The emergence of NY prediction markets has opened up new avenues for sports fans to take a monetary stake in sports outcomes. Brands like Kalshi, Polymarket, Novig and ProphetX are available to users in New York to trade on sports, and brands like DraftKings and FanDuel have prediction market products also available in NY, but sports trading is restricted because they also operate licensed sportsbooks in the state.
The landscape may shift, as the Empire State has initiated legal action to curb prediction market reach. The markets remain available for now. We'll cover the options for trading on contests like this week's NBA and college football games that are available to New Yorkers below.
Are prediction markets legal in New York?
As of this moment, yes, prediction market apps offer CFTC-regulated prediction markets in New York. New York State and the attorney general's office are currently embroiled in legal standoffs with both federal regulators and prediction market operators, including Kalshi, Novig and others. New York filed a lawsuit against Kalshi on July 31, alleging that Kalshi's sports markets amount to sports betting and that Kalshi is thus operating an illegal unlicensed gambling operation.
The Commodity Futures Trading Commission (CFTC), the federal regulatory body that oversees commodities trading and has claimed jurisdiction over prediction markets, claims that New York lacks standing to take action against a federally regulated operation like Kalshi. Sportsbooks are regulated at the state level, which is why New York feels that it has the authority to go after Kalshi if it believes that Kalshi's sports markets are actually sports betting.
Mobile sports betting is legal in New York and major sportsbooks are licensed to operate in the state. There is a distinct separation between sports betting and prediction market operations which is why operators with both sportsbook and prediction products do not offer sports trading in states where they offer their regulated sportsbook.
This is the case in NY for DraftKings Predictions and FanDuel Predicts, while Fanatics doesn't offer any prediction markets in NY or any other states where they have a live sportsbook. On the other hand, prediction market-only operators like Kalshi, Polymarket, ProphetX and Novig offer sports contracts in most states they operate, including NY.
NY Prediction Market Operators & Promo Codes
Our picks for some of the best prediction market promos can unlock more than $175 in bonus trading credits across several operators in New York.
NY Prediction Markets | Min Age | NY Sports Trading | Prediction Market Promos | NY Promo Codes |
Kalshi | 18+ | Yes | Trade $25 Get $55 in Trading Credits | |
Polymarket US | 18+ | Yes | Deposit $10, get $25, trading bonus | |
ProphetX | 18+ | Yes | Trade $40+, Get $40 in Bonus Credit | |
Novig | 21+ | Yes | Deposit $10+, Get $50 in Trade Credits |
Recent legal updates
Oct. 27, 2025: Kalshi filed for an injunction to prevent the New York State Gaming Commission from enforcing New York's gambling laws against Kalshi.
April 21, 2026: New York Attorney General Letitia James sued Gemini Titan and Coinbase in separate filings which sought permanent injunctions against the companies' prediction markets, claiming they were unlicensed gambling operations. The State of New York said it was seeking full restitution of what it said were illegally obtained gains from those markets and further civil penalties.
April 24, 2026: In response to the lawsuits against Gemini Titan and Coinbase, the CFTC sued New York to seek a permanent injunction to prevent the state from enforcing its gambling laws against platforms registered with the CFTC.
July 7, 2026: Kalshi's preliminary injunction was denied, with the ruling judge finding that New York's gambling laws apply to Kalshi's sports markets. Kalshi appealed the ruling to the Second Circuit of the U.S. Court of Appeals.
July 15, 2026: Kalshi filed a motion for an immediate injunction pending the Second Circuit's ruling. The New York A.G.'s office agreed to not bring action against Kalshi until July 30.
July 27, 2026: Kalshi's appeal was denied by the Second Circuit.
July 30, 2026: The CFTC filed for a temporary restraining order to prevent New York from enforcing its gambling laws against Kalshi on the basis of preemption. The federal court denied the motion with extreme prejudice the next day.
July 31, 2026: A.G. James sued Kalshi, claiming Kalshi was operating an illegal gambling operation in New York. The state's suit seeks an injunction on Kalshi offering event contracts in New York. New York State is seeking restitution of what it says are illegal gains. Combined with punitive damages, the total monetary cost to Kalshi could exceed $30 billion. Kalshi subsequently filed to have the proceedings moved to federal court.
August 12, 2026: The CFTC ordered Kalshi to continue operations in New York despite the state's lawsuit. The same day, the New York City Council opened an investigation into the advertising practices of four prediction market operators, including Kalshi and Polymarket.
