Legal US Sportsbooks & Prediction Markets — Live Odds Compared

Every regulated US sportsbook plus the two largest event-contract / prediction markets (Kalshi and Polymarket), in one place. Live odds refresh continuously. Below: brand-at-a-glance table covering founding, regulator, scale, funding and valuation, plus individual review pages and head-to-head comparisons.

Trade on Kalshi →Trade on Polymarket →Sponsored · code SPORTSBOOKISH on Polymarket (iOS)

Brands at a glance

Founded year, regulator, scale, funding, and valuation across every covered brand. All figures best-effort as of 2025-Q4 from public filings, official communications, and third-party trackers.

Brand	Category	Founded	Regulator	Monthly volume	Total raised	Valuation	Review
Kalshi	prediction market	2018	Commodity Futures Trading Commission (CFTC)	~$200M+ (sports + politics combined, peaks during major events)	$50M+ across Series A–C	~$2B (reported, 2025)	Full review →
Polymarket	prediction market	2020	No US regulator (settled with CFTC in Jan 2022; operates outside US jurisdiction)	~$200M+ average; spikes to $1B+ on major political event months	$70M+ across pre-seed, Series A, Series B	~$1B+ (reported Series B; later rounds may be higher)	Full review →
DraftKings	sportsbook	2012	State gaming commissions (varies by state)	Handle of ~$3–4B/month (peak during NFL season)	Public since 2020 — no private rounds since	Market cap typically $15–25B depending on quarter	Full review →
FanDuel	sportsbook	2009	State gaming commissions (varies by state)	Handle of ~$3–4B/month (US); Flutter Group ~$30B+ globally	N/A — parent Flutter is publicly traded since 2002 (FanDuel itself wholly owned)	Flutter market cap ~$30–40B; FanDuel US arm valued internally at $20B+	Full review →
BetMGM	sportsbook	2018	State gaming commissions (varies)	Handle of ~$1.5–2B/month	JV-funded — MGM + Entain each committed $450M initial capital	Entain has previously valued its 50% stake at ~$5B	Full review →
Caesars	sportsbook	2021	State gaming commissions	Handle ~$800M–$1B/month	Public since 1973 — current entity post-Eldorado merger 2020	Market cap typically $5–10B	Full review →
Fanatics	sportsbook	2023	State gaming commissions	Handle ~$300–500M/month (rapid growth)	Fanatics Inc. has raised $4B+ in venture (multiple rounds)	Fanatics Inc. valued at $31B (Dec 2022 round)	Full review →
BetRivers	sportsbook	2018	State gaming commissions	Handle ~$400–600M/month	Public via SPAC merger 2020	Market cap typically $1–3B	Full review →
Circa Sports	sportsbook	2019	Nevada Gaming Control Board + state gaming commissions (CO, IA, IL, KY)	Undisclosed (private); reportedly $50–100M/month handle	N/A — privately held by the Stevens family	N/A — private	Full review →

Regulated US Sportsbooks

DraftKingsBroad

Live in 25+ states

Edge: Industry-leading SGP (same-game parlay) market, deepest player-prop tree in MLB and NBA.

Review + live odds →

FanDuelBroad

Live in 25+ states

Edge: #1 US market share by revenue. Strong NFL/NBA totals & spreads. Best-in-class UX.

Review + live odds →

BetMGMBroad

Live in 28 states

Edge: Strong NCAAF/NCAAB lines. MGM rewards tie-in (comps + Vegas perks).

Review + live odds →

Caesars SportsbookBroad

Live in 25+ states

Edge: Caesars Rewards integration with the casino loyalty program is the best comps tie-in in betting.

Review + live odds →

BetRiversMedium

Live in 16 states

Edge: iRush Rewards is the most generous loyalty program in regulated US betting.

Review + live odds →

Fanatics SportsbookMedium

Live in 24 states (rapid expansion)

Edge: FanCash rewards convert directly to Fanatics retail credit — unique to apparel buyers.

