Quick facts about the best prediction market apps
- Prediction market apps cover trading on real-world events, but market lists aren't the same everywhere.
- Some of the best prediction market sites are Kalshi and Crypto.com.
- Access to prediction markets differs by location.
What are prediction market apps?
A prediction market app is where you can trade on the possible outcomes of real-world events. In many ways, we're looking at event contracts with questions and deciding whether the answer is Yes or No.
These apps help you act on what you believe will happen next. They provide outcomes tied to specific events along with resolution rules. During our Kalshi review, we spotted a market about the next Colombian presidential election.
For instance, when we first checked, Kalshi priced Aberlado de la Espriella at 86% and Iván Cepeda at 15%, suggesting that most traders assigned a higher probability to de la Espriella winning the election. However, market prices can change over time as traders react to new information.
The table below highlights some of the most common markets you can trade on:
| Event Contracts | What they do |
|---|---|
| Economics | These contracts are tied to economic event outcomes, such as inflation reports, unemployment growth, or GDP growth. |
| Sports | Sports event contracts focus on sports outcomes, such as game winners, tournament results, and championship outcomes. |
| Politics | Political event contracts allow you to trade on events such as elections, policy decisions, and government appointments. |
| Culture | Culture markets feature entertainment, including award shows, television events, or celebrity-related outcomes. |
| Finance | Finance contracts are linked to assets, such as stocks, cryptocurrencies, or commodity outcomes. |
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What to check before signing up at the best prediction market apps
Before we choose a prediction market app, we usually slow down to confirm a few details, like the ones we are about to share:
🛠️ Accessibility
Not all prediction market sites are available in the US; that's why checking access is important. Confirm whether you can access the site where you are. It determines whether an account can be opened, funded, or used at all.
✅ Account verification
Pay attention to how account verification is done. Some sites make the process quick, but others may require more documentation before you can trade or withdraw. Anyway, the focus should be on whether the steps are explained clearly and easy to do.
💰 Payout
Different sites resolve trades differently. For this reason, you should find out what each trade costs, how the price is set, and what the payout looks like after an outcome is resolved. A good site should help you understand the upsides and downsides before you place a trade.
💸 Fees
Some sites aren't transparent about the fees charged per trade or other fees that may appear. Avoid surprises by checking for trading, withdrawal, or other fees that may affect your return.
📈 Liquidity
Liquidity affects how you can enter or exit a market. If there are not enough buyers and sellers, trade may seem slow. Any site with high liquidity makes trading simple, especially when you want to adjust your position on an outcome. It doesn't guarantee a better outcome, but it helps improve ease of use.
🔄 Exiting before settlement
How easy it is to change your position before settlement is one thing to look out for. Some sites may let you close a trade early if a market moves against you, and not every trade has to be held till the end. Based on our investigation, timing and pricing can affect your return.
Here are examples of the best betting apps for prediction markets
This section covers two of the best prediction market apps based on available information:
Kalshi – Best prediction market app for market coverage
Crypto.com – Prediction market app for sports event trading
Pros and cons of the best prediction market apps
Prediction markets offer a different angle on trading real-world events, but they aren't without limitations. Weighing the pros and cons before signing up is a big step every trader should take. Here's what we found:
Pros and Cons
- Trade on a broad selection of topics
- Available through dedicated apps or a web browser
- Provide helpful resources to help you get started
- Not available in all US states
Conclusion – There's no one-size-fits-all prediction app
When it comes to the best prediction market app, there's no one winner for everyone. Our choice may depend on factors such as where we are and how comfortable we are with losing. For Kalshi, the market is broader for US traders than it is on Crypto.com, which strictly offers sports event contracts.
Before you decide which one to use, check details such as access rules, market availability in your location, and how contracts are priced and settled. You can check our on-page banners to access these sites and begin registration once you're eligible.
Our favorite prediction market apps
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The best prediction market apps FAQs
📈 What is a prediction market app?
Prediction market apps allow you to trade on the outcome of a real-world event. You predict whether a particular event will occur, and the contract is settled based on the result.
🔍 How many event contracts can we trade at prediction markets?
It entirely depends on the site. Kalshi currently displays event categories, such as sports, politics, culture, crypto, commodities, climate, economics, tech, and finance. On the flip side, Crypto.com focuses on sports event trading in the US.
🤔 Which prediction market app is better?
There's no single criterion that determines which site is better. For traders seeking a large selection of event contracts, Kalshi may be a better choice. However, sports event traders who prefer a site with a mobile app may lean toward Crypto.com. Your choice depends on the event contracts you fancy, where you live, and if you can endure the downsides.