Prediction markets are rapidly becoming mainstream in the US betting space, and one site helping drive that shift is ProphetX. The CFTC registered this site, and it lets users buy and sell contracts based on an event’s outcome. ProphetX focuses on sports-native prediction markets, offering event contracts on sports including NFL, NBA, soccer, and combat sports.
But while this prediction market will be appealing for sports fans, they may be people who are looking for a broader range of markets that cover politics, the economy, or even pop culture. There are platforms available that offer alternative approaches, allowing users to trade on a huge range of markets and other real-world events. We have pulled together a list of alternatives to ProphetX that allows you to easily compare this platform with other leading US prediction markets.
Best ProphetX Alternatives
First, let’s begin with the biggest standout features from ProphetX, which will help provide context for our list of alternatives. This was previously a social sportsbook before it received the necessary approval from the CFTC to launch a prediction market. ProphetX is renowned for the strong range of bonuses it offers, with the value found in the EV of the markets themselves. The ProphetX app covers all of the most popular sports in the US, with some specials also available depending on the time of the year.
One of the most important things to note is that ProphetX doesn’t offer typical prediction market Yes/No contracts. Instead, it has been designed to look like a sportsbook, with contracts for Team A spread, Team B spread, and not Team A spread; yes/no. This is clearly targeted at those who come from a conventional sports betting background and may be new to prediction markets.
#1. Robinhood
Robinhood is a popular trading app that launched in 2013 but has since added a significant sports prediction market section to its app. It has low fees and is very similar to Crypto.com, with the biggest difference being that this is a trade-based platform, and not a blockchain one. Robinhood allows you to trade contracts on events such as midterms, primaries, climate, commodities, crypto, economics, entertainment, and even metals. Although its main focus is on sports, it has some of the most diverse markets available on any prediction market site.
For sports, Robinhood supports the NFL, NBA, MLB, college sports, soccer, tennis, golf, esports, and others. There are over 10 categories in total. The betting markets are also strong, and this platform excels in futures, covering multiple different events. The markets for individual games are more limited, with no props, so we would like to see more added here. But Robinhood is an excellent option for those looking for an all-around experience.
Robinhood Pros:
- Low fees
- Excellent app
- Huge range of real-world categories
- Several futures betting markets
Robinhood Cons:
- Limited props
- No advanced data on markets
- Withdrawal fees
#2. Kalshi
Kalshi is a market-leading prediction market with elite sports coverage, custom parlay builders, and a range of non-sports markets that allow you to predict the outcome of just about anything. This is one of the big names in the US sports prediction market industry for a good reason. Kalshi has continued to evolve since it launched, and you can now choose from a wide selection of player props and also access alternate line spreads and totals. It is perfect for mobile devices, so you can trade remotely, and you can also easily analyze and assess all of the market data on your mobile.
There are so many features on Kalshi. They also offer the equivalent of SGPs with combo orders on single events, or you can select several markets across different events and add them to a parlay. The most common issue we see from users regarding Kalshi is the relatively high trading fees and bank card charges, but that is offset by the sheer range of features you can utilize on the platform.
Kalshi Pros:
- Parlay-style contracts and live event contracts
- Deep sports coverage and great market depth
- APY interest on balances over $250
- Market insights
Kalshi Cons:
- Higher trading fees than other prediction market platforms
- Bank card transfer fees
#3. Pred.App
Pred.app is one of the newest prediction market sites to enter the industry, and is a sports-oriented prediction market. This is not like Kalshi or Robinhood because Pred.app focuses entirely on sports. The depth of coverage is limited compared to rivals, with only 5+ categories available. However, if you are interested in predicting the outcomes of events in tennis, basketball, soccer, and motorsports, then you have numerous options at your disposal. Some individual games boast over 10 predictions each, which is very impressive. There are also live trading opportunities, and Pred.app prides itself on the 200ms trade execution time so you can secure your selections quickly.
Pred.app works with crypto, and the contracts are settled in USDC. It is also important to be aware that rather than trading bets on a CFTC-licensed exchange, you are instead trading Web3 smart contracts. Pred.app is an emerging platform that is perfect for users who have significant experience in sports trading and crypto.
Pred.app Pros:
- Uses web3 smart contracts to automate bets
- Extremely fast order execution
- Crypto native app
Pred.app Cons:
- Limited sports categories
#4. Polymarket US
Polymarket US is the other most recognizable option in the US prediction market industry (alongside Kalshi). This platform is always expanding, and there is now two versions of this site: Polymarket US (for US users only), and Polymarket.com (international). The international version is not legal in the US, but US players can access the US platform – a CFTC-regulated prediction site that is currently still in its Beta version. This iteration of the platform covers sports, crypto, weather, politics, tech, culture, economics, and the weather.
There is a huge selection of markets for individual sports events, and users can easily navigate between Market, where you buy at the market price, and Limit, where you can set the price and time limits. Polymarket has already earned brand recognition and a reputation, and you can see why when you explore the site, but there are still improvements to come when the Beta stage is complete. For example, there are no combo trade possibilities, and there is a limited number of payment methods. But the liquidity is high, and you can make the most of the low fees.
Polymarket US Pros:
- Wide range of markets for sports
- Low trading fees
- Clean interface makes navigation simple
- Mobile-friendly
Polymarket US Cons:
- Still in Beta phase
- Limited payment options
#5. Plus500
Plus500 is a good alternative to ProphetX as it is something quite different if you are looking to branch out beyond trading on only sports contratcts. This platform does offer strong sports coverage but also has financial trading and a wide selection of other prediction markets in addition to sports. Users will find alternate props and futures available, and although they are not a premium prediction market for props, it is still nice to have them as an option. Plus500 has good market coverage and also provides a strong level of analysis, with high liquidity for the most important markets. This platform also has a flat fee schedule, which is low, and there is also plenty of line movement data so you can closely monitor spikes in volume.
This site is a serious alternative option if you are interested in trading and making predictions. You won’t find any sort of rewards program or ongoing perks, as they are used more for the trading side of the platform. However, it does have flexible payment methods and a wide range of sports, making it a viable alternative to ProphetX.
Plus500 Pros:
- High liquidity on significant markets
- Combines financial trading and prediction markets in one site
- Flexible payment options
- Strong sports coverage
Plus500 Cons:
- No parlays
- Trading platform first over prediction market
Key Features Of ProphetX
The strength of ProphetX lies in the expected value of the markets that it offers and the sheer amount of sports available. It also has live trades and parlays, which not every prediction market has, and this gives it a big boost in our eyes. You can buy or sell trades on a game during play, but you must be aware that this makes market prices highly volatile. This is a high-risk strategy but is also very exciting, as the prices can swing in your favour or out again very quickly, so judging when to execute at the right time is vital.
ProphetX makes no secret of the fact that it is all about sports, but if you are looking for a platform that is more diverse and covers other categories, there are plenty of other options.
Choosing A Prediction Market Site
Traders who are interested in ProphetX are usually big sports fans who want to try something fresh alongside conventional sports betting. When deciding on which prediction market site best suits you, you must consider whether you want financial trading tools or non-sports prediction markets.
If you want both of those things, then this will narrow down your choices. If you are after just sports markets, they you can really refine your search down to the number of markets each site offers for individual matches, and this is where you will find the biggest differences. You can compare the number of alternate markets, if they do live trades, and the combo options between the different sites. It is also important to consider the amount of data the platform shows you (liquidity and market volume especially), and how quickly the lines update.
All of these factors form the type of experience you will have at a prediction market, and each site has their own features and benefits.
