The question of whether or not FanDuel is legal in California is somewhat complex, but here’s going to focus specifically on FanDuel Predicts. This is the brand’s CFTC-regulated prediction market and derivatives exchange.
Top FanDuel Alternative for October
As the CFTC is a national-level regulator, FanDuel Predicts is available to California traders who are aged 18+. Using this standalone app, you can buy and sell event contracts for a range of future outcomes including sports, finance, economy, crypto, and more. In this guide, we’ll explain how to complete KYC and pass the financial suitability check.
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en
Accepts Customers from
US
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FanDuel Predicts is a prediction market exchange that’s regulated by the Commodity Futures Trading Commission (CFTC). It allows you to trade Yes/No event contracts on future outcomes such as sports games, financial events, and more.
Event contracts are priced between $0.01 and $0.99 based on the probability of the related outcome. In other words, if the Rams have a 50% chance of winning, then ‘Rams: Yes’ contracts would cost roughly $0.50 each.]
How the Payouts Work
If the Rams went on to win, the contracts would pay out at $1.00 each, giving you a profit of $0.50 had you bought and held these contracts. However, if they lost, the value of the contracts would close at $0.00, and you’d lose your money.
Pros and Cons of FanDuel Predicts CA
FanDuel Pros and Cons
Available in CA
Sports predictions available in CA
CFCT regulation
Risk of losing money
Is FanDuel Predicts Available in California?
As the CFTC is a federal regulator for the finance and trading world,
FanDuel Predicts
is available to US citizens and permanent residents aged 18+ in 45 states. Sports predictions are only available in 18 out of 50 states, with California being one of them.
Here’s a table with the key facts:
📱 Standalone app:
FanDuel Predicts
📈 Product:
Prediction markets
🧑⚖ Regulation:
CFTC
🐻 Available in California:
Yes ✅
🏈 Sports prediction markets in CA:
Yes ✅
🔞 Age limit:
18+
Requirements for FanDuel Predicts CA
Before you can deposit money and trade event contracts on this app, you’ll need to sign up, complete the KYC (Know Your Customer), and pass the Financial Suitability Check. This is something that’s required for all sports and
economy prediction markets
that are regulated by the CFTC.
Below we’ve provided you with some short notes explaining what’s required:
FanDuel Predicts CA KYC
The KYC process consists of an identity check and address verification, for which you must provide the following information:
Personal info: Full name, CA residential address, and date of birth (you must be over 18)
Social Security Number (SSN): The final four digits of your SSN
Photo ID document: A valid US passport, driver’s license, national ID card, or state ID card
Banking information: Your bank account details and proof of ownership
Financial Suitability Check
The Financial Suitability Check that you must pass comes in the form of a questionnaire in which you must disclose the following information:
Employment: Your current profession or the name of the primary business that you own and operate
Annual income: Your estimated total annual earnings (including salary from your main profession and other income streams)
Estimated net worth: Your total net worth including cash, assets, and investments
Trading experience: A brief account of your financial trading and investment experience
Sign up at FanDuel Predicts today!
Trade event contracts for sports markets in CA
FanDuel Predicts California – Summary and Conclusion
In summary, FanDuel Predicts is regulated at the national level as an exchange by the CFTC. As a result, it is available in all 50 states, including California.
While sports prediction markets are restricted in 32 states, California isn’t one of them. Therefore, you can trade event contracts for sports events as well as finance, economics, and crypto.
You must be over 18, a US citizen or permanent resident, and physically located in California to sign up and trade. Remember to pay attention to the KYC and suitability checks when creating your trading account on the app.
Is FanDuel Legal in California? FAQ
FanDuel Predicts is available in all 50 states, though sports prediction markets are excluded in 32 states. This is because FanDuel is a regulated prediction market exchange by the CFTC, which is a federal-level regulator.
Yes, you can use FanDuel Predictions to trade event contracts for sports and other prediction markets if you are in California. The age limit is 18+, and you must be physically located in the state.
FanDuel Predicts is available in CA because it is regulated by the CFTC, which is a national regulator, rather than a state-level authority.
Sign up at FanDuel Predicts today!
Trade event contracts for sports markets in CA
