SI

Apps Like PredictIt in 2026 (Tested & Compared)

The best apps like PredictIt will offer broader market variety and access to sports markets, higher position limits, and real welcome bonuses. Three things PredictIt's politics-only structure doesn't provide. Our reviews focus on prediction market apps such as Kalshi and Polymarket, tested with real money across political, sports, and event markets alike.

Best apps like PredictIt

#1 Rated
Trade $25, Get $35 Bonus

Top Features

  • Best mobile experience
  • Most diverse markets
  • Best for non-crypto users
Payout Speed
Currency-dollars
Within 30 minutes
Overall Rating
4.9/5
Claim Now
*Certain limitations apply. The offer is available to new users only. 18+ only. Restrictions and eligibility requirements apply. Event contract trading involves significant risk and is not appropriate for everyone. Please carefully consider if it is appropriate for you in light of your personal financial circumstances. Kalshi products are not available in all jurisdictions. See http://kalshi.com/regulatory for more information.
*Certain limitations apply. The offer is available to new users only. 18+ only. Restrictions and eligibility requirements apply. Event contract trading involves significant risk and is not appropriate for everyone. Please carefully consider if it is appropriate for you in light of your personal financial circumstances. Kalshi products are not available in all jurisdictions. See http://kalshi.com/regulatory for more information.
#2
Deposit $10, Get $50 Bonus

Top Features

  • Huge variety of trending topics
  • Lowest trading fees
  • Fastest payouts
Payout Speed
Currency-dollars
Instant
Overall Rating
4.8/5
Claim Now
18+ Only. Restrictions and eligibility requirements apply. Not available in all jurisdictions. Trading is risky. 100% loss can occur. See http://polymarket.com/tos  for more information. The Polymarket US App serves as an independent software provider and affiliate of Polymarket US and Polymarket Clearing, the CFTC-regulated exchange and clearing organization.
18+ Only. Restrictions and eligibility requirements apply. Not available in all jurisdictions. Trading is risky. 100% loss can occur. See http://polymarket.com/tos  for more information. The Polymarket US App serves as an independent software provider and affiliate of Polymarket US and Polymarket Clearing, the CFTC-regulated exchange and clearing organization.
#3
Deposit $10 Get $25

Top Features

  • Daily rewards
  • Commission-free peer-to-peer trading
  • Limit orders and custom pricing
Payout Speed
Currency-dollars
Within minutes
Overall Rating
4.7/5
Claim Now
21+. New users only. Deposit $10 to receive $25 in bonuses. Novig trade credits arrive as five (5) Trade Credits of $5.00 each. The Trade Credits expire after 30 days and are non-withdrawable. Available nationwide where permitted.
21+. New users only. Deposit $10 to receive $25 in bonuses. Novig trade credits arrive as five (5) Trade Credits of $5.00 each. The Trade Credits expire after 30 days and are non-withdrawable. Available nationwide where permitted.
#4
Trade $50, Get $75

Top Features

  • Now available nationwide
  • No-fee parlay trading
  • Live in-game markets for sports
Payout Speed
Currency-dollars
Within 24 hours
Overall Rating
4.6/5
Claim Now
New participants only. Trade $50+ to unlock $75 in incentive funds, paid in three $25 installments over 14 days. Trades above 80% excluded. Each installment expires 45 days after credit. Terms apply.
New participants only. Trade $50+ to unlock $75 in incentive funds, paid in three $25 installments over 14 days. Trades above 80% excluded. Each installment expires 45 days after credit. Terms apply.
#5
50% Deposit Match Up to $1,000

Top Features

  • Flexible welcome offer
  • Sports-focused markets
  • Multiple ways to play
Payout Speed
Currency-dollars
Within 24 hours
Overall Rating
4.6/5
Claim Now
50% deposit match up to $1,000. Min. $10 deposit. 1x playthrough of deposit + bonus required within 14 days. New users only. Eligibility and availability vary. Terms apply.
50% deposit match up to $1,000. Min. $10 deposit. 1x playthrough of deposit + bonus required within 14 days. New users only. Eligibility and availability vary. Terms apply.
#6
Up to $100 in Predict Cash

