ExchangeCFTC registered
What is ProphetX? Who runs it, how it’s regulated, and what traders should know
ProphetX is run by ProphetX LLC, a CFTC-designated contract market. The CFTC designated ProphetX LLC, a Delaware company headquartered in New York, a contract market on June 11, 2026.
By Owen Monagan, Founder & CEOUpdated
Illustrative, federal only. See the assumptions.
CFTC says vs. what some states say
ProphetX is federally regulated. Some states argue its sports contracts are gambling that needs a state license.
- 2 states have an order, letter or lawsuit on record about ProphetX.
- Oct 2, 2026, Ohio Casino Control Commission (Ohio): Cease-and-desist letter to Prophet X: stop offering sports event contracts in Ohio and confirm in writing within fourteen days. Source
- Sep 2026, Connecticut Department of Consumer Protection (Connecticut): One of nine cease-and-desist orders to prediction markets announced by the governor’s office, which lists ProphetX. Source
Who gets to regulate sports contracts on a federally registered exchange: only the federal regulator, or the states too? The Court is being asked whether federal commodities law preempts state gambling laws, not whether anyone must stop, and not how the trades are taxed. As of October 30, 2026. ProphetX legal status, state by state
One question, one page.
Each page answers one question from ProphetX’s own documents, dated and sourced.
How ProphetX works.
Who runs it, what it costs and what your account holds, from ProphetX’s documents and the CFTC.
Who runs it and how it’s regulated
ProphetX LLC runs ProphetX, a CFTC-designated contract market.
ProphetX LLC told the CFTC that every contract listed on its exchange will be cleared on a fully collateralized basis by a derivatives clearing organization.
Connect ProphetX: API / File
Paste a ProphetX key and we read your trade history. We never place a trade.
Drop in a ProphetX statement or export. AI reads it and sorts each trade into your year.
Everything else about ProphetX.
Narrower questions, each with its own page.
Questions about ProphetX.
ProphetX LLC runs ProphetX.
The CFTC designated ProphetX LLC, a Delaware company headquartered in New York, a contract market on June 11, 2026.
2 states have an order, letter or lawsuit on record involving ProphetX, as of our last check. Each one is dated and linked to the filing.
ProphetX legal statusTwo ways, both live: connect with an API key, or upload a ProphetX statement or export and AI sorts each trade into your year. Realize reads your history and never places a trade.
There is no IRS guidance for prediction markets, but all income must be reported. Realize explains the options so you can choose for yourself or with one of our licensed CPAs.
Price your ProphetX year every common way.
Connect with an API key or upload a file for a free estimate under each way to file.