Sports Prediction Markets: How to Trade and Bet on Sports | July 2026
Sports prediction markets let you trade contracts on game outcomes instead of placing a fixed bet against a bookmaker. Prices move with the market rather than a set line, more like a stock than a spread. Kalshi is the main regulated US venue for this, and sports contracts are legal nationwide under federal oversight, with a few state exceptions.
This guide reflects platform availability, fees, and market access as of July 2026, and we revisit it regularly as sports contracts, state rules, and new platforms continue to shift.

What Are Sports Prediction Markets?
Sports prediction markets let you buy and sell contracts tied to a specific game outcome, like which team wins or covers, instead of placing a fixed-odds bet. Each contract’s price reflects the market’s implied probability of that outcome, and it settles at $1 if it happens or $0 if it doesn’t.
These are called event contracts, and each one represents a single yes-or-no proposition, such as “Will the Chiefs win?” or “Will the total go over 47.5?” Contracts trade between $0.01 and $0.99 while the outcome is undecided, and that price moves in real time as traders react to injuries, line movement elsewhere, and game action. A contract trading at $0.65 means the market currently sees a 65% chance of that outcome. Our implied probability calculator breaks down how to convert a contract price into a percentage if you want to check the math yourself.
The other core difference is who is on the other side of your trade. A sportsbook sets the line and takes your bet directly, with the odds built to favor the house over time. A prediction market works more like an exchange: you are trading against other users, not the platform, and the price is whatever the crowd is willing to pay at that moment. That is also why you can exit early. Since contracts trade continuously until settlement, you can sell your position to another trader before the game ends instead of waiting for the final result.
Best Sports Prediction Market Platforms Compared
Not every prediction market treats sports the same way. Some, like Kalshi and Polymarket, run sports contracts alongside politics, economics, and culture. Others, like ProphetX and Novig, are built sports-first from the ground up. Here’s how the top seven compare on regulation, fees, and market depth, followed by a closer look at each.
Polymarket
Polymarket is the largest prediction market exchange by trading volume, and its sports contracts have grown quickly even though the platform’s deepest roots are in politics and current events. New users can use promo code GTODAY, deposit $10, and receive a $20 trading bonus after meeting the offer requirements.
ProphetX
ProphetX is built specifically for sports trading, using a back-and-lay exchange model where you can back an outcome, lay against it, or post your own price instead of accepting a fixed line. New users can use promo code TODAY to trade $10 and unlock $20 in trading bonus.
Crypto.com
Crypto.com brings sports event-contract trading into an app most users already know for its exchange, wallet, and card products, so you’re not managing a separate login just to trade a game outcome. Right now, new users can complete a short in-app task to unlock CRO Rewards worth up to 1 BTC.
DraftKings Predictions
DraftKings Predictions runs sports event-contract trading through DKeX, DraftKings’ own CFTC-regulated exchange, separate from its state-licensed sportsbook. New users can currently claim a welcome offer worth up to $200 in trading bonuses after a qualifying first trade, paid out over 21 days rather than all at once.
FanDuel Predicts
FanDuel Predicts is FanDuel’s standalone prediction market app, giving eligible new users a $25 trading bonus with no promo code required. It runs as its own product apart from FanDuel Sportsbook, letting traders buy and sell event contracts on sports and other real-world outcomes from a dedicated app.
Kalshi
Kalshi is the most established regulated sports prediction market in the US, with contracts covering the NFL, NBA, MLB, NHL, plus soccer, golf, and tennis, running alongside its broader event-contract lineup. The platform operates under CFTC oversight, so sports trades sit under the same federal framework as its economic and political contracts rather than a state-by-state gambling license. New users can currently trade $100 in contracts to unlock a $10 reward using promo code TODAY.
Novig
Novig is a sports-only prediction market that skips per-trade fees entirely, letting traders buy and sell positions on game outcomes, player props, parlays, and futures without a built-in commission eating into the price. New users can currently claim $5 in Novig Cash plus 10% off their first purchase, up to $100, and no promo code is required to unlock it.
