ProphetX vs. Kalshi vs. Polymarket: Which prediction market app is best for sports?

More sports fans than ever are heading to prediction markets over traditional sportsbooks for a multitude of reasons. Today, we'll take a look at the differences between ProphetX, Kalshi and Polymarket and see if one stands above the rest when it comes to sports predictions.

ProphetX is one of the more popular choices for sports predictions in 2026. Instead of betting against a bookmaker who’s already baked in a house edge, you’re matched directly with another trader who believes the opposite thing you do. Users who predict correctly will get paid by those who slip up in their decision, and a live market price reflects what the public thinks will happen at a given moment.

While ProphetX is a relative newcomer, Kalshi and Polymarket have been around longer, but which app is the best? The Sporting News outlines everything sports fans need to know about which prediction market app is best for sports.

Plus, it's never too late in the sports calendar to start using ProphetX. New users can get started with the promo code TSN for a $75 prediction bonus.

MORE: A complete guide to predicting with ProphetX

When it comes to prediction markets for sports fans, ProphetX edges out the competition, and there's one major differentiating factor.

No one likes to lose on their predictions. On ProphetX, users only pay an incredibly small (2%) commission fee on their winnings. That means a prediction that misses only loses the original stake, nothing more.

Additionally, the platform has quite a clean interface that makes it easy for fans to navigate through the multitude of sports leagues and market availability on ProphetX. There is a sidebar with all the leagues available to predict on, and there are numbers next to each league that users can easily see specifically how many markets are available per sport.

ProphetX, Kalshi and Polymarket all operate as peer-to-peer exchanges using central limit order books, allowing users to set their own prices via limit orders or accept market rates as either makers or takers. However, their product focus varies significantly: ProphetX is dedicated entirely to sports, offering deep game-day coverage, player props and parlay builders; Kalshi centers on economics, politics and news events, while slowly expanding into major sports futures; and Polymarket leads in global, crypto-native event contracts covering culture, world policy and major championship futures.

ProphetX avoids a hidden vig and charges a modest 2% commission exclusively on net winnings (with zero fees on parlay modes). Kalshi assesses a variable per-contract taker/maker fee (often $0.01–$0.02) calculated directly on the order ticket, settling standard $0–$1.00 contracts in USD upon official source verification. Polymarket charges zero platform trading fees; users only have to cover variable network gas fees and settle $0–$1.00 contracts in USDC stablecoins (crypto).

All three platforms function as peer-to-peer exchanges with Central Limit Order Books, giving traders full control to set their own prices using limit orders. ProphetX delivers a sports-native interface that mirrors traditional sportsbook apps, making it comfortable for fans looking for familiar spreads, totals, and parlay builders. Kalshi provides a clean-style desktop and mobile interface equipped with depth charts, probability curves, and order books. Polymarket offers a modern trading terminal optimized for quick browsing, though it requires users to be comfortable managing crypto wallets.

Unlike non-sports prediction markets that focus heavily on financial data, elections or pop culture, ProphetX is engineered specifically for sports fans. Rather than presenting options strictly as financial contracts, the platform formats trades around familiar sports terminology: moneylines, point spreads, over/unders and player props.

ProphetX also only includes fees on net profits, not losses, which is music to every sports fan's ears. Sports fans who are transitioning from sportsbooks to prediction markets may cherish the fact that markets like ProphetX don't have house-baked lines that are both negative odds, meaning the house will profit regardless of the outcome in the long run.

On a traditional sports app, you have to accept whatever price the bookmaker dictates. ProphetX allows sports fans to set their own odds via limit orders. You can act as the "house" by posting a price for an outcome and waiting for another user to take the other side.

ProphetX is one of the best up-and-coming prediction markets in the country, and the new user promo code doesn't hurt. Currently, first-time traders on ProphetX can claim an enticing welcome offer at sign-up to trade $50 and get $75 in bonus funds.

Once applying promo code TSN, new users must trade $50 on any qualifying market to receive the bonus reward. The $75 bonus will be paid out in three $25 installments over 14 days. With the welcome bonus awarded right out of the gate, new players can have the ability to continue trading on the ProphetX platform using incentive funds rather than having to make an additional deposit right away.

MORE: How to opt in for SN's exclusive ProphetX promo code

ProphetX offers a wide array of markets, such as moneylines, spreads, totals, and player props, across a long list of sports. Here's a list of every sport currently offered on ProphetX:

Here’s where ProphetX differs most from a typical sportsbook experience. Instead of accepting a premade line from the house, ProphetX users choose between two positions: backing an outcome (betting it happens) or laying it (betting it doesn’t). Laying is the part that trips up newcomers, since it’s effectively letting a user stand in the bookmaker’s shoes for a single trade.

