Sports prediction markets have gone from a niche curiosity to a multi-billion-dollar industry in under two years. The Super Bowl alone generated over $1 billion in prediction market volume on Kalshi in 2026, and March Madness was the most-traded event on several platforms in the spring. And unlike traditional sportsbooks, prediction markets are federally regulated and available in most states, including states where legal sports betting doesn't exist.
But not all prediction market platforms are equal for sports. Some have deep liquidity and broad sport coverage. Others are still catching up. Fees vary wildly. And the regulatory landscape is changing monthly. We've traded on every major platform and ranked them based on what actually matters for sports traders: market selection, liquidity, fees, execution quality, and user experience.
Quick Comparison: Sports Prediction Markets Ranked
| Rank | Platform | Best for | Sports fee per contract | Sports covered | Parlays | Limit orders | Available states |
|---|---|---|---|---|---|---|---|
| 1 | Kalshi | Deepest sports catalog, overall leader | Variable, max ~$0.02 | NFL, NBA, NCAAB, NHL, MLB, soccer, tennis, golf, UFC, esports | Yes | Yes | 40+ states (sports restricted in some) |
| 2 | Robinhood | Easiest onboarding, simple flat fee | $0.02 ($0.01 commission + $0.01 exchange) | NFL, NBA, NCAAB, NHL, MLB, UFC, soccer, esports | Yes (preset + custom) | Yes | Most states (sports restricted in some) |
| 3 | OG (Crypto.com) | Social features, props depth | $0.02 to open; $0.02 to close early | NFL, NBA, NCAAB, NHL, soccer, tennis, golf, UFC, F1 | Yes | No | Most states (sports restricted in some) |
| 4 | Polymarket | API traders, political crossover | Variable, max ~$0.02 (US app) | NFL, NBA, NCAAB, NHL, soccer, esports | Yes (US app) | Yes | US app in most states |
| 5 | DraftKings Predictions | DraftKings ecosystem users | Flat one-cent fee at launch | NFL, NBA, NHL, MLB | Limited | No | 38 states plus DC at launch |
| 6 | FanDuel Predicts | FanDuel ecosystem users | About 1¢ per $1 traded | NFL, NBA, NHL | Limited | No | Nationwide since February 2026 (sports in fewer states) |
How We Ranked These Platforms
Every platform on this list is CFTC-regulated or operates through a CFTC-licensed exchange. We didn't consider unregulated or offshore platforms. Within that field, we evaluated five criteria specific to sports trading: the breadth and depth of sports markets available, the liquidity on game-day contracts, the fee structure for typical sports trades, the quality of execution (order types, speed, live trading), and the overall user experience on mobile.
1. Kalshi — The Sports Prediction Market Leader
Kalshi is the dominant platform for sports prediction trading in 2026. No other platform matches its combination of market breadth, liquidity depth, and trading infrastructure for sports.
Why Kalshi Ranks First
Sports now generates approximately 90% of Kalshi's revenue. The platform processed $22.88 billion in total trading volume in 2025, with sports driving the overwhelming majority. College basketball became the most-traded sport on Kalshi during February 2026 as March Madness approached, after NFL season powered record volumes in the fall.
The sports catalog is comprehensive. Kalshi covers NFL, NBA, NCAAB, NHL, MLB, soccer, tennis, golf, UFC, and esports with game winners, spreads, totals, player props, and futures. The "Build Your Combo" parlay feature lets you combine multiple outcomes into a single position. For anyone coming from traditional sports betting, the contract format feels immediately familiar — the key difference is that you're trading on an exchange rather than against a house.
Kalshi also supports both market orders and limit orders. Limit orders (which Kalshi calls "maker" orders) get lower fees, incentivizing users to add liquidity. This is a significant advantage over platforms that only offer market orders, because limit orders let you set precise entry and exit prices instead of accepting whatever quote is available.
Fees
Kalshi uses a probability-weighted formula where fees scale with contract price. Fees peak near 50/50 contracts and approach zero at extreme probabilities. The maximum is roughly $0.02 per contract. Taker fees are slightly higher than maker fees.
