Is FanDuel legal in New York in relation to prediction markets? FanDuel Predicts is available to users aged 18+ in the Empire State, but you are limited to financial, cryptocurrency, and economic prediction market trading.
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NY is one of the 32 states where FanDuel’s sports predictions are completely unavailable, with access restricted on the app. However, after signing up, completing KYC, and the suitability check, you can buy and sell event contracts for future outcomes related to crypto, finance, and the economy. In this guide, we’ll cover all of the essential details for you.
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US
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As a prediction markets and derivatives exchange that’s federally regulated by the Commodity Futures Trading Commission (CFTC),
FanDuel Predicts
is available in 45 states, including New York. However, sports prediction markets are unavailable to you in the Empire State.
Still, you can buy and sell event contracts for a variety of future outcomes, including economy, finance, and
crypto prediction markets. You must be over 18 and physically located in New York to create an account.
📈 Prediction Market:
FanDuel Predicts
🔐 Regulation:
CFCT (Federal)
🇺🇸 Available in the US:
Yes ✅
🗽 Available in New York:
Yes ✅
🔞 Age limit:
18+
Pros and Cons
FanDuel Pros and Cons
Available in New York
CFTC-regulated
User-friendly prediction market
Sports prediction markets are unavailable in NY
Eligibility Requirements for FanDuel Predict in NY
In order to create a FanDuel Predicts account in New York State, you must meet the following criteria:
18+ age limit
Legal US citizen or permanent resident
Physically located in New York or another available state (excluding tribal lands)
Any VPNs must be turned off with geolocation enabled on your device
🔒 ID Verification and KYC Checks
To complete the ID verification and KYC checks on the app, you must provide the following:
👥 Personal information: Full legal name, address, and date of birth
✅ Social Security Number: Your full SSN or the final four digits of your tax number
🆔 Photo ID documents: A valid US passport, driver’s licence, or US state/national ID card.
💰 FanDuel Financial Suitability Check
Before you can trade on FanDuel Predicts, you must complete a short questionnaire to assess your financial suitability. In completing the questionnaire, you must declare:
Your current employment status
Your annual income, including salary and other earnings
Your estimated net worth
Details of your previous trading and investment experience
How FanDuel Predicts Works
Once you have completed the stringent KYC and eligibility processes, you can deposit funds into your FanDuel Predicts account. From there, you can use the P2P prediction market app to buy and sell Yes/No event contracts that are tied to future outcomes related to crypto, the economy, and finance.
The contracts cost between 1c and 99c, with the value tethered to the probability of the prediction coming true. If you buy and hold event contracts for an outcome that ends up being correct, you’ll receive $1.00 per contract.
On the other hand, if you hold contracts tied to an incorrect outcome, their value will close at $0.00, and you’ll lose your money. Hence why prediction markets are considered high risk.
Understanding FanDuel Predicts
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FanDuel Predicts New York – Summary and Conclusion.
FanDuel Predicts is available in New York, but with the notable restriction that sports prediction markets are excluded. If you are over 18 and physically located in NY, you can trade event contracts for crypto, finance, and economic prediction markets.
As we explained in this guide, you must complete the KYC process and eligibility questionnaire before your account will be verified for real money trading. On that note, we also strongly advise that you consider the risks of prediction market trading and whether it’s right for you.
Is FanDuel Legal in New York? FAQ
As a CFTC-regulated prediction markets exchange, FanDuel Predicts is available to adults aged 18+ in New York. However, sports prediction markets are unavailable to users located in the Empire State.
FanDuel Predicts is available to some extent in all 50 states, as it’s federally regulated by the CFTC. However, sports prediction markets are excluded in 32 states, including New York.
To use FanDuel Predicts in New York, you must be over 18, a US citizen, and be physically located in the state. Additionally, you must complete KYC and a financial suitability check before you will be allowed to deposit and buy event contracts.
Understanding FanDuel Predicts
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