Choosing a platform
These profiles compare market focus and the rules to check before using a platform. They are not a performance ranking or a claim of hands-on testing. Access, fees and available contracts depend on the product and your location; consult the linked official sources before depositing money.
Polymarket
Polymarket offers markets on a range of events. Its international platform has geographic restrictions and fees that vary by market. Polymarket US is a separate CFTC-regulated designated contract market; its rules and availability should be checked separately.
- Compare the liquidity and settlement rules of the specific contract.
- Check geographic eligibility, funding methods and the fee schedule for the product you intend to use.
Kalshi
Kalshi operates as a CFTC-regulated designated contract market. Exchange registration does not mean that every contract has received individual regulatory approval or that trading is risk-free.
- Read each contract’s outcome definition and settlement source.
- Review current fees, eligibility and available orders before trading.
PredictIt
PredictIt focuses on political event contracts. Its operation is subject to the conditions of CFTC no-action relief, including the amendment in Letter 25-20. Check current trading fees and position limits rather than relying on older summaries.
- Political questions include their own resolution criteria.
- Fees and position limits affect how much you can trade and your net return.
Platforms at a glance
| Platform | Market focus | Regulatory context | Before trading |
|---|---|---|---|
| Polymarket | Event contracts | Depends on product and jurisdiction | Fees, eligibility and settlement |
| Kalshi | Event contracts | CFTC-regulated DCM | Contract rules and current fees |
| PredictIt | Political events | Conditional CFTC no-action relief | Current fees and position limits |
User-created markets and platform differences
Manifold Markets lets users create prediction markets under its community rules. Its play-money currency, mana, cannot be converted to cash. It provides a way to practise forecasting without treating a play-money balance as investment returns.
A shared interface does not make different markets interchangeable. Compare the underlying contract, settlement process, liquidity and total costs, even when several markets appear in the same application.