Prediction markets are legal in Florida through CFTC-regulated financial exchanges like Polymarket, Kalshi, and Crypto.com. To legally trade on these sites, you must be over 18 and fully verify your account with a photo ID and your SSN.
As regulated financial exchanges, prediction markets work differently from traditional online sportsbooks. Instead of placing fixed odds best against a bookmaker, you can trade event contracts on the outcomes of future events like sports games and political elections. The job of the prediction market platforms is to match equal counterparts for each trade.
The Best Prediction Market Sites in Florida in October
18+ Only. Restrictions and eligibility requirements apply. Not available in all jurisdictions. Trading involves high risk and may result in loss of your entire investment. See polymarket.us/tos for more information. The Polymarket US App serves as an independent software provider and affiliate of Polymarket US and Polymarket Clearing, the CFTC-regulated derivatives exchange and clearing organization.
Trading involves risk, including total loss on positions. Trading decisions and their consequences are your sole responsibility. Nothing on underdogexchange.com constitutes a recommendation, solicitation, or offer to buy or sell any financial instrument. UDX is subject to CFTC regulatory oversight. Promotion issued by affiliate.
Restrictions & requirements apply. Not available in all states. 21+. Event contract trading involves risk & is not appropriate for all. Consider if it’s appropriate for you in light of financial circumstances. See novig.com/terms for information.
While the legal landscape relating to prediction markets is moving quickly and is the subject of much debate, platforms offering them are still legal in Florida as it stands. If you are over 18, have a valid Social Security Number (SSN), and register using your photo ID and proof of address, you can legally trade event contracts in Florida.
To do so, you must use financial exchanges that offer prediction markets and are regulated by the Commodity Futures Trading Commission (CFTC). Despite being legal, prediction market trading is very risky and involves a high chance of losing money.
Pros and Cons
Legal in FL
Use sites like Polymarket, Crypto.com, and Kalshi
Wide range of predictions including sports and culture
18+ Only. Restrictions and eligibility requirements apply. Not available in all jurisdictions. Trading involves high risk and may result in loss of your entire investment. See polymarket.us/tos for more information. The Polymarket US App serves as an independent software provider and affiliate of Polymarket US and Polymarket Clearing, the CFTC-regulated derivatives exchange and clearing organization.
Trading involves risk, including total loss on positions. Trading decisions and their consequences are your sole responsibility. Nothing on underdogexchange.com constitutes a recommendation, solicitation, or offer to buy or sell any financial instrument. UDX is subject to CFTC regulatory oversight. Promotion issued by affiliate.
Restrictions & requirements apply. Not available in all states. 21+. Event contract trading involves risk & is not appropriate for all. Consider if it’s appropriate for you in light of financial circumstances. See novig.com/terms for information.
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How Prediction Markets in Florida Work
Prediction markets are platforms where you can buy and sell event contracts on the likelihood of future outcomes. These event contracts are priced between $0.01 and $0.99 to reflect the real-time market probability of the outcome in question.
For example, if the New York Knicks have a 50% chance of winning their next game, the event contract would cost $0.50. Once a prediction market is resolved. The value of the event contracts that correlate to the correct prediction goes to $1.00, with the opposite number closing at $0.00. The position that you hold determines whether you win or lose money.
As the purpose of these platforms is to match traders, your trade needs an equal counterpart to execute. For this reason, prediction markets charge trading fees instead of juicing the probabilities to add a commission.
Example of a Polymarket Event Contract
To show you how the event contracts look, here’s an NHL game example that we’ve pulled from Polymarket, one of the best
sports prediction market apps
in Florida:
🏒 Teams
📈 Chance
✅ Yes
❌ No
Hurricanes:
52%
$0.52
$0.48
Golden Knights:
48%
$0.48
$0.52
The Top 3 Prediction Market Apps in Florida
Now, let’s take a look at the
best prediction market apps
that you can use in Florida. All of these apps and websites are CFTC-regulated, have an 18+ age limit, and require full KYC with photo ID and your SSN number before you can actively trade.
📈 Prediction market
🧑⚖ Legal in FL
🔞 Age limit
🏆 Best for
Polymarket
Yes ✅
18+
Overall prediction market trading
Kalshi
Yes ✅
18+
Diverse market selection
Crypto.com
Yes ✅
18+
Low trading fees
Polymarket -The Best Overall Prediction Market in FL
Excellent trading coverage
Powerful mobile app
Speedy deposits and withdrawals
Peer-to-peer exchange
Watertight security provisions
Steep learning curve
Visit Polymarket
Polymarket is our number one choice for prediction market traders in Florida, thanks to its diverse market selection, user-friendly interface, and tracking tools. You can transparently see the trades that are happening for each market in real-time via the tracker at the bottom of the screen.