What Comes Next
- NY Second Circuit Appeals: The Court of Appeals will hear oral arguments in late Fall 2026, with a decision expected in late 2026 or early 2027.
- Novig Federal Injunction: The Southern District of New York is expected to issue a ruling in the near term.
- U.S. Supreme Court Review: Since the Third Circuit favored state power in New York and other states, the U.S. Supreme Court may take up the case eventually.
Top prediction market platforms NY
For those interested in trading event contracts on sports or other topics, here are our picks for the top prediction market platforms in New York.
Operator | Sports Betting | Prediction Markets | Sports Trading | Available in NY | Promos Available in NY | Promo Code |
Polymarket US | No | Yes | Yes (besides NV) | Sports Trading | Deposit $10, Get $25 in Trading Credits | |
Kalshi | No | Yes | Yes (besides NV, MI, WA) | Sports Trading | Trade $25 Get $55 in Trading Credits | |
ProphetX | No | Yes | Yes | Sports Trading | Trade $40+, Get $40 in Bonus Credit | |
DraftKings | Yes | Yes | Yes (varies by state) | Sportsbook & Non Sports Trading | Spend $5+, Get $150 in Total Bonuses | |
FanDuel | Yes | Yes | Yes (varies by state) | Sportsbook & Non Sports Trading | Bet $5 Get Up to $250 in Bonus Bets | |
Fanatics | Yes | Yes (varies by state) | Yes | Sportsbook only | Bet $20 Get Up to $350 in FanCash | |
Novig | No | Yes | Yes | Sports Trading | Deposit $10+ Get $50 in Trade Credits |
Kalshi promo code
The latest Kalshi promo code CBSSPORTS55 unlocks $55 in bonus trading credits after new users trade $25+. Here are the details for one of the best prediction market apps in New York.
Kalshi Promo Code | |
Welcome Offer | Trade $25, Get $55 in Bonus Credits |
How to Claim Bonus | Register with code CBSSPORTS55, verify ID, deposit min $10, and trade $25+ within 30 days |
Available States* | Available nationwide for new users to sign-up AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY. |
| Promo Eligibility | New users physically located in a state where Kalshi prediction markets operate who complete the sign-up and identity verification process |
Age Requirement | 18+ |
Last Verified | November 13, 2026 |
*Sports contracts currently unavailable in MI, NV and WA
Must be 18 or older and a legal resident of a state where Kalshi operates. New users will be awarded $55 in bonus trading credits after making a trade of $25 or more within 30 days of opening a brand new Kalshi account. The bonus credits cannot be withdrawn as cash and the full $55 credit must be used in full to place trades before any trading profit can be withdrawn. The bonus credits expire after seven days if they go unused.
Kalshi is one of the biggest names in the prediction market space. The operator offers markets for sports, entertainment, current events, weather and more. The user interface displays a probability of an outcome along with share prices for "Yes" and "No," with each outcome priced in cents. Correct predictions pay out $1 per contract.
To claim Kalshi's promo code, you must be 18+, have a legal U.S. residential address in a state where Kalshi operates, complete the KYC process, and have an account in good standing. Additionally, the code CBSSPORTS55 must be applied within three days of registration and before the initial $10 deposit is made.
New participants must trade at least $25 on Kalshi Prediction Markets within seven days of opening a new account to receive the $55 in bonus trading credits guaranteed with the promo code. Qualifying trades must be priced between $0.03 and $0.97 per contract. Users in NV, MI, and WA do not have access to sports markets.
The $55 bonus trading credits must be used for trades on Kalshi event contracts. Bonus trading credits cannot be withdrawn or transferred. Participants can withdraw only profits from trades on Kalshi prediction markets. Said profits from trading the $55 in bonus trading credits may be withdrawn after trading an amount equal to the bonus amount. Any bonus trading credits must be used within seven days of being granted. Bonus trading credits not used within those seven days will expire and be forfeited. For more information, visit kalshi.com/tc/55.
Polymarket promo code
The Polymarket promo code CBSSPORTS offers $25 in bonus trading credits to new users after depositing $10 or more. Here's how it works.
