The 5 Best Prediction Markets for Sports Fans Who Want to Trade the Game
Sports betting is changing as it is no longer just about locking in odds and sweating a ticket until the final whistle.
A new class of platforms is gaining some serious steam and disrupting everything you thought you knew about sports betting — prediction markets. These platforms allow you to trade event contracts on sports outcomes instead of placing traditional wagers. The format looks simple on the surface as it’s somewhat similar to traditional betting. You buy a Yes or No contract tied to a specific outcome of a game or player prop. If the event happens, the contract settles at $1. If it doesn’t, it settles at $0.
The twist in this model is in the pricing.
Contracts trade between $0.01 and $0.99. A 62-cent “Yes” price implies roughly a 62% chance of that outcome, at least that’s what the market thinks the chances are. You’re not betting against the house like at a sportsbook, instead, you’re buying and selling positions in a marketplace. And in most cases, you can exit early by selling your contract before the game ends.
That changes everything.
Instead of being stuck with a ticket and having to ride it out, you can react to injury news, line moves, momentum swings, or even public sentiment, which makes these markets feel much closer to trading a stock than placing a bet.
As you’d expect, another major dividing line in this space is regulation. Some of the bigger platforms operate under the federal derivatives framework, which is overseen by the Commodity Futures Trading Commission (CFTC). Others began as crypto-first platforms and are now working through regulations in the US so they can begin taking trades in the US market. That difference affects availability, identity checks, custody of funds, and state access.
Kalshi Prediction Market
Kalshi is one of the most established names in US event contracts and they continue to grow every week. It operates as a federally regulated exchange under the CFTC’s derivatives framework, which is a very big deal. It means Kalshi runs as a marketplace where users trade with each other and it does not set odds like a sportsbook — so they don’t have to play by the same rules as a sportsbook.
From a structural standpoint, Kalshi looks more like a financial exchange than a betting site. Users buy or sell Yes/No contracts tied to outcomes of games, events, etc. If you buy “Yes” at $0.45 and the contract settles in your favor, whether that’s a yes or no, you receive $1. If it settles against you, you receive $0. So that contract or share that you purchased at $0.45 is now settled at $1.00, that’s a $0.55 increase in value.
What sets Kalshi apart in sports is its role in the ongoing federal versus state debate over sports-style event contracts. Some states have pushed back on the platform, arguing that certain sports markets resemble sports betting. That tension has led to availability quirks, which means it’s not available in states such as Arizona, Illinois, Massachusetts, Maryland, Michigan, Montana, New Jersey, and Ohio. As you’d expect, availability can shift from month to month as legal battles play out.
On the sports side of the house, Kalshi markets often feel like simplified futures or game outcomes framed as simple binary questions. Think “Will the Blue Jackets beat the Bruins tonight?” or “Will the New York Yankees make the playoffs?” Prices move as news breaks. An injury report can shift a contract from $0.55 to $0.70 in just minutes and that could be a hefty payout if you’re on the right side of the news.
The real advantage of Kalshi is flexibility. You can buy early in the week and sell after a positive development or you can trim off some risk before kickoff. That active trading element is something sportsbooks rarely offer in a meaningful way, though some will allow early payouts in the right conditions.
For sports fans who like thinking in probabilities and reacting to information quickly, or those in states where sports betting is prohibited, Kalshi feels like a bridge between Wall Street and game day.
Fanatics Markets
Similar to Kalshi, Fanatics Markets sits at the intersection of sports, finance, and culture. That positioning makes sense when you consider the broader Fanatics ecosystem they’ve built over the years. This isn’t a standalone niche startup. It’s plugged into a massive sports commerce brand that continues to grow and evolve.
Like other platforms in this category, Fanatics Markets uses simple Yes/No event contracts. You buy a position at a given price, and if you choose, you can add to it or sell it before settlement. The language in the app is consumer-friendly, but under the hood, it’s still trading contracts.
One of the biggest differentiators with Fanatics is distribution. Fanatics has rolled out the product in phases, more like a fintech app than a sportsbook, chasing state-by-state gaming licenses. They’re available in dozens of states and continue to grow.
Sports markets on Fanatics tend to mirror familiar betting categories such as game winners. Team totals framed as “Will the Bruins score more than 3 goals?” Simple stat thresholds, but instead of locking in odds, you’re trading price movement just like on the stock market.
Think of it like this. You can buy “Yes” at $0.48 on a team to win, and then, unexpectedly, a star on the other team gets ruled out. The contract jumps to $0.65, and you can sell and capture the gain before the game even starts. You’re essentially making money before the game.
That early exit feature is one of the biggest themes across prediction markets. Sure, you can buy at a price and ride it out for the game if you’d like, but for sports fans used to sweating every possession, the option to manage risk dynamically is a refreshing shift.
Polymarket Prediction Market
Polymarket is one of the most well-known operators in this space as it’s built its reputation as a crypto-native prediction platform with deep liquidity and fast-moving markets. It became especially known for reacting quickly to news events, but that also includes sports. However, they haven’t been operating in the US for a while.