Top Features

  • Strong and growing market liquidity
  • Predictions built into the Gemini app
  • Fast, automated market resolution
Payout Speed
Currency-dollars
Within 3 hours
Overall Rating
4.5/5
Claim Now
Terms and conditions apply
Terms and conditions apply
#7
Trade $10, Get $10 Bonus

Top Features

  • Best for margin traders
  • Real-time chats and leaderboards
  • Sports-focused platform
Payout Speed
Currency-dollars
Within 24 hours
Overall Rating
4.5/5
Claim Now
The promotion expires 7 days after account verification. Only events settled within this 7-day window are eligible. Each qualifying trade must be worth at least $10. Only trades with probabilities below 80% qualify. Trades at or above 80% probability will not be counted. Trades are only counted once they have settled. Trades placed using rewards will not be counted.
The promotion expires 7 days after account verification. Only events settled within this 7-day window are eligible. Each qualifying trade must be worth at least $10. Only trades with probabilities below 80% qualify. Trades at or above 80% probability will not be counted. Trades are only counted once they have settled. Trades placed using rewards will not be counted.
#8
Trade $10, Get $20 Bonus

Top Features

  • Low, transparent trading fees
  • Sports and real-world event markets
  • Established, regulated trading brand
Payout Speed
Currency-dollars
1 to 3 business days
Overall Rating
4.4/5
Claim Now
Terms and conditions apply.
Terms and conditions apply.
#9
Up to $2,000 USD in CRO

Top Features

  • Instant crypto-to-USD conversions
  • Supports 400+ cryptocurrencies
  • Best for casual traders
Payout Speed
Currency-dollars
Within 2 hours
Overall Rating
4.3/5
Claim Now
18+. New users only. 100% up to $2,000 bonus. Restrictions apply.
18+. New users only. 100% up to $2,000 bonus. Restrictions apply.

Our experts carefully select each item on this site. We may earn a commission if you sign up through our links.

21+ and present in OH. Gambling problem? Call 1-800-MY-RESET.

Find your best PredictIt alternative in 30 seconds

Looking for an app like PredictIt? Use the guide below to find the one that best matches your trading style, then dive into our full reviews for a closer look.

If you want...

The closest and best alternative for those who want to trade on sports, politics, elections, and other real-world events with a simple interface:

Choose: 🟢 Kalshi

If you want...

The broadest selection of sports, political, crypto, and global event markets with high liquidity:

Choose: 🔵 Polymarket

If you want...

A prediction market built exclusively for sports trading:

Choose: 🧙‍♂️ ProphetX

If you want...

A platform that gives you the best rewards:

Choose: ➡️ Novig

If you want...

Sports prediction markets with social features and community interaction:

Choose: 🟠 OG.com

If you want...

A platform that combines crypto trading with sports and event prediction markets:

Choose: 🪙 Crypto.com

Apps like PredictIt at a glance September 2026

To help you get started, I've listed the top PredictIt alternatives below and highlighted the prediction market promos currently available on each platform.

App Welcome bonus States available Best for
Kalshi Trade $25, get $35 bonus All states except NV and WA The most well-balanced experience
Polymarket Deposit $10, get $50 bonus All states except NV Global events
Novig Deposit $10, get $25 bonus All states except NV Daily rewards
ProphetX Trade $50, get $75 bonus All states except NV Parlay trading
Underdog 50% deposit match up to $1,000 AK, AL, AR, AZ, CA, CO, FL, GA, IL, IN, KS, KY, MA, MI, MN, MO, MS, NC, ND, NE, NH, NJ, NM, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WI, WV, WY Multi-use
Gemini Up to $100 in Predict Cash All states NFL promos
OG.com Trade $10, get $10 bonus All states except AZ and NY (users in IL, MA, MD, MI, NJ, NV, and OH are also not permitted to trade sports contracts) Social integration
Plus500 Trade $10, get $20 All 50 states; sports trading restricted in 18 states Low-fee trading
Crypto.com Up to $2,000 bonus All states except AR, AZ, CT, IL, LA, OH, MA, MD, MI, NV, and NY. Crypto users

Apps like PredictIt, reviewed

I tested each of these PredictIt alternatives under real trading conditions, comparing everything from execution speed and liquidity to pricing and overall usability. If you're looking for the best apps like PredictIt, these are the platforms that delivered the strongest experience based on my testing.

