PredictIt Review 2025: Legal Election Betting Markets for U.S. Politics

Have you ever confidently predicted the outcome of an election and thought, “I wish I could put money on this”? Well, with PredictIt, you actually can! It’s a legal platform where you can trade—essentially bet—real money on U.S. political events.

As a political junkie myself, I’ve personally used this online prediction market, betting on everything from presidential races to key Senate votes and even high-profile Supreme Court nominations.

In this detailed PredictIt review, I’ll walk you through everything I’ve learned from firsthand experience: how it works, what sets it apart from other election betting sites, and whether it’s a smart way to profit from your political insights. Let’s dive in!

PredictIt Review: My Experience & Honest Feedback

“After my in-depth review, there’s a lot to like about PredictIt, especially if you’re interested in betting on U.S. elections and political events.

One of the biggest advantages is that it’s legal to use in all 50 states, which makes it accessible no matter where you’re based.

The trading hours are another plus—nearly 24/7, with just a short break from 4 to 5 am ET, so you can trade pretty much any time.

That said, there are a few downsides to consider. PredictIt charges a 10% commission fee on all profits, which can add up over time. On top of that, there’s a 5% fee on withdrawals, which isn’t ideal.

Another drawback is that PredictIt only focuses on politics and political events, so if you’re looking for markets in sports, pop culture, or other areas, this might not be the best platform for you.”

– Peyton Powell (iGaming Writer & Editor)

Fact Checked By: Mike McDermott

Pros & Cons

Key Takeaways

• Financial Trading Platform: PredictIt is a prediction market where users trade “event contracts” on U.S. elections and political outcomes. As a result, it’s best categorized as a financial trading platform, not a gambling site (like sportsbooks or online casinos).
• How It Works: PredictIt allows users to buy and sell shares in political events, with each share priced between 1 and 99 cents based on the likelihood of an event occurring. If the event happens, the “Yes” shares are worth $1, while “No” shares become worthless, and vice versa if the event doesn’t happen. You can also sell your shares at any time before the market closes, with the value changing as market sentiment shifts.
• Fees: PredictIt charges a 10% commission on profits earned from winning trades, along with a 5% fee on all withdrawals from the platform.
• Legality: PredictIt operates legally in all 50 U.S. states under a No Action letter granted by the Commodity Futures Trading Commission (CFTC), meaning it’s compliant with U.S. regulations for prediction markets.
• Ownership: PredictIt is owned by Victoria University of Wellington (New Zealand) and is primarily intended for research into decision-making, with its main goal being educational rather than for-profit.

What Is PredictIt? A Quick Introduction & Overview

PredictIt is a website where you can trade real money on the outcomes of U.S. political events.

Think of it like a stock market for politics—users buy and sell “event contracts” based on predictions for elections, congressional votes, major political appointments, and other significant political developments.

For example, PredictIt was especially popular during the 2024 U.S. presidential race, with users betting on who would win: Kamala Harris or Donald Trump.

What makes PredictIt unique is that it’s not just a platform for betting and winning money; it also serves as a valuable resource for academic research.

Operated by Victoria University of Wellington in New Zealand, with support from Aristotle, Inc., the platform shares its data with universities and research organizations.

This data is then used to explore topics like political behavior, economics, and decision-making, offering valuable insights into how people predict political outcomes and how markets react to political events.

How Does PredictIt Work? A Guide to Buying and Selling Shares

PredictIt works by letting users buy and sell shares on U.S. political events, essentially predicting outcomes and trading real money based on those forecasts.

Each share is priced between 1 and 99 cents, reflecting the market’s perceived probability of an event occurring. If you believe an event is more likely than the market suggests, you buy “Yes” shares; if you think it’s less likely, you buy “No” shares.

For example, you can currently predict whether Congress will confirm a Supreme Court justice in 2025.

Right now, “Yes” shares are priced at 33 cents, meaning the market sees a 33% chance of confirmation. On the other hand, “No” shares are priced at 67 cents, reflecting a 67% chance of the event not occurring.

If a Supreme Court justice is confirmed in 2025, the “Yes” shares will be worth $1.00. If the confirmation doesn’t happen, the “No” shares will be worth $1.00. However, if you’re wrong and the outcome is the opposite of your prediction, your shares will lose all their value.

You can also sell your shares at any time before the market closes or hold onto them, with the potential to either profit or lose money based on shifting market sentiment and the actual outcome.

PredictIt Promo Code & Sign Up Bonus

Unfortunately, PredictIt doesn’t currently offer a sign-up bonus for new users, which is a bit of a letdown.

For comparison, Kalshi—another prediction market platform where you can bet on real-world events—provides a $25 welcome bonus through its referral program. So, I was hoping for something similar at PredictIt but came up empty.

While some other reviews mention a 100% deposit match up to $50, I wasn’t able to find any solid confirmation of that.

If you’re after a sign-up bonus, I’d suggest giving Sportzino a look. They offer a $10 no-deposit bonus for new players, and their prediction markets cover everything from sports to politics to entertainment.

Banking Options: Understanding Fees, Pricing, and Commissions

When it comes to banking options, PredictIt keeps it pretty simple, but there are a few things to know. You can deposit money using your debit or credit card, which is easy enough.

For withdrawals, you’ve got two choices: an ACH transfer to your bank account (which typically takes 2-3 business days), or a physical check mailed to your home—though that could take several weeks to arrive.

Now, if you’re like me and wondering how PredictIt makes money, here’s the answer: they don’t. The site is owned by Victoria University, a non-profit institution; however, they still need to cover operational costs.