Users are not required to accept the best available price, either. They are able to post their own number and wait for someone else to take the other side — a trade sits “resting” in the order book until it's matched, or it fills instantly if their price lines up with what’s already posted. This is closer to how a limit order works on a stock exchange than anything you’d find at a typical betting counter.

Positions aren’t locked in once a user places them. They can close out early — sell a back position, buy back a lay — any time before the event wraps up, which functions a lot like a cash-out but without needing the platform’s permission to do it.

As for how ProphetX gets paid: there’s no vig hidden inside the price. Instead, the platform takes a commission on your net winnings only — around 2% for straight trades and nothing at all on parlays. Lose, and you owe nothing beyond what you already staked.

ProphetX only has one fee: a 2% commission on WINS ONLY. If a user predicts on a market and loses, only their original wager is taken by the platform. If the user predicts correctly, ProphetX takes 2% of their net profits.

For example, if a user predicts $100 on a 50% market to double their money, if that market were to hit, they would earn their original wager back, along with $98; the $2 would go to ProphetX as that commission.

Correct. If users aren't satisfied with the already-existing percentages on ProphetX, they can name their own price and see if the market bites. ProphetX has no oddsmaker at all — every price on the board is just wherever traders have agreed to transact, moving in real time as news breaks and positions shift.

Yes! Once a sporting event is underway, ProphetX's prediction percentages fluctuate depending on what is happening in said sports game.

Kalshi is a U.S.-regulated platform where users can trade on the outcomes of real-world events in a simple and easy-to-understand way.

Each market asks a clear yes-or-no question tied to a specific outcome and date. For example, a market may ask whether a team will make the playoffs or if a player will win the MVP award.

Kalshi offers a wide array of markets across a long list of sports. Here's a list of every sport currently offered on Kalshi:

In most cases, Kalshi charges between $0.00 and $0.07 depending on the contract's price. There are no fees on contracts priced below $0.02 or above $0.98.

Kalshi's transaction fees follow a simple formula: Price × (1−Price).

This means that 50-cent contracts (50% odds) call for the highest fee. Users typically pay around $1.75 per 100 contracts ($0.0175 per contract). Longshots (around 10 cents) or big favorites (around 90 cents) are priced around 63 cents per 100 contracts ($0.0063 per contract). Near certainties, at either one cent or $0.99, are equipped with a very minimal fee (under $0.07 per 100 contracts).

Yes. As a sports event is going on, Kalshi's percentages swing depending on which athlete or team users believe will pull out the win.

Polymarket is a peer-to-peer prediction market regulated by the federal government in the U.S. The platform allows users to purchase and sell contracts, or trade shares, based on the outcomes of real-life events.

Each market offers a clear yes-or-no question tied to a specific outcome and date. For example, a market may ask whether Team A will beat Team B or if a player will win a Most Valuable Player award.

Polymarket offers a wide array of markets across a long list of sports. Here's a list of every sport currently offered on Polymarket:

Every contract or share that is offered is a yes-or-no question. Shares, which are also commonly referred to as contracts, are priced between $0.01 and $0.99, and the price reflects how likely the market thinks that particular outcome is.

If the event happens (Yes), the contract pays the user $1. If the event does not happen (No), the contract pays $0. The user's profit is the difference between what you paid for the contract and the $1 payout, minus any fees.

Polymarket's fees are dependent on which market a user trades on. Here is a table breaking down each taker fee rate per market:

Yes, Polymarket operates on the Polygon network and requires users to have cryptocurrency in order to participate. A user must have a crypto wallet and use the USDC stablecoin (1 USDC stablecoin is the equivalent of 1 US dollar).

A basic knowledge of cryptocurrency is not required, but it would certainly help in setting up an account and using the platform effectively.

Yes, Polymarket features live in-play prediction markets where users can trade on ongoing sports events in real time. Percentages fluctuate depending on what's going on as the game progresses and what users believe the outcome will be.

MORE: Comparing ProphetX's 2% commission fee on wins only with Kalshi and Polymarket costs

Choosing the right sports prediction market platform involves comparing and contrasting which layout speaks to a user, which payment methods are accepted, and other factors. Here are the most important things to keep in mind when choosing which platform to predict with: