ProphetX is a peer-to-peer sports prediction market in the United States. ProphetX covers sports event contracts only, not politics or casino games. The CFTC approved ProphetX as a Designated Contract Market and Derivatives Clearing Organization. ProphetX launched nationwide on June 18, 2026. ProphetX retired its earlier sweepstakes model after the approval. Lines.com explains how ProphetX works, what ProphetX charges, and where ProphetX operates.
ProphetX is a sports-native prediction market and peer-to-peer betting exchange. ProphetX lets users trade on sports outcomes as event contracts.
Traditional sportsbooks set odds and take the other side of each bet. ProphetX instead matches one user against another user. ProphetX prices outcomes through market activity, not a fixed bookmaker line.
ProphetX was founded in 2018, per a company statement. ProphetX operates at prophetx.co and runs mobile apps for iOS and Android.
Learn more about prediction markets on Lines.com.
No. ProphetX is a prediction market exchange, not a traditional sportsbook. ProphetX offers sports event contracts, not slot machines or table games.
A sportsbook builds a margin, called the vig, into every line. ProphetX removes that house margin through direct user matching. ProphetX users set prices directly, so no fixed house line applies.
ProphetX prices markets through supply and demand. Users either post a price or accept an existing offer.
ProphetX runs on back-and-lay trading. A back position wins if an outcome happens. A lay position wins if the outcome does not happen. Lay trading lets a user take the side a sportsbook normally holds.
The trade flow follows four steps:
Liquidity measures how much money sits at each price. Major sports markets match quickly. Smaller markets can take longer to fill.
Important: American odds of -110 imply a 52.4% probability. The 2.4% above 50% is the sportsbook margin, the vig. ProphetX removes that built-in margin because users set prices directly.
ProphetX charges a 2% commission on net winnings in each market. Review sites in 2026 describe the charge as a Payout Adjustment Fee.
The fee applies to winning trades only. ProphetX charges no fee on losing trades or unmatched trades that cancel. That flat structure sits below the 4% to 7% margin built into typical sportsbook lines.
ProphetX holds CFTC approval as a Designated Contract Market and a Derivatives Clearing Organization. ProphetX announced the approval on June 11, 2026. PR Newswire and Covers reported the milestone.
Key takeaways
Dual DCM and DCO registration lets ProphetX trade, clear, and settle contracts in-house. ProphetX describes itself as America’s first sports-native prediction market. ProphetX launched its sweepstakes product in September 2024. ProphetX received CFTC approval before rival Novig. Novig followed with a Designated Contract Market designation on June 16, 2026. The transition changed how users fund accounts and collect winnings.
Prophet Points and Prophet Cash were the two currencies in the ProphetX sweepstakes model. Prophet Points served as the play currency and held no cash value.
Prophet Cash was redeemable for real money prizes after requirements. The CFTC-regulated exchange uses real-money event contracts instead. Some review sites still describe the older currency system.
ProphetX operates in the United States as a CFTC-regulated exchange. ProphetX launched nationwide on June 18, 2026. ProphetX reports availability in 49 states, with Nevada excluded.
State availability varies by source and can change. ProphetX uses geolocation to confirm a user location. ProphetX requires identity verification, known as KYC.
Sweepstakes-era reviews listed more excluded states, including California, New York, and New Jersey. That list predates the CFTC-regulated launch and may no longer apply.
ProphetX availability is not guaranteed in every state. Check your state regulations before using ProphetX.
ProphetX offers a welcome bonus for new users. The common welcome offer is Trade $10, Get $20.
New users make a first qualifying trade of at least $10. Eligible users then receive $20 in bonus funds within one day. Promo codes vary by affiliate partner. Reported codes include COVERS, SICOM, ROTOBONUS, and DIME.
ProphetX also runs a referral program. The program gives the referred user $25 and the referrer $25. Referrer rewards rise by $5 per additional qualifying referral, up to $50. A referral qualifies after a $50 deposit within 30 days and a $50 trade.
ProphetX covers major United States sports leagues. ProphetX also lists combat sports and individual sports.
Reported sports on ProphetX include:
Market availability depends on the sport and user activity.
Learn more about sports betting markets on Lines.com.
ProphetX runs as a mobile-first app on iOS and Android. ProphetX is available on the Apple App Store and Google Play.
App store data shows an iOS rating near 4.8 and an Android rating near 4.5.
ProphetX sign-up follows a short flow:
ProphetX supports online banking and cryptocurrency payments. Aeropay handles online banking transfers. ZeroHash handles cryptocurrency payments. ProphetX also supports wire transfers.
The reported minimum deposit is $10. The reported minimum withdrawal is $1 for most methods. Aeropay can process instant withdrawals for supported banks. Wire transfers can take up to 72 hours. Paper checks can take 7 to 14 days.
ProphetX competes with other prediction market platforms. The four platforms differ on model, regulation, and market range.
ProphetX and Novig both focus on sports markets. Kalshi and Polymarket list broader event markets.
See how prediction markets price live sports events right now on Lines.com.
ProphetX was founded in 2018 by Dean Sisun and Jake Benzaquen. Both founders attended Vanderbilt University, per company profiles.
ProphetX began in the United Kingdom as a licensed peer-to-peer sports-trading marketplace. ProphetX has raised about $31.1M across 19 investors, per Tracxn. Named investors include Belvedere Strategic Capital and Chicago Trading Company.
ProphetX requires KYC identity checks and uses geolocation for state eligibility. CFTC oversight adds a federal regulatory layer after the June 2026 approval.
ProphetX is a sports prediction market exchange, not a sportsbook. ProphetX prices outcomes through back-and-lay, peer-to-peer trading with no house vig. ProphetX now holds CFTC approval as a DCM and DCO. If you understand implied probability, you understand most of how ProphetX works. Confirm current states, fees, and terms on ProphetX official channels before you sign up.
ProphetX is a peer-to-peer sports prediction market and betting exchange. ProphetX matches users against each other, not against a house. ProphetX holds CFTC approval as a DCM and DCO, announced June 2026.
ProphetX operates as a CFTC-regulated exchange in the United States. ProphetX launched nationwide on June 18, 2026. Availability varies by state, and Nevada is excluded. Check your state rules before using ProphetX.
Yes. ProphetX now runs a CFTC-regulated real-money exchange. Users trade event contracts and collect winnings on settlement. ProphetX previously used Prophet Cash under a sweepstakes model.
The common ProphetX offer is Trade $10, Get $20. Promo codes vary by affiliate partner. Reported codes include COVERS, SICOM, and ROTOBONUS, per 2026 review sites.
Prophet Points were the play currency in the ProphetX sweepstakes model. Prophet Points held no cash value. Prophet Cash was the redeemable currency for prizes. The CFTC-regulated exchange uses real-money contracts instead.
ProphetX charges a 2% commission on net winnings, per 2026 reviews. The fee applies to winning trades only. ProphetX charges no fee on losing or unmatched trades.
ProphetX is a funded company founded in 2018. ProphetX holds CFTC approval as a DCM and DCO. ProphetX requires KYC and uses geolocation for eligibility.
Yes. ProphetX offers apps on the Apple App Store and Google Play. ProphetX is mobile-first. App store data shows ratings near 4.8 on iOS and 4.5 on Android.
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