While Kalshi may be the best-known prediction market site, there are several similar apps and platforms licensed in the US. These include Plus500, Polymarket, Crypto.com, and Robinhood.
In this guide, we'll explore the leading prediction market sites like Kalshi. We'll look at precisely what they offer and any advantages that they may have over Kalshi, while offering a step-by-step guide on how to get started.
There are many similar exchanges to Kalshi on the market, but as we will explain, apps like Polymarket, Crypto.com, Plus500, and Robinhood all stand out above that pack. Here’s some insight into what these prediction market apps have to offer compared with Kalshi.
| 📱 Prediction market app | 🧑⚖ Regulation | 🇺🇸 Legal states | 🏆 Best feature |
|---|---|---|---|
| Crypto.com | CFTC | 45+* | User-friendly interface |
| Polymarket | CFTC | 40+ | Prediction market selection |
| Robhinhood | CFTC | 50 | Low-cost trading |
| Plus500 | CFTC | 45+ | Beginners guides and simple bonuses |
*The app is prohibited in AZ and NY; meanwhile, sports prediction markets are restricted in NV, OH, MI, ML, MA, NJ, and IL.
Polymarket is probably the second most famous prediction market brand after Kalshi, and it has the substance to back up its reputation. This app has the most diverse market selection around, for sports, politics, climate, tech, and entertainment. When it comes to crypto trading, it offers the most short-term and high-frequency markets around, including the BTC 5-minute Up/Down prediction.
Overall, Polymarket is renowned for running relatively niche markets, too. This applies across most categories, particularly sports, politics, and culture.
In terms of fees, Polymarket keeps things much simpler than Kalshi’s complex expected profit fee structure. There’s a fixed taker fee for each type of contract, such as $0.07 for crypto predictions. Moreover, there’s also a maker rebate system that can get you up to 20% for making a trade on the market.
In terms of customer service, Polymarket has a decent Help Center, online live chat, and a responsive email. Additionally, there is a US phone number that you can call if you wish to speak with an actual human being. In terms of usability, the app balances Crypto.com’s simple navigation with Kalshi’s detailed features. The downside is that the Android app is not on par with the iOS version. There are a number of restrictions, including the fact that you can’t use the 1-Tap trade option from anywhere inside the US.
| 📱 App name: | Polymarket |
| 🍏 App Store rating: | 4.6 ⭐ |
| ▶ Google Play rating: | 4.5 ⭐ |
| 🛜 Download size: | 192.2 MB |
While this brand is better known for its crypto exchange, Crypto.com now offers prediction market trading on its website and through its exclusive mobile app. Launched in February 2026, the prediction market app is called “OG” and is extremely user-friendly. This is perhaps why the app already has a 4.7-star App Store rating based on tens of thousands of user reviews.
While the prediction market selection at Crypto.com might be modest compared to Kalshi and some bigger apps, the main bases are covered. Besides crypto, you can also trade future event contracts on sports, economics, political events, and more. There’s a generous welcome bonus available, too, which comprises up to $300 in the platform’s native crypto token (CRO).
However, what stands out most about this app is its simple but effective interface. The prediction markets are easy to find, follow, and understand. This makes the app ideal for beginners and experienced traders who are looking for a streamlined process. On the other hand, if you like more attention to detail, you may miss some of the interactive trackers and graphs that apps like Kalshi offer.
From a legal standpoint, the OG prediction markets app is a derivatives product offered by Crypto.com | Derivatives North America. It is regulated by the CFTC and is legal for traders aged 18+ who are residents in the US. That said, it is prohibited in New York and Arizona, and sports markets are excluded in the following states: Nevada, Ohio, Michigan, Maryland, Massachusetts, New Jersey, and Illinois.
| 📱 App name: | OG: Predict and Trade The Future |
| 🍏 App Store rating: | 4.7 ⭐ |
| ▶ Google Play rating: | 4.4 ⭐ |
| 🛜 Download size: | 140 MB |
Sponsored by Crypto.com – Not investment advice. Trading prediction markets and crypto involves risk, including potential loss of your stake. Consider your risk tolerance before participating. Crypto.com connects U.S. users to CDNA (regulated by CFTC) for derivatives trading. CDNA membership required. Trading may not be suitable for all—you could lose your entire investment plus fees. Past performance doesn’t guarantee future results. This is not a solicitation or recommendation to trade.
