Prediction Market Platforms Beyond Kalshi and Polymarket: The Complete 2026 Guide
There are 8+ federally regulated prediction market alternatives to Kalshi and Polymarket. Here's every platform US traders can use in 2026, with fees, state availability, and who each one is best for.
Kalshi and Polymarket are the two names everyone mentions first. Kalshi is a $22 billion standalone CFTC-regulated exchange with over 350,000 markets. Polymarket is the global crypto-native platform with the deepest political liquidity — though US users can only access its sports-focused QCX LLC entity in beta.
But they are not the whole map. In 2026, at least eight other federally regulated prediction market platforms serve US traders, each with different fee structures, state availability, and market categories. If Kalshi's fee structure doesn't fit your strategy, if you're blocked from sports markets in your state, or if you simply want to compare prices across venues, you need to know what else exists.
This guide covers every legitimate US prediction market platform beyond Kalshi and Polymarket — who each one is best for, what it costs, and where it's available.
Robinhood — Best for Casual Traders Already in the App
Robinhood entered prediction markets by partnering with Kalshi, letting users trade event contracts without leaving the Robinhood app. That's its core advantage: if you already use Robinhood for stocks or crypto, you get prediction markets in the same interface with the same account.
What you can trade: Sports, politics, economics, and culture markets — a curated selection drawn from Kalshi's exchange. Robinhood is deliberately selective. As of April 2026, the company confirmed to the Financial Times that it excludes higher-risk market types like "mention markets" (contracts tied to specific words spoken during events) to reduce insider-trading exposure.
Fees: $0.02 per contract total ($0.01 Robinhood commission + $0.01 Kalshi exchange fee).
State availability: Available in all 50 states except Maryland, where all event contracts are blocked. Sports contracts are additionally restricted in Nevada and New Jersey.
Who it's best for: Users who already have a Robinhood account and want to start trading without opening a new account elsewhere. Not ideal for traders who need maximum market selection — Robinhood's curated menu is narrower by design.
Official resource: robinhood.com/predict
ForecastEx (Interactive Brokers) — Best for Macro and Policy Traders
ForecastEx is Interactive Brokers' prediction market exchange and one of only a handful of platforms holding both CFTC Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) status. It launched in August 2024 and has quietly become the go-to platform for traders who approach prediction markets like professional futures contracts.
What you can trade: Economic indicators (Fed rate decisions, CPI, GDP, unemployment), political outcomes, environmental contracts, and NFL sports markets. The platform lists markets in question format — "Will the Fed lower the rate 25 bps this month?" — with prices updated in real time.
Fees: A flat $0.01 per contract — the lowest fee structure among CFTC-regulated US platforms. ForecastEx also pays an Incentive Coupon of approximately 3.14% APY annually on deposited collateral, which partially offsets trading costs for active users.
Access: ForecastEx has no standalone app. You trade through forecasttrader.interactivebrokers.com using an existing Interactive Brokers account. Robinhood users can also access some ForecastEx markets through Robinhood's predictions hub.
State availability: Available to US users through IBKR accounts. IBKR is licensed nationwide.
Who it's best for: Existing Interactive Brokers clients and traders who want macro-economic markets (Fed decisions, inflation, GDP) with the lowest per-contract cost. Not suitable for users who want a standalone mobile app or broad sports coverage.
Official resource: forecasttrader.interactivebrokers.com
FanDuel Predicts — Best for States Without Legal Sports Betting
FanDuel Predicts launched on December 22, 2025, in a joint venture with CME Group, starting in five states and rapidly expanding to all 50 by January 2026. The platform fills an important geographic gap: states where traditional online sports betting is illegal. In those states — California, Texas, Georgia, and others — FanDuel Predicts offers sports event contracts that sportsbooks can't.
What you can trade: Sports contracts (baseball, basketball, football, hockey) in states without legal online sports betting; financial indicators (S&P 500, Nasdaq, oil, gold, GDP, CPI) and economic benchmarks nationwide; crypto price contracts nationwide.
Fees: 2% of potential payout at checkout, applied whether or not you win. If you cash out early, the same 2% is re-applied to the early-exit payout.
State availability: Available in all 50 states for financial and economic contracts. Sports contracts are available in approximately 18 states that have not legalized online sports betting. States with legalized sportsbook operations (New Jersey, Pennsylvania, New York, etc.) can access financial and economic markets but not sports contracts.
Who it's best for: Users in non-sports-betting states (California, Texas, Georgia) who want to trade on sports outcomes through a prediction market rather than a sportsbook. Also useful for traders who want financial indicator markets (S&P 500, commodities) in a familiar consumer interface.
