Welcome to my PrizePicks prediction markets review, where I’ll unveil some of the mystery surrounding this relatively new option. The event contracts you’ll find listed on the PrizePicks platform are provided by Kalshi, a specialist in this field.
Event contracts are displayed on the site as TeamPicks for sports events, and CulturePicks, which covers a number of different categories including entertainment, cryptocurrency, politics, economics, and the weather. It’s also worth knowing that prediction markets work differently to DFS contests, and the two products are not interchangeable. All will be revealed in the remainder of this review.
Does PrizePicks have a bonus for prediction markets?
This is one of the questions that I am asked frequently, and the answer is no. PrizePicks does not offer any bonuses or promotions you can use for its prediction markets product.
However, PrizePicks also offers daily fantasy sports contests on the same site, and there is a welcome bonus available for the brand’s DFS product. If you sign up at PrizePicks and spend $5 on paid DFS contest entries, you’ll get $50 of free entries in return.
It’s important to note that the bonus entries can only be used for ‘PlayerPicks’ which is the section of the site dedicated to PrizePicks DFS contests.
How to sign up at PrizePicks
Although you can explore the PrizePicks site, you won’t be able to enter DFS contests, or enjoy prediction markets until you have registered for an account. For a site with a good deal of complexity, PrizePicks has kept this part straightforward, and it should only take you a few minutes to complete the necessary steps.
What is a prediction market contract?
Irrespective of which platform is offering prediction markets, the underlying principle of every event contract, and how it works, remains the same. Each contract is based on a Yes/No answer to a question which relates to a real-world event.
All contracts have a value of $1, which represents 100%. There are always two sides, and your aim is to predict which side will prove correct. The two percentages you’ll see displayed represent the implied probability of that particular outcome.
Based on that you can ‘Buy’ a contract at that price. So if ‘Yes’ was currently showing 60%, each contract would cost $0.60, but just $0.40 for the opposing ‘No’ (40%) option. When the contract concludes, there are two potential outcomes, depending on your prediction.
- If you chose ‘Yes’ and were correct, you would receive $1, equating to $0.40 profit
- If you chose ‘No’ and were correct, you would also receive $1, but with a $0.60 profit
However, if your original prediction was wrong, you receive nothing. Although I’ve mentioned that you would receive $1, that was purely for demonstration purposes, as there are fees to consider. PrizePicks currently takes 2% in fees per correctly-predicted contract, which are deducted before you receive your payout. Losing contracts are not subject to fees.
Why event contract prices change and the subsequent impact
In the basic example I provided above, the prices were the same at the end of the contract as when they were purchased. But in real life, that would rarely be the case. When you buy a contract, the price is not fixed, it’s dynamic. As more people buy or sell contracts, the implied probability will change, meaning that the value of your contract can go up or down.
This can happen for several reasons, including:
- Market sentiment
- An external event
- Users selling contracts
From your perspective, the impact can be directly related to the price at which you purchased the contract versus the closing price. In addition, it can dictate when to sell your contract.
If you purchase a Yes contract at $0.60, and the implied probability rises to 75%, the value has risen, and you may wish to sell to secure a $0.15 profit.
On the other hand, for the same $0.60, if the implied probability drops to 45%, you have already lost $0.15, so you can either hold out in the hope of a reversal, or sell to minimize your losses.
The facts behind Kalshi’s partnership with PrizePicks
Another question that often crops up is how brands like PrizePicks are able to offer prediction market contracts. To answer that, it’s worth taking a look behind the scenes.
PrizePicks partnered with Kalshi at the end of 2025, and as a result PrizePicks added prediction markets to its existing daily fantasy sports offering. Kalshi is a CTFC-regulated exchange which specializes in event contracts in various categories, including sports.
Going back one step further, Kalshi’s prediction market contracts are administered by Performance Predictions II, LLC. The latter is registered as a Futures Commission Merchant with the National Futures Association, and it is also the owner/operator of PrizePicks Predict.
From your perspective as a user, PrizePicks provides Kalshi’s prediction markets alongside its existing DFS contests. Provided you fully understand how prediction markets work, and the risk involved, that’s all you really need to know.
Other relevant relationships in connection with prediction markets
Kalshi is just one of several trading companies that enable brands like PrizePicks to offer prediction markets contracts, and you may find it interesting to see a comparison between Kalshi and two other companies that offer event contracts.
The reality of navigating the PrizePicks site
As a part of my PrizePicks prediction markets review, I explored the brand’s website. As I had expected, a good deal of the information I found related to the brand’s daily fantasy sports offering. However, that does make it slightly confusing for someone who is new to PrizePicks, and has signed up to access event contracts.
The brand does have a disclaimer statement, but it is tucked away right at the bottom of the Footer menu, so I feel a little more transparency is in order. As it stands, the brand has three clickable images on its homepage: PlayerPicks, TeamPicks, and CulturePicks. To clarify, the first is for the brand’s DFS contests, the other two are for prediction markets.
Otherwise, the website is easy to navigate with fast-loading pages and a useful top menu. Under the ‘How to Play’ tab, you’ll find information about the products available, then under the ‘Resources’ tab there’s guidance on state availability, along with help in connection with day to day factors like depositing and withdrawing. Lastly, under ‘Research’ PrizePicks provides useful stats for various sports.