The Plus500 app offers prediction markets as one of several trading verticals, including forex, stocks, and futures. Because of this, you can claim a choice of welcome bonuses when you sign up.
One such offer comprises a $20 bonus when you deposit and trade a minimum of $10 on prediction markets. There’s also a four-tier bonus aimed primarily at higher stakes futures traders, with the lowest level requiring you to deposit a minimum of $500.
Currently, Plus500 is available in 45+ US states and benefits from Federal regulation from the CFTC. Like Crypto.com, the platform is incredibly popular with beginners, with Plus500 offering expert trading guides across a wide range of topics. These guides explain key concepts like liquidity and order book function in a way that’s accessible and easy to understand.
The only major downside with Plus500 is that the site charges a flat 1.75% fee to process withdrawals. This applies across all payment methods, and offers a sharp contrast to providers like Kalshi and Polymarket.
| 📱 App name: | Plus500 Trading & Investing |
|---|---|
| 🍏 App Store rating: | 4.7 ⭐ |
| ▶ Google Play rating: | 4.4 ⭐ |
| 🛜 Download size: | 253.2 MB |
Robinhood’s prediction markets hub is available through the platform’s regular trading and investing app. While not a standalone product, the prediction market is powered by Kalshi and is therefore extremely reliable. However, it does have limitations in its prediction market offering compared with Kalshi and other dedicated prediction market platforms.
However, this low selection of markets means that it hasn’t spread its trader base too thin. As a result, you should find decent market volume and liquidity, particularly for sports predictions. The prices for event contracts on Robinhood tend to remain fair, rarely moving away from the 1:1 ratio with the chance percentage.
The most appealing thing about prediction markets on the Robinhood app is the fee structure. Not only is it simple, but it’s also cheap, as there’s a flat rate of $0.02 on all event contracts. As long as you’re happy with the modest range of prediction markets, this is definitely the cheapest app to trade on.
Legality-wise, it’s the same story as Kalshi. The prediction market is a derivatives platform that’s CFTC-regulated and legal in all 50 states. That could change in the future, but at the time of writing, the information is accurate.
| 📱 App name: | Robinhood: Trading and Investing |
| 🍏 App Store rating: | 4.3 ⭐ |
| ▶ Google Play rating: | 4.5 ⭐ |
| 🛜 Download size: | 836.4 MB |
The process of creating your account will be slightly different depending on whether you’re using Crypto.com or similar apps to Robinhood. However, here’s a concise step-by-step guide to walk you through the process:
Pick your platform – Read our reviews and select the right prediction markets app for you
Click through and visit the site – Find and click through the banners on this page and navigate to your preferred site
Download the app – Download and install your prediction markets app where required
Sign up – Tap the “Sign Up” or “Register” button to open your new account
Create a Login – Create a unique username and secure password for your account
Provide your personal details – Enter a valid and verifiable email address and US phone number
Verify your information – Verify via email and SMS, while uploading the required documents to verify your account
Accept the T&Cs – Read and accept the terms and conditions before completing your signup
Deposit Funds – Fund your account using your preferred deposit method, such as debit card or bank transfer. Note that many sites now prohibit credit card use
Start Trading – Browse the prediction markets and start trading “Yes” or “No” event contracts
We’ve tested numerous prediction market sites to determine the best alternatives to Kalshi. Our methodology includes a number of fixed weighted criteria, which we use to evaluate platforms evenly and provide honest, objective insights. Here’s a list of the main criteria that informs our reviews:
Prediction market trading in the United States is only legally available in CFTC-regulated exchanges, so this is the first thing that we look for. After that, we check for any state restrictions and exclusions before testing the security protocols like 2FA and security questions.
