Apps Like Kalshi: Best Prediction Market Alternatives in 2026

Best apps like Kalshi by category

While Kalshi might carry the most brand power, there is a surplus of options for enthusiasts, with plenty of complementary prediction market promos. Explore the best alternative prediction markets below: 

• Polymarket - Best for liquidity
• Underdog - Best for sports markets
• OG.com - Best for margin trading
• Crypto.com - Best for crypto
• FanDuel Predicts - Best for beginners

What is Kalshi?

Kalshi is a prediction exchange where you trade simple yes/no contracts on real-world events across sports, politics, economics, pop culture, breaking news, and more. It’s comfortably the most widely used prediction market in the U.S., accounting for 90% of trading activity, with sports markets the most popular by some margin.

Is Kalshi completely legal? Yes, and for a full breakdown, check out our Kalshi review and then head over to our Kalshi promo code to claim your sign-up offer.

Kalshi vs other prediction apps

Kalshi is the most popular prediction app in the U.S. for good reason, but that doesn’t mean it’s without its downsides.

Where Kalshi stands out

• Regulated at a federal level: Kalshi is CFTC-approved, operating as a legal exchange rather than a gray-market platform.
• Widespread availability: Unlike competitors restricted in certain U.S. states, Kalshi is available in every state.
• Strong liquidity: Major events tend to attract steady volume, which means tighter pricing and a smoother trading process.
• Simplified trading: Kalshi does a great job of streamlining the trading process for beginners, and you can place trades with just a few taps.

Where alternatives may be a better fit

• Trending or niche markets: Some competitors have better coverage for niche markets, like crypto movement or alternative culture.
• Crypto-based trading: Crypto is available on Kalshi, but it’s converted to USD before trading. So, you’re not actually trading or holding positions with crypto, compared to actual crypto platforms.
• Bonuses: Kalshi offers relatively limited bonuses and promotions compared to competitors, some of whom have a steady stream of promos.

Compare Top Kalshi alternatives at a glance

See how the top Kalshi alternatives stack up. To learn more about two of the industry-leaders, dive into our exhaustive Polymarket vs. Kalshi guide page.

	Polymarket	Crypto.com	Underdog	OG.com
Compare	Pin	Pin	Pin	Pin
Welcome bonus	Deposit $10, Get $20 Trading Bonus	Unlock $50 Bonus	Play $5, Get $50 in Bonus Entries	Up to $100 in Bonuses
Promo code	COVERS	Use unique link	COVERS	Use unique link
Best for	Global liquidity	Crypto users	Pick-em style	Margin trading
Key differentiator	Largest global user base and deepest markets	Trading with crypto on the platform, rather than converting it into fiat	Supreme accessability as a lighter, social alternative	Global, trading-focused environment
States available	All 50 states + DC	All except AR, AZ, CT, IL, LA, MA, MD, MI, NV, NY, OH	AK, AL, AR, AZ, CA, CO, FL, GA, IL, IN, KS, KY, MA, MI, MN, MO, MS, NC, ND, NE, NH, NJ, NM, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WI, WV, WY	All states except NY and AZ

What's better than Kalshi?

Kalshi may be the market-leading prediction market platform in the U.S., but it’s not the only show in town. Does Kalshi have competitors? Yes, each of the five Kashi alternatives below brings something different to the table and is worth checking out in their own right. 

My expert analysis

Polymarket is officially available across the U.S. via mobile app, and you can jump in using the invite code 'COVERS' to try one of the most buzzworthy prediction market apps of 2026. More crypto-native than most platforms, Polymarket thrives on speed, volume, and real-time reaction to breaking news. From major sporting events to crypto price swings and global headlines, its markets update instantly as sentiment shifts, giving users a live read on where the crowd thinks outcomes are headed.

With simple “Yes” or “No” contracts and a trading experience that feels closer to a fast-moving exchange than a traditional sportsbook, Polymarket is a strong fit for active, data-driven users. If you’re comfortable with crypto and want access to the most dynamic, high-interest markets in the space, it’s one of the most engaging platforms available.

