Compare prediction market platforms
Filter by market type or operating status, compare selected platforms side by side, and pair platform details with CLEATZ's tracked market-activity data.
Featured platforms
Activity metrics are source-labeled. Cash volume and notional are never combined.
| Compare | Platform | Status | Markets | 30D tracked activity | Regulation / route | Why CLEATZ tracks it | Guide |
|---|---|---|---|---|---|---|---|
| KalshiDirect DCM | Registry reviewed Sep 22, 2026 · CFTC filing ↗ | Politics, Econ, Sports, Culture | $15.14BCash volume · 30/30 days | CFTC-designated DCMDirect DCM | Regulated, broad events, strong liquidity | CLEATZ guide ↗ | |
| PolymarketPolymarket US: QCX | Registry reviewed Sep 22, 2026 · CFTC filing ↗ | Sports, Culture, Crypto | International $2.19BIntl cash volume · 30/30 daysU.S. $3.04BUS cash volume · 30/30 days | QCX LLC d/b/a Polymarket US · CFTC-designated DCMPolymarket US: QCX | Tight spreads, decentralized roots | CLEATZ guide ↗ | |
| OGCrypto.com / Nadex | Registry reviewed Sep 22, 2026 · CFTC filing ↗ | Sports, Politics, Econ | No tracked feed | Nadex d/b/a Crypto.com · CFTC-designated DCMCrypto.com / Nadex | Regulated, strong tech | CLEATZ guide ↗ | |
| RobinhoodKalshi / IBKR | Registry reviewed Jul 8, 2026 | Sports, Politics | No tracked feed | RegulatedKalshi / IBKR | Integrated with trading app | CLEATZ guide ↗ | |
| Underdog Predict— | Registry reviewed Jul 8, 2026 | Sports, futures | No tracked feed | CFTC-linked— | Fast growing | CLEATZ guide ↗ | |
| NovigLudlow Exchange (direct DCM) | Registry reviewed Sep 22, 2026 · CFTC filing ↗ | Politics, Econ, Sports | $2.59BObserved notional · 30/30 days | Ludlow Exchange, LLC d/b/a Novig · CFTC-designated DCMLudlow Exchange (direct DCM) | Sports prediction exchange | CLEATZ guide ↗ | |
| Coinbase PredictKalshi | Registry reviewed Jul 8, 2026 | Politics, Econ, Sports | No tracked feed | CFTC regulatedKalshi | Crypto | CLEATZ guide ↗ |
Polymarket activity is displayed separately for International and U.S. where both feeds are available. Underdog platform totals remain separate from UDX exchange-only reporting to avoid double-counting.
Compare selected platforms
Select up to four featured platforms. This comparison shows documented attributes and tracked activity; CLEATZ does not convert mixed volume definitions into a single score.
Growth, distribution & platform momentum
Live trading activity from the CLEATZ tracker plus historical traffic, app, funding and distribution snapshots. Historical values keep their original reporting period instead of being silently replaced.
30-day momentum
Measurable trading activity only. Cash volume and notional remain separate.
Notional & taker-volume benchmarks
Exact values transcribed from the supplied Aldrin charts. These are third-party tracked benchmarks and remain separate from CLEATZ cash-volume totals.
Source: Aldrin Research supplied charts. Weekly dollar values are copied from the printed table; shares are calculated from those exact values. The Novig and Underdog category-colored bars are not converted into dollar estimates because the images do not print category totals.
Market leaders
Traffic, recent market activity and capital-value signals captured in the supplied briefing.
| Platform | Web traffic | Recent activity | Valuation / revenue signal | Data status |
|---|---|---|---|---|
| Polymarket | 45.3M · March 2026 | $2.54B · Week of Apr. 13–19, 2026 | ~$15B · April 2026 | Public estimate / Source-tracked / Reported |
| Kalshi | 13M · March 2026 | $3.54B · Apr. 6–11, 2026 | $22B · March 2026 | Public estimate / Source-tracked / Reported |
| Robinhood | — | — | ~$300M · April 2026 | Public estimate |
Audience baseline
Public mobile traction
Launch & distribution signals
Current operating status comes from the platform registry; the launch/distribution signal remains tied to its historical observation period.
