Best Prediction Market Apps: Wager with Real-Time Data December 2025

What are prediction market apps?

Prediction market apps are a bit like a cross between a sportsbook and a stock trading platform. Instead of betting against the house, you buy contracts for a certain price in hopes they will resolve in a certain way. For example, on Robinhood Sports, if you back a team with a 33% chance to win, then you're buying a 33-cent prediction contract. If that team wins, you'll win $1 (of which $0.67 is profit) for every contract you own.

What really differentiates prediction market apps from sportsbooks is that you're not playing against the house; you're playing against other users. So your 33-cent contracts are matched directly with other 67-cent contracts, completing the full $ 1-per-contract payout.

Because of how these sites work, contract purchase prices tend to fluctuate significantly. They can be heavily based on analysis from other sites that track the best sports picks and betting odds. Therefore, you may be able to get better deals from a prediction market than you would get at a regular sportsbook.

Best prediction market apps reviewed

The number of prediction market apps continues to increase. Now, big-name sportsbook operators are getting involved. In early December, the Fanatics Markets promo code launched. The DraftKings predicts promo code and the FanDuel predicts promo code are coming soon as well. 

Below, we dive into the best prediction market apps available now.

Kalshi 🟢

Kalshi is a federally regulated platform, offering event-based prediction markets and more. It is available in most U.S. states and D.C., making it one of the most accessible prediction market sites.

Restricted states: AR, AZ, IL, MD, MA, MI, MT, NJ, NV, and OH

The Securities and Exchange Commission (SEC) doesn't officially recognize Kalshi, but the platform can operate under the Commodity Futures Trading Commission (CFTC).

When using Kalshi, sports enthusiasts will be asked to purchase a contract. For example, you may be able to buy a contract for the New England Patriots to defeat the Buffalo Bills. Each contract could cost, for example, $0.55. Let's say you buy 10 contracts, spending $5.50. If the Pats win, you'll see your 10 contracts fulfilled at $1 apiece, netting you $4.50 in profit. 

Kalshi has an excellent user interface, plenty of non-sporting events, and high limits, but it doesn't have much to offer in bonuses aside form the welcome bonus provided by the Kalshi promo code. That said, Kalshi's availability makes it a great choice for users both in and out of states with legal sportsbooks.

Robinhood 🏹

As of April 1, Robinhood is legal in all 50 US states, giving it a slight edge over Kalshi. The platform is certified by the CFTC and is a member of the Securities Investor Protection Corporation (SPIC) and Financial Industry Regulatory Authority (FINRA). 

Robinhood has been available since 2014, and it has a stellar history with financial trading. As of 2025, over 25 million funded account holders used the site.

Robinhood started to attract users with a "Trade Your Bracket" promo during the 2025 NCAA Tournament. This allowed users to buy contracts on teams to win certain matchups. Users also had the option to buy futures contracts, such as Yes or No, on a team to make the Final Four or win the national championship.

While Robinhood is new in this space and has yet to release any sports other than college basketball, the site's history leads us to believe it's just a matter of time before they start offering contracts for other sports. Because of its pristine history in financial trading, Robinhood provides prediction markets that are worth trusting in the future. Check out our Robinhood promo code page for more information.

Crypto.com 🪙

Crypto.com is regulated in most U.S. states. The site follows a similar format to Robinhood Sports, but with many more options.

Restricted states: AZ, AR, IL, MA, MI, MD, NV, and OH.

Right now, players can make predictions on the NBA, NHL, and European soccer leagues. The format is the same as Kalshi and Robinhood Sports. Players will buy 'Yes' or 'No' contracts at a certain price, hoping to turn them into a profit.

In late November, the L.A. Rams were trading at 18% to win the Pro Football Championship. That means each 'Yes' contract would cost $0.18 and pay out $1.00 if the Rams were to lift the Lombardi Trophy in February. Buying 100 contracts would cost $18 and pay out $100. On traditional sportsbooks, an $18 futures wager on the Rams pays out roughly $90 total. 

Crypto.com allows users to make purchases with 400+ cryptocurrencies and fiat currency options, making it one of the most accessible apps in the industry. For more information, head over to our Crypto.com promo code page.

Polymarket 📈

Polymarket has not been legal in the United States for a few years now, following a legal settlement with the CFTC. However, the platform has remained up and running in other parts of the world, gaining plenty of momentum in some countries in Europe. 

In mid-2025, Polymarket acquired a CFTC-licensed derivatives exchange called QCEX. Then, in late November, the CFTC issued Polymarket an Amended Order of Designation, paving the way for the platform to be once again regulated in the U.S. 

