ProphetX: states, fees and legal status for sports contracts
Updated
- Type
- Prediction-market exchange
- Jurisdictions
- 50 of 51 (49 states and DC)
- Contested
- 2 of those
- Taker fee model
- 2% of net winnings
- Minimum age
- 18+
- Availability checked
- October 5, 2026
- Offers and fees checked
- October 6, 2026
What is ProphetX and who regulates it?
ProphetX is a prediction-market exchange: you buy a yes or no contract on a game’s result, priced from 1 to 99 cents, and it pays $1 if the outcome wins. SlateProof tracks it as a hedge and arbitrage venue on equal terms with the 9 other venues it covers.
- The CFTC's list of designated contract markets shows ProphetX LLC with status Designated, dated 2026-06-11. Source: CFTC, designated contract markets, checked October 6, 2026.
Our availability data describes it this way: “A federally regulated (CFTC) exchange since June 2026; sweepstakes retired. Its state list comes from reviews, not ProphetX's own page.” The federal regulator that oversees the exchange is not the body that licenses sportsbooks, and several states dispute that sports contracts fall under federal law, which is why this page lists the states where it is contested.
In which states is ProphetX available?
ProphetX is listed in 50 of 51 jurisdictions (49 states and DC) as of October 5, 2026, and 2 of those are contested: a court ruling, cease-and-desist or lawsuit about exchange sports contracts is pending there.
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Where is it not listed?
Not listed in Nevada.
Availability checked October 5, 2026; the next recheck is due October 16, 2026. Where you are when you place the bet is what counts, not where you live. Sources: bettingusa.com, oddsassist.com, covers.com.
What age do you need to use ProphetX?
The minimum age is 18 in the states where ProphetX is listed.
The age that applies is the one in the venue’s own app for your state; it can be higher than a state’s legal minimum.
Is ProphetX legal where I live?
It depends on the state, and for sports contracts the answer is being decided in court. SlateProof lists ProphetX in 50 jurisdictions and marks 2 of them contested; those are checked October 5, 2026 and due for a recheck by October 16, 2026.
Contested states
Connecticut and Ohio. Each state page lists what we have sourced about that state.
Not listed
The federal appeals court rulings so far came in Kalshi’s cases; they are listed on the Kalshi page.
What does ProphetX charge?
SlateProof models ProphetX’s taker fee on a pregame sports market as 2% of net winnings, checked October 6, 2026.
| Contract price | Same price as American odds | Fee per $1 contract | Effective decimal after fee | Effective American odds | Break-even win rate |
|---|---|---|---|---|---|
| $0.20 | +400 | 1.60¢ | 4.9200 | +392 | 20.33% |
| $0.50 | +100 | 1.00¢ | 1.9800 | -102 | 50.51% |
| $0.80 | -400 | 0.40¢ | 1.2450 | -408 | 80.32% |
| $0.90 | -900 | 0.20¢ | 1.1089 | -918 | 90.18% |
Worked example. 100 contracts at $0.80 cost $80.00 and pay $100.00 if the outcome wins, a gross gain of $20.00; the fee is about $0.40, so the profit is about $19.60.
- ProphetX's trading-fees page (last updated 2026-10-01) states a 2% fee on net gains per market for straight trades; parlay trades follow a separate fee schedule. Source: ProphetX, Trading Fees, checked October 6, 2026.
The table uses SlateProof’s own fee model per $1 contract. For this model the fee is taken from a win, so the column shows the fee if the contract wins. Your actual order can differ through rounding, maker and taker status and the venue’s current schedule, which the venue’s own fee page controls.
What sign-up credit does SlateProof track for ProphetX?
ProphetX has no recurring promotion that most customers receive, so SlateProof prices it as a hedge venue and for its sign-up credit.
Sign-up credit
| Offer | Where it applies | Ends | Terms we recorded | Checked |
|---|---|---|---|---|
| ProphetX: trade $50, get $75 in incentive funds figures assumed | Everywhere ProphetX operates | No end date stated | Trade $50 in all at contract prices of $0.80 or less (about -400 or longer) within 30 days. Three $25 incentive funds on days 1, 7 and 14; each must be used up before the next. Whether a winning trade returns the credit is unverified, so it is valued like a bonus bet. Minimum age 18. | October 6, 2026 |
Amounts are the catalog’s, not a promise that your account is offered them. A figure marked “assumed” is our own typical value, not one the venue publishes. Credits usually cannot be withdrawn, only what they win. The offer in the app is the one that counts.
How do bets at ProphetX settle when something unusual happens?
Exchange contracts settle by each exchange’s own rules, and those differ from a sportsbook’s in the cases that matter for a hedge or arbitrage.
- A player who does not play. Exchanges do not refund like a sportsbook. ProphetX may grade it No; SlateProof records no settled rule for it, so confirm the contract’s rules. If the other leg is at a sportsbook that voids, one leg can lose.
- A postponed game. On exchanges a postponed game settles at the last fair price, not as a refund.
- An NFL tie. A tied NFL game pushes at the sportsbook but pays $0.50 per contract on exchanges.
- Scope of the market. Confirm that an NHL contract includes overtime and the shootout as a sportsbook does, and that a soccer contract is the 90-minute result, not a full match with extra time.
- A whole-number line. Exchanges may not refund a push, so SlateProof blocks that mix.
- Two exchange legs. When both legs are exchange contracts, confirm that each names the same game and settles on the same result source and deadline.
These are the cases SlateProof’s arbitrage checks flag. The venue’s own rules are the final word, and a locked profit holds only if every leg is accepted and settles as expected.
How does SlateProof use ProphetX?
SlateProof uses ProphetX as a hedge and arbitrage venue and a source of reference prices, under the same rules as every other venue.
- Its own price never sets its own fair value: each quote is screened against a fair value built without it and the books that copy it, and no venue is the main one.
- Its taker fee is in every stake SlateProof shows, an exchange leg needs resting depth (which caps the stake), and a quote whose two sides add up to 100% is a midpoint, not a price you can buy at.
- SlateProof never places a bet or a trade for you.
Official site, guides and calculators
Terms, your state’s availability and your own offers are final on the official site: official ProphetX site. SlateProof is not affiliated with ProphetX and earns nothing from a click.
- Prediction markets and sportsbooks: legality, fees and risks
- Arbitrage betting explained
- Arbitrage calculator with exchange fees
- Hedge calculator
- Odds converter for contract prices
Compare with the other exchanges SlateProof tracks: Kalshi, Polymarket US, Novig, or see all tracked exchanges and the state-by-state table.
See today’s plays at your venues
The live dashboard shows promo plays, sign-up offers and arbitrage with exact stakes, for the venues legal in your state.