USABest Prediction Market Platforms in the US and Sites Like Kalshi
As of September 2025, many new prediction market platforms are available in the US. Kalshi is still the best option, followed by Polymarket, PredictIt, and Robin Hood. Read more about event contracts and prediction markets along with a full list of available prediction market platforms in the US.
Kalshi is the Best Prediction Market Platform in the US
The best prediction market platform in the US is Kalshi. I’ve managed to test several prediction market platforms, and despite the influx of new prediction market operators, Kalshi still rank number one. Great options to Kalshi includes Polymarket, PredictIt, RobinHood, and Crypto-com affiliated sites like Hollywood.com and even Truth Social.
Overview of the Kalshi Prediction Market Platform
| Category | Information |
|---|---|
| Site URL | https://kalshi.com/ |
| Nationwide Access | Operates under federal regulations as a CFTC-regulated Designated Contract Market(1), legally accessible in all 50 states for users 18+ with a valid US address and SSN. |
| Predictions Markets | Offers contracts on sports (e.g., NFL, NBA, MLB, soccer, tennis, golf, esports, MMA), politics (e.g., elections, policy decisions), climate (e.g., temperature, hurricanes), economics (e.g., inflation, interest rates), and entertainment (e.g., Oscars, Spotify top artists). |
| Trading Model | Users buy or sell “yes or no” contracts priced between $0 and $1. Payouts are $1 for a correct prediction and $0 for an incorrect one, with profit or loss based on the difference. |
| Trading Fees | Variable fees, typically under 2%, are calculated as Fee = 0.07 × Contracts × Price × (1 – Price), capped at $1.75 for a $100 trade. |
| Mobile App | The Kalshi mobile app (iOS rated 4.7/5, Android 4.2/5) offers intuitive navigation, live order books, market trend graphs, and social features like leaderboards and community feeds. |
| Deposits & Withdrawals | Supports bank transfers (no fee), debit cards (Visa/Mastercard, 2% fee), crypto (USDC, SOL, BTC, XRP, WLD, no fee), and wire transfers (no fee, min. $2,500). Debit card/crypto withdrawals process in 30 minutes; bank transfers take 3-4 days. |
| Minimum Deposit | $1 for debit card, crypto, or bank transfer; $2,500 for wire transfers. |
| Bonuses | New users can claim a $10 bonus after trading $100 using the code ‘JUSTGAMBLERS’ |
| Player Safety | Features responsible gambling tools like trading breaks, self-exclusion, and personalized funding caps. |
Kalshi Buying and Selling Contracts: How Does it Work?
Kalshi’s trading model mirrors a stock exchange for event outcomes, allowing users to buy or sell “yes or no” contracts on events like sports, politics, or weather. Contracts are priced between $0 and $1, with payouts of $1 for correct predictions and $0 for incorrect ones. Users can choose between two order types for trading:
- Quick Orders: Buy or sell contracts instantly at the best available market price, ideal for fast trades but may span multiple prices if liquidity is low.
- Limit Orders: Set a specific price (or better) to buy or sell contracts, ensuring price control but requiring the market to meet your price.
Here’s How Kalshi Works in Practice
- Pick a market: Example: “Will the New York Yankees win tonight’s game?”
- Choose a side: Buy “Yes” if you think they will win; buy “No” if you don’t.
- Set your price: Contracts cost between $0.01 and $0.99 based on market sentiment.
- Wait for resolution: If you’re right, you earn $1 per contract; if wrong, you get $0.
Example: Buy 100 “Yes” contracts at $0.40 each ($40 total) for “Will the New York Yankees win tonight?” If the Yankees win, you earn $100 ($1 per contract), for a $60 profit. If they lose, the contracts expire worthless, and you lose $40.
Kalshi’s live order book and market trend graphs help you track price movements and public sentiment, while advanced traders can use API-driven algorithms for data-driven strategies.
Different Types of Prediction Markets Available in Kalshi
| Sports | Events |
|---|---|
| American Football | Politics |
| Baseball | Culture |
| Basketball | Crypto Prices |
| Soccer | Climate |
| Ice Hockey | Economics |
| Golf | Companies |
| Motorsports | Financials |
| Tennis | Technology |
| Esports | Science |
| MMA | Health |
| World Events |
Kalshi Trading Fees Explained With Examples
Kalshi charges a small fee for each trade, which is how the platform earns money. These fees are low compared to traditional sportsbooks and depend on the contract’s price and quantity. They’re designed to be easy to understand, even if you’re new to trading. Here’s how it works:
How Fees Are Calculated: Fees are based on a contract’s “expected earnings” (how likely it is to pay out). The standard formula is: Fee = 0.07 × Contracts × Price × (1 – Price), rounded up to the nearest cent(2). Explained:
- Contracts: The number of contracts you buy or sell.
