Get a 20% Purchase Match up to $100 in Prophet Cash. Prohibited in AZ, CT, ID, LA, MI, MT, NV, NJ, NY, TN, and WA. Players must be 19+ and be residents of the US. Once the bonus hits your balance, you can start using your ProphetX sign‑up bonus across eligible sports prediction markets. The bonus funds will expire after 14 days and cannot be withdrawn for real cash.
21+ only. Gambling problem? Call or text 1-800-GAMBLER (1-800-426-2573). Chat available at ncpgambling.org/chat
ProphetX is a peer-to-peer sports prediction exchange where users trade against each other rather than against a house. It runs on a sweepstakes-style model today, with a federal CFTC licence approval already in hand for a future move to a regulated event-contract structure. New users can claim a 20% Purchase Match up to $100 in Prophet Cash. ProphetX is open to residents in 40-plus US states, with a 19-plus minimum age set by the platform. Our ProphetX review covers how the exchange works, the welcome offer, fees, legal states and where it sits next to Kalshi and Polymarket.
What is ProphetX?
ProphetX is a sports-only prediction exchange built around peer-to-peer trading. Instead of taking a price the house has set, you either back an outcome at the price another user is offering, or you lay it by posting your own price for someone else to take. The exchange matches the two sides and settles the trade once the event finishes.
The platform launched in September 2024 and currently operates under a sweepstakes legal framework, the same broad bucket as social sportsbooks. In June 2026 ProphetX confirmed that the US Commodity Futures Trading Commission had approved its application to operate as both a Designated Contract Market and a Derivatives Clearing Organization. That positions ProphetX to become a fully CFTC-regulated, sports-native prediction market, although it is not yet operating under that framework. Today it still runs on Prophet Cash, the platform’s in-app currency.
The product is deliberately narrow. ProphetX covers soccer, NFL, NBA, MLB, NHL, college football and college basketball. There are no politics markets, no crypto markets and no entertainment markets. If you want to trade an election or an economic indicator, you want Kalshi or Polymarket; if you want to trade match winners and player props on a peer-to-peer book, ProphetX is the cleaner fit.
Get a 20% Purchase Match up to $100 in Prophet Cash. Prohibited in AZ, CT, ID, LA, MI, MT, NV, NJ, NY, TN, and WA. Players must be 19+ and be residents of the US. Once the bonus hits your balance, you can start using your ProphetX sign‑up bonus across eligible sports prediction markets. The bonus funds will expire after 14 days and cannot be withdrawn for real cash.
21+ only. Gambling problem? Call or text 1-800-GAMBLER (1-800-426-2573). Chat available at ncpgambling.org/chat
How ProphetX works
Every ProphetX market has two sides. The back side is the user who thinks the outcome will happen. The lay side is the user who thinks it will not. Prices are quoted in standard American odds. If you back the New York Yankees at +120, you commit your stake at that price. Someone else lays the same bet at the same price, posting the liability they will pay out if the Yankees win. The exchange holds both stakes in escrow and settles after the game.
You can also set your own price. If the best back price on a market is +120 but you want +140, you post the bet at +140 and wait. If another user takes the lay side at that price, the bet is matched. If nobody takes it, you can cancel and your stake is returned. That is the structural reason a peer-to-peer exchange can produce better prices than a sportsbook: the price is set by traders competing for fills, not by a book building margin into a line.
Prophet Cash explained
Trades on ProphetX are denominated in Prophet Cash, the platform’s sweepstakes currency. You purchase Prophet Cash with US dollars and use it to take positions on the exchange. Winning trades return Prophet Cash to your balance, which can be redeemed back to real cash through the platform once it has cleared the qualifying activity rules. Bonus Prophet Cash from promotions is not directly withdrawable; only the winnings generated from trading with it convert to cash.
Is ProphetX legal in the US?
ProphetX is open to US residents in 40-plus states under its sweepstakes structure. It is not currently available in Arizona, Connecticut, Idaho, Louisiana, Michigan, Montana, Nevada, New Jersey, New York, Tennessee and Washington. The minimum age is 19, although some state-specific requirements push that to 21 at sign-up.
State availability is the most likely thing to change between now and the start of the next NFL season. The CFTC approval signals a route to direct federal regulation that, if executed, would put ProphetX on similar footing to Kalshi: a Designated Contract Market accessible in every state. ProphetX has not announced a switch-over date for that framework. Until it does, treat the current sweepstakes structure and the excluded-state list as the working position.
For US users in states where traditional sportsbooks are not legal, the comparison is straightforward. Kalshi is open in all 50 states under federal CFTC regulation. ProphetX is open in 40-plus states under the sweepstakes framework. Polymarket is open for US real-money trading in most states under the QCX licence acquired in 2025. The three platforms are not direct substitutes, and the right one depends on your state and the markets you want to trade.
