An alternative is a different product, not a clone.
Kalshi remains the default on best US prediction markets: CFTC designated contract market, cash, KYC. You only need this URL if that product is the wrong tool — politics depth, a wallet board, practice, a second DCM, or crypto sports. Gamma Score weights (last reviewed August 2026, published on Trust): liquidity 25%, variety 20%, region access 15%, KYC friction 15%, fees 10%, UX 10%, transparency 5%. DefiLlama TVL is one on-chain liquidity signal. It is not this ranking. Why we refuse to paste Llama as a top 10.
PredictIt
US politics specialist. Tighter limits and a narrower catalog than Kalshi — not a DCM clone.
Polymarket
Global crypto event board. Check access first. Not a CFTC cash exchange.
Manifold
Practice and community. Learn mechanics before a cash or wallet venue.
ForecastEx
Second US CFTC event-contract research route. Smaller catalog, same legal family.
Azuro
On-chain sports liquidity. Use only if sports-crypto is why you left Kalshi.
Why this page moved in September 2026
Kalshi sports event contracts are no longer one nationwide click. The Third Circuit (April, 2–1) treated them as swaps under the Commodity Exchange Act. The Ninth Circuit (28 Aug, 3–0) said they have the hallmarks of sports betting. New Jersey asked the Supreme Court to take the case. CNN named Nevada, Michigan and Washington as states with orders that shut Kalshi sports bets, at least. Full desk read: Kalshi sports is a map now.
That does not mean “abandon Kalshi.” Economy and other cash event contracts are still a DCM product. It means: if the reason you want an alternative is a dark sports tile, do not jump to a BNB board and call it the same trade. If the reason is politics depth, start at PredictIt. If the reason is global crypto discovery, start at Polymarket and read the access line.
1. PredictIt — politics, not a second Kalshi
PredictIt is the name we send a US reader who wanted election and policy markets and found Kalshi’s politics book the wrong shape. It is still a US, KYC, cash-adjacent research venue. It is not a CFTC designated contract market in the Kalshi sense, and it is not “Kalshi with a mascot.” Position limits and a narrower catalog are the point of the comparison, not a footnote. Pair this page with Kalshi vs PredictIt before you size anything.
Fees and withdrawal rules change. We will not freeze a percentage here. Read PredictIt terms ↗ and the ticket. KYC is required. If you wanted no-KYC, this is the wrong row — that query is no-KYC markets.
2. Polymarket — the global board, if you can open it
Polymarket is the crypto event-discovery benchmark on our flagship list. DefiLlama’s 8 Sep 2026 pull put Polymarket International at $361.1 million TVL — 84.5% of the category’s pool capital. That is why the board feels thick on politics, crypto and culture. It is also why people confuse TVL with “best US alternative.” Polymarket is not a DCM. Access is regional. Wallet custody is the product. Confirm you are allowed to use it before you treat a mid as yours.
Fees: some categories are fee-enabled, some are not. Official note: Polymarket trading fees ↗. Method: mid is not a fill. Side-by-side with Kalshi: Polymarket vs Kalshi.
3. Manifold — practice, then stop calling it cash
Manifold is on this list so beginners have somewhere to learn order types, resolution text and “I was wrong” without a bank rail. Play-money / community credit is not a Kalshi substitute. If a ranking site lists Manifold as a “best real-money alternative,” that site is chasing a keyword. We will not. Use it, then graduate to a venue whose custody model you actually wanted. Review: Manifold. Start guide: how to start.
4. ForecastEx — the other US DCM, not a clone
ForecastEx is the second CFTC designated contract market we will name for US cash event-contract research. That is the only reason it sits here. Catalog and UX still trail Kalshi for most people who want a first account. Treat it as a second look for economy and macro themes, not as “Kalshi 2.” KYC applies. We do not publish a live fee table; use the venue schedule and fees comparison. Review: ForecastEx.
