Vardan KhachatryanPrediction markets in New York
12 of the 15 apps we rank are open here, and 9 offer sports contracts.
- Apps restricted or contested
- Kalshi, Polymarket US, DraftKings Predictions, Fanatics Markets, FanDuel Predicts, PrizePicks, Underdog Predict
- Rulings and actions in New York
- 3 on record, listed in the timeline
- Legal sports betting
- Mobile since January 8, 2022, taxed at 51%
- Minimum age
- 18 on most apps; 21 at New York sportsbooks
- Federal appeals court
- Second Circuit: has not ruled on the question
- Last change
- September 24, 2026
Each entry on this page links the ruling or report it rests on. Nothing here is legal advice.
Why prediction markets are legal in New York
Prediction market apps sell event contracts: yes-or-no questions that pay $1 if the answer is yes. The CFTC regulates the exchanges that list them.
That is federal oversight, so the apps hold no New York gaming license. They say only the CFTC can police their contracts.
New York rejects that. Its Gaming Commission, attorney general and governor all call the sports contracts unlicensed gambling, and they have gone to court.
So far the state has won one ruling and no orders. Nothing stops New Yorkers from trading today. Here is who offers what, and where the risks sit.
Which prediction market apps work in New York
Most apps we rank accept New York residents. Kalshi, Polymarket US, Gemini, OG, Robinhood, Coinbase, Webull, ProphetX and Novig list sports contracts here.
The sportsbook brands mostly hold back. DraftKings and FanDuel run licensed sportsbooks in New York, so their prediction apps skip sports here.
Underdog Predict, PrizePicks and Fanatics Markets offer no event contracts in New York. Interactive Brokers lists no sports anywhere.
The table lists each app in our ranking order, with its status here and a link to our review.
| App | Status in New York | More |
|---|---|---|
| Kalshi | Contested for all event contracts, with no restriction in force | Is Kalshi legal in New York? |
| Gemini Predictions | Available, sports included | Gemini Predictions review |
| Polymarket US | Contested for all event contracts, with no restriction in force | Polymarket review |
| OG | Available, sports included | OG review |
| Interactive Brokers | Available; it lists no sports contracts anywhere | Interactive Brokers review |
| Robinhood | Available, sports included | Robinhood review |
| ProphetX | Available, sports included | ProphetX review |
| Coinbase | Available, sports included | Coinbase review |
| Webull | Available, sports included | Webull review |
| Novig | Available, sports included | Novig review |
| DraftKings Predictions | Available, but not for sports contracts | DraftKings Predictions review |
| Fanatics Markets | Not available | Fanatics Markets review |
| FanDuel Predicts | Available, but not for sports contracts | FanDuel Predicts review |
| PrizePicks | Not available | PrizePicks review |
| Underdog Predict | Not available | Underdog Predict review |
Is Polymarket legal in New York?
Yes, for now, through Polymarket US. It runs on a CFTC-designated exchange and accepts New York residents, sports included.
New York wants that stopped. On September 24, 2026, the attorney general sued Polymarket US as an unlicensed gambling operation.
The petition mirrors the one against Kalshi. It targets sports, culture and election contracts, and seeks three times Polymarket's gains.
Polymarket US moved the case to federal court the same day. It also sued the state, asking a judge to declare its gambling laws preempted.
The international site, polymarket.com, is a different product and is close-only for Americans. Our Polymarket review covers the US app.
How a prediction market trade works
Every contract is a yes-or-no question. It pays $1 if the answer is yes and nothing if it is no.
The price is the crowd's odds. A contract at 60¢ means traders put the chance at about 60%.
Say the Yankees are 60¢ to win tonight on Kalshi. You buy 100 contracts for $60, plus a $1.68 fee.
If they win, you collect $100, a $38.32 profit. If they lose, you are out $61.68.
You can also sell before the result, at whatever the market pays then. New to this? Start with what prediction markets are.
