Sporttrade Review: Everything to Know About This Prediction Market Platform

In this comprehensive Sporttrade review, we take a closer look at how the platform works, its unique exchange-style betting model, and whether it’s a safe and worthwhile option for US-based sports traders.

Founded in 2018 by CEO Alex Kane, Sporttrade is a real-money, state-licensed sports betting exchange. 

The platform is regulated like a sportsbook but designed to offer transparent pricing and the flexibility of an exchange – think of it as a hybrid between the two. It is currently only available in five US states (New Jersey, Colorado, Arizona, Virginia, and Iowa).

Sporttrade is currently in a transitional phase and has submitted DCM and DCO applications to the CFTC in February 2026. If successful, this would ultimately restructure the platform from its current sportsbook/exchange hybrid model to a federally regulated prediction-style exchange (similar to Polymarket or Kalshi).

Sporttrade is the first to apply for DCM registration while operating a state-regulated platform, which makes its future a little uncertain. This article aims to combine a commentary on the current Sporttrade platform with a glimpse into what Sporttrade could become.

My Experience Using Sporttrade: Overall Platform Rating & Key Takeaways

Founded in 2018 and available in New Jersey, Colorado, Arizona, Virginia, and Iowa, Sporttrade is a basic but impressive platform that blends sportsbook regulation with the transparent pricing and the flexibility of an exchange.

However, for me, the key takeaway from my time testing Sporttrade is that the platform is in an exciting transitional phase. Although some aspects of the site feel dormant at the time of writing, the direction that founder and CEO Alex Kane is looking to take the platform. 

The submission for DCM and DCO Registration in February 2026 is one of the key milestones of the company’s history. Kane was quoted:

The CFTC’s market-based regulatory framework enables Sporttrade to provide market participants an elevated level of efficiency, transparency, and consumer protection relative to what we’ve been able to offer to date. Federal registration will thus allow us to finally unlock the full potential of our natively-built exchange, clearing, and broker technology in our pursuit to always put the customer first.

CFTC regulation will transform the platform as we know it, breathing new life into a sports trading brand that has somewhat stagnated over the last few years. It’s an exciting time for the company, but the form the new product will take remains unconfirmed.

Is Sporttrade Legit, Safe & Regulated?

Sporttrade is a legitimate and safety-focused prediction market platform, operating under strict state-level regulation while actively pursuing federal oversight to further strengthen its credibility and user protections.

Regulation & Legal Status

Since 2022, Sporttrade has been regulated as a state-licensed sports betting operator in the following five states:

• New Jersey: New Jersey Division of Gaming Enforcement (DGE)
• Colorado: Colorado Division of Gaming
• Arizona: Arizona Department of Gaming
• Virginia: Virginia Lottery
• Iowa: Iowa Racing and Gaming Commission

Each state independently reviews and approves Sporttrade’s license to offer exchange-based sports wagering within its jurisdiction. For example, exchange wagering is currently unavailable in Iowa.

In February 2026, Sporttrade submitted DCM and DCO applications to the CFTC, becoming the first to apply for DCM registration while operating a state-regulated platform. This will allow the company to expand across the US – operating much like top competitors (Kalshi, PredictIt, Polymarket, etc.). 

This would present a huge shift for the company, restructuring the platform from a sportsbook/exchange hybrid to a federally regulated prediction-style exchange.

How User Funds Are Protected

Sporttrade provides a wide range of security measures to ensure that players and their data remain safe and secure. Players may access their accounts via password or biometrics – neither of which is stored by Sporttrade.

Players are highly encouraged to enable Multi-Factor Authentication (MFA) to enhance their account security. MFA requires a unique 6-digit code sent via SMS to a verified mobile phone, helping prevent unauthorized access if a password is ever compromised.

All transactions at Sporttrade are encrypted and secured with industry-standard security measures. Sporttrade does not keep your bank login or debit and credit card information; these payment details are managed directly by the payment provider.

Geographic Restrictions

Sporttrade is licensed to operate and is currently accessible only in New Jersey, Colorado, Arizona, Virginia, and Iowa. Sporttrade must verify that users are physically located in one of these states before each bet.

Feature availability may vary by state due to regulatory requirements. For example, Exchange wagering is currently unavailable in Iowa.