Sports Prediction Market Platforms at a Glance
Reading through seven platforms at once is a lot to hold in your head, especially when regulation, fees, and state access all vary by provider. Here’s a side-by-side recap of the same seven platforms above, useful if you already have a favorite in mind and just want to confirm the details, or if you’re weighing two or three against each other before you commit.
Treat this table as a snapshot rather than the final word. Fees, minimum deposits, and state availability shift as platforms adjust their offerings and as state-level legal challenges continue to play out, so it’s worth confirming current terms directly on a platform before funding an account.
| Platform | Regulation Status | Sports Market Depth | US/State Access |
|---|---|---|---|
| 🏛️ Kalshi | CFTC-regulated Designated Contract Market | Broad — NFL, NBA, MLB, NHL, soccer, golf, tennis, alongside non-sports categories | Nationwide; sports contracts face active state-level legal challenges (e.g., New York) |
| 🔷 Polymarket | CFTC-regulated via Polymarket US / Polymarket Clearing | Growing; sports is newer, platform's deepest roots are in politics and current events | Approx. 48 states |
| ⚡ ProphetX | CFTC-regulated | Sports-first exchange; back-and-lay pricing across game lines, props, and futures | All US states except Nevada |
| 🎯 Novig | CFTC-regulated Designated Contract Market | Sports-only; single-game lines, player props, parlays, season futures, live markets | All 50 states |
| 💳 Crypto.com | Various licenses (multi-jurisdiction) | Moderate; sports is one category alongside crypto, finance, and culture contracts | Approx. 48 states plus DC |
| 🏈 DraftKings Predictions | CFTC-regulated (traded through DKeX) | Broad where available, but sports contracts drop entirely in states where DraftKings Sportsbook is licensed | 48 states plus DC; sports limited where DK Sportsbook operates |
| 🦆 FanDuel Predicts | CFTC-regulated | Available nationwide; specific sports contract mix varies by state | All 50 states; market categories vary by location |

Is Trading Sports on Prediction Markets Legal in the US?
Yes, generally. Kalshi, Polymarket, and similar platforms offer sports contracts under CFTC oversight as federally regulated exchanges, not as state-licensed sportsbooks. That federal framework is what lets a single platform offer sports contracts nationwide instead of applying for a license in each state the way a traditional sportsbook has to.
Sports contracts specifically have drawn far more state pushback than these platforms’ other categories, since a contract on who wins a game looks a lot like a sports bet to state gambling regulators. More than a dozen states have sued, investigated, or otherwise challenged sports event contracts since early 2025, and the results have gone both ways. Some courts have sided with the platforms and paused state enforcement pending appeal. Others have sided with the state and blocked sports contracts outright while litigation continues.
Because rulings are landing on a near-weekly basis and can change a state’s status overnight, treat any specific list as a snapshot rather than a permanent answer, and confirm current availability directly on the platform before funding an account.
| State | Status |
|---|---|
| 🎰 Nevada | Sued Kalshi directly over unlicensed sports betting, one of the first states to take action |
| 🗽 New York | Federal court denied Kalshi's bid to block state enforcement (July 2026); AG helped lead a 38-state coalition backing Massachusetts' case |
| 🏙️ Illinois | Federal appeals injunction currently pauses state enforcement pending appeal; a separate new state tax on prediction market transactions is being challenged by Kalshi in court |
| ⚓ Massachusetts | Court injunction bars Kalshi from offering sports contracts to Massachusetts users while litigation continues |
| 🦀 Maryland | Kalshi's injunction request was denied by a district court; appeal pending at the Fourth Circuit |
| 🌰 Ohio | Court denied Kalshi's injunction and ruled its sports contracts qualify as sports betting under state law |
| 🚗 Michigan | Sports contracts temporarily blocked during active litigation; a related suit is also pending against Polymarket |
| 🌵 Arizona | Filed criminal charges against Kalshi; a federal appeals injunction currently pauses further state action pending appeal |
| 💎 Arkansas | No direct suit identified in our research; joined the multi-state amicus brief supporting Massachusetts' case |
| 🎷 Louisiana | No direct suit identified in our research; joined the same multi-state amicus brief |
| Status current as of July 2026. State-level litigation over sports event contracts is moving quickly; confirm current availability directly on the platform before trading. | |
This is one of the fastest-moving corners of the prediction market world. Our Prediction Market News section tracks new rulings and state actions as they happen if you want to stay current between updates here.