1. Kalshi - Best overall alternative

Kalshi is the platform most people land on once PredictIt's politics-only menu starts to feel limiting. It's a fully registered CFTC exchange rather than a research project operating under no-action relief, and that shows up in the details — deep sports and economic contract markets sit right alongside politics, giving you a lot more to trade overall.

I found order fills on Kalshi held up well even during high-volume windows around major news events, and the interface has a shorter learning curve than PredictIt's dated share-trading layout. Real-world market traders who want to dabble in sports will love Kalshi's approach which blends high liquidity markets in news, politics, and culture with one of the best sports offerings in prediction markets.

Key highlights

  • CFTC-registered Designated Contract Market
  • Sports, economics, and politics all in one app — not politics-only
  • Clean, modern trading interface
  • Kalshi NFL markets are some of the best for football season
Image of the Kalshi promo code SI35 offer: Trade $25, Get $35 bonus.

Our Kalshi review gives the full breakdown, including information on Kalshi promo code and Kalshi referral code.

You can also view our apps like Kalshi page for a comparison.

Lastly, check these pages for information on states where sports betting is banned or limited:

*Certain limitations apply. The offer is available to new users only. 18+ only. Restrictions and eligibility requirements apply. Event contract trading involves significant risk and is not appropriate for everyone. Please carefully consider if it is appropriate for you in light of your personal financial circumstances. Kalshi products are not available in all jurisdictions. See http://kalshi.com/regulatory for more information.

2. Polymarket - Best for global events

If PredictIt's narrow menu is the frustration, Polymarket is the fix. It runs one of the largest slates of political and world-event contracts anywhere, and its pricing updates in near real time as volume rolls in around a breaking story.

Testing it side by side with PredictIt, the difference in depth was obvious — Polymarket's larger markets rarely felt thin, where PredictIt's smaller research-scale contracts sometimes did. In terms of interface, Polymarket wins out as well. It offers a far more dynamic trending section which updates in real time and includes markets in sports that PredictIT does not offer.

Key highlights

  • Deep coverage of global and political events
  • Fast-moving pricing during live news cycles
  • Built for users comfortable with crypto-based settlement
Polymarket promo code SIBONUS: Deposit $10, get $50 bonus

Read the Polymarket review and then claim the Polymarket promo code today. Then start earning with the Polymarket referral code to get bonus funds to use on Polymarket NFL markets.

You can then view our apps like Polymarket page for more options. If you're located in the Golden State, read our Polymarket California page to learn how to get started.

18+ Only. Restrictions and eligibility requirements apply. Not available in all jurisdictions. Trading is risky. 100% loss can occur. See http://polymarket.com/tos  for more information. The Polymarket US App serves as an independent software provider and affiliate of Polymarket US and Polymarket Clearing, the CFTC-regulated exchange and clearing organization.

3. Novig - Best for prediction market rewards

All new users can enter the Novig promo code SIBONUS to claim the platform's current deposit $10, get $25 welcome offer. After making a qualifying $10 deposit, you'll receive $25 in trade credits, issued as five $5 credits that can be used across Novig's sports prediction markets.

Novig takes a sports-first approach compared with prediction markets that also cover politics, economics and entertainment. Users can trade markets across leagues and competitions such as the NFL, NBA, MLB, NHL and PGA, with options ranging from game outcomes to player props and live markets. Novig also offers daily rewards and free-to-play options for users who want additional ways to interact with the platform.

Key highlights

  • Daily rewards for active users
  • Sports-focused markets, including live trading and player props
  • Free-to-play options are available
Image of Novig promo code offer: SIBONUS

You can also get a closer look at how the platform compares with its competitors by checking out our apps like Novig page.

4. ProphetX - Best for trading parlays

ProphetX is the pick for anyone who wants more control than PredictIt's fixed share-pricing model gives you. Instead of buying into a set price, you post your own odds and trade positions directly, which feels closer to working a real order book than clicking through a betting slip. This sports-focused platform also excels with a modern-feeling interface that displays order books and odds clearly and makes trading intuitive for new users.

That structure also makes it easier to manage a position before a market resolves, something PredictIt's academic framework doesn't build around.

Key highlights

  • Set your own prices with limit orders
  • Live position management before resolution
  • Transparent order books and market depth
ProphetX promo image 

Get started with bonus funds when you use the ProphetX promo code offer.

