Kalshi is great, but it's not the only prediction market. Whether you want deeper liquidity, different markets, or access outside the US, here are the best apps like Kalshi.
1. Polymarket — Best for liquidity
What it is: The largest prediction market by volume. Crypto-based (USDC), runs on Polygon.
Best for: Political markets, crypto events, deep liquidity.
Pros:
- Deepest liquidity on most events
- Fast, cheap trades (Polygon blockchain)
- Zero trading fees (currently)
- Wide market selection
Cons:
- Blocks US users (officially)
- No regulatory protection
- Requires crypto (USDC)
Verdict: If you're outside the US and want the best liquidity, Polymarket is the top choice.
2. PredictIt — Best for US political junkies
What it is: A prediction market run by Victoria University, operating under a CFTC no-action letter.
Best for: US politics, elections, political nerds.
Pros:
- Legal for US residents
- Strong political market selection
- Active community
Cons:
- $850 position limit per market
- 10% fee on profits
- 5% withdrawal fee
- Uncertain regulatory future
Verdict: Good for casual political trading, but fees and limits hurt serious traders.
3. Metaculus — Best for forecasting (no real money)
What it is: A forecasting platform where you predict outcomes for reputation points, not money.
Best for: Sharpening your forecasting skills, long-term predictions, science/tech events.
Pros:
- No money required
- Great for learning probability calibration
- Unique long-term questions (AI timelines, climate, etc.)
- Strong forecasting community
Cons:
- No real money trading
- Less immediate feedback than markets
Verdict: Perfect for practice and intellectual forecasting. Not for making money.
4. Betfair Exchange — Best for sports
What it is: A betting exchange (peer-to-peer) for sports and some political events. Based in the UK.
Best for: Sports betting with exchange mechanics, UK/EU users.
Pros:
- Massive liquidity on sports
- Exchange model (trade in/out like a market)
- Professional-grade tools
Cons:
- Not available in the US
- Focused on sports, limited event contracts
- Commission on winnings
Verdict: Best sports betting exchange in the world, but not a true prediction market.
5. Manifold Markets — Best for fun/experimental
What it is: A play-money prediction market where anyone can create markets on anything.
Best for: Casual predictions, community questions, experimenting with forecasting.
Pros:
- Free to use (play money)
- Anyone can create markets
- Fun, social experience
- Good for testing prediction skills
Cons:
- No real money
- Less serious liquidity/accuracy
Verdict: Great for casual forecasting and community. Not for real trading.
6. Robinhood (Event Contracts) — Best for beginners
What it is: Robinhood now offers event contracts on some markets (elections, economics).
Best for: People who already use Robinhood and want simple event trading.
Pros:
- Familiar interface if you use Robinhood
- Easy funding (already linked bank)
- Legal in the US
Cons:
- Very limited market selection
- Less depth than Kalshi
- New product, still maturing
Verdict: Convenient if you're already on Robinhood, but Kalshi has more markets.
7. Iowa Electronic Markets (IEM) — Academic classic
What it is: A small-scale prediction market run by the University of Iowa since 1988.
Best for: Academic interest, historical data, small-stakes political trading.
Pros:
- Legal in the US (academic exemption)
- Longest-running prediction market
- Good historical track record
Cons:
- $500 max investment
- Very limited markets
- Outdated interface
Verdict: Historically important, but outclassed by modern platforms.
Quick comparison
| Platform | Real money? | US legal? | Best for |
|---|---|---|---|
| Kalshi | Yes | Yes | All-around prediction markets |
| Polymarket | Yes | No | Deepest liquidity |
| PredictIt | Yes | Yes | Political markets |
| Metaculus | No | Yes | Forecasting practice |
| Betfair | Yes | No | Sports |
| Manifold | No | Yes | Fun/community |
| Robinhood | Yes | Yes | Simple event contracts |
Track markets across platforms
Alphascope aggregates Kalshi and Polymarket in one place:
- Predictions → Compare prices across platforms. Find the best odds.
- News → Breaking stories linked to affected markets on both platforms.
FAQ
What's the best Kalshi alternative?
For US users: PredictIt (with limitations) or Robinhood event contracts. For non-US users: Polymarket.
Is Polymarket better than Kalshi?
Polymarket has deeper liquidity but isn't legal in the US. For US residents, Kalshi is the better (and only legal) choice.
Are there free prediction markets?
Yes. Metaculus and Manifold Markets are free (play money or reputation-based).
Can I use multiple prediction markets?
Yes. Many traders use Kalshi + Polymarket (if non-US) to compare prices and find arbitrage.
Which app has the most markets?
Polymarket has the widest selection. Kalshi is more selective due to CFTC requirements.