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Kalshi and PredictIt rank among the most popular prediction market platforms in the United States. They have caught the interest of many Americans, most of whom have only recently learned about prediction markets. Consequently, many people across the country are curious to try these platforms. However, they are restricted in certain states.
So, where can you use Kalshi and PredictIt?
Where can you use Kalshi?
Kalshi is regulated by the Commodity Futures Trading Commission (CFTC) and is licensed as a Designated Contract Market (DCM). This makes it legal at the federal level, allowing it to operate across all states.
While Kalshi is regulated federally, it still faces challenges at the state level. The platform is currently facing pushback from several jurisdictions and is explicitly banned in at least four states:
- Illinois
- Nevada
- New Jersey
- Ohio
Additionally, Kalshi has received cease-and-desist orders from Arizona, Connecticut, Maryland, and Montana. The company is also battling active lawsuits in three other states: Massachusetts, New York, and Wisconsin.
Massachusetts and New York have accused Kalshi of promoting illegal, unlicensed sports betting, while the Wisconsin lawsuit was filed by tribal gaming interests. The platform’s sports markets remain controversial in many other states, raising the possibility of further litigation.
Despite these regulatory issues, Kalshi remains available in most of these states, though specific markets may be restricted. For example, users in New York can access the platform but are barred from sports-based markets. Given the volatile legal status of the platform in over a dozen states, the most reliable way to determine availability is to attempt to access the site from your specific location.
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Where can you use PredictIt?
While Kalshi faces a patchwork of state-level restrictions, PredictIt is currently available to residents in all 50 US states. Like Kalshi, PredictIt is regulated by the CFTC. However, its legal challenges have historically unfolded at the federal level rather than with individual state gaming commissions. Because of its unique structure as an academic research tool, PredictIt has largely avoided the “illegal gambling” designations that have hindered Kalshi in states like Nevada and New Jersey.
PredictIt recently secured its long-term future in the US market. After a multi-year legal battle with the CFTC — which included a 2022 attempt by the agency to shut the platform down — a federal court ruled in PredictIt’s favor on July 22, 2025. This landmark victory allowed the platform to reorganize as the Prediction Market Research Consortium (PMRC).
Today, PredictIt holds full federal approval to operate as a:
- Designated Contract Market (DCM)
- Derivatives Clearing Organization (DCO)
Despite this nationwide availability, PredictIt maintains its “academic” safeguards to remain in compliance, including a $850 investment limit per contract and a cap of 5,000 traders per market.
At-a-glance: Availability comparison
| Feature | Kalshi | PredictIt |
| US Availability | Restricted in ~11 states | Available in all 50 states |
| Primary Regulator | CFTC | CFTC |
| Legal Hurdle | State gambling laws | Federal registration status |
| Investment Limits | High/No limit on most contracts | Capped at $850 per contract |
What’s next for US prediction markets?
The future of prediction markets in the US appears bright despite recent legal hurdles. Regulatory and federal oversight is becoming clearer, and state-level barriers are beginning to erode. Furthermore, significant investments from prominent organizations and individuals signal growing confidence in the industry’s longevity.
