ProphetX

Short answer: ProphetX is no longer accurately described by the old review. In June 2026, the CFTC designated ProphetX LLC as a contract market and registered it as a derivatives clearing organization. The current product uses fully collateralized event contracts and publishes a 2% fee on net gains in straight markets.

Commercial disclosure: SureBets may receive commission if you follow a sponsored link and open an account. This does not change our source checks or verdict. Event contracts are risky derivatives, and the full amount committed to a position can be lost.

The new regulatory structure is a material trust improvement, but it does not make every market liquid or every trade suitable. The old 3% commission, sweepstakes-state and general no-limit framing is obsolete. Evaluate ProphetX as a regulated event-contract exchange with trading, liquidity, settlement and legal risks.

The CFTC DCM record shows ProphetX LLC as designated on 11 June 2026. The CFTC DCO record shows it as registered on 10 June 2026 and permitted to clear fully collateralized products.

Regulation does not guarantee profit, product availability or protection from market loss. A contract can expire worthless, and regulatory or court action can change access or settlement.

ProphetX's current fee schedule lists 2% of net gains per market for straight trades and 0% for parlay trades. Its collateral disclosure says the maximum possible loss is collected before execution, with no traditional margin call. Confirm the current fee schedule in your account because programme documents can change.

ProphetX's risk disclosure says markets may lack sufficient depth, preventing a position from being opened, adjusted or closed at the desired price or size. Electronic outages, settlement questions and changes to an underlying event can also affect a trade. The exchange does not take the other side, but that does not ensure a matching participant is available.

The current site advertises $20 in promotional credit after a first qualifying trade of at least $10. It is limited to new accounts and locations where the product is permitted. Check expiry, withdrawal treatment and eligible contracts before relying on the credit.

• Live liquidity across a representative market sample.
• Deposits, withdrawals or identity verification.
• Customer-support response or dispute handling.
• Execution speed during volatile events.
• Availability in every state or territory.

• Confirm legal availability in your location.
• Read the contract specification and settlement source.
• Inspect order-book depth, spread and available size.
• Understand the maximum loss before submitting an order.
• Review fees, arbitration terms and withdrawal rules.

See our betting-exchange guide for product differences, and read our rating methodology before opening an account.

Use only money you can afford to lose and size each position before entry. Do not chase a loss or treat promotional credit as income. Seek independent legal, tax or financial advice if you do not understand the derivative contract.

Is ProphetX regulated by the CFTC?

Yes. CFTC records show ProphetX LLC as a designated contract market and registered derivatives clearing organization in June 2026.

What fee does ProphetX charge?

The current schedule lists 2% of net gains for straight markets and 0% for parlays.

Can a ProphetX position lose its full value?

Yes. Its risk disclosure says a contract can expire without value and the full committed amount can be lost.