5. Underdog - Best all-in-one platform

Underdog Predict brings event-contract trading into an app many users may already know for fantasy contests. That gives it a broader feel than a dedicated prediction market platform, with users able to move between Predictions and other Underdog products from the same account.

The platform supports individual contracts, multi-pick Prediction parlays, and Combos that mix a Prediction Pick with Fantasy selections. That range gives users several ways to approach the same slate of events without leaving the Underdog app.

Key highlights

  • Predictions and Fantasy in one account
  • Single-contract and multi-pick options
  • Prediction parlays of up to four picks
  • Combos that blend Predictions with Fantasy
Underdog promo code SICOM: 50% deposit match up to $1,000

Make sure to grab the Underdog promo code when signing up.

6. Gemini Predictions - Best for NFL promos

Gemini Predictions combines a wide range of event contracts with a trading experience that should feel approachable even if you are new to prediction markets. Prices are displayed in cents, making it easy to see each outcome's market-implied probability before opening a position.

Sports are a major part of the platform, but Gemini also goes well beyond them with markets tied to crypto, economics, politics, and current events. You can also sell eligible positions before settlement when sufficient liquidity is available.

Key highlights

  • Strong selection of sports markets
  • Wide range of non-sports categories
  • Ability to exit positions before settlement
  • Available in all states

Our Gemini Predictions promo code guide has the latest welcome offer and qualification details.

7. OG.com - Best for niche sports event markets

OG.com leans into the sports markets that PredictIt doesn't cover at all. Where PredictIt is boxed in to elections, nominations, and policy questions by the terms of its CFTC letter, OG.com's contract list stretches into sports and speculative angles that are hard to find anywhere else, with a trading community that feels more grassroots than institutional.

The app itself reads more like a trading terminal than a betting slip, which is a useful contrast if PredictIt's dated share-pricing screens have felt limiting.

Key highlights

  • Unique event contracts beyond politics
  • Community-driven market activity
  • Clean, modern trading-style interface
OG.com promo: Trade $10, get $10 bonus.

Make sure to claim OG.com promo code to get started today.

  • Campaign Period: Extended
  • The promotion expires 7 days after account verification. Only events settled within this 7-day window are eligible.
  • Each qualifying trade must be worth at least $10.
  • Only trades with probabilities below 80% qualify.
  • Trades at or above 80% probability will not be counted.
  • Trades are only counted once they have settled.
  • Trades placed using rewards will not be counted.

8. Plus500 - Best for low-fee trading

For users focused on keeping costs down, Plus500 charges a combined commission and exchange fee of only $0.02 per prediction contract. That low, fixed cost gives the platform a clear advantage for traders who value simple and transparent pricing.

The rest of the experience is equally straightforward. Markets are easy to browse, contract prices update as conditions change, and funding options such as debit cards and Apple Pay make getting started relatively convenient.

Key highlights

  • Low-cost $0.02 contract fee
  • Transparent pricing structure
  • Straightforward market navigation
Plus500 promo code SICOM: Trade $10, get $20

The Plus500 promo code is a great way to get started with this operator.

9. Crypto.com - Best for crypto users interested in sports

For anyone already holding crypto, Crypto.com folds event and sports markets into an ecosystem you're probably using anyway — a sharp contrast to PredictIt's debit-card-only, politics-only setup. It's a broader platform, but the event-trading side holds up well, and funding is effortless if you're already sitting on crypto.

It won't replace PredictIt's political-market depth, but it's a strong complement for anyone who wants exposure beyond politics without leaving their existing crypto wallet.

Key highlights

  • Large welcome bonus relative to the rest of this list
  • Easy funding for crypto-native users
  • Integrated sports and event ecosystem
Crypto.com promo image

You can also earn bonuses with the Crypto.com referral code.

How PredictIt compares to these alternatives

PredictIt isn't a bad platform; it's the longest-running political prediction market in the U.S. for a reason. But it was built and re-approved specifically as a small-scale, not-for-profit research tool, not a commercial trading product. When comparing Kalshi and PredictIt, this is what we found.