Read our in-depth Polymarket promo code page for a deep dive on the influential operator. You can also refer to our Polymarket review to determine which prediction site is ideal for you in 2026.

My expert analysis

Underdog is much more sports-focused than Kalshi. While Kalshi spreads its markets across politics, economics, and a wide range of other events, Underdog is clearly built around sports first.

There are other markets, but the biggest markets are centered around major U.S. leagues and sports. If you’re mainly interested in sports outcomes, it’s a more natural fit. Underdog is available on both desktop or iOS and Android apps.

Reveal all key features and promotions associated with the Underdog promo code 'COVERS'.

Must be 18+ (19+ in AL, NE; 19+ in CO for some games; 21+ in AZ, MA, and VA) and present in a state where Underdog Fantasy operates. Terms apply. Concerned with your play? Call 1-800-MY-RESET or 1-800-GAMBLER or visit www.ncpgambling.org. NY: Call the 24/7 HOPEline at 1-877-8-HOPENY or Text HOPENY (467369)

My expert analysis

OG.com is a strong fit for users who are comfortable with crypto and want a more global, trading-oriented experience than Kalshi.  OG.com offers a crypto-native prediction market where users buy and sell binary “yes” or “no” contracts across sports, politics, and finance. Contracts trade between $0.01 and $1.00 and settle at $1.00 if the outcome is correct, giving the platform a simple format within a more sophisticated digital-asset ecosystem.

Compared with Kalshi, OG.com feels less like a regulated U.S. event exchange and more like an active crypto trading venue. Its emphasis on features such as leaderboards, parlays, and planned margin trading gives experienced users more ways to engage, while Kalshi is generally more defined by its regulated structure and straightforward event-contract model.

Our OG.com promo code page has all the details you need about the sign-up offer.

My expert analysis

Crypto.com Sports is a better fit if you want a crypto-specific experience. Unlike Kalshi, where crypto is converted to USD before you trade, everything on this platform is built around crypto, from deposits and pricing to the overall structure. You can get straight into predictions without converting in and out of fiat, as 400+ cryptocurrencies are supported, which is preferred by many who prefer the privacy, security, and speed of crypto.

Size up our Crypto.com review that contains all the pertinent details about the Crypto referral code offer.

My expert analysis

FanDuel Predicts feels very familiar if you’ve used a sportsbook before. The layout, navigation, and overall flow are all similar to what you’d expect from FanDuel, so it doesn’t feel like an entirely new site to understand.

Unlike Kalshi, it leans more into that sportsbook-style experience in how everything is presented, even though you’re still trading contracts rather than placing bets, which makes it easier to pick up if you’re coming from sports betting. It’s also exclusively available via the FanDuel Predicts app, so it’s specifically designed for mobile users.

If you want to explore prediction markets without straying too far from the sportsbook experience, this is a natural fit.

Learn more in our in-depth FanDuel Predicts promo code page.

My expert analysis

Novig is a sweepstakes platform, so its structure is entirely different from Kalshi's. Instead of trading with real money, you use a virtual currency (Novig Coins and Novig Cash) to make predictions. Novig Cash can be redeemed for real prizes, too. This is a better option if you don’t want to risk your own money but still want to get involved in prediction markets and see how everything works. As a promotional sweepstakes platform, Novig also offers considerably more bonuses and promotions built into the overall experience.

Learn everything about the Novig promo code 'COVERS100'.

How to choose a Kalshi alternative

The right platform comes down to what you value or are looking for as a trader. A few key differences can meaningfully affect your experience, so it’s worth considering the following before you choose from Kalshi competitors:

• Regulatory model: Look for a CFTC license. CFTC-regulated platforms are licensed exchanges, which means better legal protections for U.S. players. Offshore sites can be more flexible with markets or bonuses, but they have less oversight.
• Market depth/Liquidity: Monitor market activity. High liquidity means tighter pricing and easier exits, whereas low liquidity leads to big price swings.
• Available markets: Consider which events you actually want to trade on. Some platforms focus more on politics and economics, while others concentrate on sports or more niche events.
• State availability: Not every platform is available everywhere. Some are restricted by state laws, while others are accessible more widely across the U.S.
• Fees/contract pricing: Different platforms have different policies around trading fees, spreads, and contract pricing. Small differences in user fees can have a bigger impact on your potential profits, depending on how you trade.

