# ProphetX

A sports event exchange that is its own CFTC-registered clearinghouse, open from age 18.

*https://predictionmarkets.tools/tools/prophetx · Prediction Market Venues*

## Facts

### At a glance

| Field | Value |
| --- | --- |
| Vendor | ProphetX |
| Category | Prediction Market Venues |
| Job | event_trading |
| Website | https://www.prophetx.co |
| Pricing model | commission |
| Free tier | false |
| Open source | false |
| Licence | none |
| Self-hosted | false |
| Tested hands-on | false |
| Last updated | 2026-10-04 |

### Availability

| Field | Value |
| --- | --- |
| Jurisdictions | us |
| Open to US persons | true |
| KYC required | true |

### Markets

| Field | Value |
| --- | --- |
| Subjects | sports |
| Settlement | cash |
| Resolved by | The exchange, against the governing body of each sport named in the contract's terms (MLB.com for baseball, for example), with ESPN and the Associated Press as secondary sources. |

### Economics

| Field | Value |
| --- | --- |
| Taker fee | none |
| Maker fee | none |
| Other fees | 2% of net gains per market on straight trades, taken at settlement; parlay takers pay a price-dependent rate per dollar of cost, at least $0.01 an order. |
| Liquidity model | clob |
| Platforms | web, ios, android |
| AI features | none |

### Interfaces

| Field | Value |
| --- | --- |
| API | true |
| WebSocket | true |
| Scripting | none |
| Python | false |
| MCP server | false |
| Export | api |

### Capabilities

Yes: order_book, automation, live_trading, portfolio_tracking

No: charting, screening, backtesting, paper_trading, calibration_scoring, cross_venue, alerts, news, tax_reporting

*Verified: pricing 2026-10-04; availability 2026-10-04; economics 2026-10-04; markets 2026-10-04.*

## What it is

ProphetX is a sports-only event exchange: contracts with a $1.00 notional value, listed between
$0.01 and $0.99, that pay $1.00 to the side that is right. Members trade them against each other
on an order book, and ProphetX states on its home page that it "provides the exchange
infrastructure and does not trade against participants".

**It is both the exchange and the clearinghouse.** The CFTC's register lists ProphetX LLC as a
designated contract market with a designation date of **11 June 2026**, and separately as a
derivatives clearing organization registered on **10 June 2026**, permitted to clear fully
collateralised futures, options on futures and swaps. The designation order describes a Delaware
company headquartered in New York, trading on an anonymous electronic central limit order book,
under a **non-intermediated** model in which no futures commission merchant may intermediate a
trade. Rule 3.1 of the rulebook (version 3.0, effective 29 July 2026) makes every participant a
direct self-clearing member.

That makes ProphetX the most vertically integrated venue in this category: the same entity lists
the contract, matches the order, holds the collateral and pays out. There is no broker layer and
no separate clearing firm. The site's footer names ProphetX, Inc., and the iOS app is published by
ProphetX OpCo LLC; how those relate to the LLC is not published.

**This is a relaunch.** Before June 2026 ProphetX ran a sweepstakes promotion sponsored by Stake
Trade, Inc., with Prophet Cash redeemable for prizes and Prophet Points that were not. The terms
of use now in force, version 1.0 dated 10 June 2026, state that they supersede and replace all
prior terms; the sweepstakes rules article is no longer public. One trace remains: the Android
listing's package identifier still reads `com.prophetxsweepstake`.

Not to be confused with DTN ProphetX, an unrelated commodity and stock market-data terminal —
ProphetX's help centre says so itself.

## Availability

**Nationwide except Nevada**, in ProphetX's own words: the home page reads "nationwide" with the
footnote "currently not operating in Nevada". There is no published state list beyond that line.

The enforcement is location-based. The help centre states that access "is restricted from certain
locations and IP addresses as part of our compliance requirements", that a user who sees "Access
Restricted" has been identified as connecting from a restricted location or network, and that
ProphetX cannot grant access to anyone connecting from one. It does not say which locations are
restricted besides Nevada.

The minimum age is **18, or the age of majority where that is higher**, under both the terms of
use (section 3.1) and the market participant agreement (section 4.1).

Identity verification is required before you can deposit, trade or withdraw. Most accounts verify
automatically; where they do not, the help centre asks for photos of the front and back of an ID,
a selfie, and a Social Security number, described as a regulatory requirement under KYC/AML
obligations. Deposits and withdrawals must use a financial instrument in your own name, and
business accounts are not permitted.

