ProphetX Prediction Markets
ProphetX is a federally regulated, sports-first prediction exchange where participants trade event contracts directly with other market participants. This guide explains how prices, orders, liquidity, fees, parlays, live trading, legal-state access, deposits, withdrawals and promotional offers work.
Review ProphetX OfferMarket access, promotion terms, fees and available sports can change. Confirm current eligibility and contract rules before funding an account or placing a trade.
What ProphetX Is and What Participants Trade
ProphetX combines sports-market pricing with an exchange order book rather than a traditional single-dealer sportsbook model.
Participants take positions on defined sports outcomes and trade directly against other users. ProphetX supplies the marketplace, matching technology, collateral controls, clearing process and settlement rules, but it doesn't set a house line and accept the opposite side of every position.
Searchers often use phrases such as ProphetX sportsbook or ProphetX sports betting because the available markets resemble familiar moneylines, spreads, totals and player props. Legally and operationally, ProphetX is structured as a prediction exchange for event contracts. Our broader prediction markets guide explains how this exchange model compares with other platforms.
Every executed position is fully collateralized. Participants must have enough available funds to cover the maximum possible loss before an order enters the market, which prevents an order from creating an unfunded obligation.
How ProphetX Trading Works
Price, available liquidity and order instructions determine whether a position executes immediately or waits for another participant.
Choose the Sports Outcome
Select a game, future, prop or live market, then review the exact settlement terms and the sides available to trade.
Accept or Request a Price
Match current liquidity for faster execution or enter a preferred price that can rest in the market for another participant.
Review the Filled Amount
Available market depth determines whether the full order fills, only part fills or the entire order remains open.
Manage or Hold the Position
Participants can manage eligible positions while trading remains open or hold through official event settlement.
Market Orders, Limit Orders and Fill Status
Order choice controls the tradeoff between execution speed and price certainty.
Market Orders
A market order uses the best prices currently available in the order book. It prioritizes immediate execution but doesn't guarantee one exact price when the order must consume several levels of liquidity. When available liquidity can't fill the full requested cost, the filled portion appears in the account and the unfilled amount returns to the available balance.
Limit Orders
A limit order sets the exact price or better that the participant is willing to accept. It provides more control but may fill partly, remain open or never execute. ProphetX can send a text notification when a resting order fills, provided the participant enables that notification setting.
Full Fill
The entire requested amount finds matching liquidity and executes immediately at eligible prices.
Partial Fill
Available liquidity executes part of the order. For a limit order, the remaining amount can rest in the market waiting for a match.
Resting Order
A requested price that improves on current market prices remains visible until another participant accepts it, it is canceled or the market closes.
How ProphetX Liquidity and Market Pricing Work
Visible depth helps participants estimate whether an order is likely to fill and how much price movement it could create.
Liquidity at Each Price
The amount shown beneath a price represents the cash currently available at that level. An order within that amount can usually execute without waiting for new liquidity.
Slippage
A large market order can move through several price levels. Its final average price can therefore be less favorable than the first price displayed.
Market Overround
Overround is the total implied probability across all available outcomes. A total closer to 100% generally indicates tighter, more competitive pricing.
ProphetX Sports Markets, Props and Live Trading
ProphetX concentrates on sports and supports pregame, futures, prop and in-play positions across major leagues and competitions.
Major US Leagues
MLB, NFL, NBA, NHL, WNBA and college competitions can include game lines, futures and additional market types.
Global Sports
Soccer, tennis, golf, UFC, Formula 1 and other competitions expand the board beyond the major US leagues.
Player Props
Published prop availability includes MLB, NHL, NBA, NFL, PGA and DP World Tour markets, with the selection changing by event.
Live Orders
Participants can submit orders during supported live events and are responsible for monitoring or canceling their own resting orders.