How to Trade Sports on a Prediction Market
Once you understand how sports contracts work, actually placing a trade follows a similar process across most platforms. Here's how to go from picking a platform to closing out a position.
Choose Your Platform
Start with a platform that lists the sport and market types you want to trade, whether that’s a broad exchange or a sports-first app. Confirm sports contracts are available in your state before creating an account, since access can vary by platform and by state.
Verify and Fund Your Account
Sign up with your basic details and complete identity verification, a standard step across regulated platforms. Once verified, fund your account using one of the platform’s accepted payment methods, such as a bank transfer, debit card, or credit card. Start with an amount you’re comfortable trading while you learn how the platform works.
Find a Sports Market
Browse contracts by sport, league, or specific game, then review the exact terms of the outcome you’re considering. A contract on “Will the Chiefs win?” settles differently than one on a point spread or a player prop, so confirm exactly what triggers a payout before trading.
Read the Price as a Probability
Every contract’s price reflects the market’s implied probability of that outcome. A contract trading at 55 cents means the market currently sees roughly a 55% chance of that result. Use that price, not just your gut feeling about the game, to judge whether a position looks like good value.
Buy Yes/No or Set a Limit
Decide whether you think the outcome will happen and buy the “Yes” contract, or buy “No” if you don’t. You can also choose how you enter that trade: a market order fills instantly at the current best price, while a limit order lets you name your own price and wait for another trader to match it.
| Order Type | What It Does |
|---|---|
| ⚡ Market Order | Fills instantly at the current best available price. Simple and fast, but you take whatever price is showing at that moment. |
| 🎯 Limit Order | Lets you name the price you're willing to pay for a "Yes" or accept for a "No." It waits in the order book until another trader matches it, giving you more control over your entry price but no guarantee it fills. |
Manage or Exit Your Position
Once you’re in a trade, you don’t have to wait for the game to end. Most platforms let you sell your contract to another trader anytime before settlement, so you can lock in a gain or cut a loss as the price moves. Keep an eye on liquidity, since thinly traded markets can make it harder to exit quickly at a fair price.
Sports Prediction Market Apps
A few more platforms are worth a look if you want to browse beyond the seven covered above, each with its own sports angle worth understanding before you sign up.
Robinhood Prediction Markets puts event-contract trading inside the same app millions already use for stocks and crypto, with sports as one of 13 available categories. Existing users can start trading without a new signup or identity check, and since Robinhood isn’t competing with a sportsbook of its own, sports contracts show up in nearly every state. Trading is mobile-only, and there’s no order book or a bonus built specifically for prediction markets.
OG is a regulated US prediction market covering sports alongside crypto, politics, and culture, built around a simpler market menu and leaderboard-style features aimed at newer traders. New users can currently trade $10 to unlock a matching $10 bonus. Some of OG’s sports markets carry thinner liquidity than more established, sports-first competitors.
Fanatics Markets extends the Fanatics sports and merchandise ecosystem into event-contract trading, with sports as one of its core categories alongside finance and politics. New users can currently trade $75 to unlock $75 in trade credits. The platform is newer than most competitors here, so its sports market depth and liquidity are still developing.
