Prediction market platforms compared: US apps side by side
As of November 2026, US residents can trade event contracts on at least the ten platforms compared below. Some are exchanges that run their own order books (Kalshi, Polymarket US, Crypto.com, Novig). Others are brokers or apps that route your order to an exchange, sometimes one owned by the same company (Robinhood, Webull, Interactive Brokers, Coinbase, DraftKings Predictions, FanDuel Predicts). Fees range from $0 commission plus a 1¢ exchange fee to 2% of the payout, so the same trade can cost very different amounts depending on where you place it.
Exchange or broker: why it matters
A designated contract market (DCM) lists the contracts and matches orders. A futures commission merchant (FCM) or broker holds your account and passes orders to a DCM, often adding its own commission. Robinhood, for example, routes to KalshiEX LLC, ForecastEX LLC, Rothera Exchange and Clearing LLC or Crypto.com Derivatives North America. Coinbase and Webull route to Kalshi. A Kalshi contract bought through a broker can therefore cost more than the same contract bought on Kalshi.
The platforms side by side
"Not verified" means we could not confirm the cell from a primary source or a dated, reputable review. It does not mean "no."
| Platform | Entity and regulator | Markets | Fee model | Min age | Funding |
|---|---|---|---|---|---|
| Kalshi | KalshiEX LLC, CFTC DCM since 2020 | Politics, sports, economics, culture, entertainment | Taker 0.07 × C × p × (1 − p); maker $0 by default | 18 | ACH, wire, debit card (up to 2%), crypto |
| Polymarket US | QCX LLC d/b/a Polymarket US, CFTC DCM | Sports, politics, culture, economics, crypto | Taker 0.0695 × C × p × (1 − p); no maker fee | 18 (19 AL/NE, 21 MS) | Debit, ACH, Apple Pay, PayPal, Venmo, wire; USDC on iPhone where available |
| Robinhood | Robinhood Derivatives, LLC (FCM); routes to Kalshi, ForecastEx, Rothera, CDNA | Sports, politics, weather, commodities, entertainment | Commission up to $0.01 per contract plus exchange fee up to $0.01 | 18 | Settled cash in Robinhood account |
| Webull | Broker; contracts from Kalshi | Not verified | $0.01 commission plus $0.01 Kalshi fee | Not verified | Linked individual brokerage account |
| Interactive Brokers (ForecastTrader) | IB LLC; ForecastEx LLC, CFTC DCM since June 2024; also Kalshi and CME contracts | Political, economic, climate, financial | ForecastEx $0.00 plus $0.01 exchange fee; Kalshi and CME $0.01 plus $0.01 | 21 | Not verified |
| Crypto.com | Crypto.com Derivatives North America (CDNA), CFTC-regulated exchange | Sports, elections, economics | Not verified (sources disagree) | 18 (21 in some states) | ACH, wire, debit card (1.49%), crypto |
| Coinbase | Coinbase Financial Markets (FCM); contracts from Kalshi | Politics, sports, entertainment, culture, economics | Not published | 18 | USD or USDC |
| DraftKings Predictions | Railbird Exchange, LLC (DKeX), CFTC DCM; trades through an FCM and NFA member | Sports, economics, stocks, crypto, commodities, culture | $0.01 to $0.02 per contract by price | 18 | Debit card, bank transfer |
| FanDuel Predicts | FanDuel Prediction Markets LLC (FCM); CME Group and Crypto.com OG contracts | Financial, economic, commodities; sports in 18 states | 2% of maximum payout per trade | 18 | Debit card, bank transfer |
| Novig | Ludlow Exchange, CFTC DCM since June 2026 | Sports only | Taker fee; rate not verified | 21 | Not verified |
Notable restrictions
| Platform | What to know |
|---|---|
| Kalshi | Requires a US residential address. Sports contracts are contested in several states. |
| Polymarket US | Not available in Nevada. No new sports contracts in Michigan; open sports positions close by Nov 25, 2026 (per CryptoSlate). |
| Robinhood | No sports in MD, MI or NV. No new sports positions in OH. No new sports, culture, elections or politics positions in UT (as of Nov 2, 2026). |
| Webull | Not verified |
| Interactive Brokers | US election contracts are limited to eligible US residents. |
| Crypto.com | Not available in New York, per DeFi Rate. |
| Coinbase | Sports and politics contracts are blocked in some states; Coinbase-specific list not published. |
| DraftKings Predictions | Not in Nevada. Sports contracts mainly where DraftKings Sportsbook is not licensed. |
| FanDuel Predicts | Sports only in 18 states without legal online sports betting. |
| Novig | Not in Arizona, Michigan or Nevada at its August 2026 launch. |
State rules change with court rulings. Our state-by-state page is updated more often than this table.
