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    April 20268 min read

    Prediction Market Platform Transparency Scorecard (2026): Kalshi vs Polymarket and More

    Compare prediction market platforms on rule clarity, resolution transparency, dispute handling, regulator status, and public documentation. See how Kalshi, Polymarket, PredictIt, and others stack up.

    Platforms Scored

    4

    Highest Score

    78/100

    Dimensions

    5

    Trust Events

    6+

    Platform Transparency Scorecard

    Which platforms explain their rules clearly — and which don't?

    Updated April 22, 2026Methodology ↓Compare pages →
    Best Rule Clarity

    Kalshi

    7.5 / 10

    Best Dispute Visibility

    PredictIt

    7.0 / 10

    Most Regulated

    Kalshi

    10.0 / 10

    Biggest Trust Gap

    Kalshi

    Rule-amendment controversy

    Overall Rankings

    RankPlatformScore
    1Kalshi
    78/100
    2PredictIt
    74/100
    3Polymarket
    68/100
    4Robinhood (via Kalshi)
    63/100
    5Sporttrade
    61/100

    Scoring Breakdown

    Detailed dimension scores

    PlatformRulesResolutionDisputes
    Kalshi7.576
    PredictIt77.57
    Polymarket66.55
    Robinhood (via Kalshi)665.5
    Sporttrade6.565.5

    Each dimension scored 1–10. Higher is better.

    Platform Details

    Recent Trust Events

    Timeline of platform controversies

    2026-04-14Ohio OCCC issues $5M notice of intent to fine Kalshi for unlicensed sports-betting operationKalshi
    2026-04-10CFTC TRO granted vs Arizona — bars AZ from enforcing gambling laws against CFTC DCMs; Kalshi criminal arraignment called offKalshi
    2026-04-06Third Circuit rules 2-1 (KalshiEX LLC v. Flaherty): CFTC has exclusive jurisdiction over Kalshi sports event contracts — first federal appeals court win for PM preemptionKalshi
    2026-03-06Business Insider frames Kalshi fine-print dispute as category-wide trust issueKalshi
    2026-03-05"Gambling Is Not Investing" coalition formally launched (Mulvaney)
    2026-03-04Michigan AG Nessel sues Kalshi; Polymarket counter-sues preemptivelyKalshi
    2026-03-03Bloomberg editorial escalates prediction market trust criticism
    2026-02-28Khamenei killed; Kalshi invokes death carveout on $54M market, $2.2M refunds followKalshi
    2025-11-25Polymarket QCX LLC amended CFTC order; US relaunch follows in December 2025Polymarket
    2026-01-20CFTC Chair Selig announces formal rulemaking push for event contracts
    Trust-routing receipts

    Trust-routing receipt schema

    PredictionMarkets.US treats router outputs, affiliate tables, screenshots, and platform pages as leads until a receipt stack confirms venue, rules/source, fees, access, liquidity/timing, and consumer-protection context.

    Receipt fieldPass questionWeak or missing meansVerdict
    last_checked
    Last checked
    		Does the claim show when the source, route, or platform fact was last verified?A stale screenshot, cached table, or undated router result may describe an old market state.
    Needs official source
    source_url
    Source URL
    		Can a reader open the primary source behind the claim?Without a source URL, the item is a lead, not a citation.
    Needs official source
    venue
    Venue
    		Is the listed venue or wrapper clearly named?A price or rule claim can point to the wrong venue, app surface, or market family.
    Useful lead only
    exchange_or_fcm_path
    Exchange or FCM path
    		Does the receipt identify whether the user reaches a direct exchange, FCM, broker, or wrapper route?Access, fees, disclosures, and support obligations can change by route.
    Access/fee caveat
    clearing_source_path
    Clearing/source path
    		Does the receipt show the clearing, oracle, official data, or settlement-source path?A headline can be true while the contract resolves from a different source trail.
    Needs official source
    fee_caveat
    Fee caveat
    		Does the receipt explain whether displayed prices survive fees, spread, and wrapper costs using verified platform facts?A visible edge may disappear after costs or may compare a gross price with a net price.
    Access/fee caveat
    access_caveat
    Access caveat
    		Does the receipt explain jurisdiction, eligibility, app-route, or account-access limits without hardcoding stale availability?A market can be real but unreachable for the reader.
    Access/fee caveat
    settlement_source
    Settlement source
    		Does the receipt name the rule source or official data source that controls settlement?Sportsbook-style or news-style wording may not match the contract rule.
    Needs official source
    consumer_protection_status
    Consumer-protection status
    		Does the receipt show the relevant help, limits, surveillance, disclosure, or regulatory protection context?A platform comparison is incomplete if it only ranks price and ignores user-protection context.
    Integrity caveat
    integrity_notes
    Integrity notes
    		Does the receipt flag insider-information, manipulation, rule-dispute, or data-quality caveats that change trust?A clean-looking quote can still be unsafe to cite if the market has unresolved integrity context.
    Integrity caveat

    Verdict chips

    Ready to cite
    Useful lead only
    Needs official source
    Access/fee caveat
    Integrity caveat
    Do not publish

    Source policy

    Do not use Reddit, X, competitor pages, affiliate pages, Wikipedia, Medium, or secondary crypto-gaming sources as factual citations. Use official venue, platform, CFTC, state, court, league, API documentation, or verified internal platform facts before publishing a claim.

    Platform architecture map Spread provenance receipts Market-move receipts Watchdog provenance receipts Regulatory claim receipts IBKR venue-routing receipts

    How We Score Transparency

    Our methodology explained

    Rule Clarity

    Are contract terms unambiguous and published before trading opens?

    Resolution Transparency

    Is the resolution process visible and well-documented?

    Dispute Visibility

    Can users see outcomes of challenges and appeals?

    Public Documentation

    Are rules, APIs, policies, and resolution criteria publicly accessible?

    Regulatory Accountability

    Is there meaningful external oversight (CFTC, state, or other)?

    This is an editorial scorecard based on publicly available evidence, not a mathematical model. Scores reflect our assessment as of April 2026. We update this page as platforms change their practices or new trust events occur. This is not investment advice.

    Sources & References

    CFTC.govKalshi.com (public rules)Polymarket.com (UMA oracle docs)PredictIt.org (market rules)Business InsiderBloombergWIREDGamingAmerica.com

    Related Pages

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    How Markets Settle

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    Tax Guide

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