Prediction market volume hit $63.5 billion in 2025, up from $15.8 billion the year before, and industry analysts project the space could reach $200 billion to $325 billion in 2026. That growth has pulled in half a dozen new apps chasing the same traders, which makes picking the right one harder than it sounds. Fee structures differ by an order of magnitude, legal availability varies state by state, and a platform that's great for NFL parlays might be useless for tracking a Fed rate decision.
This ranking evaluates the best prediction market app options on five criteria: liquidity and open interest, fee transparency, regulatory status, market breadth, and mobile execution quality. We pulled from February 2026 volume data, current fee schedules, and hands-on testing across each app. Polymarket and Kalshi combined account for roughly 97.5% of total industry volume, so they anchor this list, but the smaller apps below each solve a specific problem better than the giants do.
If you're new to how any of this works mechanically — how contracts settle, how odds translate to implied probability, how orders get matched — start with our guide on how prediction markets work before committing capital anywhere on this list.
Polymarket: Best Overall for Volume and Market Selection
Polymarket processed roughly $7 billion in monthly volume as of February 2026, with open interest sitting around $400 million. It's the platform most traders mean when they say "prediction markets," and its Brier scores — a measure of forecast accuracy — sit near 0.09, translating to better than 94% directional accuracy on resolved markets. The platform runs on USDC over Polygon, which means near-instant settlement but also means you're managing a crypto wallet, not a bank account.
The fee structure changed materially on March 30, 2026. Taker fees now range from 0.75% to 1.80% depending on market category, while maker orders remain free and earn rebates of 20% to 50% depending on volume tier. That's a meaningful shift from the flat-fee era, and it rewards limit-order traders over market-order traders more than it used to. Polymarket also acquired QCEX for $112 million in late 2025 specifically to obtain a CFTC derivatives license, and ICE has invested up to $2 billion in the platform — both signs it's positioning for full US regulatory legitimacy rather than staying offshore-adjacent.
Where it doesn't shine: balances earn 0% interest, and legal access still varies by state — see our breakdown of where Polymarket is legal before funding an account. Depositing requires converting to USDC first; our Polymarket deposit guide walks through the fastest routes. For a full breakdown of the platform's fee mechanics, read our Polymarket fees explained piece. Rating: 4.5/5. Full review: Polymarket Review 2026.
| Metric | Detail |
|---|---|
| Monthly volume | ~$7B (Feb 2026) |
| Fees | 0.75-1.80% taker, free maker + rebates |
| Settlement | USDC on Polygon |
| Rating | 4.5/5 |
Kalshi: Best for US-Regulated Trading
Kalshi outpaced Polymarket in raw monthly volume in February 2026, hitting roughly $9.8 billion against Polymarket's $7 billion, and it did it as a CFTC-regulated Designated Contract Market — no offshore workaround required. That regulatory clarity is the entire pitch. Kalshi is legally available in 40-plus states, settles in US dollars, and issues 1099-MISC forms, which actually simplifies your tax filing compared to Polymarket, which issues nothing globally. See our prediction market tax guide for what that distinction means at filing time.
Kalshi's fee model runs on a variable per-contract basis, averaging around $0.02 per contract but scaling with market depth and time to expiration — it's genuinely more complex to estimate upfront than Polymarket's percentage model. Our Kalshi fees explained breakdown does the math across common trade sizes. Idle cash on the platform earns roughly 4% APY, which beats Polymarket's 0% by a wide margin if you're holding capital between trades.
The company raised $1 billion in a Series E round in December 2025 at an $11 billion valuation, and both Kalshi and Polymarket are reportedly seeking $20 billion valuations in their next rounds — a sign institutional money is betting big on this sector staying regulated and growing. The catch: Kalshi faced criminal charges filed by Arizona on March 18, 2026, and courts in Nevada, Massachusetts, Maryland, and Ohio have ruled against its state-level operations even as Tennessee ruled in its favor. Depositing works differently than crypto-native platforms; our Kalshi deposit guide covers ACH and debit options. Rating: 4.3/5. Full review: Kalshi Review 2026.
| Metric | Detail |
|---|---|
| Monthly volume | ~$9.8B (Feb 2026) |
| Fees | ~$0.02/contract, variable |
| Idle cash yield | ~4% APY |
| Rating | 4.3/5 |
For a direct side-by-side, our Polymarket vs Kalshi comparison breaks down every category head-to-head, including which one wins on sports markets specifically.
