Platform review
ProphetX review
CFTC-designated sports-first exchange, peer-to-peer order book
In United States: 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.
Our verdict
A sports-first exchange designated by the CFTC on 11 June 2026 and live from 18 June, which also runs its own clearing house — traders face the exchange directly, with no broker in between. It charges 2% of net gains per market on straight trades rather than a per-contract fee, with rebates for high-volume makers. It says it is available nationwide but publishes no excluded-state list, and state regulators including Connecticut have reportedly ordered sports-contract operators to stop serving their residents. Political contracts were self-certified in September 2026. Not scored yet — we have read its documents, not traded on it.
Verified documents & product scope
Check country eligibility
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Where is ProphetX available?
Users must be "over 18 of age or the minimum legal age of majority whichever is higher" in their jurisdiction (Terms of Use s.3.1, v1.0, 10 June 2026), must hold a US bank or payment account in their own name, and must not be on the OFAC sanctions list (Rulebook Rule 3.1). The operator says it is "available nationwide" (launch press release, 18 June 2026) and publishes no list of excluded states. Its help centre says only that access "is restricted from certain locations and IP addresses as part of our compliance requirements".
What fees does ProphetX charge?
Single-event (straight) trades: "All straight trades on site will be charged a 2% trading fee on net gains per market" (prophetx.co Trading Fees page, v1.2, updated 24 Sep 2026; also the help centre's Understanding Fees page). The CFTC self-certification words this as "2% of net proceeds ... calculated on a per-market basis upon settlement" (ProphetX LLC filing, 12 June 2026, extended 14 Aug 2026). The same filing sets a monthly make-volume rebate on fees paid: 0% up to $50k, then 20%, 40%, 60% and 80% marginal tiers above $7.5M. Parlay contracts: the fee is charged only to the taker, using F(p) = 0.014 x (1-p)/(0.19+p) + 0.004 per contract, with a $0.01 minimum. The help centre says "If your resting order is filled by an incoming order (a maker order), you are not charged a trade fee." The minimum deposit is $10 (help centre). Neither the operator's help centre nor its terms list a deposit or withdrawal fee, and the EdgeBoost deposit route is described as having "no fees". Terms 6.11: "Your access to Account funds will automatically expire in the event an Account becomes Dormant", where dormant means 60 days with no trading.
These are document checks, not a funded-account test. Access may depend on residence, physical location, account approval and the contract category. Check the operator’s current terms before depositing.
Learn how play-money and real-money markets differ, use the fee and payout tools, or read our review methodology.
See our Platform documentation audit for the method and downloadable source register.
- CFTC Order of Designation - ProphetX LLC (11 June 2026) — checked
ProphetX LLC, "a Delaware limited liability company headquartered in New York, New York", was designated a contract market: "Issued in Washington, D.C., this 11th day of June, 2026." FCMs may not intermediate.
- CFTC Industry Filings: DCM filing 58754 (ProphetX LLC) — checked
"Organization: ProphetX LLC Status: Designated Date: 2026-06-11".
- CFTC Industry Filings: Derivatives Clearing Organizations — checked
ProphetX LLC is "Registered 06/10/2026 - Registered by Commission order; permitted to clear fully collateralized futures, options on futures, and swaps."
- ProphetX press release: CFTC approval (PR Newswire, 11 June 2026) — checked
Announces DCM and DCO approval. The CEO says it positions ProphetX "to become the first sports-native direct-clearing prediction market in the United States".
- ProphetX press release: Launches Nationwide (PR Newswire, 18 June 2026) — checked
Launch of the regulated product on 18 June 2026, "available nationwide" on iOS, Android and web. The release names no excluded states.
- ProphetX press release: Seeks CFTC approval (PR Newswire, 10 Nov 2025) — checked
DCM/DCO applications filed in November 2025. The company was founded in 2018 and is based in New York. The release does not mention the sweepstakes product.
- ProphetX Terms of Use v1.0 (10 June 2026) — checked
The contracting party is ProphetX LLC. 3.1: "You are over 18 of age or the minimum legal age of majority whichever is higher". 6.11 says account funds expire after 60 days with no trading. Disputes go to JAMS arbitration with a class waiver.
- ProphetX Market Participant Agreement v1.0 — checked
4.1: individuals must be "at least the age of majority in your jurisdiction (and at least 18 years old)" and must hold a bank or payment account in their own name.