The brand now seemed poised to return to the U.S. marketplace as a full-fledged prediction market app, ready to compete with the likes of Kalshi and Robinhood. 

When it does finally launch stateside, you'll find it offers a huge variety of prediction markets, ranging from politics and culture to crypto and sports. Much like Kalshi, you can make predictions on almost anything with Polymarket.

Polymarket accounts can be funded with cryptocurrency or regular fiat currencies. Rumors are circulating that the brand could launch in the United States before the end of 2025. See the Polymarket promo code for more info.

How to choose the best prediction market apps

Choosing the best prediction market apps can be the difference between a big win and terrible odds. Because of the way these sites operate, there are often massive discrepancies between what is being offered compared to what is being offered at a typical sportsbook.

For example, during the 2025 NCAA Tournament, the Alabama Crimson Tide were favored over the BYU Cougars in the Sweet 16. The Cougars were +170 to win at most major sportsbooks, but their contracts cost 33 cents on Robinhood Sports. This meant that if you spent $1, you could win $3, but if you spent $1 at a sportsbook, you'd only win $1.70.

Be sure to review all of these potential discrepancies, as well as availability of markets and more when picking the best site for you.

How to sign up with prediction market apps

Signing up for a prediction market apps follows similar steps to signing up for a sportsbook. You'll need to provide personal information, such as your name, birth date, address, and in many cases, your social security number. 

Kalshi is strictly dedicated to prediction markets, so once you sign up, the process is over. However, Robinhood Sports does require a few extra steps, because the app itself is dedicated to financial investing. To make predictions on sporting events, you'll need to sign up, then either enable options trading or margin investing to buy contracts.

How does sports event trading work?

Event trading isn't all that different from wagering at a sportsbook. However, instead of wagering against the house, you're buying contracts for certain predictions against contracts bought by other users. 

You can buy Yes or No contracts for head-to-head matchups or for futures. For example, let's say you thought the Florida Gators were going to win the 2025 NCAA Tournament. You could have bought a Yes contract for 35 cents. After they won the title, you would have received $1 for every 35-cent contract you owned. More simply, a wager of $35 would have earned you $100, the equivalent of wagering $35 on Florida to win at odds of about +186 at a sportsbook.

What is most compelling about futures predictions on event trading apps is that you can also bet No. So if you thought Florida was going to win the national title, then you could bet on every other team to lose the national title. You're unlikely to win much if a team doesn't win the national title, but this still provides an opportunity you won't find at traditional sportsbooks.

Are prediction market apps legal?

Kalshi, Robinhood Sports, and Crypto.com Sports are all legal in the United States. However, there is a small (but growing) number of restricted states for each platform, as state gaming regulators fight back to protect their licensed sports betting revenue. 

More states are filing lawsuits against prediction market platforms, and there have been discussions across the country about whether they should be legal.

Yet, while the obscure nature of prediction market sites may give some the impression that they operate in a strange grey area, all operate under the oversight of the Commodity Futures Trading Commission and are legal in most states not actively fighting them.

Interestingly, Polymarket has blocked access in the U.S., despite claiming to be "the world's largest prediction market." This is due to an ongoing dispute with the CFTC, which has accused the company of running an unregistered derivatives-trading platform. However, given that the president's son is now on the company's advisory board, it feels like only a matter of time before Americans can legally use a Polymarket promo code.

Free vs. paid prediction market apps

All prediction market apps require you to deposit and make purchases to use them. While Kalshi does offer a modest $10 sign-up bonus, it can only be activated after purchasing 100 contracts. 

You won't find a true no deposit bonus at any of these sites. After all, you're not placing bets against the house, so bonus bets aren't being distributed as a way to get you to sign up. Instead, you're purchasing contracts from other investors.

The role of AI and data analysis in sports betting

All prediction market sites allow you to see which contracts have been purchased in the past. Let's say you discover that the Los Angeles Lakers are trading at 10% to win the NBA championship at Crypto.com Sports, but you feel like that is expensive, you can look through past trades that made the contract increase by so much. This will allow you to see if there has been steady support or if the latest development was just a blip.

Kalshi also offers API technology that you can use to make trading decision. This technology provides AI-driven information, which you can use to in tandem with your own knowledge to make educated contract purchases.

How prediction market app models work

Prediction market models take everything into account, from recent team performance, past history for certain players against their upcoming opponent, and even the weather. Prediction models will take all of this information and then cycle through thousands of simulations to help bettors make educated wagers or trades.

