People often ask us if PrizePicks is legal in Virginia, and today we’re going to answer that question with a specific focus on PrizePicks Predict. This is a CFTC-regulated prediction market contained within the main PrizePicks app.
Top PrizePicks Alternative for October
You’ll be pleased to hear that PrizePicks Predict is available to you in Virginia. Users in the state have access to sports (Team Picks) and non-sports (Culture Picks) prediction markets. However, it’s important to note that the age limit for VA users is 21+. This is above the standard 18+ limit that applies in most other available PrizePicks Predict states.
PrizePicks Predict is a financial prediction markets exchange that’s regulated by the Commodity Futures Trading Commission (CFTC). It offers eligible users in VA and other states the opportunity to buy and sell event contracts for future events.
There are categories of prediction markets on this app:
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Team Picks
– Sports prediction markets covering games and other events in football, basketball, soccer, and other popular sports.
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Culture Picks
– Non-sports events and
culture predictions, including entertainment, economic, and pop culture.
Event Contracts
The event contract cost ranges from $0.01 to $0.99, depending on the market probability of the outcome (e.g., 50% = $ 0.50). Once the event has happened and the market is resolved, event contracts are tied to a correct prediction pay out at $1.00 each, and all incorrect contracts finish at $0.00.
This means that you make a profit if your forecasts are correct and a loss if you get it wrong. It’s a straightforward concept, but it incurs a high risk of losing money.
Are PrizePicks Prediction Markets Available in Virginia?
As we explained above and in our
PrizePicks prediction markets review, PrizePicks is regulated as a financial exchange by the CFTC. This is a federal body, so it is available to users in 33 states.
While 18 have partial restrictions, you have access to all of the PrizePicks prediction markets in Virginia, including Team Picks and Culture Picks. The only difference is that the age limit is 21+ in VA, whereas it’s 18+ in 33 states.
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Product:
PrizePicks Predict
📈
Type of platform
Prediction market exchange
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Regulation:
CFTC
✅
Available in Virginia:
Yes
🔞
Age limit:
21+
Pros and Cons
PrizePicks: Pros and Cons
Available in VA
Sports and culture predictions
21+ age limit
Risk of losing money
How to Sign Up for PrizePicks Predict in PA
To buy and sell event contracts on this app in PA, you must create a new account and get fully verified as follows:
Visit:
Follow the banners on this page to the PrizePicks site
Download:
Download and install the official app
Start:
Open the registration form
Register:
Sign up with your email address, Google account, or Apple ID
Personal:
Enter your full legal name, residential address, and date of birth (must be over 21)
SSN:
Provide the final four digits of your SSN
Verification:
Upload a copy of your valid photo ID document
Submit:
Submit the form and wait to get verified
Deposit:
Fund your account
Trade:
Buy your first event contracts for a prediction market event
Download the app and register
Pick an event contract to predict
PrizePicks Prediction Market – Conclusion
In summary, PrizePicks Predict is available in Virginia. If you are over 21 and create a fully verified account, you can trade sports and cultural prediction markets and event contracts.
You’ll need to provide your SSN and a valid photo ID to get fully verified in Virginia before you can deposit funds and trade. We strongly recommend that you consider the financial risks of event contract trading before you get started.
Is PrizePicks Legal in Virginia? FAQ
Yes, PrizePicks now has prediction markets that are offered through PrizePicks Predict. This is a CFTC-registered exchange that’s available in the main app to users in eligible states.
PrizePicks Predict is available in Virginia, with both sports and non-sports prediction markets included. However, the age limit for VA users is 21+, rather than the standard 18+ minimum age limit that applies in other available states.
PrizePicks Predict is regulated as a prediction market exchange by the Commodity Futures Trading Commission (CFTC). As this is a national-level regulator, it’s available to users in 33 states. However, some states have partial restrictions, such as sports prediction markets being unavailable. Additionally, states like Virginia have a higher age limit (21+ instead of 18+).
Download the app and register
Pick an event contract to predict
