America's first sports-native, CFTC-regulated prediction exchange. Fees, parlays, state availability, the true peer-to-peer model, and who should actually use ProphetX.
Regulation
CFTC DCM+DCO
Launched
Jun 2026
Straight Fee
2% net gains
Available
49 states
ProphetX is the purest expression of the sports-native prediction exchange: built only for sports, structurally peer-to-peer, and — uniquely — with no affiliated trading arm betting against its own customers. The dual CFTC DCM + DCO approval (June 2026) lets it trade, clear, and settle in-house, and the team has been building sports exchanges since 2018. The model rewards traders who want to set their own prices, build no-fee parlays, and never get limited for winning. The trade-offs: sports only (no politics/finance/weather), liquidity that's still maturing as a brand-new exchange, and a 2% fee on net gains for straight trades. For sharp sports traders who hate getting limited, it's one of the most compelling options on the market.
True Peer-to-Peer, No House
No affiliated trading arm takes the other side of your bets. You trade directly against other users; the market sets the price, not a bookmaker.
Sports Only
No politics, finance, weather, crypto, or entertainment markets. If you want cross-category event contracts, Kalshi or Polymarket cover more ground.
Dual CFTC Approval (DCM + DCO)
The first sports-native direct-clearing prediction market — trades, clears, and settles in-house under full federal oversight.
Brand-New Exchange Liquidity
Launched nationwide June 2026. As a true peer-to-peer venue, depth depends on counterparties — thinner markets can be harder to fill at your price.
No-Fee Parlays
Straight trades are 2% on net gains; parlays (including same-game parlays) are 0%. A proprietary RFQ mechanism prices multi-leg combos peer-to-peer.
2% on Straight-Trade Gains
No vig in the odds and no fee on losses, but the 2% net-gains fee on straight trades is a real cost to factor in (parlays are free).
Set Your Own Prices
Use market orders or limit orders. Request any price you want — become the oddsmaker. Live liquidity shown three levels deep.
No Nevada
Available in 49 states — everywhere except Nevada. Welcome bonus also excluded in Minnesota.
Doesn't Limit Winners
An explicit, structural commitment: ProphetX does not limit or ban winning accounts — the opposite of a traditional sportsbook.
Regulatory Uncertainty
Sports event contracts remain contested between the CFTC and some state regulators; a pending 267-page CFTC rulemaking could reshape allowed contract types.
Sports-Native Team
Building sports exchanges since 2018 (UK 2018, NJ 2022, sweepstakes 2024). Staffed with people who know sports culture and high-volume events.
Bonus Strings Attached
Incentive funds are used before your own cash, withdrawable only after a position settles, and forfeited if unused within 45 days.
See how ProphetX stacks up
ProphetX is a sports-native, CFTC-regulated prediction exchange that launched nationwide in June 2026. It received dual approval from the Commodity Futures Trading Commission as both a Designated Contract Market (the exchange) and a Derivatives Clearing Organization (the clearinghouse) — making it the first sports-native, direct-clearing prediction market in the United States.
The company isn't new to the space. It began as Prophet Exchange in 2018 (licensed in the UK), launched the first regulated peer-to-peer sports betting exchange in New Jersey in 2022, pivoted to a sweepstakes model as ProphetX in 2024, and filed its CFTC applications in November 2025. Co-founders Dean Sisun (CEO) and Jake Benzaquen have spent eight-plus years building toward a federally regulated sports exchange.
In plain terms: ProphetX is a sports-only event-contract exchange where you trade Yes/No outcomes directly against other users. You can take the available price or set your own as a limit order. Prices reflect what the market thinks will happen — there's no house setting the line and no vig built into the odds.
Open a ProphetX account to trade on a true peer-to-peer sports exchange — set your own prices, build no-fee parlays, and trade against other users, not the house.
Sponsored link · 18+ · Trade responsibly · 1-800-GAMBLER · Availability varies by state
No house. No affiliated trading arm.
ProphetX's biggest structural claim is that it has no corporate sibling trading against the public — a distinction it draws sharply against sportsbooks and even some other exchanges.
"Unlike sportsbooks, which are single-dealer models designed to profit when consumers lose, ProphetX is a true peer-to-peer exchange where users set their own prices, trade directly against one another, and pay a thin, transparent commission."
— ProphetX nationwide launch announcement, June 2026
You're matched against other traders, not a bookmaker. ProphetX works with third-party market makers for liquidity but doesn't trade against you.
Prices reflect supply and demand and market-driven probability — no built-in margin or shaded lines.
A structural commitment not to limit or ban winning accounts — the opposite of how sportsbooks treat sharps.
Sports only — but deep on sports
ProphetX is exclusively sports. Its proprietary Request-for-Quote (RFQ) parlay mechanism lets users build and price multi-event combinations directly with counterparties.
Moneylines, spreads, totals, player props, futures, live in-game, same-game parlays.
Build and price multi-event combos directly with counterparties — and pay 0% on parlay net gains.
Thin, transparent commission
Straight trades
2% net gains
Parlays
0%
Losing positions
$0
Vig in odds
None
Welcome Bonus: Trade $10, Get $20
Place one qualifying trade of $10+ within 30 days of account approval and get $20 in incentive funds (credited within a day). Incentive funds are used before your own cash, are withdrawable only after a position settles, and are forfeited if unused within 45 days. Not available in Nevada or Minnesota.
Funding methods and timelines
All deposits and withdrawals must use a financial instrument in the account holder's own name — no business accounts, no third-party funding. Minimum withdrawal is $1.
Min deposit $10.
Min $10 equivalent.
Min deposit $1,000.
Instant at some banks. Min withdrawal $1.
Paper check by mail.
$5,000+ withdrawals.
49 states · all except Nevada
Available: 49 states plus D.C. As a federally CFTC-regulated exchange, ProphetX operates independently of state sports-betting licensing.
Excluded: Nevada (the only state without coverage). Welcome bonus also unavailable in Minnesota.
Caveat: Sports event contracts remain the subject of ongoing legal disputes between federal regulators and some state gaming authorities, so availability could change.
CFTC DCM + DCO. Direct-clearing means trade execution and settlement happen in-house under a single federal framework.
Built-in deposit limits, trading breaks, self-exclusion, account closure, statements, and marketing opt-out. Problem-trading resources via Birches Health and 1-800-GAMBLER.
All deposits and withdrawals must use a financial instrument in the account holder's own name. No business accounts, no third-party funding.
Added a Chief Legal Officer and Chief Compliance & Risk Officer with prior CFTC-approved-exchange experience ahead of approval.
Open a ProphetX account to trade on a true peer-to-peer sports exchange — set your own prices, build no-fee parlays, and trade against other users, not the house.
Sponsored link · 18+ · Trade responsibly · 1-800-GAMBLER · Availability varies by state
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