Official resource: FanDuel and CME Group Launch FanDuel Predicts (CME Group press release, December 22, 2025)
Coinbase — Best for Crypto-Native Traders
Coinbase entered prediction markets through a partnership with Kalshi, routing contracts through Kalshi's exchange. If you already hold crypto on Coinbase, you can access prediction markets through the same app without learning a new interface.
What you can trade: Sports, politics, economics, and crypto markets — a Kalshi-powered selection similar to what Robinhood offers.
Fees: Follows the Kalshi fee structure (formula-based, maximum 1.75¢ per contract).
State availability: Available in 49 states. Nevada is blocked following a state court preliminary injunction issued in March 2026.
Who it's best for: Existing Coinbase users who want prediction markets without a new account. The crypto-adjacent experience makes it natural for traders already comfortable with Coinbase's interface.
Official resource: coinbase.com
DraftKings Predictions — Best for DFS and Sports-First Traders
DraftKings Predictions operates through CME Group infrastructure (via Railbird, later acquired by CME Group). DraftKings' existing DFS user base makes this a natural on-ramp for sports-first traders who want to try event contracts.
What you can trade: Sports outcomes and some finance/economics contracts through the CME Group exchange.
Fees: Approximately $0.01 per contract per side in DraftKings commission, plus CME Group exchange fees. Total round-trip cost is roughly $0.02 per contract plus exchange fees.
State availability: Broadly available in US states, though DraftKings' prediction market availability may vary by state depending on existing DFS and sports-betting regulatory frameworks.
Who it's best for: Existing DraftKings DFS users who want to transition into prediction markets. The familiar DraftKings interface lowers the learning curve.
Official resource: draftkings.com/predictions
PredictIt — Best for US Politics Specialists
PredictIt is the oldest US prediction market still operating. Founded in 2014 as an academic research project under Victoria University of Wellington, it spent years operating under a CFTC no-action letter before winning full regulatory approval as a federally licensed exchange in September 2025 after a multi-year court battle.
What you can trade: US politics exclusively — presidential elections, Senate and House races, gubernatorial elections, Fed chair appointments, Supreme Court nominations, and policy outcomes. Approximately 245 active markets as of early 2026.
Fees: 10% fee on net profits per market, plus a 5% withdrawal fee. These are higher than any other platform on this list, which is the main reason most traders use PredictIt as a data source rather than a primary trading venue.
State availability: Available in all 50 states.
Who it's best for: Political researchers, academics, and traders who want the deepest US political market depth in a fully regulated environment. PredictIt also offers a free read-only JSON API at predictit.org/api/marketdata/all/ for data access.
Official resource: predictit.org
Sporttrade — Best for Sports Traders in Select States
Sporttrade is the only prediction market platform on this list that operates under state gaming licenses rather than federal CFTC registration. It launched in New Jersey and has expanded to five states. The platform resembles a sports exchange more than a traditional prediction market — you trade game outcomes, spreads, and totals in a peer-to-peer order book format.
What you can trade: Sports markets only — moneylines, spreads, and totals across major US sports leagues.
Fees: 2% commission on net winning bets. No vig is built into the odds, which means prices reflect true market probabilities more closely than sportsbooks.
State availability: Arizona, Colorado, Iowa, New Jersey, and Virginia only.
Who it's best for: Sports traders in supported states who want exchange-style pricing (no vig) rather than sportsbook odds. The 2% net-winnings model is favorable for traders who win consistently.
Official resource: sporttrade.com
Platform Comparison Table
| Platform | Regulatory Basis | Fee Structure | Sports? | Politics/Economics? | States |
|---|---|---|---|---|---|
| Robinhood | CFTC (via Kalshi) | $0.02/contract | Yes | Yes (curated) | 49 (MD excluded) |
| ForecastEx (IBKR) | CFTC DCM + DCO | $0.01/contract + ~3.14% APY rebate | NFL only | Yes (full) | All 50 (via IBKR) |
| FanDuel Predicts | CFTC (via CME Group) | 2% of potential payout | 18 states | Yes (all 50) | All 50 |
| Coinbase | CFTC (via Kalshi) | Kalshi fee structure | Yes | Yes | 49 (NV excluded) |
| DraftKings | CFTC (via CME Group) | ~$0.02/contract + exchange fees | Yes | Finance/Economics | Varies by state |
| PredictIt | CFTC (federally licensed Sep 2025) | 10% profit + 5% withdrawal | No | Politics only | All 50 |
| Sporttrade | State gaming licenses | 2% of net winnings | Yes (only) | No | 5 states (AZ, CO, IA, NJ, VA) |
How to Choose the Right Platform
If you're in a state without legal sports betting (CA, TX, GA): FanDuel Predicts is the only major platform that can offer you sports contracts. Every other CFTC-regulated platform either doesn't offer sports or follows the same state restrictions.