- ProphetX Rulebook v3.0 (29 July 2026, PDF) — checked
Rule 3.1: all participants are "direct self-clearing Market Participants". Applicants must pass identity/AML checks, hold a US financial institution account and pass OFAC screening. "ProphetX DCO shall accept United States dollars as Collateral." The rulebook contains no state exclusion list.
- ProphetX Trading Fees page v1.2 (24 Sep 2026) — checked
"All straight trades on site will be charged a 2% trading fee on net gains per market." Parlays follow a separate Fee Schedule for Parlay Contracts.
- Help centre: Understanding Fees (updated 19 Aug 2026) — checked
The parlay fee is charged only to the taker: "a maker order ... you are not charged a trade fee". Formula F(p)=0.014(1-p)/(0.19+p)+0.004 per contract, with a $0.01 minimum.
- CFTC self-certification: Trading Fee Schedule and Make Volume Fee Rebate Program (12 June 2026; extension 14 Aug 2026) — checked
"A trading fee of 2% of net proceeds is assessed on each single-event contract", effective 29 June 2026. Monthly maker rebate runs from 0% to 80% marginal. At that date, multi-event contracts and RFQs were "not currently subject to trading fees".
- Help centre: Available Payment Methods - Deposits (updated 23 Sep 2026) — checked
Debit card, Apple Pay, Google Pay and cash at retail (all via PayNearMe), EdgeBoost, Aeropay online banking, crypto via Zerohash, and wire ($1,000+). "ProphetX's minimum deposit is $10." "Credit Cards are NOT accepted".
- Help centre: How Long Do Deposits Take? — checked
"Deposits are processed instantly". "There is a $10 minimum for any deposit."
- Help centre: Available Payment Methods - Withdrawals — checked
Withdrawal methods are Aeropay online banking, paper check (7-14 days) and wire ($5,000+, "may take up to 72 hours"). Withdrawals must go to an account in the holder's own name.
- Help centre: How Long Do Withdrawals Typically Take? — checked
"Most withdrawals are processed within twenty-four hours", though some "can take up to 5 business days". Instant withdrawal is available for some banks.
- Help centre: Account Verification — checked
If automatic verification fails, the user uploads ID front and back plus a selfie and enters an SSN ("a regulatory requirement under applicable KYC/AML obligations"). Review usually takes a few hours, up to 24.
- Help centre: Why Can't I Access ProphetX? — checked
"Access to ProphetX is restricted from certain locations and IP addresses as part of our compliance requirements." The page does not list the restricted locations.
- Help centre: New Market Participant Bonus Program (updated 17 Sep 2026) — checked
"The Exchange will credit an aggregate of $75.00" in three $25 instalments after $50 of qualifying trades. The program ends by 31 Dec 2026.
- Help centre: Market Participant Referral Program — checked
"The Referred Market Participant will receive a credit of $25.00". The referrer gets $25, rising $5 per referral to a $50 maximum.
- Help centre: What Types of Orders Can I Submit on ProphetX? — checked
"ProphetX currently offers Moneyline, Spread, and Total event contract markets" on MLB, NHL, NBA, NFL, college football and basketball, UFC, tennis and major soccer leagues, plus golf, NASCAR props and futures.
- ProphetX Filings page (product and rule filings) — checked
Product filings dated 2 Sep 2026 cover US political contracts: Senate, House, gubernatorial, mayoral, chamber control and balance of power. Other filings are sports contracts such as EuroLeague and FIBA.
- ProphetX CFTC certification: U.S. Congressional Chamber Control Contracts (2 Sep 2026) — checked
Certifies binary contracts on "whether a named political party is declared to have won control of a Chamber". They settle using AP as the primary source and Decision Desk HQ as the secondary.
- ProphetX partners page — checked
"Use ProphetX REST and WebSocket APIs to embed sports prediction markets". Marketing claims include "$2B+ TRADED · ALL-TIME", "50 STATES LICENSED" and "0.4s MEDIAN MATCH TIME".
- ProphetX APIs developer hub — checked
Lists five APIs, including a Trading API ("Orders, odds & wallet management") and a Market Data API ("Read-only market & event data"). The page does not say how access is granted.
