PredictIt is a prediction market where US users buy and sell shares in real-world outcomes, primarily political events. Shares are priced between $0.01 and $0.99, reflecting the crowd’s probability estimate. A correct prediction pays $1 per share at settlement.

PredictIt review 2026: Still worth using?

Q: What happens to my money if PredictIt shuts down?

PredictIt has not published a formal wind-down policy publicly. Based on standard platform practice, open positions would likely be settled or voided, and balances returned, but this is not guaranteed.

Q: Does PredictIt report winnings to the IRS?

PredictIt issues 1099 forms to users whose net gains exceed IRS reporting thresholds. Prediction market winnings are generally treated as taxable income. Keep records of your trades and consult a tax professional. The tax treatment of prediction market gains is still an evolving area.

Q: What fees does PredictIt charge?

PredictIt charges a 10% fee on net profits per market and a 5% withdrawal fee. No deposit fees and no per-trade commissions. On a $50 profit, you keep $45. On a $100 withdrawal, you receive $95.

Q: How long does PredictIt account verification take?

Most users are verified within a few minutes if their ID details match cleanly. In some cases, it can take up to 24–48 hours if additional review is needed. You can browse markets before verification is complete, but you cannot deposit or trade until it clears.

Chris Jonat

Content Manager

PredictIt is the most established US prediction market, active since 2014, and you can get started with a $5 deposit. While it once led the prediction market industry, it now faces steep competition. Keep reading to find out if PredictIt is still worth it.

No active bonusWe do not currently have a welcome offer with PredictIt. So, if that, coupled with regulatory uncertainty, gives you pause, check out our top three recommended prediction market apps instead.

PredictIt alternatives worth considering

1Kalshi

Use the promo code CORGBONUS to claim a $20 trading bonus. Only a minimum deposit of $10 is required. Learn more in our Kalshi review.

2Polymarket

Polymarket offers a $50 trading bonus when you sign up with promo code CORG and deposit at least $20. Learn more in our Polymarket review.

3ProphetX

Unlock a $20 trading bonus with your first deposit of at least $10. Use the promo code CORG to qualify. Learn more in our ProphetX review.

PredictIt at a glance

Field	Details
💻Platform type	US and international political prediction markets
💰Welcome offer	None currently offered
💲Minimum trade	$1 per contract; $5 minimum deposit
📱Mobile app	N/A
🏆 Best for	US elections, Senate races, approval ratings
📈Fees	10% on net profits per market; 5% on withdrawals
🎂Minimum age	18+ (21+ in select jurisdictions)
⚖️ Regulation	CFTC no-action letter
🌎US availability	All 50 states

My take on PredictIt and what it has to offer

Chris Jonat

"One of the most notable issues with PredictIt is that it doesn't offer bonuses to users, partially because of its previous operational status. Until it won its federal court case in 2025, PredictIt operated as a not-for-profit academic research project, rather than a typical prediction market. As a result, it lacked the marketing budget of its competitors. Now that it's regulated similarly to other prediction markets, there is a chance the platform could add bonuses in the future. In the meantime, there are plenty of prediction market bonuses for you to explore."

Pros

Deep US political markets: Senate, House, state-level races
$1 minimum trade, the lowest entry point of platforms I tested
Settlement rules published before every market opens
Simple and easy to navigate platform

Cons

Only political markets are available
No welcome bonus for users

PredictIt: Key updates

Here are some of the key moments since PredictIt launched in 2014.

July 2025

PredictIt wins federal court ruling

PredictIt won its case against the CFTC, with federal court authorizing the transfer of PredictIt's operations from Victoria to the Prediction Market Research Consortium, Inc. (PMRC), a US-based not-for-profit corporation.

2024

Record election volume

PredictIt handled its highest trading volume during the 2024 election cycle, with 50+ markets active simultaneously across federal races.

Aug 2022

CFTC withdraws no-action letter

The CFTC announced withdrawal of PredictIt’s no-action letter. PredictIt filed suit to block it, triggering the ongoing legal dispute.

2014

Platform launches

Victoria University of Wellington launches PredictIt under the CFTC no-action letter as an academic research tool.

How to create a PredictIt account

1Register

Visit PredictIt.org and click Sign Up. Enter your name, email, and a password. Takes under two minutes.

