Prediction market licences: who regulates each platform

Frequently asked questions

Which prediction markets are regulated?

Of the 56 platforms we review, 9 are regulated exchanges and 5 are brokers or apps that give access to one. 45 state no licence of their own — mostly on-chain venues and play-money sites. The table names the regulator and the exact legal entity for each.

Which prediction markets are regulated by the CFTC?

Platforms whose licence line names the CFTC: Kalshi, OG, Polymarket US, Novig, Underdog Predictions, ProphetX, DraftKings Predictions, FanDuel Predicts, Interactive Brokers ForecastTrader, Onyx Odds (Onyx Predictions) and 1 more. CFTC status attaches to a legal entity, so check the entity in the table against the CFTC’s own register.

What is the difference between a regulated and an offshore prediction market?

A regulated exchange is registered with a regulator — in the US, designated by the CFTC — and must follow a published rulebook, watch its own markets and keep customer funds segregated. An offshore or on-chain venue answers to no such regulator for its US users, usually excludes them in its terms, and leaves disputes to its own process.

Is a broker as safe as a regulated exchange?

It depends on the broker’s own registration. A futures commission merchant holds your funds and is registered with the CFTC and the NFA; an introducing broker passes your orders on and should not hold funds; an app that calls itself a software vendor may not be registered at all. The table says which each one is.