If you want the lowest fees: ForecastEx at $0.01 per contract beats every other option. The 3.14% APY on deposited collateral makes it even cheaper in net terms for traders who keep funds on the platform.
If you already use Robinhood or Coinbase: Start there. The interface familiarity and single-account convenience outweigh marginal fee differences for most retail traders.
If you care about US politics specifically: PredictIt has 10 years of data, the deepest political market history in the US, and a free data API — but the 10% profit fee means you're giving up a meaningful edge on every winning trade.
If you're a sports trader in a select state: Sporttrade's no-vig model is genuinely different from sportsbooks. If you're in Arizona, Colorado, Iowa, New Jersey, or Virginia and you're beating the market consistently, the 2% net-winnings model beats standard vig on winning bets.
If you're a macro trader: ForecastEx stands alone for Fed decisions, CPI releases, and economic indicator markets with professional-grade IBKR infrastructure.
Frequently Asked Questions
Can I use multiple prediction market platforms at once?
Yes, and many traders do. Kalshi, Polymarket, and ForecastEx sometimes price the same event differently. Arbitrage between platforms is legal and common. There's no rule against holding accounts on all of them.
Which platform has the lowest fees overall?
ForecastEx charges $0.01 per contract flat — lower than any other regulated US platform. Kalshi's fee formula (0.07 × P × (1 − P), max 1.75¢) is competitive for near-certain or near-impossible events but can reach 1.75¢ at 50¢ probability. PredictIt's 10% profit fee is the highest in the market.
What about platforms like Underdog, OG Predictions, and Fanatics Markets?
These platforms operate through white-label infrastructure — Underdog and OG Predictions run on Crypto.com's CDNA exchange, while Fanatics Markets does too. They're legitimate CFTC-regulated options for sports markets, but PredictionMarkets.US does not currently carry live data from those venues. We cover the platforms we can verify in real time.
Are there any US prediction market platforms for international politics or global events?
Not through a US-regulated federal venue. Kalshi and ForecastEx both list some international markets, but the broadest global political market coverage remains on Polymarket's global platform (polymarket.com) — which is not accessible to US users.
Is PredictIt the same as it was before 2025?
No. PredictIt's position limits and trader caps changed significantly after its court victory against the CFTC in 2025. The platform is now a fully licensed federally regulated exchange, which was not the case during its earlier years of operating under a no-action letter.
The Bottom Line
Kalshi and Polymarket dominate prediction market volume, but they're not the only choices. For macro traders, ForecastEx offers the lowest fees and professional-grade tools. For users in non-sports-betting states, FanDuel Predicts fills a gap no other platform can. For political research and data, PredictIt's decade-long track record and free API are unmatched.
The right platform depends on your state, your market focus, and whether you already have accounts elsewhere. Most serious traders eventually end up on multiple platforms — prices diverge, markets differ, and having access to all of them is a genuine edge.
For live market data and odds comparisons across Kalshi, Polymarket, and PredictIt, visit PredictionMarkets.US.
Sources & Verification
- FanDuel Predicts launch, December 22, 2025: FanDuel and CME Group Launch FanDuel Predicts (CME Group press release) — verified April 15, 2026
- FanDuel fee structure (2% of potential payout): FanDuel Predicts — How Do Payouts Work? — verified April 15, 2026
- FanDuel state availability (all 50 / sports in 18): CME Group press release, December 22, 2025 — verified April 15, 2026
- ForecastEx fees ($0.01/contract), APY, and market categories: ForecastTrader by Interactive Brokers — verified April 15, 2026
- ForecastEx CFTC status and trading guide: Interactive Brokers Campus — Trading ForecastEx Event Contracts — verified April 15, 2026
- PredictIt full CFTC regulatory approval, September 2025: ReadWrite, "PredictIt wins approval to be full prediction market under CFTC," September 8, 2025 — verified April 15, 2026
- Robinhood state restrictions (MD excluded; NV/NJ sports restricted): Robinhood support documentation and Robinhood prediction markets hub — verified April 15, 2026
- Robinhood insider-trading restrictions (April 2026): Financial Times interview with Jordan Sinclair, Robinhood UK president, cited by multiple outlets April 13–14, 2026 — verified April 15, 2026
- Sporttrade state availability (AZ, CO, IA, NJ, VA): sporttrade.com official documentation — verified via platform data
- PredictIt fees (10% profit + 5% withdrawal): predictit.org — verified April 15, 2026
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