We are here today to talk about apps like Underdog Predict, and prediction markets in general. It’s entirely possible that you haven’t encountered trading event contracts before, so we’ll also run through how they work.
We’ll also tell you what to expect if you join Underdog, and how it differs from dedicated prediction market platforms like Kalshi, Polymarket, and Crypto.com. Don’t get us wrong, there is nothing amiss with Underdog Predict, but it does have certain limitations, so we’ll also discuss the reasons you may want to consider other options.
Prediction markets are a relatively new type of trading which allows you to make predictions and buy contracts which are based on real life events. You are not trading against the platform that provides the markets, you are trading with, or against, other users.
There are always two sides, and each contract will have a value assigned from $0.01 to $0.99. When the event ends and the outcome is confirmed, correct prediction contracts pay out at $1, while incorrect contracts get nothing.
Regardless of whether a prediction market platform displays an event contract as % (percentages) or $ (USD) they effectively equate to the same thing. But in all instances, the percentages will add up to 100% or a total of $1.00.
For example, an event contract with Yes/No outcomes, where the percentages shown are 65% Yes, and 35% No. This indicates that 65% of all users who have bought contracts believe Yes will be the outcome. Note that this probability is dictated by supply and demand, which is driven by market sentiment. As a result, these numbers need to be interpreted with care.
The probability also acts as a guide to the purchase cost of a contract for each outcome. In our example, the purchase cost of each Yes contract is $0.65, or $0.35 for a No contract. Although the payout is always $1, the potential profit or loss per contract is the variable depending on how much you paid for the contract.
One last thing to note is that you can usually exit a position before a contract settles, selling your contracts at the current market rate to either secure a profit or limit your losses. However, since prediction markets are P2P, you can only ever sell a position if there is a trader willing to buy it.
There are actually three types of event contracts, and we thought it was worth explaining each with a theoretical example to demonstrate.
Most event contracts are binary, and are often presented as a question with a Yes or No answer. However, they can also be Up/Down, Left/Right, Over/Under and so on. The main thing to know is that there are only ever two possible outcomes.
Example: “Will Elon Musk win his case against Sam Altman?” (Yes/No)
A slightly better description for this type of contract is multiple choice. You would see a number of different options listed, ranging from two to many, depending on the topic. However, each option represents an individual event contract, with its own Yes/No outcomes. When the event closes, only the contract for the correct prediction (typically the eventual winner) pays out.
Example: “Nobel Peace Prize Winner 2026” (20 candidates listed)
This type of event is range-based and most often found in the financial, or economics market categories. Payouts are calculated using an algorithm based on the upper and lower ranges, and the confirmed outcome.
Example: “Crude oil price in May 2026” ($95 – $105)
It was only a few months ago, in September 2025, that the well-regarded Underdog DFS brand also began offering prediction markets on its existing app, under the name ‘Underdog Predict’.
The event contracts at Underdog are made possible through the brand’s collaboration with Crypto.com, or to be exact, CDNA (Crypto.com Derivatives North America) which is a CFTC-regulated exchange.
In practical terms, Crypto.com provides the trading contract infrastructure, while Underdog is only responsible for how Underdog Predict is displayed on its existing app. For Underdog Predict event contracts, you should also take note of the following statement, and make sure that you read the relevant documentation:
Trading derivatives involves risk and may not be appropriate for all. For more information visit: https://www.nadex.com/rules and https://underdogfantasy.com/rules. For Crypto.com Predictions, the term “pick” refers to a product traded on CDNA.
Underdog Predict mainly offers event contracts for sports, and there are two types: Team Picks and Player Picks. As you’d expect, Team Picks are straightforward binary contracts based on which of two teams will win a match.
Player Picks are different, as your predictions concern individual stats relevant to how a player will perform during an event e.g. Total goals/points (Over/Under).
Under the Culture Picks heading, Underdog offers markets for topics like entertainment, weather, politics, economics, and cryptocurrencies. Notably Culture Picks only account for around 25% of all Underdog event contracts.
We’ve already explained that Underdog Predict shares the same app as the brand’s DFS picks. However, access to the two is variable, as determined by the state maps on the Underdog website.
