Best Polymarket Alternatives: Top Prediction Markets (2025)

Kalshi is the best Polymarket alternative for US users in 2026. It's CFTC-regulated, offers political and economic markets, provides tax forms, and has secured over $1 billion in funding. For existing Robinhood users, the Robinhood integration provides even easier access through familiar interfaces. Polymarket's US beta is also now available but limited to waitlist access and sports markets only.

Yes, limited US access is now available through Polymarket's CFTC-approved beta program. However, it's currently waitlist-only and restricted to sports markets. Political markets for US users are expected in Q2 2026. The global Polymarket platform still blocks US users—only the official US beta is legal for Americans. Using VPNs to access the global platform remains against terms of service and potentially illegal.

PredictIt is operating in reduced capacity in 2026. After losing its CFTC no-action letter in 2023, the platform stopped creating new markets and has been winding down operations. Existing markets remain tradeable, but liquidity is low and the platform's future is uncertain. For political market trading, most users have migrated to Kalshi, which offers similar markets with proper CFTC regulation.

Polymarket has the lowest fees overall—0% on standard markets and 0-1.5% on 15-minute crypto markets (with maker rebates available). Polymarket US beta also charges 0%. Kalshi charges 1-7% on profits. PredictIt has the highest fees at 15% total (5% trading + 10% withdrawal). Decentralized platforms like Augur charge 1-2% plus variable gas fees. For active traders, Polymarket's near-zero fees provide significant edge.

Robinhood offers prediction markets through a partnership with Kalshi. You access them directly in the Robinhood app using your existing account and balance. Trades are executed on Kalshi's CFTC-regulated exchange, so you get the same regulatory protections. Fees are the same as Kalshi (1-7% on profits). The market selection is more limited than Kalshi's full platform, but the integration makes it very convenient for existing Robinhood users.

Decentralized prediction markets like Augur and Zeitgeist offer censorship resistance and no KYC, but liquidity is very low—typically 10-100x less than Polymarket or Kalshi. Spreads are wide (10-30%), making profitable trading difficult. They're best for: (1) traders who prioritize decentralization ideology, (2) markets that centralized platforms won't list, (3) creating custom markets. For most traders, centralized platforms offer far better trading experience.

Yes, arbitrage opportunities exist between Polymarket and Kalshi, typically offering 2-5% spreads on political markets. However, challenges include: (1) Kalshi is US-only while Polymarket global blocks US users, (2) different fee structures eat into profits, (3) settlement and resolution criteria may differ, (4) capital must be locked on both platforms. For non-US traders who can access both, or US traders using Polymarket US beta, arbitrage can be profitable on larger positions where fees become proportionally smaller.

Polymarket has the best liquidity by far, with 1-2% spreads on top markets and ability to trade $10K-100K without significant slippage. Kalshi is second with 2-4% spreads on top markets and $5K-25K capacity. PredictIt has the $850 position limit regardless of liquidity. Decentralized platforms have very poor liquidity—10-30% spreads and often can't support trades over a few hundred dollars without major price impact.

Using multiple platforms makes sense for several reasons: (1) Access to different markets—some only exist on certain platforms, (2) Arbitrage opportunities between price differences, (3) Diversifying counterparty risk, (4) Regulatory hedging—if one platform faces legal issues. However, splitting capital reduces buying power on each platform. Most serious traders use Polymarket as their primary platform with Kalshi for US-specific access or regulatory comfort. Start with one platform to learn, then expand.

CNN displays prediction market odds from their partnership with Kalshi. During major events like elections and economic data releases, CNN shows Kalshi's market prices as probability indicators. This mainstream media integration has helped legitimize prediction markets and increased awareness of the category. Other media outlets primarily reference Polymarket odds, especially for international events, though they don't have formal partnerships.