ProphetX Review

Written by

Founder & Editor-in-Chief

Fact-checked by Catie Di Stefano Updated June 30, 2026 9 min read

Our verdict

ProphetX is the sports specialist of US prediction markets. It was designated a CFTC contract market on 11 June 2026 (and registered as a clearing organization on 10 June 2026), announced its launch on 18 June 2026, and is built around sports; its welcome offer covers 49 states plus D.C. (not Nevada). If you mainly trade games, futures and player markets — this is the account to open second, right after Polymarket.

Scorecard

Trust & Regulation 4.5 / 5

Liquidity 4.0 / 5

User Experience 4.5 / 5

Bonus Value 5.0 / 5

CA Availability 5.0 / 5

Welcome offer

Trade $50, get $75 · code VENICE

Enter promo code VENICE at signup, deposit and place $50 in qualifying trades to unlock $75 in trading credit. New users only. Verified US residents 21+ in 49 states and Washington, D.C. — Nevada excluded.

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.

Code: VENICE

Pros

• Welcome credit: $75 for $50 in qualifying trades
• Sports-native order book with no other categories competing for liquidity
• Works on any device

Cons

• Built around sports — check the app for other markets
• Not available in Nevada
• Newer book than Kalshi outside headline games

Key features

• CFTC Designated Contract Market and Derivatives Clearing Organization
• Built around sports — games, futures and player contracts
• Available in 49 states + DC incl. California (not Nevada)
• iOS, Android and web

What is ProphetX?

ProphetX is a federally regulated sports prediction market. On 11 June 2026 the CFTC designated ProphetX LLC as a contract market (and registered as a clearing organization on 10 June 2026); it announced its launch on 18 June 2026, and its welcome offer covers 49 states plus D.C. (not Nevada). You deposit real dollars and trade Yes/No contracts against other traders. Contracts settle at $1 or $0, so the price in cents reads directly as the implied probability.

Not a sportsbook, not a sweepstakes app

ProphetX used to run on a sweepstakes model. That is over. Under its federal licences it is an exchange: there is no house on the other side of your position, no promotional coin currency, and no locked ticket. Prices come from an order book set by other traders, and you can sell out of a position at any point before an event settles.

Markets and coverage

Built around sports: NFL, NBA, MLB, NHL, college football and basketball, soccer including the 2026 World Cup, golf, tennis, UFC and boxing. Game contracts, season futures and player markets all trade. For a California trader that means Lakers, Warriors, Dodgers, Giants, Padres, 49ers, Rams, Chargers, LAFC and the major CA college programs are all covered. ProphetX is built around sports — that is a deliberate design choice, not a gap. Check the app for other markets.

Liquidity and pricing

Because the whole exchange is pointed at one category, headline games and futures fill quickly and price tightly. Depth thins out on niche props and small-conference college markets, where you'll sometimes need to post a limit and wait rather than take the top of the book. Being able to exit mid-event is the standout structural advantage over a fixed ticket.

Availability and age

Welcome offer valid in 49 states plus D.C. (not Nevada). for verified residents 21 and older. Nevada is the only exclusion. Web, iOS and Android all work.

Welcome offer

Sign up with code VENICE, deposit $10 and place a $10 trade to unlock $20 in trading credit. It is a 2x match on the smallest qualifying deposit of any offer we list, and the credit is usable across the full order book rather than being restricted to a promo market.

Who ProphetX is best for

Sports traders who want a dedicated book, and anyone who wants to compare two order books before taking a position. Pair it with Polymarket for politics and news, and you have the full picture.

State availability

Californians 21+ can open ProphetX and use code VENICE. Outside California, it isn't offered in Nevada.

How we tested

Catie opened and funded an account on ProphetX with her own money (about $200), placed real trades and withdrew.

Ready to try ProphetX?

Trade $50, get $75 · code VENICE

Visit ProphetX (opens in a new tab) Compare all apps

Sources & references

1. KalshiEX v. Assad, No. 25-7516 (9th Cir. Aug. 28, 2026) — opinion (opens in a new tab) — U.S. Court of Appeals for the Ninth Circuit
2. Blue Lake Rancheria v. Kalshi, No. 25-7504 (9th Cir. Sept. 16, 2026) — opinion (opens in a new tab) — U.S. Court of Appeals for the Ninth Circuit
3. KalshiEX v. Schuler, No. 26-3196 (6th Cir. Sept. 25, 2026) — opinion (opens in a new tab) — U.S. Court of Appeals for the Sixth Circuit
4. Flaherty v. KalshiEX, No. 26-299 — Supreme Court docket (opens in a new tab) — Supreme Court of the United States
5. CalMatters — Nonpartisan California news (opens in a new tab) — CalMatters
6. KalshiEX LLC — DCM Registration (opens in a new tab) — CFTC.gov
7. California Council on Problem Gambling — 1-800-GAMBLER (opens in a new tab) — CalPG.org

External links open in a new tab. We cite primary regulatory and major news sources where possible. Citations to trusted regulators (CFTC, SEC, IRS, NOAA, .gov, .edu) are dofollow; commercial outbound links are not endorsements.

Editor's note

I funded and tested ProphetX personally before writing this review: no free press access, no operator-supplied account. My background is 15 years in regulated iGaming, including running the Hard Rock New Jersey online CRM launch under a DGE vendor license, so I hold prediction market operators to a real regulated-operator standard. Catie Di Stefano