Review + live odds →

Circa SportsNiche

Nevada (kiosk + app); Colorado, Iowa, Illinois, Kentucky retail

Edge: Highest limits in the regulated US market. Sharp-friendly. Hosts the $14M+ Million contest.

Review + live odds →

Event-Contract Exchanges

KalshiExchange

All 50 states (CFTC-regulated event contracts)

Edge: CFTC-regulated event-contracts exchange — sports markets as event contracts, not 'bets'. No vig in the traditional sense; spread is bid/ask.

vs DraftKings vs FanDuel vs BetMGM vs Caesars Sportsbook vs BetRivers vs Fanatics Sportsbook vs Circa Sports

PolymarketExchange

Operates US after legal reentry mid-2025

Edge: Largest crypto-rails prediction market by volume. Sports verticals growing fast post-relaunch.

vs DraftKings vs FanDuel vs BetMGM vs Caesars Sportsbook vs BetRivers vs Fanatics Sportsbook vs Circa Sports

Head-to-Head Comparisons

Every pair of regulated US sportsbooks compared on live odds.

FAQ

Which legal US sportsbook has the best odds?

No single book leads on every market. On major-league game lines (MLB, NBA, NFL, NHL) DraftKings and FanDuel typically lead market depth; BetMGM and Caesars often lead promo-adjusted EV; Circa leads sharp-friendly limits in Nevada with no winner limiting. SportsBookISH live-compares all of them on every event so you can pick per-bet rather than committing to one book.

How does Kalshi compare to traditional sportsbooks?

Kalshi is a CFTC-regulated event-contracts exchange (legal in all 50 US states) — sports markets trade as YES/NO contracts at user-set prices, not at house-set vigged odds. On major-league moneylines Kalshi mid-prices typically beat the sportsbook no-vig fair line by 2-8 percentage points; the gap widens on futures and player props. Kalshi also doesn't limit winning users the way DraftKings/FanDuel do.

Is Polymarket legal in the US?

Officially, no. Polymarket settled with the CFTC in January 2022 and geo-blocks US users, operating internationally under its Cayman Islands entity. The platform remains the largest prediction market by global volume (~$8B in 2024), but US users are excluded. For legal US event-contract trading, use Kalshi.

Why do you only show 8 sportsbooks?

SportsBookISH only names regulated US sportsbooks operating under state gaming licenses. Offshore brands (Bovada, BetOnline, MyBookie, etc.) contribute to the consensus median anonymously as 'Other' but are never named — their use in the US is unregulated and Vault Network / regulated affiliate programs explicitly forbid co-promotion. We track 7 US sportsbooks (DraftKings, FanDuel, BetMGM, Caesars, BetRivers, Fanatics, Circa) plus Kalshi and Polymarket exchanges.

Which US sportsbooks accept the highest limits?

Circa Sports — by published policy, Circa does not limit winning bettors and routinely accepts $25k+ on NFL sides. DraftKings, FanDuel, BetMGM, and Caesars all limit sharp users (typically after $5k–$10k in net winnings over a season). Kalshi has no per-account limits — only orderbook depth constrains size.

Which sportsbook has the best new-user promo?

Promos rotate constantly and vary by state. As of late 2025: Caesars offers a $1,000 first-bet match (refund as bonus bets if your first bet loses). DraftKings and FanDuel both run "bet $5, get $200 in bonus bets" promos in most states. Fanatics offers "$100 in bonus bets per day for 10 days" for new users. BetMGM runs a $1,500 first-bet offer in many states. Always check directly — terms change weekly.

What's the difference between an event-contract exchange and a sportsbook?

A sportsbook (DraftKings, FanDuel, etc.) sets its own prices and takes the opposite side of every bet — they make money on the vig (built-in margin, typically 4–5% on moneylines). An event-contract exchange (Kalshi, Polymarket) is a peer-to-peer marketplace where users buy/sell YES/NO contracts against each other; the platform doesn't take a position. Result: exchange pricing is structurally cheaper (no vig, just bid/ask spread) but liquidity can be thinner on niche markets.