2Fund your account

Deposit via credit card, debit card, or ACH bank transfer. Minimum deposit is $5. Card deposits are available immediately.

3Place your first trade

Browse open markets, select Yes or No, read the settlement rules, and confirm your order. Minimum trade is $1.

How PredictIt compares to other platforms

Fee structure and regulatory standing are the two biggest differences between these platforms. Here’s how PredictIt sits against the main alternatives for US users.

Platform	Regulation	Best markets	Welcome bonus
PredictIt	CFTC no-action	US politics, elections	None currently offered
Kalshi	CFTC-designated exchange	Economics, politics, crypto	$20 trading bonus, code CORGBONUS
Polymarket	CFTC-designated exchange	Politics, crypto, culture	$50 trading bonus, code CORG
ProphetX	CFTC-regulated	Sports	Up to $50 bonus, code CORG

What is PredictIt and how does it work?

PredictIt is a prediction market where you buy and sell shares in real-world outcomes, primarily political events. Each market is a yes/no question: “Will X win the 2026 Senate race?”Shares are priced between $0.01 and $0.99. That price is the crowd’s probability estimate. A “Yes” share at $0.65 means the market thinks there’s a 65% chance the event happens. If you’re right, your share pays $1. If you’re wrong, it expires at $0.You don’t have to hold until expiration. You can sell your shares early to lock in a profit or cut a loss, as long as other traders are willing to buy at your price.

How settlement worksEvery PredictIt market specifies the exact data source before trading opens: official election results, a government report, or an index. PredictIt does not decide outcomes; the stated source does.

Is PredictIt legal in the US?

PredictIt launched in 2014 under a CFTC no-action letter originally issued to Victoria University of Wellington. The letter allowed operation as an academic research tool, with a 5,000-participant cap per market. As part of the federal court ruling in 2025, this cap is no longer in place.In 2022, the CFTC moved to withdraw that letter, citing PredictIt’s departure from its academic scope. PredictIt sued to block it, and the platform continued operating while the case works through federal court. The court case was resolved in 2025, with PredictIt winning the case. It now operates like other CFTC-regulated prediction markets.

⚖️ Legal status: June 2026

You can register, deposit, and trade. Future court rulings could affect access. Check PredictIt’s own newsroom before depositing new funds.If continuity of access matters to you, that difference is worth weighing before depositing.

PredictIt mobile experience

PredictIt does not have a mobile app available for iOS or Android devices. However, users can still access the platform through their mobile browser. There, you can browse markets, place orders, manage your portfolio, and handle deposits and withdrawals without switching to desktop.I didn’t experience any freezes or issues during testing. Overall, I consider my experience on mobile to be equal to my experience on desktop. However, it’s important to keep in mind that PredictIt was designed with the desktop experience in mind. Come back here at a later date to check if a mobile app has been added.

Markets available on PredictIt

Political trading is PredictIt’s core strength. No other platform I’ve tested matches its depth on US election markets.

🗳️ US politics
Senate and House races, presidential approval ratings, Supreme Court nominations, and cabinet appointments are all political markets available on PredictIt. Markets typically open months before an event, giving you time to build positions as conditions change.
🌍 International politics
UK elections, EU policy decisions, and foreign leader approval ratings. Less liquid than US markets: spreads are wider and with fewer participants, it can be harder to exit before settlement.
📊 Other markets
While Polymarket and some other prediction markets have plenty of market diversity, that is not the case here. PredictIt exclusively offers contracts related to politics. So, if you want to trade entertainment, sports, or crypto contracts, you'll need to go elsewhere.

📌 Where liquidity is strongestMajor US Senate and presidential markets have the tightest spreads. Start here if you’re new. Niche markets often have wide spreads and fewer buyers when you want to exit.

PredictIt fees and withdrawal costs

PredictIt doesn’t charge per trade. Instead, it takes a cut of your winnings:

10% fee on net profits per market, deducted automatically at settlement
5% fee on withdrawals, charged on the total amount you move back to your bank
No deposit fees
No per-trade commissions

On a $100 profit, you keep $90. On a $200 withdrawal, you receive $190. Factor the withdrawal fee into any exit plan; it adds up alongside your trading costs.

Position limits

PredictIt formerly capped each trader at 850 shares per contract (Yes or No) within a single market. While this wouldn’t affect casual traders, the rule is no longer in place.