While the app store ratings offer an indicator, we always test software for ourselves to see how user-friendly it is. Ideally, we’re looking for a balance of simple navigation for beginners, twinned with high-level features for experienced traders. We may also check objective and detailed reviews via sites such as Trustpilot.
Perhaps most importantly of all, we look at the range and depth of prediction markets offered on a site. Sport, finance, and politics prediction markets are the core of any good app, but popular niche markets like crypto, climate, and culture also offer diversity.
After we’ve looked at the prediction markets, we turn our attention to the acquisition of event contracts. The best apps have a selection of trading options, including buying in dollars, standard prediction market contracts, and limit orders.
We also check and test the selection of deposit and withdrawal methods, alongside the limits and fees for each one. Ideally, we’re looking for a selection of fiat and cryptocurrency options. Withdrawals such should ideally be fee-free, too.
Some prediction market apps have their own native crypto token that’s used for trading. For example, Polymarket as pUSD (Polymarket USD), which is an ERC-20 token on the Polygon chain that’s tethered 1:1 with USDC. Crypto.com also has its CRO token.
Prediction market sites work by matching equal counterparts for prediction market event contracts and take a trading fee. Low fees are obviously ideal, but a clear and simple fee structure is also a bonus. Dynamic fees may also be beneficial depending on how you trade.
While it’s essential to cover the basics and do them well, special features are what can make an app stand out from the pack. For instance, the transparent Order Book feature on the Polymarket app shows the real-time trading volume, which helps you assess market liquidity and identify high-value trades.
If you encounter issues, it is always good to know that you can quickly and easily find the help that you need. Besides a comprehensive Help Center, we always test the customer service across all available channels and rate them in terms of responsiveness and helpfulness.
Most apps afford you three options when purchasing event contracts for their prediction markets. To provide further context, let’s use the example of an NFL game between the Giants and the LA Rams.
This straightforward option allows you to type in the number of contracts that you wish to purchase and instantly calculates your cost. For example, if you to purchase 100 “Yes” shares in the Giants at $0.26, you’ll have to commit to an initial payout of $26.00.
Like any form of trading, prediction markets are extremely risky and vulnerable to multiple elements, including market liquidity, price volatility, and negative slippage. The expected price of the event contract can often end up vastly different from the one that you intended to pay. To mitigate this particular risk, you can place a limit order with a maximum price-per-contract that you’re willing to pay. If the trade executes above this price, your purchase order will automatically be cancelled.
Event contracts can come in a few different forms, depending on the type of prediction market that you’re looking at. To give you a simple example, here’s how a simple “Yes/No”-style binary sports event contract looks on Polymarket for the aforementioned NFL game between the Giants and the Rams:
| 📈 Event contract | 💲 Price |
|---|---|
| New York Giants | $0.26 |
| LA Rams | $0.75 |
The price of the event contracts is always between $0.01 and $0.99 prior to the market resolving. These figures also reveal the implied probability of a particular outcome occurring. So, a higher price translates into an enhanced probability value, whereas low prices are indicative of long shot picks. For example:
In this case, the Rams are the heavy favorites to defeat their rivals on the road. Interestingly, the combined implied probability value here adds up to 101%, but this is generally caused by order book dynamics and the market spread.
Rather than placing a bet against the house, prediction market contracts of this type require you to buy and sell shares via a peer-to-peer exchange. This minimizes fees and leads to generally accurate probability values, while it also affords you the opportunity to sell a profitable position prior to the market resolving.
Let’s say that you’ve analyzed the market, picked your outcome, and purchased shares in the Giants at $0.26. You also decide to hold your position until settlement and await the final result.
If you pick correctly, each of your shares will resolve at $1.00 and trigger a payout. Conversely, a victory for the Rams will see your Giants “Yes” shares settle at $0.00, causing your initial investment to be lost (alongside any trading fees you’ve paid).