- Price: The cost of each contract (from $0.01 to $0.99), showing the market’s belief in the event happening.
- Kalshi Fee Example: If you buy 100 “Yes” contracts at $0.50 each for “Will the New York Yankees win tonight?”, the fee is: 0.07 × 100 × $0.50 × (1 – $0.50) = $1.75. Your total cost is $50 + $1.75 = $51.75. If the Yankees win, you get $100 ($1 per contract) for a $48.25 profit. If the price is $0.10, the fee is: 0.07 × 100 × $0.10 × (1 – $0.10) = $0.63, so your cost is $10 + $0.63 = $10.63
Special Fees for S&P 500 and Nasdaq-100 Markets: For markets like “Will the S&P 500 close above X today?” the fee is lower: Fee = 0.035 × Contracts × Price × (1 – Price). For 100 contracts at $0.50, the fee is $0.88, half the standard rate.
Market Maker Fees: For specific markets (e.g., NFL, NBA, Fed interest rates), “maker” orders (Limit Orders not immediately matched) have a fee: Fee = 0.0175 × Contracts × Price × (1 – Price). For example, 100 contracts at $0.50 cost $0.44. These apply only when the order executes, not if canceled.
Editor’s Advice About Navigating Kalshi’s Fees
“Keep your trades cost-effective by checking the fee with the ‘i’ icon before you buy. Fees are usually under 2%, maxing out at $1.75 for a $100 trade, or $0.88 for a trade involving the S&P 500. Look for contracts priced near $0.01 or $0.99 for the lowest fees, and don’t worry about small overcharges because Kalshi refunds rounding fees over $10 monthly. And remember this: Fees are higher for “50/50” bets (around $0.50) and lower for long shots or near-certain bets (near $0.01 or $0.99). Kalshi is affordable, but always check fees to ensure your trade is worth it.”
Patrik Lidin, Sports Betting Expert and former Sports Trader
Kalshi Banking Options
| Banking Method | Deposit Fee | Instant Funding | Withdrawal Fee | Max Daily Deposit |
|---|---|---|---|---|
| ACH (Bank Transfer) | Free | Up to $150–$250 | Free | $10,000 |
| Debit Card (Visa/Mastercard) | 2% | Yes | $2 | $2,500 |
| Cryptocurrency | Varies | Yes | Varies | $500,000 |
| Wire Transfer | Bank fees apply | No | Not available < $500,000 | No limit |
| Apple Pay | 2% | Yes | Not available | $2,500 |
JustGamblers’ News Updates Concerning Kalshi
- October 10, 2025: Kalshi recieves competition from many new prediction market platforms.
- August 7, 2025: California Tribes Sue Kalshi and Robinhood Over Illegal Sports Betting
- July 7, 2025: Prediction Markets Boom: Kalshi Hits $2 Billion Valuation, Polymarket Eyes Unicorn Status
- May 13, 2025: Kalshi’s Courtroom Victories and Potential Ripples in the Sweepstakes Casino Industry
- March 13, 2025: Kalshi Expands, But Faces Regulatory Scrutiny
- January 13, 2025: Democratic representatives aim to regulate election betting through the Commodity Exchange Act
- December 6, 2024: Kalshi Became the Most Popular Free App in the Apple App Store
- October 30, 2024: Kalshi Makes US Election Betting Legally Available for All Americans
Sites Like Kalshi: Other Alternatives
As of September 2025, many new prediction markets platforms have launched in the US. Kalshi is still the most established, dominating the market, but Polymarket, Robin Hood, and a host of other minor operators are expected to balance the market shares.
PredictIt
Focused on US politics, PredictIt operates under a CFTC no-action letter, legally allowing real-money bets (up to $850 per market) on elections and policy outcomes. Popular with academics and forecasters, it’s less versatile than Kalshi but trusted for political sentiment data. US users can access it with some limitations.
Polymarket
An international blockchain-based platform on Polygon, Polymarket offers real-money trading on politics, sports, financial forecasts, and pop culture. Known for its accuracy during the 2024 US election, it uses smart contracts for transparency and low-cost transactions. Until recently, US users faced restrictions due to regulatory hurdles, but it’s now legally available and a top-choice for Americans.
