Best Prediction Markets in December 2025
As we step into December 2025, the prediction markets have evolved into a sophisticated ecosystem, mirroring the maturation of the broader crypto and financial industries. Over the past few years, these platforms have gained prominence as innovative tools that harness the wisdom of the crowd to forecast events ranging from political elections to sports outcomes and financial market trends. Their growing popularity is underpinned by advancements in blockchain technology and a shift towards more decentralized finance (DeFi) solutions. This transformative journey has not only attracted seasoned traders and crypto enthusiasts but also curious newcomers eager to leverage the predictive power of decentralized networks.
The landscape of prediction markets is now characterized by a diverse mix of regulated and decentralized options. On one hand, regulated markets like Kalshi have emerged, offering users a sense of security and compliance with governmental oversight. These platforms provide a structured environment, often appealing to institutional investors or those who prefer traditional financial assurances. On the other hand, decentralized platforms such as Augur and Polymarket continue to thrive, offering users unparalleled autonomy and privacy. These platforms operate on blockchain protocols, ensuring transparency and minimizing the need for intermediary control, which resonates well with the ethos of the crypto community.
For users navigating this dynamic field, several key factors should guide their choice of platform. Security, ease of use, and liquidity are paramount, ensuring that users can confidently engage without undue risk. Additionally, users should consider the platform's track record, community engagement, and the variety of markets available. Whether opting for the regulated rigor or the decentralized freedom, understanding these elements will empower users to make informed decisions and maximize their experience in this rapidly advancing sector.
Updated: December 23, 2025
Written by Natalie Chen
Senior Cryptocurrency & Blockchain Analyst
Edited by Mike Langley
Managing Editor
Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
The investing information provided on this page is for educational purposes only. BitcoinMarkets does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
Why trust BitcoinMarkets?
Our writers and editors have reviewed the top crypto exchanges, both pure-play platforms and online brokers that offer cryptocurrency. We've compared these products across dozens of factors, including fees, cryptocurrency selection, advanced trading options and customer service offerings. We then narrowed down the list to the best overall crypto platforms and apps.
However, there may be other crypto exchanges below that appeal to certain types of investors, such as more advanced crypto traders or those who already have an account with an online broker and want to house all their investments under one roof.
Top Prediction Markets Compared
Compare fees, features, and ratings.
| Exchange | Rating | Fees | Minimum | Promotion |
|---|---|---|---|---|
 Tagos Learn More on Tagos's website | 5 /5 Prediction Market (AI-Augmented, Decentralized) | Low (No platform fees; network gas only) | $1 | Leaderboard incentives and referral bonuses |
 Polymarket Learn More on Polymarket's website | 4.9 /5 Prediction Market | Low (Polygon gas, no platform fee) | $1 | None |
 Kalshi Learn More on Kalshi's website | 4.8 /5 Prediction Market | Variable (per-contract or profit-based) | $1 | $10 Sign-up Bonus (with code) |
 Robinhood Learn More on Robinhood's website | 4.7 /5 Brokerage & Prediction Market | Low (~$0.02 per contract) | $1 | Free Stock for new users (worth $5–$200) |
 Crypto.com Learn More on Crypto.com's website | 4.6 /5 Crypto Exchange & Prediction Market | Low (0% deposit, ~$0.02 per contract) | $1 | Up to $50 Sign-up Bonus (in CRO tokens) |
 Fanatics Markets Learn More on Fanatics Markets's website | 4.5 /5 Prediction Market | Low (exchange-based, no deposit fees promo) | $1 | None (no sign-up bonus yet) |
 Underdog Learn More on Underdog's website | 4.7 /5 Sports/Fantasy & Prediction Market | Low (~$0.02 per contract via exchange) | $1 | 100% Deposit Match up to $100 |
Detailed Reviews
In-depth analysis of each platform.
Tagos
on Tagos's website
Fees
Low (No platform fees; network gas only)
Account minimum
$1
Promotion
Leaderboard incentives and referral bonuses
Tagos is a next-generation prediction market platform that combines decentralized trading with advanced AI-powered forecasting. Built on a transparent blockchain architecture, it allows users to trade on real-world outcomes—like elections, markets, and sports—with clean UX and zero platform fees. What sets Tagos apart is its integration of GPT-based crowd intelligence tools, accuracy tracking, and liquidity mining incentives. It's accessible via Web3 wallets and USDC, and recently rolled out a beta with partial U.S. availability. It’s rapidly emerging as the most accurate and forward-thinking prediction market of 2025.