Pariflow is a crypto-funded prediction market covering sports alongside politics, geopolitics, and pop culture, funded exclusively through the Polygon network with deposits converted to USDC.e. A standout demo mode lets traders work through a full sports trade, from entry to settlement, before risking real money, and new users get a 100% deposit match up to $50 automatically. Pariflow isn’t CFTC-regulated, and there’s no bank or card funding option.
Underdog Predict brings sports-only Yes/No contracts, on game winners, spreads, and totals, into the same app many already use for Underdog’s daily fantasy contests, though the two products are legally separate. Contracts settle at $1.00 and operate under federal derivatives oversight through a registered Futures Commission Merchant. Because it’s federally regulated, sports contracts can be available in states where traditional sportsbooks aren’t.

Sports Trading Strategy
Prediction markets reward the same discipline that separates sharp sports bettors from casual ones, plus a few habits specific to how contracts are priced.
Because prices move continuously and vary by platform, checking a contract’s price across a couple of exchanges before you trade works the same way line shopping does at traditional sportsbooks. A few cents of difference on entry adds up over enough trades, and unlike a fixed-odds line, a prediction market price can also move meaningfully between the moment you check it and the moment you trade.
In-play trading is where prediction markets separate most clearly from a standard bet. Since contracts trade continuously until the event ends, you can react to what’s actually happening, an early lead, a key injury, foul trouble, rather than locking in a position before kickoff and waiting for the final result.
Hedging works here too. If a position is moving against you, taking a smaller opposite trade can soften the loss, though it also caps how much you’d make if your original read turns out right. It’s a tool for managing risk, not a way to guarantee a profit.
Fees matter more than they first appear. Even a modest per-trade cost eats into edge over enough trades, so factor fees into your entry price, not just the headline odds. And regardless of strategy, no approach here guarantees a win. Prediction markets reward good judgment more often than luck, but every trade still carries real risk of loss.
Live Sports Markets Right Now
A handful of sports contracts are pulling the heaviest trading volume across the major platforms right now, spanning football, baseball, and soccer. As with any prediction market contract, the price reflects the crowd’s current implied probability, not a final answer, so these numbers will keep moving as each season progresses.
This is a snapshot, not a live, constantly-updating board. Treat it as a starting point rather than the final word, and check the platform directly for a market’s current price before trading, since prices shift continuously and can move meaningfully between updates here.
| Market | Price (Implied Probability) | Platform |
|---|---|---|
| ⚾ MLB World Series Champion 2026 — Los Angeles Dodgers | 29¢ (~29%) | Polymarket |
| 🏈 Super Bowl LXI (2027) Champion — Los Angeles Rams | 11¢ (~11%) | Kalshi |
| ⚽ MLS Cup Winner 2026 — Inter Miami CF | 22¢ (~22%) | Polymarket |
| Source: Polymarket and Kalshi market data as reported in industry coverage, late July 2026. Prices move continuously — confirm current pricing on the platform before trading. | ||
Snapshot as of July 2026. If you’re actually here for something other than sports, our politics prediction markets guide runs the same kind of snapshot for the 2026 midterms and 2028 presidential race.
Sports Prediction Market FAQs
Yes, generally. Sports contracts operate under CFTC oversight as federally regulated exchanges, not state-licensed sportsbooks. That said, several states have sued or investigated platforms like Kalshi over sports contracts specifically, and courts have ruled differently state by state. Check a platform’s current state availability before funding an account, since restrictions can shift quickly.
Sports prediction markets let you buy and sell contracts tied to a game outcome instead of placing a fixed-odds bet. Each one is called an event contract, and its price reflects the market’s implied probability of that outcome, settling at $1 if it happens or $0 if it doesn’t.
Kalshi’s sports contracts operate under CFTC oversight as a federally regulated exchange, not a licensed sportsbook. You buy or sell “Yes” or “No” contracts on a game outcome, with the price reflecting the market’s current odds. Some states have specifically challenged Kalshi’s sports contracts in court.
