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Best prediction markets for beginners

A first prediction market should make three things easy: knowing who supervises the venue, paying in and out with ordinary money, and trading from a phone. This list keeps to platforms that do all three — regulated exchanges and brokers with their own iOS or Android app — ranked by Editor Score. Where you live decides what you can use; platforms closed to you sink to the bottom.

Updated

Ranked platforms

  1. Kalshi

    7.7/10preliminary
    Regulated✅ Available

    KalshiEX is a CFTC-designated contract market and its Member Agreement names no US state as restricted. State court orders block some contract categories in Nevada, Washington and Michigan; elsewhere its contracts are available. Kalshi is in litigation with about 20 states, so this can change quickly.

    Visit site →Read review

  2. OG

    7.1/10preliminary
    Regulated✅ Available

    Help centre: “currently available in all U.S. states”, though some event contracts may be unavailable in some states (not named). App Store: “Available in all 50 US states”. New York has separate funding and portfolio articles.

    Read review

  3. Novig

    6.4/10preliminary
    Regulated✅ Available

    “Novig is available nationwide, except in Arizona, Nevada, and Michigan.” Eligibility is based on physical location at the time of trading, and users must be 21 or older.

    Read review

  4. FanDuel Predicts

    6.2/10preliminary
    Broker✅ Available

    FanDuel Predicts is available in all 50 states and DC. Users must be 18+ and verify their identity. It is not available on or near tribal land.

    Visit site →Read review

  5. Crypto.com Prediction Markets

    5.8/10preliminary
    Regulated✅ Available

    Prediction Trading (and Sports Event Trading) is a CFTC-regulated feature of the Crypto.com App, offered through Crypto.com | Derivatives North America. The help centre says it is available in the US only.

    Visit site →Read review

  6. Polymarket US

    7.3/10preliminary
    Regulated⚠️ Restrictions

    QCX LLC publishes no list of eligible or excluded states. A Nevada court granted a preliminary injunction against QCX LLC d/b/a Polymarket US on 29 May 2026 (Nevada Gaming Control Board). Missouri's Attorney General has sent a cease-and-desist over sports contracts, and New York has announced a lawsuit; neither state is marked closed because the operator has not said it geoblocks them.

    Read review

  7. ProphetX

    6.0/10preliminary
    Regulated⚠️ Restrictions

    ProphetX says it is “available nationwide” but publishes no excluded-state list; its help centre says access “is restricted from certain locations and IP addresses”. Connecticut reportedly ordered it to stop offering sports contracts to residents (September 2026); the order could not be read on the regulator’s site.

    Read review

  8. Underdog Predictions

    5.3/10preliminary
    Regulated⚠️ Restrictions

    Only in states where Underdog Predict operates: "Must be 18+ and present in a state where Underdog Predict operates". The operator's state list (help centre) could not be read, so other states are unconfirmed.

    Read review

Every platform reviewed

1. Kalshi

CFTC-regulated event contract exchange

7.7Prelim

Strengths

  • CFTC-designated contract market
  • Fiat deposits and withdrawals, no wallet needed
  • Default maker fee is zero, with charged series exceptions
  • Mobile apps on both platforms

Watch out

  • Country restrictions and account approval apply to international users
  • Narrower market selection than on-chain venues
  • KYC required before you can trade
  • Trading fees vary by contract price and series
$10
Min deposit
Taker 0.07·P·(1−P) — 1.75¢ at 50¢
Fees
7
Markets
2021
Since
Go to Kalshi →Full review

2. OG

Crypto.com’s standalone prediction-market app, listed on the NADEX/CDNA exchange

7.1Prelim

$1
Min deposit
Taker 7%×P(1−P), maker 1.75%×P(1−P) /contract
Fees
6
Markets
2026
Since
AvailableFull review

3. Novig

CFTC-designated peer-to-peer sports prediction market (Ludlow)

6.4Prelim

0% maker · taker fee on live and futures
Fees
1
Markets
2024
Since
AvailableFull review

4. FanDuel Predicts

FanDuel event contracts listed by CME Group and Crypto.com

6.2Prelim

Strengths

  • Contracts are listed and settled by CME, an established derivatives exchange, under a published rulebook chapter
  • Per-product contingencies are concrete and state what happens to an open position
  • The arbitration agreement expressly preserves CFTC reparations under Section 14
  • Exchange documents are public through CFTC filings and readable without an account