Underdog Predict is available in 32 US states, the following are excluded: Arizona, Colorado, Connecticut, Delaware, Illinois, Iowa, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Nevada, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, and Tennessee.
As for most prediction market sites, you’ll need to be at least 18 years old to use Underdog Predict, except in Virginia where the minimum age is 21 years according to information we found in Underdog’s terms and conditions.
It is also worth noting that you can only buy and sell event contracts when you are physically located in one of the 32 eligible states. In order to ensure compliance with this rule, you will need to adjust your device location settings to enable Underdog’s geolocation software to work.
There are a number of other apps like Underdog Predict where prediction markets have become an addition to a brand’s existing offering, which in Underdog’s case was DFS picks. In those situations, platforms typically team up with regulated trading exchanges in order to offer event contracts.
The three prediction market platforms we expect you’ll have heard about are Crypto.com, Kalshi and Polymarket. Each of these brands is CTFC-regulated and able to offer event contracts directly, whereas the options you’ll see for Underdog Predict are made available by way of its collaboration with Crypto.com.
Then there are apps similar to Robinhood, which work in a slightly different way. Robinhood operates mainly as a traditional trading platform. However, it also offers prediction markets through a subsidiary called Robinhood Derivatives, which in turn partners with Kalshi to provide event contracts.
There is nothing fundamentally wrong with Underdog Predict, and the event contracts the brand currently offers could potentially suit your needs, but some of you might want more. For that reason, we’ve decided to explain the limitations of Underdog Predict, and go through some of the reasons you might want to consider other prediction market brands.
Underdog Predict can only be accessed from 32 states, but if you happen to live in one of the other 18 states, or travel regularly, that may not be ideal. Meanwhile, Kalshi, and Polymarket are currently available right across the US, and most Crypto.com event contracts are available in all states except New York and Arizona.
Although Underdog has a website and provides plenty of useful information about its prediction markets, you can’t actually buy or sell event contracts from a PC or laptop, only by downloading the app. That is not entirely unusual in the industry, but if you prefer making trades on a bigger screen, it can be annoying. And it seems like an unnecessary limitation. Plenty of other prediction trading platforms offer both dedicated apps and full-fledged websites you can use to make trades.
While Underdog Predict does offer event contracts for non-sporting events under its Culture Picks section, the availability there is somewhat limited. It’s entirely understandable that a daily fantasy brand would want to focus on sports, but for those of you who wish to expand your horizons, there are better alternatives.
It may be the case that you would like to use cryptocurrency to trade event contracts. If that is the case, Underdog Predict is not an option, as it only accepts fiat payment methods like debit cards and bank transfer. Meanwhile, although Kalshi, Polymarket, and Crypto.com are crypto-focused, all three have on site portals where you can exchange fiat for crypto. As such, they have all bases covered.
As we mentioned earlier in our guide, apps like Polymarket, Crypto.com, and Kalshi are all independent platforms that operate as trading exchanges and are regulated by the CTFC (Commodity Futures Trading Commission).
As such all three are legitimately available in most US states to anyone who is at least 18 years old. In some respects they are similar, as they all offer event contracts within the same categories, namely: sports, climate, politics, crypto, economics and entertainment, although the exact menu options do vary between the three platforms.
All three of these prediction market platforms also offer mobile access to their event contracts, with downloadable apps for Android and iOS devices. In the table below we have listed their current ratings on Google Play and the App Store.
| App name | Google Play rating | App Store rating |
| Polymarket | 1.8* | 4.7 |
| Crypto.com | 4.4 | 4.7 |
| Kalshi | 4.7 | 4.7 |
*Polymarket no longer offers a downloadable app via Google Play. Although the app is still visible, it can no longer be installed.
Polymarket may have chosen to adopt the look and feel of a more traditional trading site, but don’t be fooled by that, as the brand has an abundance of modern features.
We were impressed by the details we found for every event contract on the platform, and surprised to find that Polymarket has included a user chat facility. All of these same great features carry over to Polymarket’s mobile app too.
If you were hoping for a Polymarket Android app, there is good news. While the brand’s app can no longer be found on the Play Store, when we explored the brand’s T&Cs, we found that an APK for Android devices is available to download from Uptodown instead. If you’re going this route, make sure you get the APK link from the official Polymarket website, and not from a third-party.
Polymarket offers a nicely-balanced range of event contracts for sports, climate, politics, economics and entertainment, but the main attraction is the brand’s cryptocurrency category.
Like most other prediction market sites, Polymarket has crypto event contracts for various timeframes, but it is currently the only platform on this list that offers 5 minute crypto markets, and one of just two offering 15 minute options, Kalshi being the other.
Before we start discussing the prediction markets at Crypto.com there are a couple of things we need to make clear. Firstly, of the three prediction market sites we have chosen to discuss, Crypto.com is the only one that is not available in all 50 US states.
You cannot trade any event contracts if you live in (or travel to) Arizona and New York. Secondly, sports-specific event contracts are restricted in Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey and Ohio.
Crypto.com is a mixed bag when it comes to its prediction market categories. When you click on the ‘Predictions’ tab, the first category you’ll encounter is sports. The brand offers 10 sports, but even for the popular options like football and basketball, the events listed are quite small.
We had a similar experience with other categories too, especially climate, where only one event contract was available. However, Crypto.com excels when it comes to more serious global topics like politics, companies, and economics, where there is real strength and depth to be found.
Kalshi is notable as one of the earliest trading sites to recognize the future potential of prediction markets, and the information Kalshi provides for every event contract, both on its main website and its app is second to none.
The Kalshi platform has a very similar layout to Polymarket, but the attention to detail and customization for each event contract stands out. Along with a live graph you can view with either % or $ movement, you’ll find information about the resolution source, a synopsis of the main rules, plus a link to a full contract document.
Like Polymarket, Kalshi provides an excellent selection of events across the same prediction market categories: entertainment, economics, sports, climate, politics, and cryptocurrency, albeit with different menu options.
Kalshi is also the only other brand offering 15 minute crypto markets for seven coins, and due to the popularity of these short-term events, it’s quite possible Kalshi will add 5 minute crypto markets to its offering over the coming months.
As with all forms of trading, there is always a risk factor to consider. The value of your event contracts can just as easily go down as up. So before you jump in with both feet, it’s wise to do some research first.
It’s possible that trading event contracts is a completely new experience for you. Within the scope of this guide, we’ve only given you a quick walkthrough of how prediction markets work, so we highly recommend that you do some research of your own to gain a full understanding.
All three of the brands we’ve discussed in this guide can be accessed directly using the relevant link on our page banners. Once there, heading for the Help Center is the best thing to do, as all three of these prediction market apps have a wealth of information available.
We’ve suggested these three apps, as they are all at the top of their game, and you’ll find a link on our page banners to access our in-depth reviews for each of them. However, we believe there is no substitute for first hand experience.
You can explore Kalshi, Polymarket and Crypto.com with no obligation. Check out their prediction market categories, and click on some live event contracts to see them in action. Not only will you get a feel for the app that feels most comfortable for you, you’ll also gain more knowledge as you go.
A lot of ground has been covered in this guide to Underdog Predict alternatives. We’ve shown you what prediction markets are all about, explained how event contracts work, and given you an overview of what Underdog Predict offers, together with its limitations.
We’ve also explored some of the reasons why a different prediction market app might suit you better than Underdog Predict, and provided an overview of three of the best platforms currently available. Going forward, you can use the links on our page banners to visit Kalshi, Crypto.com, or Polymarket, create your account, and to explore their sites for yourself.
The top three US prediction market platforms are Polymarket, Kalshi, and Crypto.com, all of which offer similar types of event contracts. But before deciding where to trade, it’s always best to take a look at what each has available, and which platform you feel most comfortable with.
Sites offering prediction markets have come under a lot of scrutiny since they first became available in 2025, particularly so in respect of contracts relating to sports events. Still, prediction trading is available in the US. For example, both Polymarket and Kalshi are currently available to traders in all 50 US states.
Underdog is primarily a brand that offers daily fantasy sport picks. Underdog’s new product, Underdog Predict, is provided in partnership with Crypto.com, which is a CTFC-regulated trading exchange. Although the two products share the same app, they work differently, and are not interchangeable.
Yes, there are. If you’re looking to trade event contracts, prediction market apps like Polymarket, Kalshi and Crypto.com all have a broader selection of contracts and are all currently available in more US states.
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