There are no fees on deposits, but PredictIt does charge a 5% fee on withdrawals. Plus, if you sell a share for more than you paid or redeem it for $1 when the market closes, they’ll take a 10% fee on your gains.

This is a little different from election betting sites like Kalshi, which don’t charge withdrawal fees but do have small trading fees for each contract you buy.

On the bright side, PredictIt has a low minimum deposit of just $10. You can also buy individual contracts for as little as $0.01, though keep in mind there’s an $850 maximum position size on any single event. So, if you’re a high roller looking to place big bets, this might not be the prediction market website for you.

Deposits

Payment Method	Min. Deposit	Deposit Fees
Debit/Credit Card	$10.00	None

Withdrawals

Withdrawal Method	Min. Withdrawal	Withdrawal Fees
ACH/Bank Transfer	$10.00	5.00%
Check	$10.00	5.00%

PredictIt Betting Markets & Trading Options

When I first signed up for PredictIt, I was a bit surprised by the limited selection of prediction markets. At the time, there were only 17 available, organized into categories like “Trump Administration,” “Elections,” and “Congress.”

Some examples included questions like “Who will win the Democratic nomination for Mayor of New York?”, “Which party will win the 2025 gubernatorial election in Virginia?”, and “How many votes will it take to confirm Pam Bondi as Attorney General by April 30?”

To be honest, PredictIt’s selection felt a bit underwhelming, especially since I had just finished reviewing Kalshi, a similar site that offers hundreds of markets across all kinds of topics—politics, pop culture, economics, weather—you name it.

But, to be fair, I wrote this review in January, which is quite a long way from the major federal elections in November. Plus, 2025 is an off-year, meaning there won’t be a presidential election or midterms taking place.

So, it makes sense that there are fewer markets available right now, and I’d expect more trading options to become available in the future.

Is PredictIt Legit? Safety, Security, & Legality Explained

Yes! PredictIt is a legitimate prediction market where you can trade “event contracts” and earn real money by predicting the outcomes of U.S. elections and other political developments.

The platform operates legally in all 50 U.S. states, thanks to a special No Action letter granted by the Commodity Futures Trading Commission (CFTC) in October 2014. This letter allows PredictIt to function within specific guidelines that ensure it remains compliant with U.S. law.

To meet these requirements, PredictIt imposes a few restrictions: each market can only have up to 5,000 traders, and individual investments are capped at $850 per event. These limits help keep the site within legal boundaries while still offering a fun and engaging trading experience.

The platform is run by Victoria University of Wellington, a non-profit educational institution in New Zealand. Its main goals are education and research, and the site’s fees are used to cover operational costs rather than generate profit.

PredictIt is also supported by Aristotle International, a U.S.-based company that handles data processing and verification.

As for safety, PredictIt takes the security of your personal and financial information seriously, using encryption and other security measures to protect your data. Of course, it’s always wise to stay cautious and mindful when sharing personal details online.

Mobile App Experience & User Feedback

PredictIt doesn’t currently offer a dedicated mobile app for iOS or Android devices. However, the website works well on smartphones, tablets, and other mobile devices, and I found the experience to be quite smooth when using it on my iPhone.

The PredictIt mobile site features an intuitive layout with five main tabs at the bottom of the screen: Markets, Trends, Dashboard, Account, and Support.

• Markets: Displays all the available prediction markets and event contracts. You can easily sort them based on trading volume, keywords, recent price changes, and more.
• Trends: Shows “New Arrivals,” which are markets that were recently added, as well as the latest trends and biggest price moves within the last 24 hours.
• Dashboard: Provides a quick overview of your open markets and investments, making it easy to track your activity.
• Account: Offers access to your settings, account details, trading history, and other personal information.
• Support: Where you can seek help from customer support and get answers to any questions you might have.

One feature I especially liked was the “Watchlist,” located in the top left corner. This allows you to save specific markets and events, so you can monitor them and jump in when the timing feels right.

Overall, the mobile experience on PredictIt was solid. Everything loaded quickly, and I had no trouble navigating through the site. The only thing I’d mention is that the design feels a bit outdated and could probably use a refresh. That said, it didn’t affect usability, and my experience was still a good one.

PredictIt App Ratings for iPhone & Android

How Do I Contact PredictIt Customer Support?

The easiest way to reach PredictIt’s customer support team is via email at [email protected]. You can also send a message directly through their website, and they’ll get back to you via email.

If you prefer social media, you can connect with PredictIt on Facebook, Instagram, or Twitter/X (@PredictIt). In addition, for quick answers to common questions, the prediction market offers a detailed FAQ page covering everything from trading and markets to deposits, withdrawals, and more.

When I reached out via email with a few questions during my review, I was pleasantly surprised by how fast they got back to me—within 24 hours. They were very friendly and made sure to answer everything clearly.

Final Thoughts on PredictIt: Is It Worth Your Time?

After spending time exploring PredictIt, I can confidently say the platform is truly unique and has a lot to offer.

As one of the only safe and legal options for betting on U.S. elections, it fills a distinct niche that’s perfect for anyone passionate about politics. Plus, with a low $10 minimum deposit, it’s accessible to new users who want to test the waters without making a significant upfront investment.

Of course, there are some downsides worth mentioning. The 10% commission fee on profits and 5% fee on withdrawals can cut into your earnings, and the platform’s exclusive focus on politics might feel limiting if you’re hoping for prediction markets in sports, entertainment, finances, or other topics.

That said, if you’re interested in betting on elections and political events or just want a new way to engage with current events, PredictIt is absolutely worth a try!

Frequently Asked Questions (FAQ)