When it comes to purchasing your event contracts, you can buy in dollars or in individual shares. Additionally, there’s the option to place a limit order with a maximum share price that you’re willing to go to. This helps to protect you from paying too much if the execution price slips drastically from the expected price.
The signup process at Polymarket initially is very quick, requiring your email address and US phone number. However, before you can start trading, you’ll need to complete KYC by uploading a valid photo ID. You may also be asked for additional documentation, such as proof of address and proof of funds.
Kalshi – The Most Diverse Market Selections
Accessible across the US
Simple to use
Explore niche and mainstream markets
Integrated prediction tools
Limited ongoing bonus offers
Visit Kalshi
Kalshi was the original prediction market app in the U, S and it remains one of the most-used to this day. You can trade on the desktop website or the official app, which is highly rated and available to download from the App Store and Google Play. Here, you’ll find a very diverse selection of prediction markets, covering everything from the Stanley Cup winner to what the highest temperature will be in Miami today.
The limit order function on this site is more detailed than others, allowing you to select specific time deadlines as well as a maximum price limit. On the flipside, the fee structure is quite hard to follow, as it uses a complex formula based on expected profits.
To complete KYC and AML requirements here, you’ll first need to upload your photo ID. After that, you must provide the final four digits of your SSN and your US bank account details.
Crypto.com – The Lowest Trading Fees in Florida
Level-Up Rewards available
Welcome offer for standard trading
Predict future prices for crypto
Choose yes/no contract positions
Complex for newcomers
Visit Crypto.com
The Crypto.com prediction markets platform is a bit more basic than those described above. The market selection is smaller, and there is less real-time market tracking data and fewer tools. However, if you are a casual or beginner trader who’s looking for a simple, user-friendly experience, this platform may offer what you’re looking for.
The fees are low, and the structure is extremely simple to follow. There’s a $0.02 fee per contract, which is waived if you hold your position until the prediction market is resolved. Basically, if you don’t sell, you don’t pay fees.
To get verified here, photo ID, proof of address, and a selfie are all mandatory. Additionally, you must provide US bank details and your SSN alongside all of your personal information, like date of birth, full address, name, and nationality.
Sponsored by Crypto.com – Not investment advice. Trading prediction markets and crypto involves risk, including potential loss of your stake. Consider your risk tolerance before participating. Crypto.com connects U.S. users to CDNA (regulated by CFTC) for derivatives trading. CDNA membership required. Trading may not be suitable for all—you could lose your entire investment plus fees. Past performance doesn’t guarantee future results. This is not a solicitation or recommendation to trade.
Summary – Prediction Markets Are Legal in Florida
To recap, prediction market apps and websites are currently legal in Florida. You can only use exchanges like Polymarket, Kalshi, and Crypto.com, which are fully CFTC-regulated.
To legally sign up and trade, you must be over 18, physically located in Florida, and a legal resident. To provide this, you’ll need to upload your valid photo ID, possibly alongside a selfie and a proof of address document.
On top of this, you need to complete fiscal verification. On most sites, this required the final four digits of your SSN and proof that you own a US bank account.
You can register at any of the three prediction market exchanges that we’ve recommended via the banners on this page. Just be aware that prediction market trading is risky, and that the legal landscape in FL is subject to change.
18+ Only. Restrictions and eligibility requirements apply. Not available in all jurisdictions. Trading involves high risk and may result in loss of your entire investment. See polymarket.us/tos for more information. The Polymarket US App serves as an independent software provider and affiliate of Polymarket US and Polymarket Clearing, the CFTC-regulated derivatives exchange and clearing organization.
Trading involves risk, including total loss on positions. Trading decisions and their consequences are your sole responsibility. Nothing on underdogexchange.com constitutes a recommendation, solicitation, or offer to buy or sell any financial instrument. UDX is subject to CFTC regulatory oversight. Promotion issued by affiliate.
Restrictions & requirements apply. Not available in all states. 21+. Event contract trading involves risk & is not appropriate for all. Consider if it’s appropriate for you in light of financial circumstances. See novig.com/terms for information.
Check offer on site!
Claim Bonus
Are Prediction Markets Legal in Florida? FAQ
Yes, you can legally use prediction market sites in Florida, as long as they are regulated by the Commodity Futures Trading Commission (CFTC). While this is true for now, it’s a complex legal landscape that’s subject to change.
All CFTC-regulated financial exchanges that offer prediction markets are currently legal in Florida. This includes popular platforms like Kalshi, Crypto.com, and Polymarket.
It is possible that Florida could move to ban prediction markets. However, as they fall under federal regulations, the banning orders will be legally challenged, as they have been in other states.
