A lot is happening in sports right now, and prediction market companies are doing their best to get a piece of the action. With football in full swing and basketball and hockey filling out the weekly schedule, several exchanges are offering new customers extra trading funds for trying their platforms.
Prediction market promos have become increasingly common, but November's offers are particularly interesting. Kalshi, Polymarket, ProphetX, Novig, and OG.com are all advertising welcome incentives, with some reaching $75. You won't necessarily get that money just for opening an account, though.
Here's What the Exchanges Are Giving Away
The offers aren't all structured the same way. Some companies reward an initial deposit, while others require you to trade a certain amount before receiving anything.
Here's a quick look at the promotions being advertised for November:
- Kalshi: Up to $60 in bonus trading credits after a $10 minimum deposit and $25 in qualifying trades.
- Polymarket: $25 to $50 in promotional funds after depositing at least $10, depending on the offer.
- ProphetX: $75 in trading credits after completing $50 in qualifying transactions.
- Novig: $50 in promotional credits with a minimum $10 deposit.
- OG.com: Between $10 and $50 in bonus funds, depending on the promotion and trading requirements.
These offers aren't necessarily available to everyone. Some require registration through a promotional partner, and eligibility can depend on your location and whether you've previously used the platform.
Don't Confuse Trading Credits With Free Cash
Here's where things can get a little confusing. Seeing a company advertise $50 for depositing $10 makes it sound like you're immediately walking away with extra money. In most cases, you're actually receiving credits that must be used to trade contracts.
Novig's $50 promotion, for instance, is split into smaller credits with restrictions on which contracts qualify. ProphetX has advertised a $75 promotion that pays out in installments rather than adding the entire amount to your account at once.
Those details matter, especially when expiration dates come into play. Some promotional credits expire within days, while others remain available for several weeks. You could qualify for an offer and still lose the credits if you don't use them before the deadline.
Everybody Wants a Piece of the Sports Crowd
It's easy to see why these companies are investing in welcome promotions. Football brings a huge audience every week, and basketball and hockey give sports traders something to follow almost every night.
Kalshi and Polymarket already have considerable name recognition, but ProphetX, Novig, and OG.com are trying to establish themselves in an increasingly competitive industry. Promotional credits give potential customers a reason to explore an unfamiliar exchange.
The bigger challenge comes afterward. Getting someone to register is one thing, but keeping them interested means offering markets they actually want to trade, competitive transaction costs, and an easy-to-navigate platform.
The Trade Handle Prediction Markets Take
We've seen plenty of competition between prediction market companies over the past year, but the growing number of welcome promotions adds another element to that battle.
For readers, it's useful to know what's available without getting caught up in which company is advertising the biggest number. A $75 offer might sound better than $25, but the smaller promotion could be easier to qualify for and use.
We're also interested in whether these incentives will become a regular part of the industry or eventually lose their appeal. For now, the exchanges clearly see value in attracting newcomers, and November's promotions show just how competitive that effort has become.
If you're exploring one of these platforms, check the current terms, eligibility requirements, and expiration dates before depositing. Promotional credits aren't guaranteed profits, and trading contracts still carry the risk of losing money.