Robinhood: Best for Existing Brokerage Users
Robinhood's prediction markets hub runs on Kalshi's regulatory infrastructure and order book, which means you get Kalshi's legal standing and liquidity through an app you probably already have installed. That's the entire value proposition — zero onboarding friction if you already trade stocks or options on Robinhood. You're not getting a different product; you're getting Kalshi's product with a more familiar interface layered on top.
The downside is exactly what you'd expect from a pass-through model: Robinhood doesn't control the underlying market rules, fee structure, or contract selection, so any changes Kalshi makes flow through automatically. If you want deeper analysis on which one actually serves you better as a primary trading venue, read our Robinhood vs Kalshi comparison. Rating: 4.0/5. Full review: Robinhood Prediction Markets Review.
OG (Crypto.com): Best for Social and Crypto-Native Traders
OG, Crypto.com's prediction market product, leans hard into social features — following other traders, seeing live activity feeds, and treating markets more like a social app than a terminal. Margin trading is planned but not yet fully live, which puts it a step behind Polymarket and Kalshi on advanced order types. It's a reasonable entry point if you already hold a Crypto.com account and want to dip into prediction markets without opening a new wallet or brokerage.
Volume and open interest here trail the two leaders by a wide margin, and market breadth is noticeably thinner outside of crypto and sports categories. If copytrading and following other traders' positions matters to you, this overlaps with strategies covered in our copytrading on Polymarket guide, even though the mechanics differ platform to platform. Rating: 3.8/5. Full review: OG Review 2026.
Opinion: Best for Macro and Economic Data Traders
Opinion carved out a niche in macro-focused contracts — inflation prints, Fed decisions, GDP releases — rather than trying to compete on sports volume. If your trading thesis revolves around economic data releases rather than game outcomes, this is a more focused tool than a generalist app cluttered with thousands of sports markets. The tradeoff is obvious: total volume and liquidity are a fraction of what Polymarket or Kalshi offer, so slippage on larger positions is a real concern.
This is a specialist tool, not a daily driver, and it works best as a supplement to a Polymarket or Kalshi account rather than a replacement. Rating: 3.5/5. Full review: Opinion Review 2026.
Predict.fun: Best for Zero-Fee Crypto Trading
Predict.fun runs on BNB Chain and markets itself on zero trading fees plus yield on posted collateral — you earn a return on capital sitting in open positions, which none of the top-tier platforms currently match. That's a genuinely differentiated offer if you're a crypto-native trader who already holds BNB or stablecoins and wants your collateral working while a position resolves.
The catch is liquidity depth and market count, both meaningfully behind Polymarket. Thinner order books mean wider spreads on anything beyond the most popular contracts, and the platform's overall track record is shorter than its larger competitors. Rating: 3.3/5.
PredictStreet: Rising Challenger for Regulated European Access
PredictStreet holds a Gibraltar license and became an official FIFA World Cup 2026 partner, positioning it as the regulated European alternative to Polymarket's crypto-native model. It's unrated as of this writing since the platform is still in a pre-launch/early-launch phase, but the FIFA partnership guarantees it World Cup-specific market attention through the summer of 2026. For traders specifically targeting World Cup outcomes, our best prediction markets to bet World Cup 2026 guide covers how PredictStreet stacks up against Polymarket and Kalshi for tournament markets, and our direct PredictStreet vs Polymarket comparison goes deeper on licensing and market breadth. Full review: PredictStreet Review 2026.
Other Platforms Worth Watching
FanDuel Predicts and DraftKings Predictions both launched prediction market products aimed at their existing sportsbook user base, betting that customers already comfortable with parlays will migrate naturally to yes/no contracts. Neither has published volume figures competitive with the top five above, and both face the same state-by-state legal patchwork that's slowed Kalshi's expansion. If you want the full rundown across every platform, including smaller entrants like Manifold Markets and Pascal, our every prediction market reviewed roundup is the most complete reference on the site.