What 100 contracts at 50¢ cost in fees
Fees are easier to compare on one trade. Here is the fee to buy 100 contracts at 50¢ ($50 stake, $100 payout), as a taker, using the published rates above.
| Platform | Fee | How it is calculated |
|---|---|---|
| Interactive Brokers, ForecastEx contract | $1.00 | $0 commission + $0.01 exchange fee × 100 |
| Polymarket US | about $1.74 | 0.0695 × 100 × 0.25 |
| Kalshi | $1.75 | 0.07 × 100 × 0.25 |
| Robinhood | up to $2.00 | $0.01 commission cap + up to $0.01 exchange fee, × 100 |
| Webull | $2.00 | ($0.01 + $0.01) × 100 |
| Interactive Brokers, Kalshi contract | $2.00 | ($0.01 + $0.01) × 100 |
| DraftKings Predictions | $2.00 | $0.02 × 100 |
| FanDuel Predicts | $2.00 | 2% × $100 payout |
At 50¢ the spread between platforms is about $1 per 100 contracts. Away from 50¢ the order changes. The formula-based fees on Kalshi and Polymarket US shrink toward the extremes, while FanDuel's 2% of payout does not. At 10¢, FanDuel still charges $2.00 on a $10 stake.
ForecastEx contracts are not the same markets as Kalshi's, so its low fee is useful only if it lists the event you want. Interactive Brokers also pays an incentive coupon on forecast contract positions, which it quotes at 3.38% APY as of November 2026.
The fee is only part of the cost. A 1¢ better price is worth $1 per 100 contracts, about the size of the fee gap above. Our fee calculator prices other sizes and prices. Compare prices on our live comparison, and see how often venues disagree in our price-gap data.
Which platform fits which kind of trader
- You already have a brokerage account and trade occasionally. Robinhood, Webull, Interactive Brokers or Coinbase keep everything in one place. You pay roughly a cent or two extra per contract for that.
- You trade often or in size. Exchanges with formula fees, Kalshi and Polymarket US, cost less near the extremes. Kalshi charges no maker fee by default, which matters if you post limit orders. See Kalshi vs Polymarket.
- You hold long-dated economic or climate positions. Interactive Brokers' ForecastEx contracts carry the incentive coupon, but the minimum age is 21.
- You want to fund with crypto. Coinbase takes USDC, Crypto.com takes crypto deposits, Kalshi takes crypto through a payment processor, and Polymarket US accepts USDC on iPhone where available.
- You mostly trade sports in a state without a legal sportsbook. DraftKings Predictions and FanDuel Predicts focus on those states. Novig is sports-only and 21+. See our sportsbook prediction markets guide.
- You are 18 to 20. Interactive Brokers and Novig are out. The others list 18 as the platform minimum, though some states set a higher age.
New to this? Start with how prediction markets work.
This comparison is information, not investment advice, and no platform here is endorsed. Event contracts can expire worthless, and you can lose the full amount you pay.
FAQ
Which prediction markets are legal in the US?
Kalshi, Polymarket US, ForecastEx, Crypto.com Derivatives North America, Railbird (DraftKings) and Ludlow (Novig) operate CFTC-regulated exchanges, and brokers such as Robinhood, Webull, Interactive Brokers and Coinbase give access to them. Several states are challenging sports contracts in court, so availability varies by state.
Which prediction market has the lowest fees?
It depends on the contract price and the market. At 50¢, 100 contracts cost about $1.00 in fees on an Interactive Brokers ForecastEx contract, $1.74 on Polymarket US, $1.75 on Kalshi and $2.00 on Webull, DraftKings Predictions or FanDuel Predicts.
Which prediction market apps allow 18-year-olds?
Kalshi, Polymarket US, Robinhood, Coinbase, Crypto.com, DraftKings Predictions and FanDuel Predicts list 18 as the minimum, though some states set a higher age. Interactive Brokers' event contracts and Novig require 21.
Can I fund a US prediction market account with crypto?
Yes, on some platforms. Coinbase accepts USDC, Crypto.com accepts crypto deposits, Kalshi takes crypto through a third-party processor, and Polymarket US accepts USDC on iPhone where available.
Is trading Kalshi through Robinhood the same as trading on Kalshi?
The contract can be the same, but the cost differs. Robinhood adds a commission of up to $0.01 per contract plus an exchange fee of up to $0.01, while Kalshi charges its own taker formula and no maker fee by default.