Polymarket Promo Code | |
Welcome Offer | Deposit $10, get a $25 trading bonus |
How to Claim Bonus | Make a first-time qualifying deposit of $10+ after sign-up |
Eligible States* | Available in 49 U.S. states, D.C. and US territories (Unavailable in NV) |
Age Requirement | 18+ |
Key Terms | Account balance is used to cover trades prior to trading credits; unused credits are removed from account after 30 days and only net profits from trades are withdrawable |
Last Verified | November 13, 2026 |
*Sports markets are unavailable in MI
You must be 18+ in a state where Polymarket US is authorized to operate and be a totally new Polymarket US user. Existing users are not eligible for the offer. Requires a minimum deposit of $10. The $25 bonus credits are not withdrawable as cash and can only be used on Polymarket US. Some markets are not available in certain states and markets available on the global Polymarket desktop site may not be available on the Polymarket US mobile app. Full terms and conditions available at polymarket.us.
Polymarket US is available only via mobile app. Like Kalshi, Polymarket US offers markets on a variety of subjects, including sports. Its share pricing is shown as percentages by default and that percentage will correspond with a share price. For instance, if the Yankees have a 64% chance of winning a game, "Yes" on the game outcome market will be shown as 64% and that event contract will cost 64 cents. Users can go into the app's settings and change the market price display to their preference.
ProphetX promo code
The ProphetX promo code allows new users to get $40 in Incentive Funds after trading $40+. Here are all of the details on how to claim this offer.
Promo Code | |
Welcome Bonus | Trade $40+, get $40 in Incentive Funds |
Available States | Available in 49 U.S. states & D.C. (not available in NV) |
Minimum Age | 18+ in most states |
Eligibility | New users physically located in an active state with an approved account in good standing |
Qualifying Action | Execute trades totaling $40 or more in cumulative collateral value within 30 days of account approval. Only trades that open a position count toward the requirement, and there are no price limitations. |
Bonus Payout Structure | Bonus credits are awarded in three installments ($10 on Day 1, $10 on Day 8, and $20 on Day 15) |
Last Updated | November 13, 2026 |
This offer is exclusive to new users who are 18+ and physically located in active states (excludes NV). The account must be verified and in good standing.
After registering for a new account, place your first-time trades totaling $40+ within 30 days of account approval. Qualifying trades must open new positions and be executed at a price of $0.80 or below.
This will trigger $40 in total bonus, issued in three installments on Day 1, Day 8, and Day 15; however, you must fully utilize (trade-through) each installment to unlock the next installment. Failure to do so forfeits remaining bonus funds.
All bonus installments expire 45 days after issuance if not used. Incentive Funds are non-withdrawable and must be used as collateral for new positions. Only net profits from successfully settled trades are withdrawable.
Novig promo code
| Novig promo code | |
Novig sign-up bonus | |
Novig legal states | Nationwide (excluding AZ, MI, OH & NV) |
Novig minimum age | Must be 21+, physically located in an eligible state* and otherwise eligible |
Novig available sports | Pro baseball, tennis, golf, pro basketball, UFC, pro football, college football, soccer |
Novig regulatory body | U.S. Commodity Futures Trading Commission (CFTC) |
Last verified | November 13, 2026 |
You must be 21+ and physically located in a state where Novig operates to claim the Novig promo code.
New users must deposit $10 or more to qualify for the offer and receive $50 in trading credits. Bonus trading credits cannot be withdrawn as cash and must be used to make trades on Novig. The credits are disbursed as five $10 trading credits, which can be applied after selecting a trade. The $5 credits must be applied in full and cannot be split, combined with other promotions, partially used or used on Make Orders. The credits can only be used on straight trades. Credits expire 30 days after being issued. Trades made using bonus credits pay out both profit and the initial stake as withdrawable cash.
Novig is a sports-only prediction market, meaning users cannot make trades on entertainment or current events on the platform. While it is a relatively smaller brand, it recently partnered with the New York Mets to become the team's official prediction market sponsor. Like on Polymarket, share prices are displayed in percentages.
Featured market: Knicks vs. Pacers on Kalshi
The New York Knicks will look to push themselves to a 7-5 record when they visit the Indiana Pacers on Friday night. Here are the latest prices for the contest at Kalshi.
- NY Knicks: Yes (76%)
- IND Pacers: Yes (25%)
Content is promotional and not a recommendation to trade. Contract pricing fluctuates and is subject to change.
Trading on New York sports teams
It is no surprise that a state like New York has a plethora of sports teams to root for. Below are the prices for New York's teams to win their respective championships. Prices are provided by Kalshi and are current as of November 13, 2026.