Robinhood
Robin Hood is launched a prediction market hub in 2025, partnering with Kalshi and ForecastEx to offer regulated trading on sports, politics, and economics. Integrated into its popular app, it aims to make event betting mainstream.
Crypto.com
CFTC-approved trading for prediction markets is now legally available on Crypto.com where you can trade all types of event contracts from $10 and up.
Underdog
Underdog Sports partnered with Crypto.com in September 2025 to offer prediction markets in 16 states. This entry made Underdog the first daily fantasy sports operator to venture into the increasingly crowded industry of prediction market platforms in the US.
PrizePicks Predict
PrizePicks is the second fantasy sports operator to offer prediction markets as of late 2025 after securing approval to offer event contracts under the PrizePicks Predict brand.
MegaSportsPro(gressive)
In September 2025, MegaSportsPro entered prediction markets with an innovative product that features lottery-style progressive jackpots and various gamified prize mechanism alongside regular event contracts.
Slips
Slips launched an AI-powered prediction market platform in September 2025, featuring everything from sports to politics prediction markets.
MyPrize Markets
In November 2025, MyPrize became the first sweepstakes casino to offer prediction markets. Solely on the merits of a sweepstakes site, MyPrize is great site compared to the competition. I've reviewed MyPrize extensively and given the site 4.0 out of 5.0 stars, with a recommendation for new players. The launch of MyPrize Markets is made in partnership with Crypto.com.
Runner Up: PredictIt is the Second Best Prediction Market Platform in the US Right Now
I added “right now” because this is subject to change as soon as a new prediction market platform enters the US, for example, Polymarket or Robinhood. PredictIt is good, but it’s narrow in scope and lacks the resources of Kalshi, Polymarket, or Robin Hood. Still, for the time being, PredictIt is the second-best option for American traders, so I’ll share a bit of information about the platform.
One thing to know: PredictIt only offers options for politics and finance. The platform has a limited scope, but it’s also a strength. If you’re primarily interested in these two trading categories, then you should add PredictIt to your portfolio to leverage the best positions in the market.
Overview of the PredictIt Prediction Market Platform
| Category | Information |
|---|---|
| Site URL | https://www.predictit.org/ |
| Nationwide Access | Legally accessible in all 50 US states under a CFTC no-action letter, available to US citizens 18+(3). |
| Prediction Markets | Politics and Finance. |
| Trading Model | Users buy or sell “yes or no” shares priced between $0.01 and $0.99, reflecting the market’s probability of an event. Correct predictions pay $1 per share; incorrect ones are worthless. |
| Trading Fees | 10% fee on profits from winning trades; 5% fee on withdrawals. No deposit fees. Additional bank/check fees may apply. |
| Mobile App | No iOS or Android apps available, purely browser-based. |
| Deposits & Withdrawals | Deposits via debit/credit card (instant). Withdrawals via ACH (2-3 business days) or check (several weeks). All transactions in USD. |
| Minimum Deposit | $10 for debit/credit card deposits. |
| Bonuses | No welcome bonus or promo code available. |
| Player Safety | CFTC oversight ensures fair market practices and data security. Offers responsible trading guidelines and education. Politics and finance focus limit market manipulation risks. |
Different Types of Prediction Markets Available in PredictIt
Unlike Kalshi, PredictIt has a narrow scope and only offers prediction markets for politics and financial markets. Additionally, they target domestic events, such as the US elections and the Nasdaq and Dow Jones markets.
PredictIt Trading Fees Explained With Examples
PredictIt charges fees to keep its platform running, and while they’re straightforward, they can add up in ways that surprise new traders. Unlike Kalshi’s variable fees based on contract prices, PredictIt applies a fixed 10% fee on profits from each winning trade and a 5% fee on withdrawals(4), regardless of whether you win or lose. There are no deposit fees, but bank or check fees may apply. Here’s a simple breakdown to help you understand how these fees work and avoid unexpected costs.
How PredictIt Fees Are Calculated:
- 10% Profit Fee: For each winning trade (when you sell shares at a profit or hold them until they pay out at $1), PredictIt takes 10% of your profit per position, not your overall account profits. This can hurt if you have mixed results across trades.
- 5% Withdrawal Fee: When you cash out your account balance, PredictIt charges 5% of the withdrawn amount, regardless of the outcome.
- No Deposit Fees: Funding your account is free, though your bank may charge for certain methods (e.g., credit card or check).