## Pricing

**Straight trades: nothing on the fill, 2% of net gains at settlement.** ProphetX's trading-fee
page (version 1.2, updated 1 October 2026) says "All straight trades on site will be charged a 2%
trading fee on net gains per market." The self-certified schedule filed with the CFTC on 12 June
2026, effective 29 June, words it as 2% of net proceeds, "calculated on a per-market basis upon
settlement". A worked example of what that means: 100 contracts bought at 50¢ cost $50; if they
win they pay $100, the net gain is $50 and the fee is $1. If they lose, the fee is nothing. The
fee falls on gains, not on volume, which is why it is in `other_fees` and the per-trade cells read
"None" — the same treatment as [PredictIt](https://predictionmarkets.tools/tools/predictit)'s 10% of profit.

**A maker rebate, by monthly volume.** The same filing sets up a Make Volume Fee Rebate Program:
at month end, a participant's trading fees are rebated at a marginal rate on their resting-order
volume — 0% on the first $50,000, 20% to $750,000, 40% to $3 million, 60% to $7.5 million and 80%
above. A filing of 14 August 2026 extended it for twelve months, subject to monthly review. At
ordinary retail volume the rebate is zero.

**Parlays are charged differently.** The parlay fee schedule (version 1.2, 24 September 2026)
charges the taker only, at a rate per dollar of the trade's cost:
`F(p) = 0.021 × (1 − p) / (0.25 + p) + 0.004`, with a minimum of $0.01 an order. ProphetX's own
example: 100 contracts at 65¢ cost $65, the rate at 65¢ is about 1.22% of cost, and the fee is
$0.79. At 50¢ the rate is 1.8% of cost, or 0.9¢ a contract. The help centre's "Understanding Fees" article (updated 19 August 2026) still shows an older
formula with different parameters charged per contract. Read the schedule linked from the
trading-fee page and compute the number yourself.

Deposits start at $10, by debit card, Apple Pay or Google Pay through PayNearMe, cash at retail,
EdgeBoost, Aeropay online banking, cryptocurrency through Zerohash, or wire; credit cards are not
accepted. Withdrawals go by Aeropay, debit card, paper check or wire, most within 24 hours and up
to five business days. Neither article names a fee of ProphetX's own.

## Markets & resolution

Sports only, as listed. The help centre names moneyline, spread and total markets on MLB, NHL,
NBA, NFL, college football, college basketball, UFC and tennis; winner, spread and total markets
on the English, French, Spanish, German and Italian top divisions, MLS, the Champions League and
the Europa League; and props and futures on PGA and DP World Tour golf, NASCAR and others. Live
trading is available on all of them. Parlays (multi-event contracts) are listed too, through the
order book and a request-for-quote system.

**ProphetX has self-certified more than it lists.** Its filings index includes US election
contracts certified on 2 September 2026 — House and Senate control, Senate, House, gubernatorial
and mayoral races — alongside oddities such as a contract on Kalshi's monthly event-contract
volume. Neither the help centre nor the home page shows anything but sports, and we could not
confirm that the election contracts are tradable. The card lists sports only.

**Resolution follows the contract's named source.** The MLB contract terms certified on 12 June
2026 name the applicable governing body as the primary source, with ESPN and the Associated Press
as secondary sources; a July amendment names the league site directly — MLB.com for baseball.
Settlement is due no later than one business day after the expiration date. Each contract
carries a position accountability level of 25,000 contracts per participant per strike.

Collateral is US dollars under rule 7.4, and positions are fully collateralised.

## Integrations

ProphetX publishes a developer documentation site with trading, read-only market-data, parlay,
ISV and direct-link APIs over REST and WebSocket, and FIX order entry. Access is by application —
the documentation says the team reviews a request and grants access if it is approved — while the
terms of use describe programmatic trading through the API as "available to all Users". Market
makers are offered zero-fee trading through a high-frequency API. There is no published Python or
TypeScript client.

Neither the terms nor the help centre say what tax documents a participant receives, so
`tax_reporting` reads `false` here rather than claiming a form no page promises.

