ProphetX Review

ProphetX, Formerly Prophet Exchange

So, what is ProphetX? In simple terms, it’s a popular sports exchange. 

Users trade against each other there, not against a house.

Who Owns ProphetX

ProphetX LLC, a Delaware company, holds the CFTC title and registration. Stake Trade, Inc., a privately held Delaware corporation, owns it. Dean Sisun (CEO) and Jake Benzaquen founded the business in 2018, and it’s based in New York.

ProphetX raised $35 million on July 28, 2026. Parlay Capital and Data Point Capital led that round, and FDJ Ventures was among the investors. Before that, an April 2023 round of more than $10 million brought in MIXI and Chicago Trading Company.

From New Jersey to Nationwide

The company was first licensed in the UK in 2018 as a peer-to-peer sports marketplace. Then, in August 2022, it launched Prophet Exchange in New Jersey. It was the state’s first regulated sports betting exchange. That’s the period people mean when they search Prophet Exchange NJ.

The Prophet betting exchange left New Jersey in 2024, and a sweepstakes model followed in September of that year. Finally, on June 18, 2026, the CFTC-regulated exchange went live nationwide.

Where ProphetX Is Legal

49 States and Washington, D.C.

When it comes to ProphetX legal states, the list is easy to remember. ProphetX is available in 49 states and Washington, D.C., and Nevada is the one exception. That means ProphetX is legal almost everywhere in the US. California is on the list too.

However, not every state has welcomed prediction markets. On September 10, 2026, Connecticut’s Department of Consumer Protection sent ProphetX a cease-and-desist order, along with 8 other platforms. The list of all ProphetX states can change after actions like this. So, check your eligibility in the app before you sign up.

An Exchange That Clears Its Own Trades

The Commodity Futures Trading Commission (CFTC) designated ProphetX LLC as a contract market by order dated June 11, 2026. A day earlier, on June 10, the regulator also registered it as a derivatives clearing organization. In other words, ProphetX lists and clears its own contracts. You trade with it directly instead of through a broker. On top of that, each contract is self-certified under CFTC Regulation 40.2.

In October 2026, ProphetX also agreed to a CFTC request to defer listing its “Scorigami” contracts. These would have paid out on final scores that have never happened before.

Minimum Age

The ProphetX age requirement is 18 or older, or the age of majority in your state if that’s higher.

You also need to be physically in an eligible state whenever you trade.

What You Can Trade on ProphetX

Leagues and Contract Types

ProphetX sports betting covers the NFL, college football, NBA, WNBA, MLB, and NHL. The lobby also lists golf and UFC. Soccer includes the Premier League, La Liga, Serie A, Bundesliga, Ligue 1, MLS, and the Champions League. College basketball, tennis, and boxing are also available. Our page on sports markets shows where else you can trade them.

As for contract types, you’ll find moneylines, spreads, totals, player and team props, futures, and parlays. The name may have changed, but Prophet X sports betting still works the same way.

Esports and Politics

Beyond traditional sports, the lobby also includes esports such as League of Legends and CS2. Plus, it offers political markets, including Governor, Senate, House, and Mayor winners. 

These sit alongside other election markets we cover. You can also browse prediction markets by category to compare venues.

How Much Trades on ProphetX

Each contract is a yes/no question with a $1.00 notional value. Prices run from $0.01 to $0.99 in one-cent steps, and every contract settles at either $1.00 or $0.

DeFi Rate compiles ProphetX’s public daily volume reports. Based on that data, the ProphetX prediction market handled about $866 million from June 16 to October 26, 2026. Monthly volume climbed from $131 million in July to $241 million in September. 

ProphetX’s 2% Fee and Settlement Rules

The Fee on a Winning Trade

ProphetX fees on straight trades come to 2% of your net gains in each market. If your position loses, on the other hand, you pay nothing. Here’s an example with 100 contracts bought at 50 cents, which is a $50 stake:

On top of that, ProphetX lists no deposit or withdrawal fees.

Parlay Pricing

Parlays, however, follow their own rules. Taker orders pay a fee from a separate parlay schedule. That fee changes with the price and the number of contracts. 

The minimum fee is $0.01, while resting maker orders pay no parlay fee.

Who Decides the Result

Sports contracts settle on the official result from the event’s governing body. If needed, ESPN and the Associated Press serve as backup sources. Political contracts, on the other hand, use Associated Press race calls. Decision Desk HQ steps in only if AP hasn’t called the race within seven days. Either way, settlement happens no later than one business day after a contract expires.

Each trader has a position accountability level of 25,000 contracts per strike. Since contracts are fully collateralized, you can’t trade more than you have on deposit. Keep in mind that every contract can lose the full amount you paid for it. So, set limits with responsible gambling tools before you start.

ProphetX Review: Our Take

Our ProphetX review comes down to 4 areas. First, the fee is 2% of net gains, with nothing charged on a loss. Second, settlement relies on official league results and happens within one business day. Third, one entity acts as both a CFTC contract market and a clearing house. Finally, DeFi Rate counts about $866 million in volume since mid-June 2026.

So, our answer to whether ProphetX is legit is yes. It’s a federally regulated sports exchange that clears its own trades. 

Funding a ProphetX Account

Deposits start at $10, but credit cards aren’t listed. Here are your deposit options:

• Debit card, Apple Pay, or Google Pay through PayNearMe, from $10
• Cash at retail stores through PayNearMe, from $10
• Online banking through Aeropay, from $10
• Crypto through Zero Hash, from $10
• EDGE Boost, from $100
• Wire transfer, from $1,000

When you’re ready for a ProphetX withdrawal, you can choose:

• Online banking through Aeropay
• Debit card, from $10 to $50,000, once you’ve deposited with that card
• Wire transfer, with a $5,000 minimum
• Paper check, which takes 7 to 14 days

ProphetX on iPhone and Android

The ProphetX app is on the App Store as “ProphetX Prediction Market,” published by ProphetX OpCo LLC. As of October 28, 2026, it’s rated 4.7 out of 5 from about 3,600 ratings.

Android users can download it from Google Play as well. If you’d rather skip the app, the full platform also runs in a browser at prophetx.co.

Responsible Trading

ProphetX provides build-in responsible trading tools at an account level. Traders can use deposit limits, get budget guidance, or self-exclude from trading for a short or longer period.