A traditional sportsbook sets the odds and takes your bet directly, with pricing built to favor the house. A prediction market works more like an exchange instead: you trade against other users, prices move with supply and demand, and you can sell your position before the game ends rather than waiting for the final result.
It depends on the market and the moment. Because Kalshi’s prices move with trader activity rather than a fixed line, they can sometimes offer better value than a sportsbook, and sometimes worse. Comparing the current contract price against a sportsbook’s odds before you trade is the only reliable way to tell.
Kalshi and its regulator, the CFTC, classify sports event contracts as financial derivatives, not gambling. Several state regulators disagree and argue the contracts function the same as a sports bet, which is why multiple states have sued to block them. That legal question is still being decided state by state.
Kalshi, Polymarket, ProphetX, Novig, Crypto.com, DraftKings Predictions, and FanDuel Predicts all list sports contracts, along with Robinhood, OG, Fanatics Markets, Pariflow, and Underdog Predict. Coverage, fees, and state availability vary by platform, so it’s worth comparing a few before committing to one.
Yes, on most platforms. Since contracts trade continuously until an event settles, you can buy or sell a position while a game is in progress, reacting to an injury, a lead change, or a momentum shift instead of only trading before kickoff.
Fees vary by platform and aren’t always published upfront. Some charge a per-trade maker/taker fee, some build costs into the spread between prices, and at least one major sports-first platform advertises no separate trading fee. Check a platform’s fee schedule directly before trading larger amounts.
Responsible Gambling
Sports prediction markets are new enough that a lot of the usual safety habits don’t automatically carry over from sportsbooks, and that gap is worth understanding before you fund an account.
Why This Can Feel Riskier Than It Looks
The “trading” framing is part of the product, not just marketing. Clinicians who treat gambling disorders have reported that patients trading sports contracts on platforms like Kalshi and Polymarket show the same patterns they see in sportsbook cases, even though the accounts feel more like a brokerage than a betting app. Courts have split on this question too. A Massachusetts judge specifically rejected the argument that federal oversight makes these contracts something other than a bet when it comes to consumer protection.
Continuous, in-play trading adds another layer. A sportsbook bet has a clear start and end. A prediction market position doesn’t, since you can re-enter, add to, or chase a losing position in real time while a game is still being played. That structure rewards the same impulse a slot machine does: one more action is always available.
Self-Exclusion Doesn’t Automatically Carry Over
If you’ve self-excluded from a sportsbook, that block does not automatically extend to prediction market platforms, since they’re regulated separately from state gambling systems. This isn’t a hypothetical gap. Reporting on the issue has documented people who self-excluded from sportsbooks and later relapsed through prediction markets specifically because the exclusion didn’t follow them over.
A cross-platform option does exist: Kalshi has partnered with a compliance firm on a self-exclusion tool called SelfExclude, intended to cover multiple prediction market platforms rather than just one account. As of this writing, Kalshi is the only platform fully integrated, with others reportedly in the process of joining. If self-exclusion matters to you, don’t assume it’s automatic. Ask a platform directly what its exclusion tools actually cover before you rely on them.
Before You Trade
A few habits make a real difference here:
- Set your budget before you open the app, not during a game. Decide what you’re willing to lose in advance, when you’re not watching your position move in real time.
- Decide your exit before you enter. A price target for selling, win or lose, is easier to set in a calm moment than mid-game.
- Treat “one more trade” as a warning sign, not a strategy. Continuous trading means there’s always another action available. That’s a feature of the product, not a signal you’re due for a win.
- Don’t use trading language to talk yourself out of a red flag. Chasing a loss is chasing a loss, whether you call it betting or trading.
Get Help
If trading stops feeling like something you’re choosing to do, help is available: call 1-800-GAMBLER or visit our responsible gambling resources. You must be 18 or older to trade on the platforms covered on this page.