Where PredictIt still wins

  • Over a decade of political-market history and a loyal, politically engaged trading community
  • Available to traders in all 50 states, with less state-level pushback than sports-focused competitors have faced
  • Simple share-based pricing that's easy for first-time political forecasters to understand
  • Backed by an academic research consortium (advised by faculty from several US universities), which keeps its data widely cited by journalists and researchers
  • No crypto wallet required — funds trade in plain USD through a normal web account

Where alternatives beat PredictIt

  • Kalshi, Polymarket, ProphetX, OG.com, and Crypto.com all offer welcome bonuses; PredictIt offers none
  • Kalshi, Polymarket, ProphetX, OG.com, and Crypto.com also all offer built-in combo or parlay builders for multi-leg trading, making them some of the best prediction market parlay sites in the industry
  • PredictIt's $3,500-per-contract cap limits how far a single position can go; the alternatives above don't impose a comparable ceiling
  • PredictIt is restricted to political and policy events only. No sports, no crypto, no broader economic contracts
  • A combined 10% profit fee and 5% withdrawal fee stack higher than most competitors' fee structures
  • PredictIt's browser-based, dated interface trails the more modern apps built by Kalshi, Polymarket, and ProphetX

State-by-state and eligibility availability

PredictIt is currently accessible to eligible users in all 50 US states. Because it operates as a small-scale academic research market restricted to political and policy contracts, it has largely avoided the state gambling-regulator disputes that have hit competitors offering sports and entertainment contracts.

Kalshi, Polymarket, ProphetX, OG.com, and Crypto.com are broadly available nationwide but have faced state-level cease-and-desist actions and ongoing litigation in a handful of states over sports-related event contracts; that dispute is about sports contracts, not political ones, so it doesn't affect PredictIt's core offering. Eligibility can change quickly as courts rule, so always confirm current access on the platform itself before funding an account.

Platform State availability
PredictIt All 50 states
Kalshi All states (excl. Nevada)
Polymarket All states (excl. Nevada)
ProphetX All states (excl. Nevada)
OG.com All states except NY and AZ (users in IL, MA, MD, MI, NJ, NV, and OH are also not permitted to trade sports contracts)
Crypto.com All states except AR, AZ, CT, IL, LA, OH, MA, MD, MI, NV, and NY.

Complete list of PredictIt alternatives

Below are the best prediction markets that you can look into outside of Predictit. Our list includes several of the top prediction market platforms and the best NFL prediction market apps for the 2026-2027 NFL season. 

Platform Offer Promo code
Kalshi Trade $25, get $35 bonus SI35
Polymarket Deposit $10, get $50 bonus SIBONUS
Novig Deposit $10, get $25 bonus SIBONUS
ProphetX Trade $10, get $20 bonus SICOM
Underdog 50% deposit match up to $1,000 SICOM
Gemini Up to $100 in Predict Cash Applies automatically via our link
OG.com Trade $10, get $10 bonus Applies automatically via our link
Plus500 Trade $10, get $20 SICOM
Crypto.com Up to $2,000 in bonuses Applies automatically via our link
FanDuel Predicts $25 bonus TBD
Fanatics Markets TBD TBD
Robinhood Up to $200 in reward stock TBD
Sporttrade Up to a $100 bonus TBD
ROLR Coming soon TBD

You can also check out our other comparison pages:

You can also check out our DraftKings Predictions promo page, plus our ROLR promo code page will be updated as soon as a welcome offer becomes available.

Fee comparison: What you actually pay

PredictIt's fee structure is simple to describe but expensive to actually pay. It charges a 10% fee on realized profits any time you close a winning position, plus a separate 5% fee on withdrawals — and unlike a single flat commission, those two fees stack.

Fees PredictIt Kalshi Polymarket OG.com Crypto.com
Primary fee 10% on realized profit Variable per-contract 0.75% at the 50/50 price point Spread-based (0% explicit commission) Tiered (starts 0.4%–0.5%)
Maker fee/rebate None 0% (Standard) 20%–25% Rebate Competitive spreads Starts 0.25%
Contract price max $1 $1 or $100 $1  $1, $10, or $100 N/A (Standard Assets)
Early exit fee None (standard 10% profit fee applies whether you exit early or hold to close) Variable (Transaction) Taker/Maker rules $0.02 per contract Standard trading fee
ACH deposit Not supported (card-only; ACH used for withdrawals only) Free Free Free Free
Debit card fee Free 2% ($2 min) N/A Free 3.99%
Asset type USD (Fiat) USD (Fiat) USD (Fiat) USD (Fiat) Crypto/Fiat/Derivs

Example:

Say you put $100 into a contract and close it for a $200 balance, a $100 profit. PredictIt takes 10% of that profit ($10) before it hits your available balance. When you withdraw your full $290 balance, the 5% withdrawal fee takes another ~$14.50. Your actual take-home works out to roughly $75.50 of that original $100 gain, once both fees are applied.