What New York has said about prediction markets
New York's position fits in one line: a sports contract is a bet, and bets need a state license.
The Gaming Commission said so first. On October 24, 2025, it ordered Kalshi to stop running what it called an unlicensed mobile sports wagering platform.
Attorney General Letitia James has since sued four platforms. “Gambling by another name is still gambling,” she said in April, suing Coinbase and Gemini.
Governor Kathy Hochul joined the Polymarket and Kalshi announcements. “Nobody is above the law in our state,” she said of Polymarket.
Age runs through every filing. The state says these apps let 18- to 20-year-olds trade, below its betting age of 21.
The court cases that shape New York's rules
Three cases matter most, and all of them sit in federal court in Manhattan.
The first is Kalshi's own challenge. On July 7, 2026, a judge refused to block the state, ruling its gambling laws reach Kalshi's sports contracts.
Kalshi's appeal, No. 26-1835, is before the Second Circuit, alongside two Connecticut cases.
The second is the state's July 31 suit against Kalshi. Kalshi moved it to federal court, and New York wants it sent back.
The third is the federal government's. The United States and the CFTC sued New York on April 24, 2026. Their injunction request is still undecided.
New York's suits against Coinbase and Gemini were moved to federal court as well.
Other apps have sued New York too. Denying Novig emergency relief on August 11, Judge Colleen McMahon pointed straight at Kalshi's case.
Our page on whether Kalshi is legal in New York covers the Kalshi cases in full.
What New Yorkers can trade
Sports lead. Game, season and player markets cover the Yankees, Mets, Knicks, Nets, Rangers, Islanders, Sabres, Bills, Giants, Jets and Liberty.
Politics is close behind. Governor Kathy Hochul faces Republican Bruce Blakeman on November 3, 2026, and both Polymarket US and Kalshi list the race.
Weather trades daily. Kalshi lists the highest temperature in New York City each day, settled against The Weather Company's data.
Economics and crypto markets round it out.
The risks for New York traders
The law could shift quickly. A Second Circuit loss for Kalshi, or a win in the state's own suits, could close contracts here.
You can lose everything you put into a contract. A 90¢ favorite that loses pays nothing.
Taxes are unclear. New York taxes the profits as income, but how the IRS treats event contracts is not settled.
Trade only what you can afford to lose. Our responsible trading guide covers limits and where to get help.
What could change for New York traders
Four things could. The Second Circuit has Kalshi's appeal, and New York's brief is due October 30.
A federal judge could rule on the United States' request to block New York. That would reach every CFTC exchange at once.
Other judges must decide whether the state's suits go back to state court, where New York filed them.
Or the Supreme Court could settle it. New Jersey has asked it to, after the circuits split. A ruling there would apply in every state.
Our litigation tracker follows each of these cases.
New York prediction market timeline
Every change to prediction markets' standing in New York, newest first. Each entry links the ruling or filing behind it.
Prediction markets vs sports betting in New York
Sports betting is legal in New York for adults 21 and over. Nine licensed mobile apps take bets, including DraftKings, FanDuel, BetMGM and Fanatics.
The state takes 51% of their mobile revenue in tax. They cannot take bets on games involving New York college teams.
Gambling outside that system is barred by the state constitution, Article I, Section 9. New York's petitions cite it first.
Prediction markets sit outside that system. You trade against other people on an exchange, not against a sportsbook's odds.
The prices look alike, but the CFTC supervises the exchange, not the Gaming Commission. If a dispute comes up, complain to the app first, then to the CFTC.
How to choose a prediction market app in New York
Start with what you want to trade. Most apps cover sports. For politics, Polymarket US and Kalshi list the widest range.
Then compare fees. They vary more than prices do. Our fee comparison works out each app's cost on the same trade.
Weigh the legal exposure too. New York has sued four of these apps, and the same law reaches all of them.
Our app rankings score every app on the same six criteria. If you use Kalshi, read whether Kalshi is legal in New York first.