5. Azuro — sports-crypto only
Azuro is a protocol plus front-ends, not a US cash exchange. It is on this alternatives list for one intent: you left Kalshi because you wanted on-chain sports liquidity. Llama TVL for Azuro in our 8 Sep dump was about $1.30 million — orders of magnitude under Polymarket International. That does not kick it off the sports conversation. Protocol design and sports books are the job of the Azuro review and Azuro vs SX Bet. It does kick it off the “replace my DCM” conversation. If you are in the US and wanted cash sports, read the circuit-split briefing before you assume Kalshi sports is even the product you still have.
Names we will not add this month
Predict Fun is on the watchlist because DefiLlama showed $11.3M TVL and our catalog was missing the string. It is a BNB/Blast board with Venus/UMA/Privy in the public notes. That is not a Kalshi alternative. Why the watchlist stub exists. Rain’s $29.6M Llama row still does not mint a review. SX Bet belongs on sports-crypto compares, not as a silent #6 here. Smarkets belongs on UK (UKGC exchange), not as a US DCM understudy.
Quick comparison
| Platform | Job on this page | KYC | Custody | Not this |
|---|---|---|---|---|
| PredictIt | US politics depth | Required | Cash / account | A Kalshi clone |
| Polymarket | Global crypto events | Wallet / regional | Crypto | A US DCM |
| Manifold | Practice | Account | Play / community | Real-money cash |
| ForecastEx | Second US DCM | Required | Cash / account | Kalshi’s UI |
| Azuro | Sports crypto | Low / regional | Crypto / protocol | CFTC cash sports |
Also compare Kalshi vs PredictIt and Polymarket vs Kalshi. Fees and exit cost: fees and risk. Country start: USA · UK · EU.
Sources and last check
Last desk pass: 9 September 2026. We checked the live opinions against CNN (2 Sep), Bloomberg Law on the Ninth Circuit, Kalshi’s public fee schedule, Polymarket’s fee article, PredictIt terms, CFTC DCM framing on our Kalshi/ForecastEx reviews, and our 8 Sep DefiLlama snapshot. We did not re-trade every book.
- CNN — NJ Supreme Court petition ↗
- Kalshi fee schedule ↗
- Polymarket trading fees ↗
- PredictIt terms ↗
- CFTC ↗ — confirm DCM status on the venue, not on a blog
- Gamma Score weights · Circuit-split briefing
FAQ
What is the best Kalshi alternative for politics?
PredictIt is the usual politics specialist to compare next for US users. It is not a Kalshi substitute: position limits and product scope are tighter. Read Kalshi vs PredictIt before you treat the mids as interchangeable.
What if I want crypto markets instead of Kalshi?
Polymarket is the main global crypto event-board benchmark where its terms allow access. Azuro and SX Bet are the sports-liquidity names to compare next. None of those is a CFTC designated contract market.
Is ForecastEx a Kalshi alternative?
ForecastEx is the other US event-contract research route on our list — another CFTC designated contract market, not a crypto wallet board. Catalog and UX still trail Kalshi for most beginners, so treat it as a second look, not a clone.
Is Azuro a Kalshi alternative?
Only if you want crypto sports markets instead of US cash event contracts. Azuro is a protocol plus front-ends, not a regulated DCM. Use the Azuro review and the sports list, not the USA CFTC page.
Is Manifold a real-money alternative?
Manifold is a practice and community board. Use it to learn mechanics before a regulated or crypto venue. It is not a cash-contract substitute for Kalshi.
Is Predict Fun a Kalshi alternative?
No. It is a watchlist crypto board with DefiLlama TVL. Different chain, different resolution path, not a DCM. See the watchlist note and the 9 Sep desk briefing.
Did the Ninth Circuit kill Kalshi?
No. It split with the Third Circuit on sports event contracts and state power. Cash DCMs still exist. Sports access is the map. Read the circuit-split briefing; this page does not replace a lawyer.