; pricing moves with the market.
Opening a regulated event‑contract account is similar to a brokerage signup.
Other platforms moving into event contracts — context only, no affiliate link or rating.
Crypto.com offers CFTC‑regulated sports event contracts inside its widely used crypto app, leaning on its large existing user base and crypto‑native funding. It’s a natural fit for traders already in the Crypto.com ecosystem.
PrizePicks is one of the biggest daily‑fantasy pick’em operators in the US and has been moving toward prediction‑style markets, offering player‑projection contests that share DNA with event contracts.
Underdog is a fast‑growing DFS and pick’em brand expanding into event‑contract territory, known for a slick app and a younger, sports‑first audience.
Fanatics Markets is the Fanatics event‑contract product, which added a Combos feature to let users build multi‑leg contract slips ahead of major sports events.