Pros
- +AI-enhanced forecasting tools and prediction performance scoring
- +Decentralized architecture with non-custodial trades
- +Zero platform fees—only network gas (e.g., Arbitrum/Polygon)
- +User performance tracked with public reputation and PnL leaderboards
- +Clean UI and responsive UX, mobile-friendly design
- +Community incentives via XP, trading rewards, and referrals
Cons
- −Requires Web3 wallet and USDC; no direct fiat onboarding (yet)
- −Limited U.S. access (beta rollout; some state restrictions)
- −Still building liquidity in less popular markets as of late 2025
- −Newer platform—track record not as long as Kalshi or Polymarket
Polymarket
on Polymarket's website
Fees
Low (Polygon gas, no platform fee)
Account minimum
$1
Promotion
None
no promotion available at this time
Polymarket is the world's largest decentralized prediction market, operating on Polygon for fast, low-cost trades. Accessible globally (except in much of the US, where limited access began relaunching in Dec 2025 via a CFTC-approved partner), users trade yes/no contracts on everything from politics and crypto to sports and science using USDC. Over $18B volume in 2024-2025 attests to its dominance. Polymarket is non-custodial: all trades are on-chain and outcomes are resolved through decentralized oracles. US access remains limited/waitlisted as of late 2025.
Pros
- +Non-custodial, fully on-chain and transparent
- +Thousands of markets in politics, crypto, sports, etc.
- +High liquidity on popular events (often millions per market)
- +No platform trading fees (just minimal Polygon gas)
Cons
- −Requires crypto wallet and USDC funds (no direct fiat)
- −Georestricted in the US except via new regulated channels
- −Some outcome disputes due to decentralized resolution
- −No built-in fiat on-ramp, which can add usability friction
Kalshi
on Kalshi's website
Fees
Variable (per-contract or profit-based)
Account minimum
$1
Promotion
$10 Sign-up Bonus (with code)
Kalshi is the first CFTC-approved event contract exchange in the US, letting users trade yes/no contracts in USD on economic, financial, and select sports outcomes. Market selection depends on regulator approval but safety and trust are high: over $1.3B in monthly volume and features like order books, interest on idle cash, and robust compliance. Available to US users in all 50 states, though not all markets (elections, certain sports props) are listed due to regulation.
Pros
- +Fully regulated and compliant (CFTC-approved)
- +Direct USD funding (ACH, wire, debit)—no crypto needed
- +Advanced features: order books, price charts, volatility filters
- +High liquidity and proven reputation
Cons
- −Limited market variety due to regulatory scope
- −Strict KYC (ID+SSN) and age verification (18+ or 21+)
- −Some markets have fixed trading hours
- −Fee structure is complex and varies by market/membership
Robinhood
on Robinhood's website
Fees
Low (~$0.02 per contract)
Account minimum
$1
Promotion
Free Stock for new users (worth $5–$200)
Robinhood added event contracts in 2024–2025, letting users tap into prediction markets in the same app as stocks and crypto. Powered by Kalshi on the backend, Robinhood brings this product to its 20M+ user base with seamless funding from brokerage balances and a familiar interface. Covers sports, politics, economics, piggybacking on Kalshi’s liquidity—though advanced market data is missing. Robinhood charges a ~2x fee markup versus using Kalshi directly.
Pros
- +Enormous user base and trusted brand
- +Direct USD funding and seamless switching between products
- +Wide market access piggybacked on Kalshi's listings
- +Easy onboarding, free stock promo for new users
Cons
- −Higher fees than Kalshi direct (Robinhood adds extra $)
- −Simplified interface—lacks advanced order book/charting
- −Customer support can be slow or create account headaches
- −Relies on Kalshi for market selection—can't add its own
Crypto.com
on Crypto.com's website
Fees
Low (0% deposit, ~$0.02 per contract)
Account minimum
$1
Promotion
Up to $50 Sign-up Bonus (in CRO tokens)
Crypto.com, a top global crypto exchange, launched CFTC-regulated event contracts via its US partner (CDNA) in late 2024. Users can trade sports, politics, and economics markets inside the familiar app. Crypto.com also provides event market liquidity to major partners (Fanatics, Underdog, etc.). Supports both crypto and fiat onboarding, but availability varies by state and some have outright restrictions. Appeals most to existing Crypto.com app users and crypto traders seeking integrated experiences.