On a practical level: a $100 position at even odds costs roughly $3.50 in taker fees. At $1,000, it's about $35. That is about the same as on Polymarket's US app and a little less than Robinhood's flat $0.02 per contract.
Key Advantage: Distribution
Kalshi's partnership with Robinhood — which reportedly drives more than half of Kalshi's total volume — gives it distribution that no standalone prediction market can match. Millions of retail investors who already have Robinhood accounts can trade Kalshi's sports contracts without creating a separate account. Kalshi has also partnered with CNN and CNBC for live market data integration, and Google now displays Kalshi odds in search results.
Kalshi also offers a free demo account, which most rivals don't. For sports traders new to the exchange model, this is an excellent way to learn the mechanics risk-free.
What Could Be Better
The mobile app has drawn criticism for occasional freezing, inconsistent price displays, and UI changes that moved useful information off the main screen. Kalshi's team has been responsive to feedback, but app stability remains a work in progress. Its fees are now level with Polymarket's US app, so cost is no longer a reason to pick one over the other.
Bottom Line
If you want the widest sports market selection, deepest liquidity, and most mature trading infrastructure, Kalshi is the clear choice. It's the platform that most closely replicates the sportsbook experience in a prediction market format.
2. Robinhood — The Easiest Way to Start
Robinhood isn't a prediction market — it's a brokerage that integrates prediction market contracts directly into its existing investing app. But for sports trading specifically, that distinction barely matters to the end user.
Why Robinhood Ranks Second
Robinhood's sports prediction markets have become the company's fastest-growing product line by revenue ever, with 11 billion contracts traded by more than 1 million customers since launch. At last count it listed over 1,600 markets across 17 contract categories, with each sport organized into its own section.
The sports coverage is strong. Robinhood offers NFL, NBA, NCAAB, NHL, MLB, UFC, soccer, and even esports markets. Game outcomes, spreads, totals, and player props (touchdowns, passing yards, rebounds, assists, etc.) are all available. The platform recently added preset combos (parlay-equivalent for individual games) and custom combos where you can combine up to 10 outcomes into a single contract.
Limit orders are supported, along with dollar-based trading (so you can enter a position by dollar amount rather than contract count). Live sports scores and real-time updates are displayed alongside active contracts.
Fees
Robinhood charges $0.02 per contract total — $0.01 commission plus $0.01 exchange fee. This is a flat structure that's easy to understand, though Kalshi's own formula is cheaper at every price: it tops out at about $0.0175 per contract at 50¢ and falls toward zero at the extremes.
No deposit fees for standard bank transfers. A 1.75% fee applies if you want instant withdrawal processing.
Key Advantage: Zero Friction Onboarding
If you already have a Robinhood account — and roughly 27 million people do — you can start trading sports contracts in minutes by applying for a derivatives account. No separate platform, no new app, no new deposit. Your existing balance is immediately available. For someone who has never used a prediction market before, this is by far the lowest-friction entry point.
What Could Be Better
Robinhood operates as a broker distributing Kalshi's exchange contracts, though its pending purchase of the MIAXdx exchange could change that. This means liquidity is ultimately Kalshi's liquidity. Robinhood also doesn't offer a demo account, and community features are minimal — there's no equivalent of Polymarket's per-market comment sections or OG's live chat.
Bottom Line
Robinhood is the best choice for anyone who wants to add sports prediction trading to an existing investment platform without the friction of a new account. The fees are simple, the interface is polished, and the combo feature is well-implemented.
3. OG (Crypto.com) — Best Social Experience for Sports
OG launched in February 2026 as Crypto.com's standalone prediction market platform, and it's clearly built with sports traders in mind.
Why OG Ranks Third
OG's sports coverage is strong, with markets across NFL, NBA, NCAAB, NHL, soccer, tennis, golf, UFC, and Formula 1. Where OG distinguishes itself is in the depth of its player props and the social layer built around sports trading.