## Limitations

- **Sports only in practice**, with self-certified election contracts that we could not confirm
  are listed.
- **No published state list** beyond Nevada, and an IP and location check whose scope is not
  stated.
- **Two parlay formulas in circulation.** The schedule linked from the fee page and the help
  centre's fee article give different parameters and different bases. Only the straight-trade
  rate is stated consistently.
- **One entity in every role.** Exchange, clearinghouse and settlement agent are the same company,
  designated in June 2026. A dispute about an outcome has nowhere to go but ProphetX.
- **API access is reviewed**, despite the terms describing it as available to everyone.
- **Promotions are part of the pitch** — "Trade $50, get $75" sits in the site's header — and their
  terms are a separate help-centre article from the fee schedule.
- **Nobody here has funded an account.** Everything above is read from ProphetX's own site, help
  centre, terms, rulebook and CFTC filings, and from the CFTC's registers, on 3 October 2026, and re-checked on 4 October.

## Alternatives

[Novig](https://predictionmarkets.tools/tools/novig) is the closest like-for-like: another sports-only designated exchange that
relaunched from a sweepstakes model in mid-2026, but 21+, closed in three states, and charging
takers a fee on the fill — on live and futures trades, never pre-game straights — rather than on
gains. [Kalshi](https://predictionmarkets.tools/tools/kalshi) lists
sports beside every other category with a fee on every fill. Anyone who wants a broker's app in
front of somebody else's exchange is looking for [Robinhood](https://predictionmarkets.tools/tools/robinhood-prediction-markets).

## FAQ

### Is ProphetX regulated by the CFTC?

Yes, twice over. ProphetX LLC is listed by the CFTC as a designated contract market from 11 June 2026 and as a registered derivatives clearing organization from 10 June 2026, so it both runs the order book and clears the trades. Every participant is a direct, self-clearing member; there is no broker in between.

### Which states can use ProphetX?

ProphetX says it operates nationwide and is currently not operating in Nevada. It publishes no other state list, and its help centre says access is restricted from certain locations and IP addresses as part of its compliance requirements. The minimum age is 18, or the age of majority where that is higher.

### How does the ProphetX fee work?

On a straight trade nothing is charged when the order fills. At settlement ProphetX takes 2% of your net gain in that market, so a losing position pays no fee. Parlays work differently — the taker pays a rate per dollar of cost that falls as the price rises, with a $0.01 minimum per order, and makers pay nothing.

### Is ProphetX the same as the old ProphetX sweepstakes app?

Same brand, different legal product. The sweepstakes, run by Stake Trade, Inc. with Prophet Cash and Prophet Points, was the model before June 2026. The current terms of use, dated 10 June 2026, state that they replace all prior terms, and the product is now event contracts on ProphetX's own designated exchange.

### Is this the DTN ProphetX market-data terminal?

No. DTN ProphetX is an unrelated commodity and stock market-data product, and ProphetX's own help centre disclaims any connection to it.

## Background

- [How money gets back out](https://predictionmarkets.tools/guides/how-money-gets-out.md) — The rail that funded an account is usually not the rail that empties it. Same-source rules, clearing holds, jurisdiction locks, and what a bridge takes.
- [Insider-trading rules on event contracts](https://predictionmarkets.tools/guides/insider-trading-rules-on-event-contracts.md) — What the Commodity Exchange Act, CFTC Rule 180.1 and the Kalshi and Polymarket US rulebooks prohibit, and what the cases published in 2026 show.
- [Where the liquidity comes from, and who is on the other side](https://predictionmarkets.tools/guides/where-liquidity-comes-from.md) — Order book, automated market maker or pool — what each means for the price you get, and why the number on a thin market is not a probability.

## Also worth comparing

- [Coinbase Prediction Markets](https://predictionmarkets.tools/tools/coinbase-prediction-markets.md) — Kalshi's event contracts in the Coinbase app, via Coinbase's own FCM, in USD or USDC.
- [Crypto.com Prediction](https://predictionmarkets.tools/tools/crypto-com-prediction-markets.md) — Event contracts on a CFTC-designated exchange, traded from inside the Crypto.com app.
- [DraftKings Predictions](https://predictionmarkets.tools/tools/draftkings-predictions.md) — DraftKings' event-contract app, brokered by its own FCM onto DKeX, Crypto.com and CME.
- [FanDuel Predicts](https://predictionmarkets.tools/tools/fanduel-predicts.md) — FanDuel's event-contract app, via an FCM co-owned with CME Group, onto CME and Crypto.com.
- [ForecastEx](https://predictionmarkets.tools/tools/forecastex.md) — Economic and climate contracts on a CFTC exchange that pays interest on your collateral.
- [Gemini Predictions](https://predictionmarkets.tools/tools/gemini-predictions.md) — A crypto exchange's own CFTC-designated venue for event contracts, paid in dollars.