Markets Available on Sporttrade

Sporttrade provides fewer markets than a traditional sportsbook but emphasizes quality, guaranteeing that each listed outcome remains tradable until the final settlement. The following sports are currently available for betting on Sporttrade:

• NFL (National Football League)
• NBA (National Basketball Association)
• WNBA (Women’s National Basketball Association)
• MLB (Major League Baseball)
• NHL (National Hockey League)
• NCAA Football (College Football)
• NCAA Basketball (Men’s) (College Basketball)
• Golf
• Soccer
• UFC (Ultimate Fighting Championship)
• Tennis
• Motor Racing

Sporttrade is continually working to broaden its offerings – particularly by submitting DCM and DCO applications to the CFTC. This will allow the platform to greatly expand the list of sports and markets offered.

Fees, Pricing, & Trading Costs at Sporttrade

Sporttrade uses a transparent, exchange-style fee model that differs significantly from traditional sportsbooks. Instead of building a margin (“vig”) into every price, the platform charges a flat 2% commission on net profits only.

No fees are applied to losing trades or the total amount wagered, which means users only pay when they win — a structure that can result in lower overall costs compared to sportsbooks that bake margins into every bet.

Commission Structure Explained

A commission may apply in two situations:

• Closing a profitable position before settlement (selling shares at a higher price than purchased)
• Holding a winning position until settlement, when contracts resolve at $100

In both cases, the fee is 2% of gross profit, not the total stake. Sporttrade may temporarily set aside the expected commission when you exit a trade early, but the fee is only finalized once the market settles.

No Traditional Vig or Hidden Fees

Because Sporttrade operates as a peer-to-peer exchange:

• You trade against other users, not the house, so pricing is driven by supply and demand rather than bookmaker margins
• There is no built-in vig on both sides of a market, unlike traditional sportsbooks

This typically results in tighter pricing, often equivalent to around a 10-cent line (~-105) versus the standard 20-cent line (~-110) seen at most sportsbooks.

Market Pricing & Execution Costs

Instead of fixed odds, Sporttrade uses contract pricing from $0–$100, reflecting implied probability:

• A price of $60 = 60% implied probability
• Winning contracts settle at $100; losing contracts settle at $0

Since markets are exchange-based:

• Prices move dynamically based on buy/sell demand
• You can use market orders (instant execution) or limit orders (price-controlled execution)
• In low-liquidity situations, orders may fill across multiple price levels, which can slightly affect execution price

These aren’t traditional “fees,” but they can influence your effective entry and exit price — similar to spreads in financial trading.

Deposits & Withdrawals

Sporttrade does not charge fees on standard deposits or withdrawals, though third-party providers (e.g., banks for wire transfers) may apply their own charges.

Most payment methods — including PayPal, Venmo, and online banking — are processed instantly or within 1–5 business days, depending on the method.

Overall, Sporttrade’s pricing model is designed to be low-cost and transparent, with:

• ✅ No fees on losing bets
• ✅ No hidden sportsbook margins
• ✅ A simple 2% fee on profits only

For active traders, this structure can offer better long-term value, especially compared to traditional sportsbooks where the cost is embedded into every line.

Deposits, Withdrawals & Payment Methods

Deposit Options

Sporttrade offers a range of safe and secure deposit methods for players to fund their accounts. 

To deposit funds, open the Sporttrade app or website, navigate to Account, click on “Deposit,” and select your preferred deposit method from the available options:

• Online Banking (Trustly)
• PayPal
• Venmo
• Push Cash
• Wire Transfers
• Cash Deposits (Bally’s Atlantic City)

Most deposits are available instantly, except for wire transfers, which typically take 1-3 business days. 

Withdrawal Process

To make withdrawals at Sporttrade, go to “Account,” select “Withdraw,” and choose your preferred withdrawal method:

• Online Banking (Trustly)
• PayPal 
• Venmo
• Push Cash
• Wire Transfer
• Cash (In-Person, Bally’s Atlantic City)

Processing times can range between 1 and 5 business days, depending on the chosen method.