In-Play Order Delay
Live orders include a short delay designed to reduce unfair execution while prices move during play. ProphetX reduced the MLB delay from five seconds to two seconds beginning July 29, 2026, and stated that other leagues would follow. Current timing should be checked in the market before submitting an in-play order. Any live resting order that remains unfilled is canceled when the event concludes, and its reserved cost returns to the account balance.
ProphetX Fees, Straight Trades and Parlays
ProphetX publishes a fee on profitable straight markets while listing parlay trades at a different rate.
Straight Trade Fee
Published platform terms charge 2% of net gains per market on straight trades. Losing positions don't produce a net gain for this calculation.
Parlay Trade Fee
Published terms currently list a 0% trading fee on net gains from parlay trades. Rates can change, so the active order screen controls.
Peer-to-Peer Parlays
Parlays and same-game parlays are matched against third parties. ProphetX operates the mechanism rather than taking the opposing side.
Simple Straight-Trade Fee Example
Suppose all positions in one settled market produce a $100 net gain. A 2% fee on that net gain equals $2, leaving $98 after the published trading fee. Actual settlement depends on every position in the market, the contract terms and any updated fee schedule.
Example Calculation
Parlay Settlement
A standard parlay requires every active leg to win. Void and push treatment depends on whether the parlay contains several selections from the same event. Same-event combinations can cause the entire parlay to push when one included selection pushes, so participants should read the applicable sports and parlay rules before trading.
Where ProphetX Is Legal and Available
ProphetX operates under federal derivatives regulation, while actual access still depends on current location controls and legal orders.
Federal Registration
ProphetX became a CFTC-registered Derivatives Clearing Organization on June 10, 2026, and a Designated Contract Market on June 11, 2026.
Nationwide Access
ProphetX currently advertises nationwide access and specifically states that it isn't operating in Nevada.
Eligibility Controls
Participants must satisfy age, identity, location and account rules. The current offer states that users must be at least 18 and located where participation is permitted.
| Location | Current ProphetX Position | Practical Meaning |
|---|---|---|
| California | Included in current nationwide availability | Eligible users can currently access ProphetX in California, subject to verification and platform controls. |
| New York | Included in current nationwide availability | Current access means searches such as “is ProphetX legal in NY” generally resolve to yes for eligible users. |
| Nevada | Not operating | ProphetX expressly excludes Nevada from its current nationwide availability statement. |
| Other US States | Generally available under the current nationwide policy | Availability can still change because of litigation, regulatory action, product restrictions or geolocation rules. |
ProphetX Sign Up Bonus, Promo Code and Referral Offer
ProphetX currently advertises a new-user offer that awards $20 in promotional credit after the participant completes a qualifying first trade of at least $10. Published terms say the credit is issued within 24 hours and doesn't have a rollover requirement.
This is an offer rather than a guarantee that a typed ProphetX promo code is required. ProphetX also displays a separate give $25, get $25 referral promotion inside the platform. A ProphetX referral code, referral link, qualifying action and approval rules can change, so the offer shown during registration controls.
Review Funding MethodsNew accounts only. Promotional credit is advertised within 24 hours after the first qualifying trade. Users must be 18 or older and located where the platform permits participation.
ProphetX Deposits, Withdrawals and Processing Times
Funding methods vary by account, bank and transaction size, and every financial instrument must belong to the registered account holder.
Online Banking
Aeropay supports bank deposits and withdrawals for eligible accounts. Deposits are generally credited after successful confirmation, and some banks support instant withdrawals.
Cryptocurrency Deposits
Zerohash provides supported cryptocurrency deposit processing. Crypto isn't listed as a standard withdrawal method in the published withdrawal instructions.
