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The prediction market space in the US continues to expand as we get ready to enter April 2026. Let's take a look to see which companies (platforms) are currently operating in the sector as legal battles heat up on the state front.
1 and 2 - Kalshi and Polymarket
Kalshi and Polymarket owned the sector in 2025, but other companies look to cut into their market share this year.
Kalshi witnessed $22.9 billion in total volume in 2025 to go along with $9.8 billion monthly last month (February). Over $1 billion was traded during this year's Super Bowl. Truly mind-blowing numbers.
User numbers grew from~600K to ~5.1 million monthly active users over the past year.
As for Polymarket, that firm reported ~$21.5B total volume in 2025, $425M traded on this year's Super Bowl alone.
3 - PredictIt
The "dinosaur" of prediction markets, PredictIt is still hanging around, though you don't hear too much about them these days. They were among us when nobody talked about prediction markets accept when Election Day came around.
PredictIt has long acted as an academic/research-driven business model with limits imposed on the number of users.
Historically important but today becoming less relevant.
4. ForecastX
ForecastEx is essentially Wall Street’s version of a prediction market—structured like a derivatives exchange rather than a gambling site.
The platform was developed by John Galt Solutions and is used for demand planning, analytics, and time-series forecasting (not betting or markets)
5. DraftKings
The nation's No. 1 or No. 2 regulated sports betting app has aggressively moved into the prediction market space in recent months through its offering of event contracts (yes/no outcomes) across sports, finance and culture.
It joined forces with CFTC-registered CME Group to offer a prediction market platform.
6. Robinhood
Robinhood isn’t actually a prediction market operator — it acts as a broker that gives users access to regulated event contracts.
Contracts are listed on a CFTC-regulated exchange with Robinhood acting as the distribution / broker and Kalshi providing the exchange and market operator platform.
7. - Crypto.com
Crypto.com operates as a hybrid operator + marketplace and hosts markets inside its own ecosystem.
Unlike Robinhood, which routes to Kalshi, Crypto.com often internalizes the market.
Coinbase and Gemini are leading crypto exchanges as well.
Others to Watch for in 2026
The crypto exchange Gemini, through its Gemini Predict platform, has experimented with:
- In-house / platform-native event contracts
- Crypto-linked prediction-style trading
- Limited rollout (not broadly scaled across U.S. users)
Manifold Markets is one of the more established prediction market platforms but operates more along the lines of a sweepstakes casino in that it is for "entertainment purposes". It uses play money called "mana". It relies primarily on venture funding.
Manifold is positioned more like: “Reddit + prediction markets”. It does not take a cut of real-money trades, operate as a regulated exchange or profit from user losses. This is the key distinction between it and the likes of Kalshi or Polymarket.
Pariflow operates as a real-money (or crypto-style) prediction market where users trade on outcomes (politics, finance, sports, etc.). It takes a small cut on trading volume. Pariflow is more AI-driven and operates in a less transparent environment than a Kalshi or Polymarket.
Drift BET is a smaller but growing DeFi-based event trading.
Augur has been around for a while. It operates as a fully decentralized (Ethereum-based) platform. There is no central operator and, as such, Augr is much more difficult to regulate (think crypto casinos). Anyone can create any market, much like Manifold.
Plus500 offers prediction markets through Plus500 Futures and is overseen by Kalshi.
Gambling911.com continues to monitor the prediction market space as well as any newcomers to the sector.
- Aaron Goldstein, Gambling911.com