- Apple App Store: ProphetX Prediction Market — checked
The seller is "ProphetX OpCo LLC", rated 18+, and the listing says "Federally regulated. Live nationwide."
- Google Play: ProphetX Prediction Market — checked
The listing says the market "is available Nationwide" and was updated 19 Sep 2026. The package id is still com.prophetxsweepstake.
- Help centre: ProphetX Prediction Market Support — checked
Phone 570.707.7912, email hello@prophetexchange.com. "Our Customer Experience team is available 7 days a week, 8:00 a.m. – 10:00 p.m. EST."
- Missouri AG press release: cease and desist to prediction markets (Sep 2026) — checked
The letters went to Polymarket, Kalshi, Crypto.com, Novig, Underdog and Robinhood. ProphetX is not named.
Prices and liquidity
We do not currently publish live quotes for ProphetX. Check the platform’s order book before placing an order: the last trade can differ from the price available for your position size.
How to assess liquidity and spreads →ProphetX promo code: what ProphetX’s own terms say, and what it is worth →
ProphetX FAQ
- What fees does ProphetX charge?
- Single-event (straight) trades: "All straight trades on site will be charged a 2% trading fee on net gains per market" (prophetx.co Trading Fees page, v1.2, updated 24 Sep 2026; also the help centre's Understanding Fees page). The CFTC self-certification words this as "2% of net proceeds ... calculated on a per-market basis upon settlement" (ProphetX LLC filing, 12 June 2026, extended 14 Aug 2026). The same filing sets a monthly make-volume rebate on fees paid: 0% up to $50k, then 20%, 40%, 60% and 80% marginal tiers above $7.5M. Parlay contracts: the fee is charged only to the taker, using F(p) = 0.014 x (1-p)/(0.19+p) + 0.004 per contract, with a $0.01 minimum. The help centre says "If your resting order is filled by an incoming order (a maker order), you are not charged a trade fee." The minimum deposit is $10 (help centre). Neither the operator's help centre nor its terms list a deposit or withdrawal fee, and the EdgeBoost deposit route is described as having "no fees". Terms 6.11: "Your access to Account funds will automatically expire in the event an Account becomes Dormant", where dormant means 60 days with no trading.
- Is ProphetX regulated?
- ProphetX LLC, a Delaware LLC headquartered in New York, was designated a contract market by CFTC order: "the application of ProphetX for designation as a contract market is approved", issued 11 June 2026 (CFTC Order of Designation, read 2026-09-28). The CFTC's DCO filings register lists ProphetX LLC as "Registered 06/10/2026 ... permitted to clear fully collateralized futures, options on futures, and swaps" (CFTC DCO industry filings, read 2026-09-28). The order bars any FCM from intermediating: participants trade directly and are "direct self-clearing Market Participants" (ProphetX Rulebook v3.0, Rule 3.1(a), read 2026-09-28). Before designation ProphetX ran a sweepstakes product. Arizona (April 2025) and Connecticut (September 2026) are reported to have issued cease-and-desist orders, but we could not read either regulator's own page (both blocked).
- Who can use ProphetX?
- Users must be "over 18 of age or the minimum legal age of majority whichever is higher" in their jurisdiction (Terms of Use s.3.1, v1.0, 10 June 2026), must hold a US bank or payment account in their own name, and must not be on the OFAC sanctions list (Rulebook Rule 3.1). The operator says it is "available nationwide" (launch press release, 18 June 2026) and publishes no list of excluded states. Its help centre says only that access "is restricted from certain locations and IP addresses as part of our compliance requirements".
- What is the minimum deposit on ProphetX?
- $10, as stated in ProphetX’s published terms. This is the documented figure, not one we have confirmed with a funded account.
- Does ProphetX require identity verification (KYC)?
- Yes. At account opening. Identity is checked automatically, with ID, selfie and SSN upload if that fails. The help centre says "Accounts that are pending verification ... will not be able to make a deposit, trade, or withdrawal." Wires also need a bank statement, ID and a selfie holding the ID.
- Does ProphetX have a mobile app?
- Yes. ProphetX has apps for iOS and Android.
- Does ProphetX have an API?
- Yes. ProphetX documents a public API for market data and trading.
- What can you trade on ProphetX?
- Event contracts on sports and politics. Individual markets open and close, so check the live list before depositing.
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