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The prediction market scene is filled with different sites. With so many new sites popping up, it can be difficult to keep track of which options are trustworthy. Therefore, you must read prediction market reviews to find legitimate platforms.
This guide unpacks everything you should know about these platforms. You will find details on the various future event prediction contracts, including trading and non-trading fees. You can also check out how to read market prices as probabilities for sports, crypto and climate outcomes. Come tag along to get the lowdown and see why prediction markets have grown in popularity.
This page has all the details you would need about prediction markets. From the best sites to join to the different experiences from the user reviews shared. However, have you ever stopped to think about what prediction markets are? Well, this guide has got you covered!
Unlike the features generally found with sportsbook reviews, things work a little differently on prediction sites. These platforms are not sportsbooks. There are no odds, and they do not set their own markets or lines.
Instead, prediction sites provide you with a platform to trade on the outcome of real-world events. In a nutshell, you are predicting whether a specific event will occur. Below is an overview of prediction sites, including the types of platforms, markets, and potential fees.
When you check out esports betting site reviews, you will find details about gambling board licenses. Since prediction sites are not online sportsbooks, there are no gambling regulators.
Trusted prediction platforms are regulated by the Commodity Futures Trading Commission (CFTC). The CFTC regulates prediction sites in the US. CFTC-regulated platforms are federally permitted to operate in the US. There are some state restrictions, though. It is a good idea to double-check whether these platforms are available where you reside.
The main types of prediction platforms are Designated Contract Markets (DCMs) and Futures Commission Merchants (FCMs). A Designated Contract Market is a platform that has its own prediction exchange. Whereas an FCM partners with a CFTC-regulated DCM to provide the prediction contracts.
Casino games are the focal point for online casino reviews. When reading prediction market reviews, the main focus is on the future event prediction markets. Many platforms cover a broad range of categories.
The six main markets are sports predictions, crypto projections, climate forecasts, cultural results, economic decisions and political outcomes. For many of these options, market volumes and liquidity are high. Thus, it is easier to close prediction positions early if required. So, keep an eye on market volumes and liquidity before entering any prediction trade.
The table below unpacks the main market types and prediction contract examples found on the best sites:
| Future event | Market types | Prediction contract examples |
|---|---|---|
| Sports | Match winners, championship winners, live markets, MVPs | |
| Crypto | Token launches, daily and annual projections | |
| Climate | Weather forecasts, natural disasters, snow and rainfall | |
| Culture | TV shows and movies, celeb news and gossip, music charts and top performers | |
| Economic | Fed decisions, unemployment, inflation, GDP and interest rates | |
| Politics | Local and foreign elections, court decisions, Trump news |
Prediction trades are in binary form (Yes or No). Winning prediction positions settle at $1. Losing outcomes close at $0. Market prices are depicted as probabilities. So, the higher the price, the more likely traders believe a specific event to occur.
Let’s say that the Buffalo Bills are $0.75 to beat the New York Jets. Sorry, Jets fans! This means that the Bills have a 75% probability of winning the game. If you purchase $100 of Yes prediction contracts, you will receive 133.33 contracts ($100/0.75).
If the Bills beat the Jets, your prediction position settles at $1. You will receive $133.33. If the Jets cause the upset and beat the Bills, you will lose your $100.
That is all to it; it is straightforward to read prediction market prices as probabilities.
Two common fees found are trading and non-trading fees. You have to understand these, otherwise it will be difficult to track your funds.
Prediction trading fees consist of service and exchange fees. These fees usually range between $0.01 to $0.02. They are charged when entering into a prediction trade. Also, sometimes when closing your prediction position early.
Non-trading fees are similar to banking fees discussed with fantasy sports site reviews. These costs are not added when making prediction trades. Rather, these are incurred when funding your account or making withdrawals. So, keep an eye out for debit card fees!
Making prediction trades on your PC is simple on prediction sites. Reputable platforms have easy to use websites. Prediction contracts are in English, and some sites even have tutorial videos for newbies. With search tools and banners, you should not have any issues finding what you are looking for.
If you are always on the move, then make prediction trades while out and about. Mobile apps and mobile-optimized websites ensure you can use your phone to buy and sell prediction positions. A nice touch is that all mobile options mirror the desktop version. So, you can enjoy the same features.
A bit of advice, though: make sure you have a stable internet connection. Otherwise, it can take a while for prediction contracts to load!
Prediction market reviews always zone in on bonuses and promos. After all, every prediction trader wants some freebies. Like the bonuses detailed in social casino reviews, there are new and existing user rewards on prediction sites. The main promos include sign up offers, referral bonuses, and incentive programs.
Here are the details for each:
Detailed insights into trusted sites
Provide first-hand experiences
Find tips to maximize your time
Takes a while to understand market prices
There are lots of new prediction sites entering the industry. Just jumping in and using a site is not the answer. If you are new, it can take a while to understand the features. Therefore, you have to do your research first. By reading user reviews, you can see firsthand how the markets work. This is helpful if you are looking for pointers to maximize your time.
User reviews are also a great way to see how different features work. So check out withdrawal processing times and customer service ratings. Every review will be different. That way, you can learn many things from different individuals.
If you want to try prediction markets, the first step is to sign up. Feel free to use the banners on this page to find reliable platforms. Also, read the user reviews shared so you know what to expect before joining a site.
Prediction markets are platforms where you can trade on the outcome of real-world events. Usually, all prediction trades are in binary (Yes or No). Remember, market prices are represented as probabilities.
Platforms regulated by the Commodity Futures Trading Commission are federally permitted in the US. You must be 18+ to register at these platforms.
The main markets are sports, crypto, climate, cultural, economic and political outcomes.
Reviews provide you with a firsthand insight of what to expect from prediction markets. By reading reviews, you can see the positives and the shortcomings of different platforms.