In this case, successfully trading “Yes” on the Giants at $0.26 per share will deliver an ROI of 284.62%. The precise amount you return will depend on the size of your position, but here’s a breakdown of your payout:
Kalshi is an exchange that offers trading on prediction markets. These prediction markets allow you to buy and sell event contracts based on future outcomes related to sports, crypto, tech, politics, culture, and more.
Kalshi is something of a trailblazer in this industry, as it was the first ever exchange to offer trading on these types of event contracts. It is regulated in the United States by the Commodity Futures Trading Commission (CFTC), making it legal for adults aged 18+ in more than 45 states at the time of writing.
However, the legal status of prediction market trading continues to change stateside. Currently, Nevada and Washington have imposed almost totals bans on Kalshi trading, while sports prediction markets are currently restricted in Arizona, Maryland, Massachusetts, Michigan, Montana, New Jersey, and Ohio. This legislative battle is seeing states challenge the regulatory authority of the CFTC, and will continue to play out in the coming months.
You can buy and sell Yes/NO event contracts on the Kalshi website or using the mobile app. The Kalshi app is available to download from the App Store for iOS users and Google Play for Android users. On both platforms, it has a very impressive 4.7-star user rating.
| 📱 App: | Kalshi |
| 📈 Type of platform: | Prediction market exchange |
| 🧑⚖ Regulation: | Commodity Futures Trading Commission (CFTC) |
| ✅ Legal in the United States: | Yes |
| 🇺🇸 Number of legal states: | 45+ |
| 🔞 Age limit: | 18+ |
| 🍏 App Store rating: | 4.7 ⭐ |
| ▶ Google Play Rating: | 4.7 ⭐ |
To help you find the best alternatives to Kalshi, we need to highlight the pros and cons of what this prediction market has to offer. In doing so, we can highlight the key areas where the other apps stand out by comparison.
The sports prediction market example that we used above is a binary event contract, where there are two outcomes. In this case, it’s Team 1/Team 2, but you also have Yes/No contracts, Up/Down, and Over/Under for spreads and totals.
Binary contracts aren’t the only types available, as there are two other structures that you may come access: categorical and scalar. Here’s a brief overview of how all three work:
In summary, there are a number of other prediction market sites that are CFTC-regulated and offer similar event contracts to Kalshi. These include Plus500, Polymarket, Crypto.com, and Robinhood. These platforms also enable you to trade on future outcomes for events including sports, crypto, climate, and politics. They offer generous welcome bonuses to new customers, too.
You can read our reviews and register with your preferred platform via the banners on this page. Before you do, make sure that you’re aware of the risks involved with prediction market trading. The risk of losing money is very high, and many markets are extremely volatile. So, you should manage your bankroll carefully and only ever trade an amount that you can comfortably afford to lose.
Many apps offer prediction markets like Kalshi, including Crypto.com, Polymarket, Plus500, Underdog, and Robinhood. The examples that we’ve given are all CFTC-regulated exchanges in the United States, but may have restrictions in some locations. This will continue to change as new legislative shifts occur stateside.
Kalshi was the first app in the US to offer traders the opportunity to buy and sell event contracts for sports and other prediction markets. It has spawned numerous imitators that have since risen to become competitors. Polymarket is probably the biggest rival, while Crypto.com’s OG app is rising in popularity.
At the time of writing, Kalshi and other CFTC-regulated prediction market apps are legal for US traders aged 18+. However, prediction markets are highly risky, and several states have possible bans incoming. It’s best to regularly check in on sites like deadspin.com for legislative updates in a fast-moving landscape.
When comparing our recommended prediction markets like Kalshi for yourself, it’s important to have a clear understanding of your trading style and preferences. However, Polymarket offers a similar diversity of trading markets to Kalshi, but Plus500 and Crypto.com are both highly recommended for beginners. Robinhood is renowned for offering low trading fees.
Loading …
