US Sportsbook Market Share 2026 FanDuel vs DraftKings vs BetMGM

That may not be a tacit admission that prediction markets are betting, but at the very least, it’s a signal that the audiences share a lot of crossover. “We’ve been in this movie before, where there is an asset class that is moving faster than regulation,” Asaf Meir, founder and CEO of financial surveillance company Solidus Labs, told The Athletic. They are regulated as financial exchanges under the CFTC, which has federal jurisdiction, thus allowing prediction markets to operate in all 50 states.

While sports betting has its own taxation laws, which remain in flux, prediction markets are taxed as futures. Perhaps the clearest legal encapsulation of where prediction markets stand is in how they are taxed. The laws and regulations that are being applied to prediction markets were not written for these specific expressions of futures markets. The main material difference from the consumer side is that it’s generally easier to cash out at any time; you can best offshore sportsbook keep trading it like a stock until the event closes. For this reason, prediction markets have been careful to define themselves separately from gambling and emphasize the fact that you are putting up money against another market participant on the other side, rather than betting against “the house” as in traditional sports betting.

Similar to the stock market, the betting market is simply a “gathering of people for the purchase and sale of goods”. In this way, sports betting markets can be thought of as the marketplace for odds. When odds are set, they are not set in stone, but will fluctuate up or down as bettors lay down money. Odds exist within betting markets to set the price of betting.

If your bet settles as a loss, get the stake of the eligible wager back, up to $1,000. Terms, including FanCash terms apply-see Fanatics Sportsbook app. New customers in AZ, CO, CT, DC, IA, IL, IN, KS, KY, LA, MA, MD, MI, MO, NC, NJ, OH, PA, TN, VA, VT, WV, or WY (excl. NY). “We believe what’s happening in prediction markets is sports gambling. Kalshi and Polymarket were the disruptors, but sports betting companies and even fantasy sports companies are joining in, as well as investment apps like Robinhood.

Even if it’s not going to be the highest-volume market or highest revenue-producing market, if we think there is interesting or pertinent information to be gleaned from it, we’ll list it. The two companies gained wider awareness for allowing people to put money down predicting presidential elections, but sports predictions have been critical to their growth and to the number of companies entering the space. Broadly, prediction markets are exchanges, like stock markets, where people bet on the outcomes of future events. For operators, success is not about offering as many markets as possible, but about offering the right ones.

Because the companies running the prediction markets don’t care who wins, the companies aren’t exposed to the risk of users beating them to news and information. FanDuel Predicts is expected to expand to other states in 2026, but did say in a press release that “As new states legalize online sports betting, FanDuel will cease offering sports event contracts in those states.” That federal regulation has been essential to the sudden growth of prediction markets because that means they can go live in all states, including those where traditional mobile sports betting remains illegal, such as California and Texas.

For casino games, check out DraftKings Casino promo code. DraftKings Sportsbook is known for its daily promos and odds boosts that keep the betting experience exciting at all times. To learn more, be sure to check out our detailed Fanatics review. Most states have a strong alternative secondary offer, as well.

New customers with DraftKings can place an initial deposit and wager of $5 or more on any sports market to receive $200 in bonus bets, win or lose. BetMGM is one of the top-rated sportsbooks in the U.S. offering some of the best live betting odds in the industry. Other operators, barring a revenue surge, won’t reach the thresholds for higher brackets. Mississippi regulators and lawmakers have flirted with authorizing online sports betting repeatedly, most recently in January 2026, but it remains a casino-only state. I’ve been tracking the regulated U.S. sports betting market since New Jersey took the first post-PASPA wager in June 2018.

Betting on elections is strictly prohibited across the U.S., even though it’s allowed in countries like Canada and the U.K. You’ll find great moneyline odds, along with other fight betting markets like “Method of Victory”, over/under a set number of rounds, or how many punches each fighter will land. The MLB season spans several months, offering numerous games for betting enthusiasts.