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Independent & editorially reviewed Odds & offers updated June 23, 2026
Prediction markets let you trade on the outcome of real-world events—elections, economic data, sports, pop culture—by buying and selling contracts that pay out based on what actually happens. Unlike a sportsbook, where you place a fixed bet against the house, here the price of a contract moves with the crowd's view of the odds, and you can exit a position early to lock in a profit or cut a loss before the event even resolves. It's closer to trading than betting, which is part of why the category is growing fast and drawing a different kind of user.
This section covers the leading prediction market apps, including Kalshi, OG, and Polymarket, and explains how each one works, what markets it offers, how funding and fees are handled, and where it's available. Whether you're coming from sports betting or the stock market, these guides will help you find the platform that fits how you want to trade.
3 apps reviewed and rated by our team
4.9
Our score
Kalshi is a regulated prediction market platform that allows users to trade contracts on sports, politics, economics, and real-world events. Its exchange-style model lets traders buy and sell positions based on changing probabilities.
4.8
Our score
OG offers sports-focused prediction markets where users can trade event contracts instead of placing traditional sportsbook wagers. The platform provides real-time pricing, live market movement, and a streamlined trading experience for sports fans.
4.7
Our score
Polymarket returned to the U.S. market in 2026, but state availability remains fluid and I have not found an authoritative state-by-state list from Polymarket itself. Multiple industry sources describe it as available in "most states" with some restrictions.
Prediction markets are one of the fastest-growing segments of online trading, giving participants the ability to buy and sell contracts based on the outcomes of real-world events. Whether you want to trade on who wins an election, whether the Federal Reserve will raise interest rates, how many goals a team scores, or which film takes home the top award at a major ceremony, prediction markets turn virtually any verifiable outcome into a tradeable contract. For sports bettors, political junkies, and finance enthusiasts alike, these platforms offer a fundamentally different approach to putting your conviction on the line.
A prediction market is an exchange where participants trade contracts tied to specific future events. Each contract is structured as a simple yes-or-no question — for example, “Will Team A win tonight?” or “Will inflation exceed 3% this quarter?” Contracts are priced between $0.01 and $0.99, and that price reflects the collective probability that the market assigns to the outcome happening. If a contract is trading at $0.60, the market is saying there is roughly a 60% chance of the event occurring. If the event happens, the contract settles at $1.00; if it does not, it settles at $0. Your profit or loss is the difference between what you paid and the settlement value.
Unlike traditional sports betting or casino games where you play against the house, prediction markets work on a peer-to-peer model. You are trading with other participants who have the opposite view. This structure tends to produce more accurate probabilities than any single expert or pollster, a phenomenon known as the wisdom of crowds.
The appeal of prediction markets goes well beyond novelty. For starters, they cover an enormous range of topics — sports outcomes, economic indicators, weather events, political races, entertainment awards, and more — giving traders the ability to apply their knowledge in ways traditional sportsbooks simply do not allow. If you follow financial news closely, you can trade on Fed rate decisions. If you track college basketball obsessively, you can trade tournament outcomes. The market rewards research and accuracy, not just luck.
Prediction markets also offer more transparency than conventional sportsbooks, which embed their profit margin into the odds. On a prediction exchange, the fee structure is explicit and typically much lower than the vig you pay at a sportsbook. You can also enter and exit positions before an event concludes, giving you the ability to lock in a profit or cut a loss mid-event — similar to how investors trade stocks on an open market. For anyone familiar with betting exchanges, the mechanics will feel familiar, though prediction markets cast a much wider net in terms of what can be traded.
The prediction market space has grown rapidly, and a handful of platforms have emerged as the clear leaders. Here is a brief overview of the major players.
Kalshi is the only federally regulated prediction market exchange in the United States, operating under oversight from the Commodity Futures Trading Commission (CFTC) as a Designated Contract Market. Founded in 2021 and backed by Sequoia Capital and Charles Schwab, Kalshi offers more than 200 event contracts spanning sports, politics, economics, weather, finance, technology, and culture. Because it is CFTC-regulated, customer funds are held in segregated accounts at regulated US banks, and all contracts must be approved before listing. Kalshi is available to US residents 18 and older with a minimum deposit of just $1. It is the platform we cover in the most depth across our reviews and promotions sections.
Polymarket is the largest prediction market by trading volume globally, operating on the Polygon blockchain using USDC as its currency. It is an unregulated offshore platform, which means it is not available to US residents through official channels, though it attracts enormous liquidity and covers a wide range of markets. Its weekly trading volume regularly reaches into the billions of dollars, particularly around major political and economic events.
The prediction market space continues to attract new entrants. Platforms such as Robinhood and Webull have added access to Kalshi contracts through their existing apps, making prediction markets available to a broader retail investor audience. The space is evolving quickly, and the level of regulatory clarity in the US — driven in large part by Kalshi’s legal battles and the CFTC’s evolving stance — will shape which platforms expand most aggressively in the coming years.
Getting started is straightforward. For US residents, Kalshi is the logical first stop given its regulatory status and low barrier to entry. You will need to create an account, complete a Know Your Customer (KYC) identity verification process, and fund your account with as little as $1. From there, you can browse available markets, choose a contract that aligns with your view, and buy either the Yes or No side. Contracts can be held to settlement or sold before the event concludes if your position has moved in your favor.
If you are new to this type of trading, it is worth spending time on markets you know well before branching out. The pricing mechanics are intuitive once you understand that the price equals probability — a contract at $0.35 means the market gives the event a 35% chance of occurring. As with any form of financial trading, it is prudent to start small, understand the fee structure, and never put more capital at risk than you can afford to lose.
We cover the prediction markets space in depth across two main sections. Our prediction market reviews break down the leading platforms so you can make an informed choice about where to trade. Our prediction market promotions section covers the latest sign-up bonuses and promo codes available to new users. Start with the Kalshi review for a comprehensive look at the top regulated platform in the US market.