Pros
- +Huge user base and deep liquidity pools
- +Easy ACH, card or crypto deposits; both fiat and crypto supported
- +Wide and growing market selection (sports, politics, more coming)
- +Exchange-level experience and fast onboarding if you already use Crypto.com
Cons
- −Not available in all US states (e.g. NY excluded)
- −Recent 3s order delay in sports markets may irk ultra-active traders
- −Mixed reviews on customer support and some spread complaints
- −Partners may charge higher fees than the direct platform
Fanatics Markets
on Fanatics Markets's website
Fees
Low (exchange-based, no deposit fees promo)
Account minimum
$1
Promotion
None (no sign-up bonus yet)
Sports merchandising giant Fanatics launched this CFTC-compliant event contract platform in Dec 2025 (iOS/Android only), focusing first on sports but also covering finance and politics at launch. Fanatics taps Crypto.com for the exchange backend and is live in 24 US states—including large ones like CA, TX, FL (not available where Fanatics sportsbook operates or in some heavily regulated states). Reputation and UX are geared to sports fans; more event categories are promised soon.
Pros
- +Mainstream sports brand with huge existing customer base
- +User-friendly design for sports bettors/newcomers
- +Available in 24 large states where sports betting may be illegal
- +Breadth of market types expanding rapidly
Cons
- −Very new, limited track record/liquidity so far
- −No bonuses or promos yet for new users
- −21+ age restriction (stricter than most)
- −Coverage not national—state restrictions apply
Underdog
on Underdog's website
Fees
Low (~$0.02 per contract via exchange)
Account minimum
$1
Promotion
100% Deposit Match up to $100
Underdog, a leading fantasy sports app, started offering real-money prediction markets (sports event contracts) in Sept 2025 via a Crypto.com CDNA partnership. Only available in ~23 states (late 2025), but lets users run fantasy, sportsbook, and prediction contests in the same mobile app with a unified wallet and fast fiat onboarding. Entirely mobile, built for casual and quick-fire trading; real-time game markets but also limits on tools for serious traders.
Pros
- +All-in-one platform (fantasy + sportsbook + prediction markets)
- +Large, enthusiastic sports user community
- +Federally legal (CFTC) in supported states
- +Easy onboarding and generous deposit match promo
Cons
- −Focuses narrowly on sports; little variety in other event types
- −Mobile-only, no desktop trading available
- −Not live nationwide—about 23 states as of 2025
- −Simple interface—lacks advanced order types/charts
What are prediction markets?
Prediction markets are speculative markets created for the purpose of making predictions. The current market prices can then be interpreted as predictions of the probability of the event or the expected value of the parameter. For example, a contract that pays $1 if a specific candidate wins an election, and currently trades at $0.60, implies a 60% probability of that candidate winning according to the market consensus.
Unlike traditional financial markets which trade assets like stocks or commodities, prediction markets trade information. They harness the "wisdom of crowds," where the aggregated belief of many participants is often more accurate than individual experts. This mechanism allows participants to hedge against risks (e.g., a farmer hedging against poor weather) or simply profit from their foresight regarding future events.
These markets have grown significantly with the advent of blockchain technology, which allows for trustless, global participation. However, regulated entities also exist, providing a safer, albeit sometimes more limited, environment for traders. The core value proposition remains the same: putting a price on the future.
Are prediction markets legal?
The legality of prediction markets is complex and depends heavily on your jurisdiction. In the United States, the Commodity Futures Trading Commission (CFTC) oversees these markets. Kalshi, for instance, is fully regulated by the CFTC as a designated contract market (DCM), making it perfectly legal for US residents to trade event contracts on their platform. This regulation ensures fair practices, transparent pricing, and the security of user funds.