The props selection goes deeper than many competitors. For major events, OG posts scoring props, game props, and novelty props that open up trading angles beyond the standard moneyline. The parlay feature lets you combine multiple outcomes into a single position.
But OG's real differentiator for sports is the community. Built-in chat lets users discuss active games in real time, share reads, and react to live events. Leaderboards track performance and add a competitive dimension. For sports traders who want the communal experience of watching a game and trading alongside other people, OG is the closest thing to a sports bar with a trading terminal.
The platform also explicitly states that sharp bettors, VIPs, and analytical traders are welcome — and that winners won't be limited or banned. This directly addresses a pain point from traditional sportsbooks.
Fees
OG charges $0.02 per contract to open and $0.02 to close early. If your contract settles correctly (you win), no fee is charged on settlement. This means winning trades effectively cost half what losing trades cost. It's a transparent, easy-to-understand structure that works out about the same as Robinhood for active traders, and a little more than Kalshi or Polymarket's US app.
What Could Be Better
OG doesn't support limit orders — a significant gap for traders who care about precise execution. You can only trade at whatever market price is currently available. The platform also doesn't display trading volume or order book depth on individual markets, making it harder to gauge liquidity before entering a position. And as the newest major platform (launched February 2026), OG's track record is the shortest.
Bottom Line
OG is the best pick for sports traders who value community, social features, and deep props alongside their trading. The interface is clean, the mobile app is polished, and the no-user-limits policy is appealing. The lack of limit orders holds it back from a higher ranking.
4. Polymarket — Best for API and Algorithmic Traders
Polymarket is the world's largest prediction market by total volume, but its sports offering is still catching up to Kalshi's.
Why Polymarket Ranks Fourth for Sports
Polymarket's sports coverage includes NFL, NBA, NCAAB, NHL, soccer, and esports. The markets are there, and liquidity is growing. But compared to Kalshi's catalog — which includes wider sport selection, deeper props, and more granular markets — Polymarket's sports section is narrower.
On cost, Polymarket's US app is now level with Kalshi: takers pay on an almost identical formula, topping out at about $0.0174 per contract at 50¢, makers trade free, and only the highest-volume makers earn rebates. Its global site charges takers 0.75% to 1.80%, but it doesn't take new trades from the US.
Polymarket also supports limit orders, giving traders precise control over entry and exit prices. The order book model rewards patience and allows you to provide liquidity at your own price rather than accepting whatever's available.
Key Advantage: API and Algorithmic Trading
For sports traders who use bots, algorithms, or quantitative models, Polymarket's API infrastructure is significantly more comprehensive than any competitor. Three separate APIs, WebSocket streaming for real-time data, official SDKs, and active developer documentation make it the platform of choice for systematic sports trading.
What Could Be Better
The sports market catalog is narrower than Kalshi's, with fewer sports and prop types, although the US app has added combos. And while the global platform is USDC-based (requiring crypto knowledge), the US platform has simplified onboarding with fiat deposits.
Community features are strong — per-market comments sections and leaderboards — but the sports-specific community is less active than OG's dedicated chat or even Kalshi's growing "Ideas" section.
Bottom Line
If you trade sports through an API or with algorithms, Polymarket's developer tools make it the strongest choice. For casual sports traders who want the widest market selection and simplest onboarding, Kalshi or Robinhood is a better starting point.
5. DraftKings Predictions — For the DraftKings Loyalists
DraftKings launched DraftKings Predictions in December 2025, bringing the world's second-largest sportsbook operator into the prediction market space.
Why It's On This List
DraftKings Predictions launched in 38 states plus DC, including states such as California and Texas where its sportsbook isn't licensed, though access to sports contracts varies by state. The platform covers NFL, NBA, NHL, and MLB, with a focus on game outcomes and basic contract types. For the millions of existing DraftKings users, the prediction market is accessible through the familiar DraftKings ecosystem.
The Catch
The flat one-cent fee is low and simple, but the market catalog is narrower than Kalshi or OG. And the platform is still young — it launched in December 2025, and liquidity and feature depth are still developing.
