Can You Trade Sports Awards Contracts Through Prediction Markets?
Prediction market sites
like Kalshi, Crypto.com, Robinhood, and Polymarket aren’t licensed sportsbooks, so they don’t offer traditional sports betting. Instead, they let you trade event contracts based on real-world outcomes, including sports awards.
These contracts are built around simple Yes/No questions, such as:
- Will a player win MVP?
- Will a player win Defensive Player of the Year?
- Will a player win Rookie of the Year?
Rather than placing a wager, you buy contracts priced between $0.01 and $0.99, with the price reflecting the market’s confidence in that outcome. Another key difference from betting on sports awards is that you can buy or sell your position at any time before the result is announced.
If you hold the contract until the award is announced and your prediction is correct, it pays out $1 per contract. If the prediction is wrong, the contract becomes worthless.
Quick Facts About Sports Awards Prediction Markets
To recap, we’ve provided a brief overview of the core metrics of prediction markets.
Is It Legal to Trade on Sports Awards Through Prediction Markets?
Trading
contracts on sports
is often mistaken for betting on sports, but they’re not the same. Contracts purchased through prediction markets are not classified as sports bets and are regulated differently.
Traditional sports betting is regulated at the state level, which means it’s only legal in certain states. Prediction markets, on the other hand, operate under federal regulation by the Commodity Futures Trading Commission (CFTC). Because of this, prediction markets like Kalshi and Crypto.com can legally offer sports award contracts in all 50 states.
Best Sites for Making Sports Award Predictions
After testing and comparing the leading prediction markets, we’ve rated Kalshi, Robinhood, Crypto.com, and Polymarket as the best options for making sports award predictions.
Kalshi - Legal in All 50 States
Kalshi: Pros & Cons
- Fully CFTC-regulated exchange
- Diverse markets including sports, politics, and economics
- Supports PayPal, Venmo, and Crypto deposits
- Highly rated mobile app for iOS and Android
- Trading fees apply to both makers and takers
- Bank withdrawals can take several business days
Kalshi is the only fully regulated US exchange dedicated exclusively to event contracts. It operates with approval from the Commodity Futures Trading Commission as a designated contract market (DCM).
Kalshi doesn’t allow traditional betting on sports awards. Instead, it offers event contracts tied to those outcomes - and the selection is easily the most comprehensive you’ll find in any prediction market.
In addition to popular markets like NFL and NBA MVP races, as well as Rookie and Defensive awards, you’ll also see more niche offerings. These include college trophies such as the Heisman, Conference Finals MVPs, and more.
Robinhood - Get Up to $200 in Free Reward Stock
Robinhood: Pros and Cons
- Fully regulated via CFTC oversight
- Integrated into the main Robinhood app
- 4 billion+ contracts traded in under a year
- Sports markets are blocked in Maryland, New Jersey, and Nevada
Robinhood launched its prediction markets at the end of 2024. Since then, billions of contracts have already been traded, making it one of the most active markets for event-based derivatives.
This level of activity is a real advantage for traders. High volume usually supports better liquidity, tighter spreads, and faster order execution compared to most competitors.
You can use our link to claim up to $200 in free reward stock as a new user. You can’t use this stock to trade sports award contracts directly, but after a three-day holding period, you’re able to sell it.
From there, you can move the proceeds into your derivatives account to buy event contracts on sports awards and other outcomes.
Crypto.com: Pros & Cons
- Competition-based promotions
- iOS & Android apps
- Minimalist website design
- Beginner-friendly
Crypto.com is best known for its cryptocurrency exchange, but it has recently expanded to include event trading on real-world outcomes, including sports awards.
One standout advantage is the low cost of entry. You can trade sports award contracts starting at just $1. In addition, winning contracts are usually settled within a few hours of the final result. That's much faster than many competitors, where settlement can take days.
Managing positions in the app is also simple. Just open the Predict section to see current market values, along with your unrealized gains or losses, presented clearly on the screen.
Sponsored by Crypto.com – Not investment advice. Trading prediction markets and crypto involves risk, including potential loss of your stake. Consider your risk tolerance before participating. Crypto.com connects U.S. users to CDNA (regulated by CFTC) for derivatives trading. CDNA membership required. Trading may not be suitable for all—you could lose your entire investment plus fees. Past performance doesn't guarantee future results. This is not a solicitation or recommendation to trade.
Polymarket - Re-Launched in the US
Pros and Cons of Polymarket
- Licensed by CFTC
- Covers various real-life events
- Dedicated mobile app
Polymarket is the world’s largest prediction market, offering event contracts on just about everything that attracts public attention - from sports and entertainment to geopolitics, finance, technology, and elections.
There's no such thing as
Polymarket sports betting, but you’ll find award contracts covering major leagues, including the NBA, NFL, and EPL. Popular contract types include Super Bowl winner, NBA champion, MVP, Rookie of the Year, Defensive Rookie of the Year, and Coach of the Year.
Conclusion: Prediction Markets Offer Any Alternative to Betting on Sports Awards
Prediction markets offer a unique way to get involved with sports awards without placing any traditional wagers. Instead of typical sports betting, where prices are set by oddsmakers, you trade contracts directly with other users. The price of each contract rises and falls based on how likely the market believes a specific outcome is.
This gives you more flexibility and control than a typical bet on sports awards. You can buy into a position early, sell out for a profit before results are announced, or hold your contracts until they settle for a payout if your prediction is correct.
If you want to try it out, prediction markets such as Kalshi, Robinhood, Crypto.com, and Polymarket let you trade contracts tied to major sports awards, including MVP, Rookie of the Year, and Coach of the Year. Use one of the links provided to sign up, explore the markets, and start trading sports award contracts today.
Betting on Sports Awards FAQ
🏆 Do Prediction Markets Offer Sports Award Betting?
No. Prediction markets don’t operate as licensed sportsbooks and don’t accept traditional wagers. Instead of placing bets, you trade contracts tied to real-world outcomes like MVP or Rookie of the Year. Your profit comes from buying low and selling high, or holding a contract until it settles if you’re correct.
🤔 How Do Event Contracts for Sports Awards Work?
Each contract is based on a Yes/No question, such as whether a player will win MVP. The price reflects how likely the market believes the outcome is, ranging anywhere from $0.01 to $0.99. If you want to make a profit, you can either sell your contract for a higher price or hold it until settlement. Correct
sports predictions
pay out $1 per contract, while incorrect ones drop to $0.
📜 Is It Legal to Trade Sports Award Contracts?
Yes, trading sports award event contracts is legal in the United States through regulated prediction markets, such as Kalshi, Crypto.com, and Robinhood. These prediction markets operate under federal oversight by the Commodity Futures Trading Commission.
⚖️ What Makes Sports Award Contracts Different from Traditional Bets?
With event contracts, you can sell your position at any time to secure profits or cut losses before results are even known. Prices are not set by oddsmakers, either - they fluctuate based on public perception.
For guidance on responsible trading and risk awareness, the following free official resources are available:
To make sure you get accurate and helpful information, this guide has been edited by
Ryan Leaver
as part of our fact-checking process.
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