ProphetX
ProphetX is a US exchange where users trade positions on sports results with each other. How it works and where it stands.
US prediction exchange, not a licensed sportsbook in our markets
This brand is not licensed in the markets we cover (or only in part of them), so it has no Wayfinder Score. If you play there, you do not get the protections a local licence brings: limits, self-exclusion and a regulator to complain to.
- Model
- Peer-to-peer sports event contracts
- Oversight
- CFTC (United States), according to the company
- Cost
- Commission on winnings
- Market
- United States
How it works
On ProphetX you do not bet against a bookmaker. Users buy and sell contracts on a sports result with each other, and the exchange takes a small commission on winnings. A position can be sold before the game ends.
The company started with a sweepstakes model and says it now operates under the oversight of the CFTC, the US derivatives regulator.
Where it stands
Sports event contracts sold under federal derivatives rules are disputed by several state gaming regulators, who see them as sports betting without a state licence. ProphetX holds no licence in the markets we cover (US, UK, Ireland, Spain, Germany, Portugal, South Africa and Ontario) outside that federal framework.
It is not open to players in the UK or Europe.
What to know
Calling it a prediction market does not change the fact that money is staked on the result of a game. State self-exclusion schemes may not apply.
We do not score prediction exchanges.