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Sites like Kalshi and Polymarket don’t ask for exemptions on every contract. The CFTC can allow sites to offer contracts on events, even if they don’t neatly fit into traditional futures law. For example, futures contracts on sporting events and elections don’t really hedge economic risk or aid price discovery.
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However, it’s always worth shopping around for the best odds, as sportsbooks sometimes offer you larger potential profits than prediction markets. If you don’t sell your postion, you’ll win $1,112 if the Patriots win the Super Bowl. For that reason, it’s important to choose a prediction site with strong liquidity – lots of active traders.
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