Master Comparison Table
| App | Monthly Volume | Fees | Regulation | Rating |
|---|---|---|---|---|
| Polymarket | ~$7B | 0.75-1.80% taker, free maker | CFTC license via QCEX (pending) | 4.5/5 |
| Kalshi | ~$9.8B | ~$0.02/contract | CFTC-regulated DCM | 4.3/5 |
| Robinhood | Powered by Kalshi | Same as Kalshi | CFTC via Kalshi | 4.0/5 |
| OG (Crypto.com) | Below top 2 | Standard crypto fees | Varies by jurisdiction | 3.8/5 |
| Opinion | Niche/macro focus | Standard | Varies | 3.5/5 |
| Predict.fun | Below top 2 | Zero fees | Crypto-native, BNB Chain | 3.3/5 |
| PredictStreet | Pre-launch | TBD | Gibraltar licensed | Unrated |
How to Choose the Best Prediction Market App for You
If you want maximum liquidity and the broadest market catalog, use Polymarket — it's still the deepest order book for anything outside pure US-regulated sports and politics. If regulatory certainty and easy tax reporting matter more to you than raw market count, Kalshi's CFTC status and 1099-MISC issuance make it the safer long-term home for US-based capital.
If you already trade on Robinhood and don't want to manage a second account, its Kalshi-powered hub removes that friction entirely. Sports-focused traders specifically should read our best prediction markets for sports betting guide, since sports contracts now make up more than 80% of total industry volume and the winner-by-category answer differs from the general-purpose ranking above. And if you're weighing prediction markets against a traditional sportsbook account altogether, our prediction markets vs sports betting comparison covers the structural differences in odds, fees, and legality.
Serious traders running strategies across multiple venues shouldn't limit themselves to one app. Our guide on how to arbitrage prediction markets between Polymarket and Kalshi covers exactly why running both accounts in parallel beats picking a single winner. Legality remains the deciding factor for many traders regardless of preference — check our state-by-state legal map and our broader guide on whether prediction markets are legal in the US before funding any account listed here.
Frequently Asked Questions
What is the best prediction market app overall?
Polymarket ranks highest for overall volume and market breadth, with roughly $7 billion in monthly volume and the widest catalog of active contracts. Kalshi is a close second and arguably the better choice if US regulatory clarity matters more to you than raw market variety. See our full Polymarket review for the complete breakdown.
Is Kalshi better than Polymarket for US traders?
Kalshi is CFTC-regulated, issues 1099-MISC tax forms, and settles in US dollars, making it the more straightforward option for US-based traders. Polymarket offers deeper liquidity and a broader market catalog but currently issues no tax forms and requires managing USDC on Polygon. Our Polymarket vs Kalshi comparison covers every category head-to-head.
Which prediction market app has the lowest fees?
Predict.fun advertises zero trading fees, though its liquidity is significantly thinner than Polymarket or Kalshi. Among the top two platforms, Polymarket's maker orders are free with rebates up to 50%, while Kalshi charges roughly $0.02 per contract on a variable schedule detailed in our Kalshi fees guide.
Are prediction market apps legal in the US?
Legality varies by state and by platform. Kalshi operates as a federally regulated DCM available in 40-plus states, though Arizona filed criminal charges in March 2026 and courts in Nevada, Massachusetts, Maryland, and Ohio have ruled against it. Our are prediction markets legal in the US guide covers the current state-by-state picture.
Do I have to pay taxes on prediction market winnings?
Yes, winnings are taxable income even though the IRS has issued zero formal guidance on how prediction market contracts should be classified. Kalshi issues 1099-MISC forms while Polymarket issues nothing, leaving self-reporting as your responsibility either way. Our prediction market tax guide covers the three possible tax treatments and the new 90% gambling loss cap starting tax year 2026.
Can I use both Polymarket and Kalshi at the same time?
Yes, and many active traders do exactly that to compare pricing and capture arbitrage opportunities across platforms. Our guide on how to arbitrage prediction markets covers how to identify price discrepancies between the two order books.
Is Robinhood's prediction market the same as Kalshi?
Robinhood's prediction hub is powered by Kalshi's order book and regulatory infrastructure, so the underlying contracts and legal status are identical. The difference is purely the interface and account integration with your existing Robinhood brokerage. See our Robinhood vs Kalshi breakdown for specifics.
What's the best prediction market app for sports betting?
Kalshi currently leads on sports volume among CFTC-regulated platforms, while Polymarket offers broader international sports market coverage. Our dedicated best prediction markets for sports betting guide ranks all major platforms specifically on sports market depth and pricing.