CFTC-regulated vs. sweepstakes prediction apps

There are two main models behind prediction apps in the U.S. On one side, CFTC-regulated platforms are legal exchanges under federal law, where users trade event contracts for real money. The model is similar to other financial trading platforms, distinct from sports betting or gambling, where bettors wager against the house.

Sweepstakes prediction apps, on the other hand, are built around trading with free virtual currency and offering prize redemptions, rather than direct real-money trading. The prizes you can redeem are legally considered promotional sweepstakes prizes, again distinct from regular sports betting.

The key difference isn’t just how they work, but how they’re regulated. CFTC platforms operate under federal oversight, making them generally easy to access from anywhere in the U.S. Sweepstakes laws are up to the state, meaning availability varies depending on where you are. This distinction was illustrated in February 2026, when a Tennessee ruling confirmed that federally regulated trading platforms fall under federal jurisdiction, at least temporarily preventing Tennessee from enforcing state gambling laws against them.

For a full breakdown of the top U.S. trading platforms, check out our prediction markets hub.

Covers Expert Analysis

"If you want real-money trading and nationwide access, prioritize CFTC-regulated platforms. Sweepstakes apps can be useful for casual play, but they often come with restrictions on withdrawals and prize structures that limit long-term value."

Christian Stringer, Sports Betting Editor

Complete list of Kalshi alternatives

How we rate prediction market apps

Learn how we rate sportsbooks

Covers has been rating sports, iGaming, and prediction market platforms for over 30 years. This experience has led us to develop the Covers BetSmart Rating to help ensure you're betting at a safe, legitimate prediction market site. The main factors that go into a prediction market's overall rating are bonuses and promotions, banking and payout speed, key features, security, customer support, user experience, pricing and fees, and much more. These are the core elements that ultimately make or break a prediction market site. We've tested each of these platforms to give you hands-on experience.

Covers BetSmart Rating categories

Now that you know the foundational categories that make up the Covers BetSmart Rating, let's break down each one:

Banking and payout speed

All traders want their earnings quickly, so payout speed is a crucial factor in our evaluation process of the best prediction market sites for withdrawal and deposit options. You also want to have a diverse selection of payment methods to make the process more convenient. The more, the merrier, as they say.

Bonuses and promotions

While a big welcome bonus is always nice, we also verify that the terms and conditions of the most common prediction market sign-up bonuses are fair. We also evaluate promotions for existing customers, like reload bonuses and referral bonuses.

Key features

This is a broad category, but we like to see prediction markets that push the envelope to deliver a fantastic experience. Some of the key features we look for include competitive trading fees, a wide range of market options for major sports, live sports trading, combos, and responsible gambling features.

Security and trust

With real money at stake, you need to know you’re depositing at a site you can trust. Before recommending any prediction market site, we’ll ensure it holds a valid license from the relevant regulators in its jurisdiction. We’ll also ensure the app is safe and secure, protecting your data.

Customer support

If an issue arises, you should be able to have it solved quickly and conveniently by a real person. We appreciate having a wide range of options to reach customer support and how quickly they resolve issues.

Are prediction markets legal in the US?

Yes, prediction markets are legal in the U.S., where they’re regulated by the Commodity Futures Trading Commission (CFTC) as federally registered exchanges. Theoretically, this means that each state has no say over whether platforms like Kalshi can operate, and they don't require a gambling license like traditional sportsbooks do, since they are regulated at every level.

However, state regulators have pushed back, especially as these markets increasingly resemble sports betting. Nevada moved to block Kalshi, arguing its contracts should fall under state gambling rules, and the platform was temporarily restricted from offering certain contracts. On the other hand, a similar measure in Tennessee was found to allow Kalshi to continue operating in the state.

Responsible gambling

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