Sports markets covered on ProphetX
- NFL – moneyline, spread, totals, player props, season-long futures
- NBA – moneyline, spread, totals, player props, championship and MVP futures
- MLB – moneyline, run line, totals, player props, World Series futures
- NHL – moneyline, puck line, totals, Stanley Cup futures
- College football and basketball – regular season and tournament markets
- Soccer – MLS, Premier League and a rotating slate of international fixtures
Liquidity is the practical thing to watch on a peer-to-peer exchange. NFL, NBA and MLB markets fill quickly. Soccer and college markets can sit longer at posted prices because the trading pool is thinner. If you are pricing your own bets, expect the heavy US sports to clear instantly and the soccer book to take a few minutes during the busiest matchdays.
Fees and spreads on ProphetX
ProphetX charges a Payout Adjustment Fee on winning trades only. Industry coverage puts that fee at roughly 2 to 3 per cent of net winnings, which is materially below the implied 4 to 7 per cent overround a typical sportsbook bakes into a two-way line. There is no upfront commission on losing trades and no fee on cancellations of unmatched bets.
The trade-off for the lower fee structure is liquidity risk. A sportsbook will always quote you a price; an exchange only fills your bet if another user takes the opposite side at that price. On the most-traded markets that distinction is academic, but on thinly traded markets you can sit on an unmatched bet through to game time and never trade.
ProphetX welcome offer: 20% Purchase Match up to $100
New ProphetX users can claim a 20% Purchase Match up to $100 in Prophet Cash on their first deposit. Buy $500 in Prophet Cash and the platform credits an additional $100 in bonus Prophet Cash to the account. Smaller deposits scale proportionally: a $50 purchase gets $10 in bonus Prophet Cash, a $100 purchase gets $20, and so on up to the $100 ceiling on $500.
Three things to flag on the terms:
- 14-day expiry. Bonus Prophet Cash that has not been traded expires 14 days after it lands in the account.
- Bonus is non-withdrawable. The bonus itself cannot be cashed out, but any Prophet Cash winnings generated by trading with it can be redeemed once they clear qualifying activity.
- Minimum deposit of $10. Below that, no bonus is applied.
ProphetX pros and cons
Pros
- Peer-to-peer pricing produces tighter lines than a typical sportsbook on heavily traded markets
- You can set your own price on a bet and wait for someone to take it
- Payout Adjustment Fee of 2-3% on net winnings is materially below sportsbook overround
- Open in 40-plus states under sweepstakes, including states without legal sportsbooks like Texas, California and Florida
- CFTC DCM and DCO licences already approved, signalling a route to fully federally regulated event contracts
Cons
- Sweepstakes framework today, not yet operating under the CFTC structure
- Excluded in 11 states including New York, New Jersey and Michigan
- Bonus Prophet Cash expires after 14 days and is itself non-withdrawable
- Sports only – no politics, economics or entertainment markets
- Thinner liquidity on soccer and college markets versus the big four US sports
How to sign up to ProphetX
- Click through to ProphetX from any of the buttons on this page.
- Create an account with your email, a password, and your state of residence. Confirm you are 19 or older.
- Complete identity verification: full legal name, date of birth, address, and the last four digits of your social security number.
- Make a Prophet Cash purchase of $10 or more. The 20% Purchase Match credits automatically up to $100.
- Place trades. Bonus Prophet Cash must be traded within 14 days; winnings from those trades are redeemable to cash once cleared.
ProphetX FAQs
Yes. ProphetX is a registered sweepstakes-model sports exchange operating in 40-plus US states. The platform has also received CFTC approval to operate as a Designated Contract Market and Derivatives Clearing Organization, although it is not yet operating under that federal framework.
New users get a 20% Purchase Match up to $100 in bonus Prophet Cash on their first deposit. Minimum deposit $10. Bonus Prophet Cash expires 14 days after issue. The bonus itself is non-withdrawable, but winnings from trading with it can be redeemed once they clear qualifying activity.
ProphetX is open to US residents in 40-plus states. It is not currently available in Arizona, Connecticut, Idaho, Louisiana, Michigan, Montana, Nevada, New Jersey, New York, Tennessee or Washington. State eligibility is confirmed during sign-up based on the address you provide.
ProphetX sets a minimum age of 19. Some states require 21. The platform applies whichever threshold is higher for the user’s state of residence during identity verification.
ProphetX charges a Payout Adjustment Fee on winning trades only, typically in the 2 to 3 per cent range of net winnings. There is no upfront commission on losing trades and no fee on unmatched bets that are cancelled. Industry coverage places the structure materially below the 4 to 7 per cent implied overround a sportsbook bakes into its lines.
ProphetX is sports only and runs on a sweepstakes model with peer-to-peer matching. Kalshi is a federally CFTC-regulated event-contract exchange open in all 50 states, with markets across sports, politics, economics and entertainment. Polymarket is a CFTC-regulated exchange (via its QCX acquisition) open for US trading in most states. ProphetX sits closest to the social-sportsbook model with a clearer migration path to direct federal regulation.
Yes. Winnings from trades and any Prophet Cash purchased with real money can be redeemed back to US dollars once they have cleared the platform’s qualifying activity rules. Bonus Prophet Cash from promotions is not directly withdrawable – only the winnings it generates can be redeemed.
21+ in some jurisdictions, 19+ minimum on ProphetX. Gambling problem? Call or text 1-800-GAMBLER. Visit ncpgambling.org for help and resources. Bonus terms and state availability are accurate at time of writing and subject to change.