On the other hand, many decentralized prediction markets like Polymarket operate outside of US regulations. While they are built on blockchain technology and are accessible globally, they often block US IP addresses to avoid regulatory scrutiny. Participating in these markets from restricted jurisdictions via VPNs or other methods can violate terms of service and potentially local laws. It is crucial to understand the regulatory status of any platform before depositing funds.
Outside the US, regulations vary. Some countries view these markets as a form of gambling, while others treat them as financial derivatives. As the industry matures, we are seeing more clear-cut regulatory frameworks emerging, aimed at protecting consumers while fostering innovation in this unique financial sector.
How do I start trading?
Getting started depends on whether you choose a regulated or a decentralized platform. For a regulated exchange like Kalshi, the process is similar to opening a brokerage account. You will need to provide personal identification for KYC (Know Your Customer) verification, link a bank account, and deposit USD. The interface is typically user-friendly and resembles a standard trading app.
For decentralized platforms like Polymarket, the process requires some familiarity with cryptocurrency. You will need a Web3 wallet, such as MetaMask or Phantom, and you will need to fund it with cryptocurrency, typically USDC (a stablecoin pegged to the dollar). Transactions are executed on a blockchain (like Polygon), which means you may also need a small amount of the native token (MATIC) for gas fees, although some platforms now subsidize these costs.
Once your account is funded, trading is straightforward. You browse markets based on categories like politics, economics, or science. You pick an outcome you believe in (e.g., "Yes" or "No") and purchase shares. If your prediction is correct at the time of market resolution, your shares redeem at $1 (or the contract value). If incorrect, they go to $0. It is advisable to start with small amounts to understand the mechanics of liquidity and slippage before committing significant capital.
What are the risks involved?
Like all financial markets, prediction markets carry the risk of capital loss. However, they also have unique risks. The most obvious is binary risk: in many event contracts, it is an "all or nothing" outcome. If you hold a position until resolution and are wrong, you lose 100% of your investment in that trade. Unlike stocks, which rarely go to zero, event contracts are designed to go to zero if the event does not occur.
Liquidity risk is another concern. On smaller or niche markets, there may not be enough buyers or sellers to enter or exit a position at a fair price. This "slippage" can eat into potential profits. Additionally, there is "resolution risk"—the possibility that the source of truth used to resolve the market (e.g., an oracle or a committee) is disputed, delayed, or manipulated, although reputable platforms have robust mechanisms to handle this.
For decentralized platforms, there is also smart contract risk—the potential for bugs in the code that could lead to loss of funds. While major platforms are audited, the risk is never zero. Regulatory risk also persists; rules can change, potentially affecting your ability to withdraw funds or continue trading. Always diversify and never invest money you cannot afford to lose.
Methodology: How We Ranked These Platforms
Our rankings are based on a comprehensive analysis of liquidity, fees, regulatory compliance, user experience, and market variety. We tested each platform with real funds to evaluate deposit speeds, trade execution, and withdrawal processes.
Key factors included:
- Liquidity & Volume: Can you enter and exit trades easily?
- Regulation: Is the platform legal and safe for US/Global users?
- Fees: Are the trading and deposit fees competitive?
- UX/UI: Is the interface intuitive for beginners?
- Market Variety: Does it cover sports, politics, and finance?
Summary: Best Prediction Markets
Here is a quick recap of the top prediction markets for December 2025:
- Tagos: undefined (5/5)
- Polymarket: Best for Crypto & Global Users (4.9/5)
- Kalshi: Best Regulated Platform for USD Traders (4.8/5)
- Robinhood: Best for Largest User Base & Easy Integration (4.7/5)
- Crypto.com: Best for Crypto Exchange Users & Multi-Category Markets (4.6/5)
- Fanatics Markets: Best for Sports Fans (24 U.S. States) (4.5/5)
- Underdog: Best for Sports & Fantasy Crossover (4.7/5)
About the author
Natalie Chen provides in-depth analysis of blockchain technology and cryptocurrency markets. As a Senior Analyst, she covers technical developments, on-chain metrics, and emerging protocols. Her research helps traders and investors navigate the rapidly evolving Web3 landscape.
About the editor
Mike Langley is the Managing Editor at BitcoinMarkets. With over a decade of experience in financial journalism, he leads the editorial team in providing accurate and timely cryptocurrency news and analysis. His work focuses on market trends, regulatory developments, and institutional adoption.