New York Yankees (9.4¢)
Cam Schlittler is now the best player in the organization. He went 14-6 with a 1.95 ERA, 239 strikeouts, and a 7.0 WAR in his first full season. That's ace production from a pitcher the Yankees developed themselves. Ben Rice added 41 homers to become the lineup's other new star, and he kept going in October, hitting .421 with four homers. It still wasn't enough. New York won 93 games and beat Boston 2-0 in the Wild Card round, then was swept 3-0 by Tampa Bay. Aaron Judge only played 66 games, and his .871 OPS was a career low for a healthy stretch. That's the biggest worry for the next few years, that their star position player turns 35 next season, and their ace is 25. Nine playoff trips in ten years shows a well-run franchise that's always in the mix, but 17 years without a title shows its approach isn't working in October.
New York Mets (5.7¢)
The Mets season was effectively over by late April. The Mets lost 12 straight games, went 10-21 in April, and never recovered. After Andy Green replaced Carlos Mendoza as manager in June, the Mets went 40-41 the rest of the way. That might be good enough for an expected .500 team, not the contender their payroll was built for. The final 74-88 record was the club's first last-place finish in a full season since 2003. That came after an offseason that added Bo Bichette, Devin Williams, Jorge Polanco, Luis Robert Jr. and Freddy Peralta. On the bright side, Juan Soto was as good as advertised. The best news of the season came from the farm system. Rookies Carson Benge and AJ Ewing, and young starter Nolan McLean, give the Mets a young core that costs very little.
New York Knicks (7¢)
Jalen Brunson led New York to a Game 5 victory to finish off San Antonio, and the Knicks won their first title since 1973. Mike Brown's team has started slower in defense of the title, but it's gaining speed. Brunson and Karl-Anthony Towns are carrying the offense in the early goings, picking up where they left off last season. The rotation is thinner after Mitchell Robinson left for Boston and Andre Drummond took his place. That shouldn't matter much in November, but against Boston's or Philadelphia's front lines in May, the lack of a Robinson-type rebounder could show.
Brooklyn Nets (1¢)
Unlike most bad teams, the Nets are adding veterans while they wait for their young players to develop. They traded for Julius Randle, added Keon Ellis and kept Michael Porter Jr. All of that supports their young guards, Egor Dёmin, Nolan Traoré, and Mikel Brown Jr. It's no surprise that a team stacked with point guards and score-first forwards has a clear weakness. Defense. The Nets look headed for another top-five pick, and maybe that's been the plan all along.
New York Giants (2¢)
The Giants' season seemed over when Jaxson Dart was scheduled for knee surgery following Week 1. Instead, they have a winning record and lead the NFC East. John Harbaugh is doing it the way he did for years with Baltimore, by winning close games. The Giants are 5-2-1 with a minuscule +10 point differential, so they may be headed soon for some regression to the mean. After a 4-13 season and only two playoff trips in a decade, Harbaugh has the Giants in first place with their backup quarterback.
New York Jets (1¢)
The Jets are currently on pace for a second straight season with a top-five pick and 16 straight years without the playoffs. Geno Smith has been a fine stopgap for this season, but he isn't the long-term answer. Aaron Glen isn't leading the market for Next NFL Coach Out, but his stock is rising.
Buffalo Bills (15¢)
After their 12-5 season ended with an overtime playoff loss to Denver, Buffalo fired coach Sean McDermott and promoted offensive coordinator Joe Brady. The kind of move teams make when they believe the problem is January, not the regular season. Behind Josh Allen's continued leadership, the Bills are the premier team in the AFC. The front office finally got him a No. 1 receiver by trading for DJ Moore. With just one loss halfway through the season, the Bills sit atop the NFL, but we have seen this all before. Ultimately, Allen's greatness and Brady's first season at the helm will be judged on what happens in January.
New York Islanders (1¢)
Last year, Matthew Schaefer scored 23 goals and 59 points as an 18-year-old rookie to win the Calder Trophy. The rest of the organization is still catching up, though. With four games left in the season last year, Patrick Roy was fired when the Islanders were sitting one point out of a wild-card spot. That bold move failed to make the difference, as they went on to lose their final three games and miss the playoffs anyway. Bo Horvat, appointed captain this season, leads a team stuck in the middle. They're not rebuilding, but they're not in serious contention either. The Islanders' best player is 19, and the timeline should be built around him, not around another push for a wild-card spot.