Withdrawal timing

Withdrawals take 3–5 business days. ACH deposits may be subject to a hold before you can withdraw, even if you’ve already traded with those funds.

How to deposit and withdraw on PredictIt

Two methods are supported. All funds route through your PredictIt account balance before you can trade.

💳 Credit and debit cards

Visa and Mastercard accepted. Funds appear within minutes. Your card issuer may treat this as a cash advance, so check your card terms before using this method.

🏦 ACH bank transfer

Takes 3–5 business days. No additional fees from PredictIt. Best for larger deposits planned in advance. ACH deposits may carry a withdrawal hold period.

Fee impact in practiceFor every $100 in profit, PredictIt keeps $10. On Kalshi, the same trade would cost roughly $3–$7 in per-contract fees, depending on market volume. If you’re making multiple trades per week, Kalshi’s per-contract fees will likely cost less overall.

US states where PredictIt is available

PredictIt is available in all 50 states. Its CFTC no-action letter authorization is federal, so it doesn’t require separate state licenses.

Available in: All 50 US states and Washington DC
Not available to: Users outside the US; under-18s (or under-21 in select jurisdictions)

The CFTC litigation means that could change. Confirm current access directly on the platform before making a new deposit.

Responsible trading on PredictIt

Every share you buy can expire at $0. Five practices I follow and recommend:

Set a fixed budget before you open the platform. Treat it as money you can afford to lose entirely.
Don’t add to losing positions to chase a break-even outcome.
Read the settlement rules for every market before placing an order.
Take a break after a losing run before re-entering any new position.
Never trade on non-public information. It violates platform terms and may carry legal consequences.

If trading is becoming a problem, call 1-800-GAMBLER or visit ncpgambling.org for free, confidential support.

Overall verdict: is PredictIt worth using?

PredictIt is the right platform if your primary interest is US elections. No competitor I tested goes as deep on Senate primaries, state-level races, or approval-rating movements. The $1 minimum and clean interface make it accessible. A 10% profit fee undercuts your edge on small accounts, which is a big issue for many users.While PredictIt is a good platform for politics traders, it lacks in other areas. As a result, you should explore your other options before committing to using PredictIt as your primary platform. For a direct comparison, check out our Polymarket vs PredictIt page.

Overall rating: 3.7/5 ⭐️⭐️⭐️⭐️

Other prediction markets to consider

While PredictIt is no longer under regulatory scrutiny, there are still several other platforms to explore. Here's a look at a few other top prediction markets.

OG.com: Built under infrastructure from Crypto.com, OG.com is a prediction market on the rise. It specializes in sports, providing users with an impressive depth of contracts. New users can claim the five-day 100% profit boost up to $100, with no OG promo code required.
Crypto.com: The top prediction market platform for crypto event contracts. The predictions section is fully integrated with the crypto trading platform. No Crypto.com promo code is required to claim the up to $50 bonus offer.
Novig: Launched in late 2024 with a focus on sports contracts. It's different from traditional prediction markets, running on a sweepstakes model, so it doesn’t require CFTC registration. New users can get 10% off their first deposit up to $100 with our exclusive Novig promo code CORG.
DraftKings Predictions: Launched in late 2025 across 38 states with CFTC approval. It offers users plenty of market diversity on a familiar platform. New users get a 100% first trade match up to $75, which you can learn about on our DraftKings Predictions promo code page.

PredictIt FAQs

What is PredictIt?

What happens to my money if PredictIt shuts down?

Does PredictIt report winnings to the IRS?

What fees does PredictIt charge?

How long does PredictIt account verification take?

Chris Jonat

Content Manager

Chris has been working in iGaming for 15 years. He has previously worked on online casinos, sportsbooks, iPoker, and the crypto industry, all of which help inform his expert coverage of the emerging prediction markets scene. We may earn a small commission from some links, but Chris's trustworthy insights are always impartial, helping you make the best decision.

Fact-checked by Alexander Korsager

Chief Gaming Officer at Casino.org

As a fact-checker, and our Chief Gaming Officer, Alex Korsager verifies all prediction market details on this page. He manually compares our pages with the prediction app, and if anything is unclear, he contacts the operator. In short, Alex ensures you can make an informed and accurate decision.