Wire Transfers
Published instructions permit wire deposits of $1,000 or more and wire withdrawals of $5,000 or more, subject to bank verification and required documents.
| Transaction Method | Published Minimum or Timing | Key Conditions |
|---|---|---|
| General Deposit | $10 minimum | Maximums vary by method and account history. |
| Aeropay Deposit | Normally credited after successful confirmation | Availability and bank support can vary. |
| Wire Deposit | $1,000 minimum and up to 72 hours | Same-name personal bank account and documentation required. |
| Most Withdrawals | Often processed within 24 hours and sometimes up to 5 business days | Method, verification, holidays and bank processing affect timing. |
| Paper Check | Allow 7 to 14 days after confirmation | Check can only be mailed to the address on the account. |
| Wire Withdrawal | $5,000 minimum and up to 72 hours | Approved same-name bank account and supporting documents required. |
ProphetX prohibits third-party deposits, withdrawals to another person and business-account transactions. Using a payment source that isn't in the participant's legal name can delay the transaction, place the account on hold or lead to account closure.
Marketing materials may show cards as an available payment choice for some users, while the detailed published funding instructions list Aeropay, Zerohash and wire transfers. The methods displayed inside the verified account are the current options for that participant.
How ProphetX Differs From Kalshi and Polymarket
All three brands use exchange-style event markets, but their product focus, user experience and account structures aren't identical.
| Feature | ProphetX | Kalshi | Polymarket |
|---|---|---|---|
| Primary Focus | Sports-native exchange with deep moneyline, spread, total, prop, future and parlay coverage. | Broad event marketplace covering sports, politics, economics, finance, culture, weather and other topics. | Broad event marketplace. Polymarket US is separate from the international crypto-based platform. |
| US Regulatory Structure | ProphetX LLC is both a CFTC-designated contract market and registered clearing organization. | Kalshi operates a CFTC-designated exchange with separate affiliated clearing infrastructure. | Polymarket US operates through a CFTC-designated exchange and separate registered clearing organization. |
| Trading Interface | Sports odds, liquidity amounts, price requests, market orders, limit orders and an RFQ-based parlay mechanism. | Event contracts commonly displayed in cents with Yes and No positions and a broad category catalog. | Outcome-share trading with separate US and international products, rules and account access. |
| Published Fee Approach | 2% of net gains on straight markets and 0% on parlay gains under the current published schedule. | Transaction fees can depend on contract price, quantity, product and order characteristics. | Fees depend on the applicable US or international product, market category and current schedule. |
| Best-Known Distinction | Built specifically around sports exchange trading and direct-clearing infrastructure. | Longer-running US prediction app with extensive non-sports market coverage. | Large international prediction ecosystem plus a separate regulated US exchange. |
ProphetX is the most sports-focused of the three. Kalshi is designed for participants who want sports and many non-sports categories in one account. Polymarket is split between a regulated US product and an international product with different technology, eligibility and funding rules.
ProphetX Regulation, Account Protection and Trading Risk
Regulatory status and segregated funds reduce certain operational risks, but they don't prevent trading losses or guarantee liquidity.
CFTC Oversight
ProphetX operates under DCM and DCO registrations that impose market, clearing, compliance, surveillance and reporting obligations.
Segregated Collateral
Required funds move into segregated collateral when orders match, and ProphetX becomes the central counterparty for settlement.
Market Risk
An incorrect position can lose the entire amount at risk. Live price movement, slippage and thin liquidity can also affect the result.
Technology Risk
Outages, connectivity failures or order-entry problems can delay an attempt to place, modify or cancel a position.
ProphetX Company History and US Expansion
ProphetX developed its sports exchange model before launching its current federally regulated US market structure.
Sports Exchange Foundation
ProphetX was founded and began developing peer-to-peer sports market technology through an earlier regulated UK model.
US Applications Submitted
ProphetX submitted applications seeking federal registration for its exchange and clearing operations.
Federal Approval and National Launch
CFTC clearing registration arrived June 10, exchange designation followed June 11, and ProphetX announced its national launch on June 18.
Review ProphetX Prices, Rules and Eligibility Before Trading
Start with the market's available liquidity, settlement terms and maximum loss. Then confirm current state access, funding methods, promotional requirements and the fee displayed for the position.
Review ProphetX Offer