New York Rangers (2¢)
Last season was a disaster, and the Rangers were eliminated from playoff contention in March. The defense is once again the strength of this team, led by Adam Fox and Marcus Pettersson, who was acquired from Vancouver for a future first-round pick. Igor Shesterkin appears to be back at the top of his game, and he's the main reason the Rangers can reach 95 points or more. The Rangers have two Conference Finals appearances in the past five seasons, and so far are looking more like that team than the one from last season.
Buffalo Sabres (2¢)
The Sabres are fresh off a 50-win season, a campaign that ended the NHL's longest playoff drought. Tage Thompson and captain Rasmus Dahlin were exactly the players the team spent a decade waiting for. After winning a contested Atlantic division, GM Jarmo Kekäläinen made some moves that may look surprising on paper. Trading away significant contributors, like Alex Tuch and Bowen Byram, for draft picks and prospects seems like a team looking to the future, not a team trying to win now. Those players weren't going to agree to long-term deals with the Sabres, so they had to make the moves. Lindy Ruff's team is well within reach of a playoff spot, but matching last year's performance is a high bar to reach.
New York-specific things to know
Are prediction markets legal in New York? As stated above, the legal battle over prediction market oversight in New York is being fought on multiple fronts. The situation continues to evolve and New Yorkers should not consider the availability of prediction markets in the state to be a settled matter.
For now, the state's prediction market operators continue to conduct business in the state. Additionally, both Kalshi and Polymarket are headquartered in New York City.
Things to keep in mind
Prediction markets operate on a peer-to-peer model where share prices and probabilities fluctuate based on market movements and trading volume. Users do not trade against "the house," but other users.
How to trade prediction markets in New York begins with understanding the concept of buying event contracts. If you buy 100 event contracts on a team to win a game at $0.45 per contract, and that team wins, they pay out $1 per contract, for a profit of $0.55 per event contract. If that team loses, you lose the entire $0.45 per contract.
FAQ
Are prediction markets legal in New York right now?
For now, prediction markets continue to operate in the state of New York and major sports teams like the Yankees and Mets have announced official prediction market partners. That being said, the state is locked in a legal battle over the legality of the brands' offerings and whether the state or federal government should have regulatory jurisdiction over the markets.
Which prediction market operators are active in New York?
Kalshi, Polymarket US, ProphetX,and Novig all offer sports markets to New Yorkers. DraftKings Predictions and FanDuel Predict are also available in the Empire State but do not offer sports markets to New Yorkers.
What bonuses are available for New York traders?
Kalshi, Polymarket US, ProphetX, DraftKings and Novig all offer New Yorkers sign-up promos. The sign-up bonuses listed below all offer bonus trading credits to new users. Each brand's offer differs.
Prediction Market Promotions in NY | Min Age | Current Promos Available in NY | NY Promo Codes |
Polymarket US | 18+ | Deposit $10 Get $25 in Trading Credits | |
Kalshi | 18+ | Trade $25 Get $55 in Trading Credits | |
ProphetX | 18+ | Trade $40+, Get $40 in Bonus Credit | |
Novig | 21+ | Deposit $10+ Get $50 in Trade Credits |
*19+ in AL & NE; 19+ in CO for some games; 21+ in AZ, MA, & VA)
What's the minimum age to trade prediction markets in New York?
Kalshi, Polymarket US and DraftKings Prediction all require new users to be 18+, while Novig has a 21+ requirement.
Does every platform face the same legal situation in New York?
Kalshi is currently the state's main opponent in court, but it stands to reason that any result that comes from the legal proceedings would then be used as precedent to dictate the state of play for other operators.
Trade Responsibly
Trading involves substantial risk of loss and is not suitable for everyone. Past performance is not indicative of future results. Participation in prediction markets is subject to applicable eligibility requirements. Availability may be restricted or prohibited in certain jurisdictions and participants are responsible for ensuring their participation complies with applicable laws and regulations in their jurisdiction. Prediction market content is not intended for individuals located in jurisdictions where they are prohibited. See the NCPG's Financial Trader Health and Safety Initiative for more information.
Prediction markets should be used for entertainment purposes, in a fun responsible manner. Concerned about your trading behavior? Call or text 1-800-MY-RESET.