Editor’s Advice About Navigating PredictIt’s Fees
“The 10% profit fee can hit hard. The fee applies to every position; even near-breakeven results will cost you. Additionally, there is a 5% withdrawal fee, which is relatively high. These costs take away from the platform, and it makes it easy to recommend Kalshi as a superior option.”
Patrik Lidin, Sports Betting Expert and Former Sports Trader
JustGamblers’ News Updates Concerning PredictIt
- October 30, 2024: PredictIt is Another Prediction Platform Where Americans Can Bet on the US Election
Prediction Market Platforms That Are About to Launch in the United States
- DexWin
- Myriad
- Forkast
- Interactive Brokers
- NinjaTraders
Latest News Update Prediction Market Platforms in the United States
- March 27, 2026: A new research report, 'Kalshi and the Rise of Macro Markets,' from the US Federal Reserve Board found that prediction market platforms like Kalshi provide valuable tools for measuring macro markets: "a high-frequency, continuously updated, distributionally rich benchmark that is valuable to both researchers and policymakers."
- Check out JustGamblers’ news feed for news about prediction markets in the US.
What Are Prediction Markets?
Prediction markets are online platforms where users trade contracts to predict the outcomes of future events, such as sports games, elections, financial markets, or pop culture moments. These platforms use “yes or no” event contracts, priced between $0.01 and $0.99, with a payout of $1 for correct predictions and $0 for incorrect ones. For example, if you buy 1,000 “yes” contracts at $0.25 each for “Will the S&P 500 close above 7,000 by year-end 2025?” and it does, you earn $1,000 ($1 per contract) on a $250 investment. If wrong, you lose the $250.
What is the Difference Between Prediction Markets and Sports Betting?
Unlike traditional betting, prediction markets leverage crowd ‘wisdom’ or market sentiment to forecast outcomes, often with high accuracy, as seen in platforms like Kalshi and Polymarket. As shown on this page, different operators can have different focuses but operate essentially the same way.
Sports betting, on the other hand, involves wagering against a bookmaker.
Editor’s Note About Definition and Differences Between Prediction Markets and Sports Betting
“One way I like to think about it is that prediction markets have decentralized pricing, free of meddling from the platform. Traditional sports betting is centralized, with operators setting the prices. Once the prices are live on a bookmaker, odds are mainly corrected by market sentiment. Meaning that, beyond the initial pricing, market dynamics dictate the odds in both prediction markets and online sportsbooks. However, it’s common for bookmakers to manage risk by adjusting prices (odds) throughout the lifetime of an event. So, yeah, sportsbooks are more centralized in nature, while the opposite is true for prediction market platforms. At the end of the day, would I classify prediction markets as gambling? Yes, I would. But I don't make up the rules. In the absence of clear rulings at the federal and state levels, it remains to be seen how prediction markets will be defined. For me, there is no difference in taking a position on Kalshi or in the BetMGM sportsbook app. There's a slightly different process and fee structure, but at the end of the day, regardless of word gymnastics exercised by proponents, it's gambling.”
Patrik Lidin, Sports Betting Expert and Former Sports Trader
Are There Any Risks Betting on Prediction Markets?
Betting on prediction markets carries risks similar to regular online sports betting sites. Event contracts are short-term, all-or-nothing bets on uncertain outcomes, making them riskier than traditional investments like stocks or bonds. You could lose your entire stake if your prediction is wrong. Like sports betting, prediction markets can be addictive, potentially leading to financial or emotional harm if not approached responsibly.
To manage risks better, I suggest you follow these guidelines:
- Only bet money you can afford to lose.
- Treat betting as occasional entertainment, not a habit.
- Set a strict budget for betting and stick to it.
- View predictions as fun, not as investments, unless you belong to the top percentile and is a professional predictor (professional gambler).