Watch out

  • For every sports, entertainment and awards contract, CME’s certified table gives the settlement source as “Fanduel” — the firm distributing the contract
  • No document describes how that data is produced or what happens if it is wrong
  • FanDuel’s public Predicts pages never say who determines outcomes, never cite the governing chapter and never mention the source
  • A catch-all lets the exchange set a settlement price in “sole discretion”
  • One sports contingency changed from cancelling positions to liquidating them at fair value while keeping the same label
  • No determination log is required or published anywhere
2¢ per $1 of potential payout; same to cash out
Fees
4
Markets
2025
Since
Go to FanDuel Predicts →Full review

5. Crypto.com Prediction Markets

USD-settled event contracts in the Crypto.com app, listed by CDNA

5.8Prelim

Strengths

  • Contract specifications are filed with the CFTC, so they need no account to read and cannot be quietly edited
  • The elections contract names fourteen source agencies individually rather than gesturing at “official sources”
  • The delay contingency is written out: settlement waits until the source releases the outcome
  • Sits inside an app many US readers already have, with no separate account to open

Watch out

  • We could not locate CDNA on the CFTC’s own Designated Contract Market register, so no licence is claimed on this page
  • The CDNA rulebook, which the filings defer to for jurisdiction and enforcement, could not be retrieved
  • The fourteen source agencies apply “as determined by the Exchange”, so the authoritative outlet is chosen after the fact
  • No public record of past determinations was found
  • Available in the United States only
$0.01–$0.0175/contract taker · 0% maker
Fees
5
Markets
Go to Crypto.com Prediction Markets →Full review

6. Polymarket US

CFTC-regulated US event-contract exchange run by QCX LLC, USD only

7.3Prelim

Taker ≤$1.74 per 100 at 50¢ · maker rebate
Fees
7
Markets
RestrictedFull review

7. ProphetX

CFTC-designated sports-first exchange, peer-to-peer order book

6.0Prelim

$10
Min deposit
2% of net gains per market
Fees
2
Markets
2026
Since
RestrictedFull review

8. Underdog Predictions

Underdog's own CFTC exchange (UDX) plus Kalshi access, inside the Underdog app

5.3Prelim

UDX taker max $1.75/100 at 50¢; maker $0.44
Fees
1
Markets
2025
Since
RestrictedFull review

Jump to

Prediction market apps compared

iOS and Android availability, the documented minimum deposit and the fee schedule for every app on this list. “Not recorded” and “Not stated” mean the operator’s documents did not settle it — not that the answer is no.

AppBest foriOSAndroidMin depositTrading feesScoreBonus
Kalshi—YesYes$10Taker 0.07·P·(1−P) — 1.75¢ at 50¢7.7Terms
OG—YesYes$1Taker 7%×P(1−P), maker 1.75%×P(1−P) /contract7.1—
Novig—YesYesNot stated0% maker · taker fee on live and futures6.4Terms
FanDuel Predicts—YesYesNot stated2¢ per $1 of potential payout; same to cash out6.2Terms
Crypto.com Prediction Markets—YesYesNot stated$0.01–$0.0175/contract taker · 0% maker5.8—
Polymarket US—YesYesNot statedTaker ≤$1.74 per 100 at 50¢ · maker rebate7.3Terms
ProphetX—YesYes$102% of net gains per market6.0Terms
Underdog Predictions—YesYesNot statedUDX taker max $1.75/100 at 50¢; maker $0.445.3—

How to choose

Start with one small trade you understand. An event contract pays a fixed amount if the outcome happens and nothing if it does not, so a contract bought at 40¢ loses the whole 40¢ if it settles No. Our lesson on how to read contract prices works through one.

Look at the fee on that first trade, not only the headline rate: the true cost of a trade explains spread and fees, and the fees table prices the same trade on every platform.

If you would rather practise without money, Manifold runs markets in play money; its mana cannot be converted to cash. And before you deposit anywhere, check whether prediction markets are legal where you live.

Not sure which kind of platform you want? Find my platform narrows the list from a few answers: where you live, how much you want to start with and what you want to trade.

Frequently asked questions

What is the best prediction market for beginners?

The platform at the top of this list for your region. We include only regulated exchanges and brokers that ship their own iOS or Android app, and order them by Editor Score, so the answer changes when a score does rather than when a commission does.

How much money do I need to start?

Less than many people expect: several regulated venues publish a minimum deposit of $10 or less. Our low-minimum-deposit list ranks the platforms whose own documents state one.

How much can I lose on a prediction market?

When you buy an event contract you pay its price up front. If it settles against you, you lose what you paid for it, plus any fees. Only trade amounts you can afford to lose.