Funding methods and payout speeds

PredictIt takes deposits by credit card only (Visa, Mastercard, Discover. No debit), but pays out via ACH transfer or mailed check, never back to a card. A one-time 30-day hold applies after your first deposit; after that, ACH runs twice a week (Tue/Fri) and checks go out a few times a month.

Platform Funding methods Payout methods Payout speed 
PredictIt Credit card only (Visa, Mastercard, Discover) ACH bank transfer or mailed check 30-day hold after first deposit; ACH processed twice weekly (Tue/Fri), checks ~2–3x/month
Kalshi Bank transfer, debit card Bank transfer Within 30 minutes
Polymarket Bank transfer, debit card, crypto wallet and fiat options converted via Moonpay Bank transfer or Crypto wallet Instant
ProphetX Aeropay, Paper wheck, Bank wire, Zerohash (crypto) Aeropay, Paper wheck, Bank wire, Zerohash (crypto) Within 24 hours
Novig Trustly, Aeropay, debit card, credit cards Trustly, Aeropay, debit card, credit cards Within 24 hours
OG.com Crypto and select digital wallets Crypto withdrawals Within 24 hours
Crypto.com Crypto, bank transfer, debit card Crypto + fiat options Within 2 hours

Yes, our top apps like PredictIt operate across the U.S., although legality and market offerings can vary by state. PredictIt operates legally in the United States, mainly because its regulatory footing differs from that of platforms like Kalshi or Polymarket.

PredictIt runs under a CFTC no-action letter rather than full exchange registration, which restricts it to political and policy contracts only — no sports. Because of that, PredictIt isn't a state-by-state sports betting alternative for places like:

If sports contracts are what you're after, Kalshi or Polymarket are the better fit — PredictIt simply doesn't trade in that space.

PredictIt's own legal status has been tested in court: the CFTC moved to shut the platform down in 2022, and a multi-year legal fight followed before a 2025 resolution (CFTC Letter No. 25-20) let it keep operating under an amended no-action framework, now run by a nonprofit research consortium instead of its original university sponsor.

To get the full breakdown of the differences, read our prediction markets vs. sports betting guide.

How we tested and ranked these apps

To build these rankings, we spent time trading on PredictIt and the top competing prediction markets under real market conditions. We compared liquidity, fees, market selection, and platform usability to determine which apps provide the best overall experience.

Our Scoring Categories

🌊 Market liquidity ⭐/5 — How easily positions can be entered and exited, including order book depth and pricing stability during high-volume news cycles.

📊 Market variety ⭐/5 — The breadth of available contracts, from PredictIt's politics-only lineup to the sports, finance, and crypto markets its competitors add on top.

💰 Fees and limits ⭐/5 — Profit fees, withdrawal fees, spreads, funding costs, and position caps.

🧑‍💻 User experience ⭐/5 — Interface design, ease of navigation, order placement, and overall usability.

🏦 Deposits and withdrawals ⭐/5 — Funding methods, payout methods, processing times, and any holding periods.

🎁 Bonuses and promotions ⭐/5 — Welcome offers, referral programs, and overall new-user value — an area where PredictIt offers nothing at all.

🤝 Resolution reliability ⭐/5 — How clearly and consistently markets settle, including transparency around disputed or voided contracts.

Tax reporting on PredictIt alternatives

How a platform structures its business — as a nonprofit research market, a registered exchange, or a crypto-settled venue — drives what tax paperwork you get and how much recordkeeping falls on you. Rules here shift often enough that a tax professional is worth the cost if you're trading in any real volume.

🗳️ PredictIt

PredictIt operates as a small-scale, not-for-profit research platform, and its tax paperwork reflects that scale. It hasn't consistently issued 1099s the way a commercial brokerage would, so gains are generally on you to track and report as taxable income. Since PredictIt now falls under a nonprofit research consortium rather than a traditional exchange, its treatment differs from the Section 1256 rules that can apply to Kalshi's event contracts.