Different Types of Prediction Markets Available on Trading Platforms
| Type | Description and Examples | Prediction Market Platforms |
|---|---|---|
| Political Forecasting | Traders bet on election results or policy outcomes, often outperforming polls. Example: Polymarket’s 2024 US election market favored Trump’s victory with $30 million in bets, reflecting real-time shifts from debates or news. Governments and media use these for insights into voter sentiment. | Kalshi, PredictIt, Polymarket, Myriad Market, DexWin |
| Business Decisions | Companies use internal markets for anonymous employee bets on product launches or sales targets. Example: Google and Microsoft forecast project deadlines, reducing bias for more accurate predictions and early issue detection. | Kalshi, Polymarket, Myriad Market, DexWin |
| Sports Betting | Peer-to-peer trading on game outcomes, with prices (e.g., $0.60 = 60% chance) reflecting real-time sentiment from injuries or news. Example: Betting on Super Bowl winners or Logan Paul’s next boxing match, unlike bookmaker-set odds. | Kalshi, Polymarket, Myriad Market, DexWin |
| Economic Forecasting | Bets on economic indicators like inflation or unemployment rates often predict shifts before official reports. Example: Polymarket’s 2024 markets on US unemployment rates help central banks and investors refine models. | Kalshi, PredictIt, Polymarket, Myriad Market, DexWin |
| Public Sentiment Analysis | Governments and organizations gauge public mood on issues like healthcare or immigration via betting behavior. Example: Decentralized markets track sentiment on policy reforms, offering a dynamic alternative to surveys. | Kalshi, Polymarket, Myriad Market, DexWin |
| Entertainment and Culture | Users bet on cultural events like Oscar winners or box office hits. Example: Studios use markets to predict movie success or celebrity event appearances, guiding marketing strategies. | Kalshi, Polymarket, Myriad Market, DexWin |
| Scientific Discoveries | Markets forecast research milestones, like AI breakthroughs or Mars landings. Example: Metaculus predicted COVID-19 vaccine approvals and AGI advancements, aiding research prioritization. | Kalshi, Polymarket, Myriad Market, DexWin |
FAQ About Prediction Market Platforms
Yes, winnings from prediction markets are considered taxable income in the US. The IRS treats prediction market earnings as ordinary income, like gambling winnings(5). You may receive a Form 1099 or W-2G reporting your winnings, but even without these, you must report all income on your tax return. Failing to do so could result in penalties and interest.
Outcomes are resolved based on reliable, publicly verifiable data sources specified by the platform. For example, Kalshi uses official sports results for games, government reports for economic indicators, or certified election results for political markets. If an outcome is unclear (e.g., due to disputes or cancellations), platforms like Kalshi or PredictIt follow predefined rules, often refunding trades or resolving based on the most authoritative source available. Check each market’s rules before trading.
If a market is canceled (e.g., an event doesn’t occur or data is unavailable), platforms like Kalshi typically refund all trades at the original purchase price, minus any fees already paid. PredictIt follows similar protocols, with resolutions based on its rulebook. Always review the market’s specific terms before trading to understand cancellation or dispute policies, as these vary by platform.
Yes, Kalshi offers a highly rated mobile app (iOS 4.6/5, Android 4/5) with live order books and market graphs for seamless trading. PredictIt is web-based but mobile-friendly, though it lacks a dedicated app. Blockchain platforms like Polymarket are also mobile-accessible via browsers, crypto wallets with mobile apps. Ensure a secure internet connection to protect your account.
You must be 18+ to trade on Kalshi or any other prediction market platform, with a valid U.S. address and SSN for identity verification. Non-US platforms like DexWin may have fewer restrictions but require crypto wallets, which carry additional risks. Some platforms may also require proof of age or residency during account setup to comply with regulations.
Yes, Beyond Kalshi and Polymarket, there is RobinHood, Crypto.com, Underdog, PrizePicks Predict, MegaSportsPro, Slips, and a few other prediction market apps readily available to American users. Many more prediction market platforms are expected to launch.
Changelog Best Prediction Market Platforms Page
- 03-27-2026: Added a section reflecting the latest news on prediction market platforms, including findings from a recent report from the Federal Reserve Board that put Kalshi and other prediction sites in a favorable light, as they provide valuable macro market insights for policymakers and researchers.
Sources and Links
- United States Court of Appeals, accessed on August 22, 2025, <https://media.cadc.uscourts.gov/opinions/docs/2024/10/24-5205-2077790.pdf>
- Kalshi Fee Schedule, accessed on August 22, 2025, <https://kalshi.com/docs/kalshi-fee-schedule.pdf>
- United States Court of Appeals for the Fifth Circuit, accessed on August 22, 2025, <https://www.ca5.uscourts.gov/opinions/pub/22/22-51124-CV0.pdf>
- FAQ: YOUR PROFIT AND OUR FEE, accessed on August 22, 2025, <https://predictit.freshdesk.com/support/solutions/articles/5000516282-your-profit-and-our-fee>
- IRS GAMBLING INCOME AND EXPENSES, accessed on August 22, 2025, <https://www.irs.gov/pub/irs-news/at-01-17.pdf>