These models can be very helpful before visiting a prediction market site, as they can help you understand what key piece of information the public may be missing to make their decision. This can give you a significant advantage when purchasing contracts against other bettors.

Prediction market apps vs. traditional sportsbooks

Prediction market apps and traditional sportsbooks operate in a similar fashion. At both, you will deposit money and predict that something will happen. If it does, then you will earn winnings.

The benefits of traditional sportsbooks are as follows:

• More sports betting options
• Lucrative bonuses

The benefits of prediction market sites are:

• Widely available in the U.S., with limited locations off-limits
• More betting options outside of sports
• Odds can be considerably better than those offered at sportsbooks, especially for underdogs
• Not playing against the house

The biggest downside to prediction market sites is how limited they are in what they can offer for sporting events. Major sportsbooks will have much more options, including alt lines, player props, and more, which prediction market sites simply cannot offer.

Recent prediction market updates

Here's a roundup of the latest news concerning prediction markets in the United States:

December 2025

-The Connecticut Department of Consumer Protection announces a trio of Cease and Desist orders against Kalshi, Robinhood, and Crypto.com, accusing them all of engaging in unlawful online gambling. 

-Fanatics launches a prediction market platform in 24 states, including California, Texas, Florida, and Washington. Fanatics Market will roll out slowly over the next few days, starting in just 10 states, and will offer contracts for crypto, stocks, tech, music, and more.

-Polymarket returns to the U.S. market with a limited rollout, letting potential users join a waitlist that will send invite codes on a gradual basis. 

-Kalsi and CNN announce a partnership deal that will see the news network show prediction data from Kalshi across its TV and online platforms. 

-Kalshi and Polymarket combined to record nearly $10 billion in trading volume in November. 

-Polymarket CEO Shayne Coplan appears on 60 Minutes, calling his platform the "most accurate thing we have as mankind right now," in terms of predicting future outcomes. 

November 2025

-Kalshi's valuation jumps to an estimated $11 billion after raising another $1 billion in a new round of funding.   

-Robinhood agrees to temporarily suspend sports prediction contracts in Nevada, pending further litigation between itself and the Nevada Gaming Control Board. 

-Kalsi is hit with a nationwide class action lawsuit in the Southern District of New York, alleging the company operates an illegal sportsbook and "dupes" customers into believing they are playing against each other instead of against the house. 

-Robinhood announces a new joint venture with Susquehanna International Group to build a new futures and derivatives exchange.   

-NHL Commissioner Gary Bettman insists the league has the authority to instruct Kalshi or Polymarket to take down any event contracts it deems inappropriate. 

-Robinhood acquires LedgerX in an effort to expand its prediction market offerings. 

-Galaxy Digital, a firm traditionally focused on crypto infrastructure for institutional clients, is in active discussions with Kalshi and Polymarket about becoming a liquidity provider for the prediction contract platforms.

-Kalshi is dealt a legal setback in Nevada, as Judge Andrew Gordon issued a decision to dissolve a previous preliminary injunction against state gaming regulators. Kalshi immediately filed new legal arguments but may have to stop doing business in Nevada while its legal situation is sorted out. 

-Polymarket announces that the CFTC has issued an Amended Order of Designation, opening the door for the platform to return to the U.S. marketplace.

-Fanatics CEO Michael Rubin reveals the company plans to launch its own prediction market "within the next couple of weeks." 

-Polymarket CEO Shayne Coplan calls state-licensed sportsbooks "a scam" in the latest round of verbal sparring between prediction market contract platforms and traditional sports betting sites. 

-Kalshi successfully defends against a preliminary injunction lawsuit from a trio of California Native Tribes, who are trying to get the prediction market platform banned in the state.   

-FanDuel becomes the latest sportsbook to expand into prediction markets, announcing it will launch FanDuel Predicts in December. The sports event contracts app will be available in states without legal sportsbooks.

-The prolonged U.S. government shutdown comes to an end, paving the way for Polymarket to finally relaunch in the United States.

-PrizePicks, a daily fantasy sports (DFS) platform, partners with Polymarket to offer event contracts on sports, entertainment, and more, once Polymarket relaunches in the United States.  

-Kalshi successfully defends against a preliminary injunction lawsuit from a trio of California Native Tribes, who are trying to get the prediction market platform banned in the state. 

-Kalshi and Robinhood move to dismiss a lawsuit from three California native tribes, which alleges that the prediction market companies should be declared illegal gambling under the Indian Gaming Regulatory Act (IGRA).