DraftKings launched with contracts from CME Group and bought Railbird, a CFTC-licensed exchange, to list its own contracts later, giving it the regulatory foundation to grow. But it's competing against platforms with significantly more trading infrastructure and deeper liquidity.
Bottom Line
DraftKings Predictions is a reasonable option if you're already a DraftKings user and want to dip into prediction markets without creating a new account. For serious sports prediction trading, the dedicated platforms offer better value.
6. FanDuel Predicts — Early but Promising
FanDuel partnered with CME Group to launch FanDuel Predicts in December 2025, targeting states where traditional sports betting isn't available.
Why It's On This List
FanDuel is the largest sportsbook operator in the US, and its entry into prediction markets legitimizes the space. FanDuel Predicts offers contracts on NFL, NBA, and NHL outcomes, with pricing driven by market activity rather than house odds.
The Catch
CME's filings with the CFTC put the fee at about one cent per dollar of contracts traded, roughly 1% at typical prices. FanDuel Predicts launched in five states in December 2025 and went nationwide in February 2026, though its sports contracts are available in far fewer states. Market depth and sport coverage are still very limited compared to the top platforms.
Bottom Line
FanDuel Predicts is worth watching as FanDuel scales its prediction market alongside its dominant sportsbook. But it isn't yet a competitive option for sports traders who have access to Kalshi, Robinhood, or Polymarket.
Prediction Markets vs. Traditional Sportsbooks for Sports
If you're coming from DraftKings, FanDuel, BetMGM, or any other sportsbook, the prediction market model has some fundamental differences worth understanding.
You're trading against other users, not the house. At a sportsbook, the operator sets the odds and profits from the built-in margin (vig). On a prediction market exchange, prices are set by supply and demand among traders. There's no house edge — the platform charges a fee on trades instead.
You can sell your position before the event resolves. This is the biggest practical difference. At a sportsbook, once you place a bet, you're locked in until the event ends (cash-out features are limited and operator-controlled). On a prediction market, you can sell your contracts at any time at the current market price. If the line moves in your favor during the first quarter, you can take profit without waiting for the final whistle. Experienced traders also exploit price differences between platforms on the same event.
Prediction markets are available in states where sports betting isn't. Because they're regulated by the CFTC at the federal level rather than by state gaming commissions, prediction markets can operate in states like California, Texas, and Georgia where traditional sportsbooks don't have licenses. This is the single biggest reason sports prediction markets have exploded — they unlocked a massive population of sports fans who had no legal way to participate.
The age requirement is lower. Most sportsbooks require users to be 21+, while Kalshi, Polymarket and Robinhood accept users 18 and older.
Tax treatment may differ. Prediction market winnings are most often reported as ordinary income rather than gambling income, and Kalshi sends an annual profit-and-loss statement rather than a 1099 for trading gains. The tax treatment of prediction markets is still evolving and may change. Consult a tax advisor for guidance specific to your situation.
State Availability: Where Can You Trade Sports?
All major prediction market platforms operate under CFTC federal regulation, which theoretically allows nationwide access. However, several states have challenged sports-specific contracts, and the legal landscape is in flux.
The general picture in 2026 is that sports prediction contracts are available in most US states, with restrictions or bans in specific states depending on the platform. Arizona filed criminal charges against Kalshi in March 2026, and courts in Nevada, Massachusetts, Maryland and Ohio have ruled against its sports contracts, while Tennessee ruled in its favor. Regulators in other states, including Michigan, Illinois and Connecticut, have also moved against sports contracts.
The CFTC, under Chairman Michael Selig, has asserted exclusive federal authority and pledged to fight state enforcement. Congressional legislation that could restrict sports prediction contracts has been introduced but not yet passed.
For traders, the practical advice is to check each platform's current availability page for your specific state. Non-sports contracts (politics, economics, weather, crypto) are generally unaffected by state-level restrictions and available more broadly. Macro-focused platforms like Opinion sidestep the sports fight entirely, though they come with their own availability limits.
