Is FanDuel Legal in Texas?

Rather than answering the question “is FanDuel legal in Texas?”, we’ll instead look at the availability of FanDuel Predics. This is a standalone prediction market exchange app that’s regulated by the Commodity Futures Trading Commission (CFTC).

The CFTC is a national regulator for derivatives exchanges, meaning that FanDuel Predics is available to users aged 18+ in 45 states, including Texas. However, sports prediction markets are only offered in 18 states, with Texas being one of them. In this guide, we’ll explain the full signup and KYC process that you need to start trading in TX.

Is FanDuel Predicts Available in Texas?

FanDuel Predicts is a peer-to-peer prediction market and derivatives exchange that’s regulated by the CFTC, which is a federal authority. As a result, it’s available to US citizens and residents aged 18+ across the US, including Texas.

Not only is the app available in Texas, but the Lone Star State is also one of just 18 states with full access to all FanDuel prediction markets, including sports. In the remaining 32 states, sports prediction markets and event contracts are excluded.

FanDuel Predicts guide

Predict diverse markets on the go

About FanDuel Predicts

FanDuel Predicts is a standalone app that offers peer-to-peer trading on sports and other events, including culture prediction markets. On the app, you can buy and sell Yes/NO event contracts that are tied to the possible outcomes of a future event.

These event contracts cost between $0.01 and $0.99 based on the market probability of the tethered outcome. For example, if the Spurs had a 45% chance of winning the NBA Championship ahead of the final series, Spurs: Yes contracts would each cost you $0.50.

How FanDuel Event Contracts Payout

If you hold your contracts until the market resolves and your prediction is correct, the event contracts pay out at $1.00 each. However, if you lose, the value of each contract closes at $0.00, meaning that you lose your entire outlay.

FanDuel PredictsTX – The Pros and Cons

Now that we’ve learned about this app’s availability in Texas and how it works, here’s our expert summary of the pros and cons:

Pros and Cons

• CFCT-regulated financial P2P exchange
• Available in Texas
• Sports prediction markets accessible in TX
• 18+ age limit

• High risk of losing money

How to Sign Up to FanDuel Predicts in Texas?

You must be over 18, physically located in Texas, and have your VPN switched off to sign up to FanDuel Predicts. Moreover, there’s a KYC and suitability check that you’ll need to complete as part of the sign-up process.

We’ve included all of this in our step-by-step guide below:

1. Download – Install the FanDuel Predicts app (this is a standalone product that’s separate from any other FanDuel apps you may have)

2. Sign up – Enter your email address, then create a username and password

3. Information – Full name, date of birth, and residential address (must match your photo ID)

4. KYC – The final four digits of your SSN and a valid photo ID

5. Suitability – Answer questions to detail your employment, income, net worth, and trading experience

6. Review – Once the steps above are complete, FanDuel will review and approve or reject your account

FanDuel Predicts Texas – Summary and Conclusion

In summary, FanDuel Predicts is available to Texans who are aged 18+ and meet the necessary KYC and financial suitability requirements that we outlined above. Moreover, Texas is one of just 45 states with full access to the app, including sports prediction market trading.

Before you download the app and register, take the time to consider the risks involved with buying and selling event contracts for future events. More importantly, you should never trade with an amount of money that is more than you can comfortably afford to lose.

Is FanDuel Legal in Texas? FAQ

• 🌟 Can you use FanDuel Predicts in Texas?
  Yes, you can use FanDuel Predicts to trade event contracts for sports and other prediction markets in Texas if you are over 18. It’s available because it is a P2P financial exchange that’s regulated by the CFTC, which is a national authority.
• 🗺️ In what states is FanDuel Predicts available?
  FanDuel Predicts is available to some extent in 45 states, but sports prediction markets are only offered in 18 states.
• 📝 How do you sign up for FanDuel Predicts in TX?
  To register at FanDuel Predicts in Texas, you must enter your personal information and upload a matching ID document with your SSN to complete KYC. Additionally, you have to answer a financial suitability questionnaire with details of your employment, income, net worth, and trading experience.