The current story is its path back into the US market through CFTC-regulated exchange infrastructure. After acquiring a CFTC-licensed venue and receiving approval to relaunch in an intermediated model, Polymarket positioned itself to operate within a regulated framework for US users just like the other operators.
That intermediated structure means access runs through regulated brokers or futures commission merchants rather than a purely open crypto wallet system that they relied upon. It aligns the platform more closely with traditional derivatives markets, at least for gamers in the US market.
Sports markets on Polymarket typically include straightforward moneyline-style questions and futures, as opposed to props, but with its popularity, the appeal has always been liquidity and speed. Prices adjust rapidly to injury reports, lineup changes, and public sentiment, so there’s a real opportunity to rack up some cash.
Because Polymarket historically attracted active traders, price movement can feel a little sharper than the competition. For sports traders who want a more market-driven atmosphere, opposed to the sports betting atmosphere, that can be an attractive option.
As with other prediction market platforms in the industry, federal approval does not always mean friction-free access in every state. State-level challenges have been part of the broader event contract conversation.
Nonetheless, Polymarket remains one of the most recognized names, especially among those comfortable with trading-style platforms.
FanDuel Predicts
FanDuel Predicts is built by one of the largest sportsbook operators in the United States, but it has evolved, and it operates in a different regulatory lane.
FanDuel explicitly positions Predicts as a derivatives or event contracts product, separate from its sportsbook licensing structure that many bettors are familiar with. That means, unlike the FanDuel Sportsbook and Casino, this product is available in all 50 states as well as Washington DC.
That nationwide footprint is a major differentiator and a big reason why they’re continuing to grow at a rapid rate.
For users in states without legal sports betting, Predicts offers a way to trade sports-related event contracts within a federally structured framework. Of course, you can always try your luck at an offshore sportsbook, but they’re not regulated, and you’re taking a risk of ever seeing your payouts. We don’t recommend that. However, if you want the thrill of betting, FanDuel Predicts can definitely deliver.
The interface is designed for casual sports fans and like all prediction market platforms, you choose Yes or No, buy at the current price, and manage your position. It’s that simple. You can hold to the settlement or sell early if the market moves in your favor or if you’re trying to salvage a bet.
Because FanDuel already has a massive audience, Predicts feels less like a niche trading tool and more like a mainstream extension of their current sports fandom. It lowers the learning curve by a lot and if you’ve used a sportsbook app before, the transition feels natural.
DraftKings Predictions
DraftKings took a similar path with DraftKings Predictions, a standalone app focused on event contracts. The company has described it as a separate lane from its sportsbook and DFS products, though it has a similar feel.
One notable feature is its exchange-connected approach. DraftKings has said it connects to major venues beginning with CME Group and plans to expand connectivity into many more venues. That signals an ambition to build deeper market infrastructure over time and that they’re going all in on the industry.
Availability is already in 38 states, including large states like California, Florida, Georgia, and Texas, for this product category. However, market types can vary by state so you might not have the same types of contracts in one state as you might in another. In some locations, all markets may be available, while in others, sports markets could be limited or restricted.
The trading process is the same as the other platforms — Find a market, pick Yes or No. Buy, manage, sell, or hold. It’s a formula that seems to be working and opens up the market for betting enthusiasts who can’t bet at a legal online sportsbook.
For sports bettors, DraftKings Predictions is designed to feel familiar to their other platforms. The prompts resemble moneyline and futures bets, but under the hood, the mechanics are different. You are managing a position, not locking a bet slip.
That means you can scale in and you can hedge by selling part of your position. You can reduce exposure before the fourth quarter if momentum shifts and you capture it in time before other traders. It adds a layer of strategy that traditional betting slips do not offer.
For users already comfortable with DraftKings’ ecosystem, this product feels like a natural extension and an easy one to jump on.
How Sports Picks Behave Differently Here
Across all 5 platforms, the biggest change from a sportsbook is how a “pick” behaves.
On a sportsbook, you place a wager at fixed odds and you’re going against the book. The ticket sits there until the event ends and you win or lose.
On a prediction market, your position has a live price that is constantly fluctuating. If you buy at $0.40 and the contract moves to $0.55, you can sell and realize the gain immediately. You do not have to wait for final settlement, though you have that option if you so choose.
That shifts the mindset from pure gambling to active risk management, but you’re essentially getting the same endorphin hit.
For bettors, prediction markets are not a total and true replacement for sportsbooks as they’re a different tool. One that treats sports outcomes like tradable assets.
If you like thinking in percentages, reacting to news, and managing positions in real time as you would in the stock market, these platforms offer a new way to engage with the games you already watch.
The scoreboard still matters, but now, so does the price.
Matt Brown
Head of Sports Betting and DFS
Matt’s love for sports betting and daily fantasy sports, coupled with a deep understanding of football, hockey, and baseball, shapes his innovative thoughts on Hello Rookie. He has a B.S. in Aeronautical Computer Science and a M.S. in Project Management.