Customer support at PrizePicks
Along with the on-page guidance I’ve already mentioned, and some FAQs towards the bottom of the homepage, there is a Help Center. It’s just a shame that the link to it is hidden away in the Footer menu.
That said, it does contain more detailed information about the site and what you can expect divided into six categories. Now you know how to access it, I recommend that you check there first if you feel left in the dark at any point.
In its favor, PrizePicks does offer 24/7 live chat support, and not only that, there’s no chatbot to slow things down. On each occasion I contacted support I was greeted by a friendly and knowledgeable human agent.
Your payment options at PrizePicks
One thing that you do need to be aware of is that the payment methods available vary depending on whether you wish to enter DFS contests (PlayerPicks) or try out the prediction markets in the TeamPicks and CulturePicks categories.
For the former, you can use debit cards, credit cards, bank transfer, PayPal, Venmo, and Apple Pay. However, for categories that fall under the PrizePicks Predict umbrella, your options are limited to just debit cards, or bank transfer, due to the regulatory guidelines in place for event contracts.
PrizePicks accessibility and eligibility
I’m focusing solely on prediction markets only here, because availability and age limits are two areas where things do get a little confusing. In essence, the availability of Prize Picks Predict event contracts varies between prediction market categories, and US states. The minimum age to sign up at PrizePicks is 18 years old, or the minimum age prescribed by specific states
After working through the brand’s maps (which didn’t help a great deal) I went to the brand’s ‘Account Eligibility’ page, which is found in the Help Center. From the information supplied there, I managed to establish the following facts.
TeamPicks
For the TeamPicks category, all prediction market contracts are for sports events. PrizePicks indicates that TeamPicks are available in 34 states, with a minimum age of 18 years for most, but it is higher in Louisiana and Iowa, where you’ll need to be at least 21 years old.
CulturePicks
Prize Picks claims that CulturePicks are available in 48 US states. Again the minimum age is 18 years for the majority of those, with the exceptions being:
- 19+ in Colorado
- 21+ in Massachusetts
NB. As prediction market contracts are a relatively new product in the US, it is quite likely that there will be plenty of changes before the legalities are fully ironed out and things settle down. For that reason, I strongly suggest that you double-check the PrizePicks eligibility requirements for yourself before you sign up.
The PrizePicks mobile app
PrizePicks has dedicated mobile apps available for both iOS and Android devices. Links to both are provided on the brand’s website, or if you prefer, you can download them directly from the App Store, or Google Play according to your device.
The app gives you access to PrizePicks DFS contests and the same prediction market categories. Theoretically, all of the same features are there too, but can be more difficult to find on a smaller screen.
Naturally, there are certain benefits associated with using the app, like push notifications, and the ability to monitor your event contracts when you are travelling. However, I found the overall experience was better when using a PC, mainly because performing a task on the app, like checking the details of an event contract, results in the entire screen being taken up.
The prediction markets available at PrizePicks
While I would have preferred to see the two PrizePicks prediction market sections separated from DFS picks, once you work out which is which it is a little more straightforward.
Note that there are just two categories: TeamPicks and CulturePicks. But that doesn’t mean a lack of variety. You’ll only find sports event contracts under TeamPicks, but under CulturePicks, there’s an eclectic mix of topics available.
TeamPicks
As I mentioned earlier TeamPicks are available in 34 states. In this category you can predict the outcome of various sports events. All prediction markets contracts at PrizePicks are ‘binary’ meaning that they are based on a question where the only possible answers are ‘Yes’ or ‘No’.
Most event contracts available concern the match winner, but you will also encounter questions relating to totals, and spreads. As always, every event contract has a maximum $1 value, and the percentages represent the implied probability of the two outcomes.
One thing you will notice, is the gap between the two outcomes can vary wildly depending on the sports event itself. Here’s a couple of theoretical examples:
- In a matchup between NHL giants the New York Rangers and the Los Angeles Kings, who are fairly evenly matched, you may see an equally close implied probability, maybe as close as 49% for the Rangers, and 51% in favor of the Kings.
- In a different scenario where the Rangers are drawn against the Vegas Golden Knights, the probability gap might extend to as much as 75% in favor of the Rangers and 25% for the Knights.
Of course, before either of those matches take place, the probabilities, and in turn the price of a contract might change considerably if market sentiment changes. A key player missing due to injury, or the addition of a new superstar being announced for the underdog team, for example.
In reality, all types of trading carries a risk, because the value of your investment, in this case a sports event contract, can go up or down.
PrizePicks Predict is a new product that’s worthy of your attention
As I wind up my PrizePicks prediction markets review, I hope I’ve left you clearer on the scope of this new trading product, and the types of contract events you’ll find in the PrizePicks Predict section of this site.
Now you know how things work at PrizePicks, and the types of event contracts you’ll be able to access, I hope that now feel ready to give PrizePicks Predict a try for yourself. If so, just head for the banners of this page, and click on the link you’ll find there. You’ll be up and running in no time.