It is important to note that Sporttrade operates across numerous time zones. The standard trading hours are as follows: 

• Eastern Time (ET): Open: 8:00 AM ET, Close: 1:00 AM ET (next day)
• Mountain Time (MT): Open: 6:00 AM MT, Close: 11:00 PM MT
• Pacific Time (PT): Open: 5:00 AM PT, Close: 10:00 PM PT

During off-hours, the Sporttrade app remains fully operational, though market trading and live pricing are disabled.

Sporttrade Customer Support & Help Resources

The Sporttrade Support team is available every day from 8:00 a.m. to 10:00 p.m. Eastern Time and can be reached via the following methods:  

• Email support
• Live chat
• Text: 215-287-1165
• Telephone: 855-951-2900
• Twitter (X) DM: @sporttrade_app

Alongside its selection of contact options, Sporttrade also uses a well-stocked Zendesk-powered FAQ. Here, users can search directly via free text or browse articles in the following categories: 

• Sporttrade 101
• Funding Your Account 
• Betting & Orders
• Location, Devices & Access 
• Account & Security 
• Responsible Gaming 
• Help & Support 

I found the help center particularly useful and of much higher quality than most of Sporttrade’s competitors’. The knowledge shared is top-notch, and when testing the customer support (live chat), I was pleasantly surprised with the quality of service.

How Sporttrade Compares to Other Prediction Markets

Sporttrade sits somewhere between a traditional sportsbook and a modern prediction market, offering a sports-only trading experience that differs in both scope, regulation, and pricing from its main competitors.

Key Differences

Sporttrade operates in a somewhat different space compared to traditional prediction markets.

While platforms like Polymarket and Kalshi typically offer a broad range of topics (politics, economics, culture, sports, etc.), Sporttrade focuses exclusively on sports-event contracts. It uniquely offers a hybrid approach of a sportsbook and a betting exchange. 

Unlike top Prediction Market platforms, Sporttrade is not currently CFTC-regulated and is instead regulated by New Jersey, Colorado, Arizona, Virginia, and Iowa.

However, with the submission of DCM and DCO applications to the CFTC, we may see Sporttrade match its competitors’ regulatory status in the coming months. 

Market depth is one of Sporttrade’s advantages over its competitors, with a wide range of different bet types available. Fees are similar to those of major prediction market platforms, with a 2% commission on gross profits.

Who This Platform Is Best For

Sporttrade, as the name suggests, is best suited to sports-focused users – unlike some competitors, the platform does not offer any other prediction categories.

In its current format, Sporttrade is best suited to beginner/intermediate sports traders. It’s widely accessible (in the five regulated states), can be accessed on mobile (iOS app, and in-browser on Android), and features a basic but highly intuitive design that’s quick and easy to learn. 

Who Should Avoid It

Sporttrade is currently only available in New Jersey, Colorado, Arizona, Virginia, and Iowa – players who are not physically located in these states will not be able to access the platform. 

Those aged 21+ who access the platform in these states will find Sporttrade more intuitive than prediction markets but less powerful. Advanced or highly experienced sports traders may find that Sporttrade is limited compared to what they’re accustomed to.

Explore Other Prediction Market Platforms

If you’re weighing up Sporttrade against other platforms—or simply curious about how different operators structure their prediction markets—there are several well-known alternatives worth considering:

• Crypto.com Prediction Markets: A crypto-native platform entering the space with regulated event contracts, blending digital assets with real-world outcome trading.
• FanDuel Predicts: An experimental extension of the FanDuel ecosystem, offering select users access to real-money predictive markets.
• PredictIt: A long-running academic-focused exchange best known for its political markets and research-driven approach.

Each platform takes a slightly different approach to regulation, market scope, and user experience—making it worth exploring how they compare depending on your preferred trading style.

Final Verdict – Is Polymarket Worth Using?

Sporttrade offers a unique approach to sports betting, blending exchange trading with probability-based pricing to players in New Jersey, Colorado, Arizona, Virginia, and Iowa.

Sporttrade’s recent submission of DCM and DCO applications to the CFTC is the brand’s big story. A potential shift to a federally regulated event-contract exchange would be the biggest change in the company’s history – it’s an exciting time for Sporttrade. 

Currently, it is a safe, state-regulated platform that’s best suited to beginner/intermediate sports traders. But the future is bright for the betting brand, and we’re keen to see how CFTC regulation plays out.