Best Prediction Markets: State-by-State Rankings
We rank every major prediction market platform on liquidity, regulation, fees, and user experience: then break it down by US state so you know exactly which are legal and which are accessible where you live.
Featured Apps
Last verified April 17, 2026 ✓Top prediction market promos
Last verified April 17, 2026 ✓- ✓ Legal event trading in all 50 states
- ✓ CFTC-regulated designated contract market
- ✓ Best-in-class mobile app for event contracts
- ✓ World's largest prediction market by 24h volume
- ✓ Lowest spreads on politics, crypto, and sports
- ✓ Thousands of live markets: deep liquidity
- ✓ Openly available to every US state
- ✓ Long-running platform (since 2014)
- ✓ Great for small-stakes politics trading
- ✓ No KYC, no deposit: 100% free
- ✓ Create your own prediction markets
- ✓ Active forecaster community (200K+ users)
- ✓ Quick and secure withdrawals
- ✓ Wide selection of DFS contests
- ✓ Prediction-market-style pick'em in 30+ states
- ✓ Peer-to-peer pricing: no vig
- ✓ Wide variety of sports event contracts
- ✓ No sportsbook-style limits or bans
See our detailed weighted ranking (regulation, liquidity, fees, UX) ↓
The 6 best prediction markets for US traders: ranked
Updated April 17, 2026Pick your state
51 jurisdictions · updated monthlyHow we rank prediction markets
Our ranking weights four factors. Regulation (35%): we favor platforms formally designated by a federal regulator (CFTC) or otherwise covered by a clear legal framework. Liquidity (25%): thin markets mean wide spreads; we measure 24-hour turnover per headline contract. Fees (20%): taker fees, withdrawal fees, and implicit spread costs. UX & trust (20%): account funding, KYC friction, mobile app quality, customer support, and incident history.
We re-score all platforms every 30 days and note state-specific legal shifts within 72 hours of a regulatory action.
State legal status, at a glance
Prediction markets in the US operate under a federal framework set by the Commodity Futures Trading Commission (CFTC). Kalshi, as a designated contract market, is available to residents of every US state for most event contracts. A handful of states: notably Nevada, New Jersey, and New York: have issued challenges against specific categories of Kalshi contracts (primarily sports). Polymarket operates on the Polygon blockchain and is technically restricted for US residents; enforcement varies by state and platform self-geofencing.
None of this is legal advice. Consult local counsel before depositing real money. See our full disclaimer.
Prediction markets vs. sportsbooks
Prediction markets and sportsbooks look similar but are structurally different products. Sportsbooks are the house: they set a line and take the other side of your trade, with the implicit “vig” baked into the odds. Prediction markets are exchanges: you trade against other users at a price you both agree to, and the exchange takes a small fee or spread.
The practical effect: prediction markets almost always have tighter spreads on high-volume contracts, they don’t ban winning traders, and they pay out based on an objective outcome (a named source) rather than a book’s grading discretion. The trade-off is that thin markets can have wide spreads and prediction markets typically focus on event outcomes (elections, macro, entertainment) rather than live in-play markets.
FAQ
Are prediction markets legal in the United States?
Yes, for CFTC-regulated contracts on designated contract markets. Kalshi is the dominant regulated venue. Unregulated offshore markets exist (e.g., Polymarket) but are technically restricted for US residents.
What’s the difference between Kalshi and Polymarket?
Kalshi is a US-regulated exchange using US dollars; Polymarket is an on-chain market using USDC on Polygon and is broadly restricted to non-US users. See our full Kalshi vs. Polymarket comparison.
Do I need a crypto wallet to use prediction markets?
No. Kalshi and PredictIt both accept US dollars via ACH or debit card. Only Polymarket and other on-chain markets require a wallet.