ProphetX vs Kalshi 2026 — Sports Prediction Markets

Quick answer

Pick ProphetX if you trade sports and want the bigger welcome credit — $75 for a $50 qualifying trade with code VENICE, in 49 states plus D.C. Pick Kalshi if you want one account that also covers politics, economics, weather and culture, at $25 back on a $25 trade in 47 states plus D.C. Both are CFTC-regulated order-book exchanges where you trade against other users and can sell out before settlement.

Kalshi · Trade $25 and Get $25!

VENICE

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Certain limitations apply. The offer is available to new users only, subject to the terms and conditions at kalshi.com/tc/500. 18+ only. Restrictions and eligibility requirements apply. Event contract trading involves significant risk and is not appropriate for everyone. Please carefully consider if it is appropriate for you in light of your personal financial circumstances. Kalshi products are not available in all jurisdictions. See kalshi.com/regulatory for more information.

Last checked October 21, 2026

	ProphetX	Kalshi
Welcome offer	Trade $50, get $75 — code VENICE	Trade $25, get $25 — code VENICE
Minimum to qualify	$50 trade	$25 trade
Regulation	CFTC Designated Contract Market and Derivatives Clearing Organization	CFTC Designated Contract Market
Self-clearing	Yes — holds its own DCO licence	No — clears through a third party
Market focus	Built around sports: games, futures, player contracts	Sports, politics, economics, weather, culture
Coverage	49 states + DC (not Nevada)	47 states + DC (not Nevada, Michigan or Washington)
Minimum age	18 (or the local age of majority if higher); we recommend 21+	18+ (we recommend 21+)
Devices	iOS, Android, web	iOS, Android, web
Who sets the price	Other traders (order book)	Other traders (order book)
Exit before settlement	Yes — sell any position anytime	Yes — sell any contract anytime

Best for sports

ProphetX · Trade $50, Get $75

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Best all-round catalog

Kalshi · Trade $25, Get $25

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Also compare Polymarket vs ProphetX and Kalshi vs Polymarket.

21+ Only. New users only. Restrictions and eligibility requirements apply — ProphetX is not available in Nevada. ProphetX is a CFTC-regulated Designated Contract Market and Derivatives Clearing Organization; it is not a sportsbook. Event contract trading involves significant risk and is not appropriate for everyone. Please carefully consider whether it is appropriate for you in light of your personal financial circumstances. See prophetx.co for full terms and conditions.

Frequently asked questions

Is ProphetX or Kalshi better for sports?

ProphetX, if sports is all you trade. Its whole exchange is built for game contracts, futures and player markets, and the Trade $50 Get $75 welcome credit is the bigger of the two ($75 against Kalshi's $25). Kalshi is the better single account if you also want politics, economics and weather contracts on the same balance.

Are ProphetX and Kalshi both federally regulated?

Yes. Both are CFTC-approved Designated Contract Markets. ProphetX goes one step further and holds its own Derivatives Clearing Organization licence, granted 11 June 2026, so it clears its own contracts rather than routing to a third-party clearinghouse.

Can I use both ProphetX and Kalshi?

Yes, and most active sports traders do. Running both lets you compare the two order books before taking a position, and both welcome offers are new-user only — you can claim each once with code VENICE.

Which one is available in more states?

ProphetX's welcome offer covers 49 states plus D.C. (not Nevada); ProphetX publishes no state list. Kalshi's welcome offer is available in 47 states plus D.C. (not Michigan, Nevada or Washington); courts have ordered Kalshi to block sports contracts in Nevada, Michigan and Washington, where other markets may stay open.

Is ProphetX a sportsbook?

No. ProphetX is a prediction market. You trade Yes/No contracts against other traders in an order book, you can sell a position before an event settles, and there is no house taking the other side. Delete (ProphetX's earlier history is not in our facts file); keep: ProphetX LLC has been a CFTC-designated contract market since 11 June 2026.