How to Choose the Right Platform
The "best" platform depends on your trading style and priorities. Here's a simple decision framework.
You want the widest sports selection and deepest liquidity: Kalshi. No contest for breadth of markets, especially during NFL and NBA season.
You want the easiest possible setup: Robinhood. If you already have an account, you're minutes away from your first sports trade.
You trade through an API: Polymarket. Its developer tools are the most complete.
You want community and social features: OG. Real-time chat, leaderboards, and a sports-first design.
You're already a DraftKings or FanDuel user: Try their prediction markets for convenience, but consider a dedicated platform for better pricing and selection.
You're a total beginner: Start with Kalshi's free demo account to learn the mechanics without risking real money.
Most serious sports prediction traders maintain accounts on two or three platforms. The incremental effort is minimal, and accessing the best liquidity across different platforms and market types is worth it. For a detailed head-to-head between the two biggest platforms, see our Polymarket vs Kalshi comparison.
Frequently Asked Questions (FAQ)
Are sports prediction markets legal?
Yes. Sports prediction markets operate under CFTC federal regulation and are available in most states. However, several states have challenged sports-specific contracts, and restrictions apply in some states. The legal landscape is evolving, with active litigation in multiple states in 2026. For a full breakdown, see our guide on whether prediction markets are legal in the US.
What's the difference between a prediction market and a sportsbook?
At a sportsbook, you bet against the house, which sets the odds and profits from the margin. On a prediction market exchange, you trade contracts with other users at market-driven prices. The platform charges a small fee per trade instead of building margin into the odds. You can also sell your position at any time before the event settles.
Which platform has the lowest fees for sports trading?
For takers, Kalshi and Polymarket's US app now cost about the same: both use a price-based formula that tops out at about $0.0175 per contract at 50¢. Robinhood charges $0.02 per contract flat. For a $1,000 position at even odds (2,000 contracts at 50¢), approximate taker fees are about $35 on Kalshi or Polymarket US and about $40 on Robinhood. Makers trade free on most markets on both, and only the highest-volume makers earn rebates. For a deeper dive into fee structures, see our Polymarket vs Kalshi comparison.
Can I trade sports prediction markets if my state doesn't have legal sports betting?
Yes. Because prediction markets are regulated at the federal level by the CFTC, they're available in states where state-level sports betting isn't legal — including California, Texas, and Georgia. Some individual states have restricted sports-specific contracts, so check your platform's availability page.
Do I need to be 21 to use prediction markets?
No. Kalshi, Polymarket and Robinhood accept users 18 and older, unlike most sportsbooks, which require users to be 21+.
Can I combine multiple bets into a parlay on prediction markets?
Yes, on some platforms. Kalshi offers "Build Your Combo," Robinhood offers preset and custom combos (up to 10 legs), OG supports parlays, and Polymarket's US app has added combos.
Do any platforms let me practice before risking real money?
Kalshi offers a free demo account where you can trade with mock funds using only an email address. This is rare among prediction market platforms and is the best way for beginners to learn the mechanics.
How are prediction market winnings taxed?
Most traders report prediction market winnings as ordinary income; Kalshi sends an annual profit-and-loss statement rather than a 1099 for trading gains. The tax treatment of prediction market profits is still evolving and may change. Consult a tax advisor for guidance specific to your situation.
What sports can I trade on prediction markets?
The major platforms cover NFL, NBA, NCAAB, NHL, MLB, soccer, tennis, golf, UFC, Formula 1, and esports. Market types include game winners, spreads, totals, player props, futures, and parlays. Coverage varies by platform — Kalshi has the widest selection.
Should I use a prediction market or a sportsbook?
It depends on your priorities. Prediction markets offer exchange-style trading with no house edge, the ability to sell positions early, and availability in most states, including those without legal sportsbooks. Sportsbooks offer established interfaces, more established prop and in-play markets in legal states, and familiar odds formats. Many sports traders use both.
