List of prediction markets: every platform, who runs it and who can use it

Contents

This is a neutral list, not a ranking. For a pick by country, see the best prediction market apps. We build Totalis, which is in this list and is not available to US persons.

US prediction markets: who runs them and their legal basis#

Twelve of the US platforms here are CFTC-regulated venues: an exchange (a designated contract market, DCM) or a broker that sends your orders to one (a futures commission merchant, FCM). PredictIt is the exception: its terms say it is "not regulated by, nor are its operators registered with" the CFTC, and it runs under no-action relief from CFTC staff. This table describes each platform's status; it is not a ruling on whether it is legal where you are. As of 11 November 2026:

DraftKings's status comes from its 10-Q for the quarter to 30 September 2026, which also says it runs Railbird Exchange LLC as DKeX; DraftKings Predictions covers it in full. PredictIt's own exchange is not approved yet: the CFTC lists a PredictIt Exchange DCM application as pending since 5 October 2026.

US prediction markets: who can use them and what they take#

States keep narrowing these lists: Michigan's gaming regulator says Polymarket US joined Kalshi, Robinhood and Coinbase in stepping back from sports contracts there. Whether a state can stop these apps is being fought in court; is Kalshi legal and is Polymarket legal cover where that stands.

US prediction markets: what you can trade and Combos#

Kalshi's categories are its own labels on 11 November 2026, when the largest were elections (9,011 open events) and sports (7,117). Gemini's come from its category endpoint the same day. Lowest-fee prediction markets compares their fees with a worked trade, and prediction market combos compares how each platform prices and settles a Combo.

Which exchange is behind each US app?#

Thirteen brands, but far fewer order books. Where an app is a broker, your trade happens on someone else's exchange, under that exchange's rules and settlement:

Sources are the platform pages in the first table, plus DraftKings's Predictions terms of use, which name CME, Crypto.com's exchange and DKeX. Fanatics Markets now carries accounts through its own FCM, and its current disclosures don't name the exchanges, so it is not in the table. This matters when you compare prices: the same Kalshi contract can cost a different amount on Robinhood or Interactive Brokers, because each adds its own commission to the exchange fee. What Kalshi is explains the exchange that five of these apps use.

International and crypto prediction markets#

These run on blockchains and hold stablecoins. Every one of them that publishes a country list excludes the US. As of 11 November 2026:

Several say outright that they are not licensed exchanges. Hyperliquid's interface terms say neither the interface nor Hyperliquid is "licensed, approved, authorized, endorsed, or registered by any governmental authority". Predict.fun's terms say it "does not operate a cryptoasset or derivatives exchange", and Totalis's terms of service say Totalis is not an exchange, broker or designated contract market. On 11 November 2026, 305 of the 306 outcomes in Hyperliquid's info API were quoted in USDC. The four HIP-4 apps in one row are compared in the best HIP-4 apps.

Totalis's categories are its own labels from its public markets API on 11 November 2026: 141 sports markets, 73 crypto, 60 finance, 3 economics and 2 esports. Jupiter Predict mostly shows Polymarket's markets inside Jupiter, per the same FAQ. Polymarket alternatives and Kalshi alternatives go country by country.

Where does Totalis fit?#

Totalis is a prediction market app on Hyperliquid. It trades HIP-4 outcome markets one at a time on the HyperCore order book, or as Combos of 2 to 5 outcomes that market makers quote and that settle in the Totalis vault on HyperEVM. The limits and fees page sets the stake cap at 1,000 USDC, and the trading guide explains how a Combo is quoted, opened and cashed out. Its trading guide's leg rules say a market can join a Combo only when it is enabled, its Combo window is open and both sides have a live price. At 10:47 UTC on 11 November 2026 its public markets API listed 278 markets, and 135 met all three. It is not available to US persons, and signing up takes an invite code. What HIP-4 is explains the markets underneath, and you can browse Totalis markets without an account.

Play-money prediction markets#

Manifold is a play-money prediction market. Trades use mana, which "cannot be converted to cash", and every new account starts with 1,000 mana, per its FAQ. Anyone can create a market on any question. Manifold also runs prize drawings paid in USDC for active users, with their own eligibility rules. We found no Combos there.

How many markets does each platform list?#

We counted each platform's listings on 11 November 2026, between 10:12 and 10:47 UTC, from Kalshi's published market data and the public APIs of Polymarket, Hyperliquid and Totalis:

The counts measure breadth, not activity. 15,217 of Polymarket's 18,912 events had an end date still ahead; the rest had passed their end date without closing, or had none. For how much actually trades, see prediction market volume and HIP-4 volume. If you want to pull these lists yourself, the Kalshi API guide and the Polymarket API guide show the endpoints.

What are the two major prediction markets?#

Kalshi and Polymarket. Each had more than 18,000 open events on 11 November 2026, and four other US apps resell Kalshi's contracts. They split along the US line: Kalshi is a US-regulated exchange that also takes traders from many other countries, and Polymarket runs an international crypto app plus a separate US exchange. What Kalshi is and what Polymarket is explains why it has two apps.

Which prediction markets are legal in the US?#

This list can't settle that for you. The 12 CFTC-regulated venues above operate under federal oversight within the states each one names, PredictIt runs under CFTC staff no-action relief, and several states dispute that sports contracts are legal under their laws: DraftKings's 10-Q lists class actions arguing that its sports contracts are illegal in states such as California, Florida and Texas. Hyperliquid and the international crypto venues exclude the US in their own terms; Hyperliquid and US users explains why. This page is information, not legal advice; check the rules where you live.

How we built this list#

We included platforms where real money (or, for Manifold, play money) trades on event outcomes and whose own terms, docs or help pages we could read on 11 November 2026. Every cell comes from those pages or, where noted, the platform's own market data on that date. We left out apps whose terms we could not check. The sportsbook comparison covers how all of these differ from a sportsbook, and the best prediction markets for sports narrows the list to sports.