🟢 Kalshi

As a CFTC-regulated exchange, Kalshi trades sit closer to conventional derivatives, and some contracts may qualify for Section 1256's 60/40 blended capital-gains treatment depending on the specific contract and your situation. Kalshi issues forms where its reporting obligations require it, but given how contract-dependent this treatment is, most active traders still loop in a tax professional.

🔵 Polymarket

Because Polymarket settles through crypto rails rather than a traditional brokerage pipeline, it doesn't issue standard forms like a 1099-B. That leaves cost-basis tracking, wallet activity, and gain calculations in your hands; crypto tax software tends to make that far more manageable if you're trading often.

🧙‍♂️ ProphetX

ProphetX operates under federal exchange oversight and may issue a 1099-MISC or similar form once you cross reporting thresholds. Even without a form in hand, profits from ProphetX trading remain taxable; keeping your own record of deposits, trades, and withdrawals throughout the year helps avoid surprises later.

🟠 OG.com

What paperwork you get from OG.com depends on both your trading volume and the platform's own reporting thresholds. Some traders receive documentation; others must self-report gains and losses. Either way, tracking your own activity throughout the year makes filing considerably less painful.

🪙 Crypto.com

Crypto.com can issue a broader mix of forms, including 1099-MISC and 1099-DA, since its ecosystem spans crypto trading, derivatives, staking, and event markets in a single account. That range makes recordkeeping more involved than on a single-purpose platform, though Crypto.com's transaction export tools plug into most popular crypto tax software.

🚩 Red flags: Apps like PredictIt to avoid

Choosing the right prediction market involves more than comparing bonuses or market selection. It's also important to look for a platform with transparent operations, secure trading, and a strong reputation.

Make sure to keep an eye out for the following:

  • 🕵️ No clear information about regulation or licensing
  • 🚫 Not federally regulated or transparent about how they operate
  • 🌊 Poor liquidity that makes contracts difficult to enter or exit
  • 🏦 Limited withdrawal methods or unusually slow payouts
  • 📢 Aggressive marketing promising "easy money" or guaranteed returns
  • 💸 Very little explanation of fees, pricing, or how markets work
  • ⚠️ Negative user reports involving frozen accounts or delayed withdrawals

Legitimate prediction market platforms should clearly explain their regulatory status, how user funds are handled, and how their markets function before you deposit any money.

Responsible trading

Set a budget before you trade, and treat prediction markets, political or otherwise, as entertainment, not a guaranteed income source. If trading starts to feel like a strain on your finances or day-to-day life, that's a sign to step back and reach out for support.

Resource Support offered
National Problem Gambling Helpline 24/7 confidential support and referrals
Gamblers Anonymous Peer support meetings and recovery groups
Responsible Gambling Council Education, prevention, and responsible gambling resources

Apps like PredictIt FAQ

What is the closest app to PredictIt?

Kalshi is the closest CFTC-regulated alternative for politics and current events, with a similar contract style but none of PredictIt's $3,500 position cap or dual profit/withdrawal fees.

Is Kalshi better than PredictIt?

It depends on what you want. Kalshi is a fully registered exchange with sports, economics, and politics all in one app, plus a welcome bonus; PredictIt is a narrower, politics-only research market with no bonus and a lower position ceiling.

Can I use PredictIt and another app at the same time?

Yes, many traders keep a PredictIt account for its long-running political markets while using Kalshi or Polymarket for sports, bigger position sizes, or a welcome bonus.

Why does PredictIt have a $3,500 limit — do alternatives have higher caps?

PredictIt's limit is tied to the federal individual campaign-contribution cap under its CFTC no-action letter, since it's structured as a small-scale academic research market rather than a commercial exchange. Kalshi, Polymarket, and ProphetX don't operate under that same restriction.

Is PredictIt shutting down?

No, PredictIt is currently operating under an amended CFTC no-action letter (Letter No. 25-20, issued July 2025) after surviving a multi-year legal battle that began with a 2022 CFTC attempt to shut it down. It remains a narrower, research-oriented platform rather than a fully registered commercial exchange.