Prediction Market Exchange
Companies offering prediction market exchange in the iGaming industry — 6 listed.
Underdog
New York, New York, USA
Underdog (Underdog Sports, Inc.) is a U.S.-based sports technology company that operates a rapidly growing fantasy sports and event‑contracts platform. Founded in 2020 by Jeremy Levine, Brandon Stakenborg, and Trevor John, the company initially focused on season‑long fantasy drafts and pick‑’em contests. It quickly gained traction by offering a mobile‑first user experience, creative contest formats, and aggressive customer acquisition bonuses. By 2024, Underdog became the first company to launch a CFTC‑regulated sports prediction market in the United States through its wholly‑owned subsidiary, Underdog Predict. This market allows customers to trade event contracts on the outcomes of professional sports, regulated by the Commodity Futures Trading Commission (CFTC) and executed on a CFTC‑registered designated contract market (DCM). In 2025, Underdog raised a $70 million Series C funding round led by Spark Capital, valuing the company at more than $1.2 billion and cementing its status as a unicorn in the sports technology space. The platform is available in 49 U.S. states, Washington D.C., and all Canadian provinces except Ontario. With over $2 billion in customer winnings paid out, Underdog has carved out a significant niche by blending traditional fantasy sports elements with regulated event‑based trading.
ADI Predictstreet
Abu Dhabi, UAE
ADI Predictstreet is a prediction market platform based in Abu Dhabi and licensed in Gibraltar, enabling users to forecast outcomes of various real-world events. Launched in 2026, it quickly became the Official Prediction Market Partner of the FIFA World Cup 2026™, positioning itself as a regulated platform for collective intelligence. The company aims to expand its offerings beyond sports to cover entertainment, culture, weather, and political events, leveraging its blockchain infrastructure.
Fanatics Markets
New York, New York, U.S.
Fanatics is a global digital sports platform that encompasses licensed sports merchandise, collectibles, sports betting, and prediction markets. Its 'Fanatics Markets' division specifically offers a prediction markets platform where users can trade on the outcomes of real-world events, including sports, politics, economics, and culture.
DKeX
Boston, Massachusetts, United States
DKeX is DraftKings' proprietary, CFTC-regulated prediction markets exchange, launched on June 26, 2026. It serves as the underlying technology powering DraftKings Predictions, integrated into the unified DraftKings: Sports & Casino app, allowing DraftKings greater control over its prediction market offerings and enabling expansion into new states.
Kalshi
New York City, New York, United States
Kalshi is a New York-based prediction market and the first exchange federally regulated by the U.S. Commodity Futures Trading Commission (CFTC) to let people trade on the outcomes of real-world events. Founded in 2018 by MIT graduates Tarek Mansour and Luana Lopes Lara, it lets users buy binary 'yes/no' event contracts on politics, economics, sports, weather and culture, and rose to a reported $22 billion valuation by 2026.
Recent News
Irish Gambling Authority Warns of High Court Action Against Offshore Prediction Platform
Ireland's gambling regulator is preparing to seek a High Court blocking order against a major offshore prediction market operator that failed to comply with warnings, as European regulators increasingly target such platforms and Gibraltar introduces its own separate regulatory framework.
Kalshi Adds 3 Million Users as World Cup Fuels Record Trading Volume
Kalshi gained 3 million new users during the 2026 FIFA World Cup, with over $1.2 billion traded on its winner market. The platform used broad partnerships—from soccer stars to a singer and an actor—to drive sign-ups, while facing ongoing regulatory pushback over whether sports-event contracts constitute gambling.
Allwyn's Digital-First Strategy: CEO Spajic Outlines Innovation and Omnichannel Vision
Allwyn Digital CEO Kresimir Spajic discusses the company's digital transformation, including its Q1 2026 revenue growth, expansion into prediction markets via PrizePicks, and focus on AI-driven personalisation and omnichannel experiences, ahead of his appearance at SBC Summit Lisbon.
Council of Europe presses FIFA to rebuild integrity framework after 2026 World Cup controversies
Council of Europe Secretary General Alain Berset urged FIFA to strengthen World Cup integrity for 2030, citing the politically influenced lifting of Folarin Balogun's ban and a controversial $150 million prediction market sponsorship as key concerns from the 2026 tournament.
Pascal raises $9M Series A to target institutional prediction market traders
Prediction market startup Pascal has closed a $9 million Series A led by Union Square Ventures, building on a $6 million seed round. The company targets institutional traders with perpetual futures-style event contracts and faces a regulatory landscape under increasing scrutiny.
Prediction Markets: Operators and Regulators Eye a New Betting Vertical
Prediction markets are gaining mainstream attention thanks to platforms like Kalshi and Polymarket, and Gibraltar is leading the regulatory conversation on responsible oversight. Industry experts expect the vertical to coexist with traditional sportsbooks rather than replace them.
Five Tribes Push for Federal Action Against Prediction Markets, Citing Threats to Tribal Sovereignty
The Inter-Tribal Council of the Five Civilized Tribes has adopted a resolution urging federal action against online prediction markets like Kalshi and Polymarket, arguing they undermine tribal sovereignty and operate as unregulated sports betting. The council warns that these platforms bypass the gaming compacts and regulatory systems that have governed tribal gaming for decades, while Oklahoma residents lose tax revenue and exclusivity payments to offshore operators.
Arizona Election Chief Bans Internal Betting on Electoral Events as State Opens New Wagering License Window
Arizona Secretary of State Adrian Fontes banned internal election wagering by state employees to protect electoral integrity, while the Arizona Department of Gaming opened applications for 10 limited event wagering licenses, potentially opening the door for prediction market operators.
IGA Chairman to testify on prediction market risks for tribal gaming at House hearing
IGA Chairman David Bean will testify before a US House subcommittee on July 21 about the threats unregulated prediction markets pose to tribal gaming, building on earlier joint opposition with the AGA and concurrent regulatory actions in Arizona.
White House Teleprompter Operator Suspended Over Alleged Insider Trading on Kalshi Prediction Markets
Gabriel Perez, President Trump's longtime teleprompter operator, has been suspended and is under CFTC investigation for allegedly using inside knowledge of Trump's speeches to win over $90,000 on Kalshi's prediction markets. The White House placed him on unpaid leave, and he is cooperating with regulators who are discussing a potential settlement.
2026-07-16RegulationInsider TradingFederal InvestigationPrediction MarketsWhite HouseUnited StatesClinical TrialMike SeligAppliedXLAnne WojcickiGeorge SantosKalshiPolymarketTrump Media and Technology GroupGabriel PerezRobert DeNaultKaroline LeavittDavis IngleDonald TrumpGannon Ken Van DykeMichele SpagnuoloTarek MansourJosh Gottheimer
US Bipartisan Bill Mandates Facial Recognition Age Checks for Sportsbooks and Prediction Markets
A new bipartisan US bill would require online sportsbooks and prediction markets to use facial recognition to estimate users' ages before bets or trades, backed by Kalshi and ParentsRISE, with co-sponsors citing data showing high rates of underage gambling and thousands of flagged underage accounts.
BetConstruct AI’s Harmony Predictstreet Draws 300+ Industry Leaders to Yerevan for Eighth Edition
BetConstruct AI’s eighth Harmony event, now named Harmony Predictstreet, brought over 300 C-level leaders to Yerevan for networking and product unveilings, underscoring its partnership with FIFA partner ADI Predictstreet. The two-day program combined cultural experiences at Garni Temple with product presentations at SoftConstruct headquarters.