| Platform | Current status | Launch snapshot | Distribution snapshot | Growth / key signal |
|---|---|---|---|---|
| OG | Operating · DCM route | Feb. 3, 2026 · Feb. 3, 2026 | U.S. nationwide via CDNA · April 2026 | 40x weekly · Company claim |
| DraftKings Predictions | Operating · DCM route | Dec. 19, 2025 · Dec. 19, 2025 | 38 states · April 2026 | Major sportsbook brand with dedicated prediction-markets app |
| FanDuel Predicts | Operating · DCM route | Dec. 22, 2025 · Dec. 22, 2025 | 50 states; sports in 18 · April 2026 | |
| Fanatics | Operating · DCM route | Early Dec. 2025 · Early Dec. 2025 | 24 states · Launch snapshot | |
| Coinbase Predict | Operating · DCM route | Late 2025 · Late 2025 | U.S. via Kalshi · April 2026 | Crypto |
Historical intelligence & methodology
Why keep stale data? Because dated traffic, ratings, downloads, valuations and distribution footprints become useful time-series observations once later snapshots are appended. The module never relabels an old record as current.
Source-status hierarchy: source-tracked activity, reported/company disclosures, public third-party estimates, and company claims are displayed separately. A company claim is not promoted to measured data.
Recommended cadence: refresh traffic/app signals weekly or monthly, append regulatory/distribution changes when they happen, and add public-company earnings metrics quarterly. The WordPress admin page flags stale latest records.
Operating, no-action & coming soon
Partner tags reflect the relationships stated on the current CLEATZ directory.
Operating through DCM route
17 platformsOperating with no-action letter
2 platformsComing soon
18 platformsWhat updates automatically vs. manually
Stored 30-day activity from the CLEATZ Revenue & Volume Tracker. No network fetch happens during page rendering.
Status, partner/clearing relationship, market categories, regulatory wording, CLEATZ guide link and verification date.
WordPress admin flags manual records older than 30 days; the public tool shows the registry review date without pretending it is live data.
What Is a Prediction Market App?
Prediction markets are exchange-style platforms where each contract’s price reflects the estimated probability of an event occurring. For example, if a contract trading whether “Team X wins next week” is priced at $0.65, the implied probability is 65%. If the event happens, winning contracts settle at $1; if not, they expire worthless.
Key difference vs. traditional sportsbooks:
| Feature | Prediction Market | Sportsbook |
|---|---|---|
| Market type | Peer-to-peer price discovery | House-set odds |
| Pricing | Market-driven | Fixed odds |
| Outcome settlement | $1 per winning contract | Variable payouts |
| Fee model | Trading fees / spread | Vig (juice) |
This model attracts strategies ranging from probabilistic forecasting to arbitrage and hedging. More details here on Prediction Markets vs. Sports Betting.
Legal & Regulatory Landscape (U.S.)
Prediction markets have seen high scrutiny and rapid development:
- CFTC regulation: Kalshi’s designation gives it strong oversight.
- Ongoing debates: Some regulators argue these markets operate like gambling.
- Sports betting expansion: Entities like FanDuel partnering with CME Group signal mainstream adoption
This means where and how you can trade may vary by state and platform. Always consult each platform’s legal disclosures.
Event Types You Can Trade
Most prediction markets categorize events into:
- Politics: Elections, primaries, policy outcomes.
- Economics: Inflation, jobs data, Fed decisions.
- Sports: Match winners, futures, MVP markets.
- Culture & media: Award winners, major news outcomes.
- Finance & commodities: Indices and price direction.
This breadth makes them more like financial markets than casual betting apps.
Expert Tips for Choosing an App
1. Liquidity matters: Higher liquidity = tighter pricing and easier trades.
2. Know your event focus: Some apps specialize (e.g., political markets), while others cover broad events.
3. Fees & spreads: Look at transaction costs, higher fees can erode returns.
4. Regulation: U.S. regulated markets often provide better legal clarity.
Transaction Fees:
Prediction market platforms can make their money on transaction fees or by leveraging the bid-ask spread. Fees can be variable based on how much you spend. The platform Kalshi usually charges $0.02 to buy a $0.40 contract and $1.68 to buy 100 $0.40 contracts. Competing platform Polymarket does not charge fees and instead earns on the difference between the bid price and the higher selling price. – YAHOO Finance
Prediction Markets FAQ
There’s debate. Some regulators treat them as gambling; others see them as forecasting markets with financial characteristics.
Availability varies by state and regulation. Roughly 48 states currently allow Prediction Markets, but check local laws and platform disclosures.
Prices typically reflect the implied chance of an outcome occurring. For example, a $0.80 price = ~80% chance.
Jason Ziernicki is the founder of CLEATZ and has worked in the online sports betting industry since 2012. At CLEATZ, he focuses on public betting data, sportsbook line movement, prediction markets and data-driven sports betting tools.