-Google announces it will include prediction market data from Kalshi and Polymarket directly in its Google Finance section, alongside other stock market and trading information. 

-DraftKings confirms plans to launch 'DraftKings Predictions' platform "in the coming months," CEO Jason Robins announced Thursday. DraftKings says it plans to accept sports event contracts in states where it doesn't offer its sportsbook, such as California, Florida, and Texas.

-Kalshi alters an online job posting for a "sports operations" position to remove multiple references to sportsbooks, as the debate surrounding the legality of predicting sports outcomes on the platform remains a hot topic.   

-Coinbase CEO Brian Armstrong goes viral by randomly mentioning five words (Bitcoin, Ethereum, Blockchain, Staking, and Web3) in an earnings call. The words had nothing to do with Coinbase's results, but were all offered on Prediction Markets, resulting in 'Yes' resolutions for anyone who predicted those words would be said. 

October 2025

-Caesars CEO Tom Reeg says the company will not consider entering the prediction market industry, out of fear it would put their other betting licenses with state regulators at risk.

-The latest forecast has Polymarket returning to the U.S. marketplace before the end of November. However, access could remain limited at first.   

-President Trump names Michael Selig as the next chair of the CFTC, the federal agency that is in charge of overseeing prediction market trading apps. 

-Truth Social, the Donald Trump social media platform, announces plans to enter the prediction markets business through an exclusive arrangement with Crypto.com.

-Crypto.com suspends its sports event contracts in Nevada, pending the resolution of an ongoing legal battle with the Nevada Gaming Control Board.

-DraftKings announces the acquisition of Railbird Technologies, a federally licensed exchange with a CFTC license, with plans to launch a DraftKings-branded prediction market trading app in the first half of 2026.  

-Despite still not being available in the United States, Polymarket retakes the lead from Kalshi in total weekly trading volume. Polymarket hit $1 billion in trading last week, while Kalshi finished a close second with $950 million.   

-The NHL announces a new multiyear deal with Polymarket and Kalshi, naming both as official prediction market partners of the NHL. As part of the deal, Polymarket and Kalshi will have access to official NHL proprietary data and rights to use NHL marks, logos, and official designations on their platforms.

-Kalshi's launch of NFL Parlay predictions seemed like a big deal, but they have attracted very little trading volume so far. The new markets only saw $6 million in activity the week they debuted, which rose modestly to $10.1 million the following week.   

-Nevada lawmakers warn sports betting operators that getting involved with prediction markets could come with consequences, including having their Nevada betting license suspended. 

-The state of Massachusetts files a formal brief opposing Robinhood's motion for a preliminary injunction over the right to operate its prediction market app in the state.   

-Norwegian officials are investigating potential insider trading after multiple last-minute winning trades were made on Polymarket for the Nobel Peace Prize, which Mara Corina Machado, a Venezuelan opposition leader, ultimately won. 

-Kalshi closes a Series D funcing round of over $300 million at a $5 billion valuation, led by Sequoia and Andreessen Horowitz. Kalshi is now available in over 140 countries.

-Polymarket receives a $2 billion investment influx from Intercontinental Exchange (ICE), which puts the company's overall valuation at more than $8 billion.   

-DraftKings CEO Jason Robbins is not threatened by the rise of prediction betting apps like Kalshi, saying their products are not comparable to full-fledged sportsbooks.  

-Kalshi asks a U.S. District Court for an injunction against the Ohio Casino Control Commission, which is claiming Kalshi offers an unlicensed (and therefore illegal) sports betting platform. 

-Polymarket's planned return to the United States is delayed due to the ongoing Federal Government shutdown.

-The Michigan Gaming Control Board warns licensed operators in the state that any involvement with sports-event contracts (prediction contracts) "will have implications relative to your licensure in Michigan."  

-FanDuel and CME Group announce plans to launch a prediction market platform with one-hour contracts. The joint venture is being described as a micro-betting counterpart to short-term financial trading.

-Polymarket puts a notice on its website that it's working hard to re-launch in the United States, telling potential American customers that the brand is "coming home" and "see you soon." No official launch date has been announced yet, though. 

-Kalshi is preparing to expand its cryptocurrency initiatives, including integrating its prediction market into major crypto exchanges, according to John Wang, Head of Crypto.  

-A group of U.S. Senators demands answers from the CFTC over prediction market platforms accepting event contracts (which they say are identical to sports betting) in states and on tribal lands without legal sports betting laws. 

-Sleeper, an emerging prediction market platform, sues the CFTC over its blocked license application, arguing the decision unfairly benefits Sleeper's competitors and limits growth and competition.