Webull Prediction Markets: How to Trade Them (2026)

Last updated October 24, 2026. By Stock Moe, former financial advisor, MBA and finance teacher.

Disclosure: Some links on this page are affiliate links. If you open an account through them, Stock Moe gets paid by Webull or Kalshi at no extra cost to you. I only link to products I use myself. This is not financial advice.

Webull prediction markets let you buy yes or no event contracts on sports, crypto, economic numbers and other outcomes right inside the Webull app, and each contract pays $1 if you are right and $0 if you are wrong. The contracts come from Kalshi, a federally regulated exchange, and Webull says the cost is 2 cents per contract to open and 2 cents to close, with no fee at settlement, as of October 24, 2026. There is no minimum balance, but the money comes out of your Webull brokerage cash, and you can lose everything you put into a contract.

I have used Webull for my own trading for years, and I check prediction market odds almost every day for my videos. When Webull put event contracts next to stocks and options, the first question in my comments was simple: how do I actually do this, and what does it cost? This guide walks through it step by step, using Webull’s own help pages that I opened today. If you are brand new to event contracts, my guide on how Kalshi works explains the basics, because Webull’s markets are Kalshi’s markets.

Key takeaways

Webull prediction markets are event contracts listed on Kalshi, a CFTC designated contract market. Webull announced the partnership on February 12, 2025.
Every contract settles at $1 if the event happens and $0 if it does not. The price is the market’s implied probability, not a promise.
Webull lists the total fee as $0.02 per contract to open and $0.02 per contract to close. Holding to settlement avoids the closing fee.
There is no minimum balance. Funds sweep from your linked individual brokerage account, and contracts are fully funded when you buy, so your loss is capped at what you paid plus fees.
The mobile app has every event contract. Desktop only carries index and crypto hourly contracts as of October 24, 2026.
Event contract accounts are not protected by SIPC, and some states push back on sports contracts. Webull stopped offering sports contracts in Connecticut in October 2026, according to DeFi Rate.

What are Webull prediction markets?
Is Webull using Kalshi?
How to trade event contracts on Webull, step by step
How much do Webull prediction markets cost?
A real example with the math
The rules and limits to know first
Webull prediction markets vs Kalshi vs Robinhood
Can you trade futures on Webull?
My rules for trading event contracts
Common questions

What are Webull prediction markets?

A prediction market is a market where the thing you buy is an outcome. Will the S&P 500 close above a certain level this hour? Will a team win tonight? Will Bitcoin be above a price at a set time? You pick Yes or No. If your side happens, each contract pays $1. If it does not, it pays $0.

The price tells you what the crowd thinks. A contract trading at 30 cents means buyers and sellers, taken together, put the chance at about 30%. Webull says it plainly in its help center: the price reflects the market’s implied probability but does not guarantee the outcome. That one sentence is the whole game. You are not betting against the house. You are trading against other people, and the price moves as news comes in.

On Webull’s prediction markets page on October 24, 2026, the categories listed were Sports, Crypto, Financials, Economics, Culture, Climate, and Science and Tech. Webull markets them as trading around the clock, but hours depend on the contract, so check the rules on each one. You can also exit before the event ends by selling your contracts at the current price, which is something a regular sportsbook ticket will not let you do the same way.

Does Webull have prediction markets?

Yes. Webull calls them Event Contracts in its help center and Prediction Markets on its website. In the app they live under Markets, then Predictions. Index and crypto hourly contracts also show up next to the options chain, so if you trade QQQ or SPY options on Webull you have probably already scrolled past them.

Is Webull using Kalshi for prediction markets?

Yes. On February 12, 2025, Webull announced it had connected to Kalshi to offer event contracts, and its January 27, 2026 release on sports markets again says it offers these markets through a partnership with Kalshi. Kalshi is the exchange. Webull is the broker that routes your order there.

That matters for trust. The CFTC designated KalshiEX LLC as a contract market on November 4, 2020, which puts it under the same federal regulator that oversees futures exchanges. On the broker side, Webull’s prediction markets page lists Webull Futures LLC as a CFTC registered futures commission merchant and member of the National Futures Association.

It also means the odds you see on Webull and on Kalshi come from the same order book family, so the prices should line up closely. If you want the deeper story of how the exchange itself works, how it makes money and how settlement is decided, read What Is Kalshi and How Does It Work? A $25 Walkthrough.

How to trade event contracts on Webull, step by step

Here is the exact flow Webull lays out in its help pages, in the order I would do it the first time. It takes about five minutes if your brokerage account is already open and funded.

How to trade prediction markets on Webull, using the steps in Webull’s help center as of October 24, 2026.

Open or activate your Events account
New users sign up for Webull. If you already have a Webull account, activate the Event Contract account from your profile. It links to your individual brokerage account.
Fund your brokerage account
There is no minimum balance for event contracts. You need enough settled cash in the linked brokerage account to cover the contract price and the fees. Money sweeps over automatically when you buy.
Find the market
On mobile, go to Markets, then Predictions, or search by event name, keyword or ticker. On desktop, open a chart of the underlying and use Event Mode or the Events widget. Desktop only has index and crypto hourly contracts.
Read the rules
Open the contract and check the exact condition, the official data source, and the dates and times. The rules decide who gets paid, not the headline.
Pick Yes or No and build the order
Choose Buy, then Yes or No. Pick a Quick Order or a Limit Order, enter the number of contracts or a dollar amount, and set the time in force.
Check the confirmation screen
Webull shows your Event buying power, the average price, the estimated total including fees, the fee breakdown and your payout if you are right. Confirm only if every line matches what you meant.
Exit early or hold to settlement
Sell to close any time the market is open, or hold until the event settles. A winning contract pays $1 and the cash sweeps back to your brokerage account.

Two small things from the help page catch new traders. First, you can only sell contracts you already own, because Webull does not support sell to open on event contracts. If you think something will not happen, you buy No instead. Second, Webull does not support combos or parlay style orders on event contracts, so every position is a single outcome.

Want to try it on Webull? Open a Webull account through my link (affiliate link, I get paid if you sign up). Any new account promotion is subject to Webull’s current terms and eligibility, so read the offer page for the current terms before you deposit. Event contracts are speculative and you can lose the full amount you pay.

How much do Webull prediction markets cost?

Webull’s Event Contract Fees help page spells it out: a $0.01 commission per contract plus a $0.01 exchange fee per contract, for $0.02 per contract, charged when you open and again when you close. Buy 100 contracts and you pay $2.00 in fees on top of the contract prices. Sell those 100 before the event ends and you pay another $2.00 out of the proceeds.

Webull’s commissions and fees schedule, last updated July 30, 2026, labels the same 2 cents a little differently: $0.00 commission, a $0.01 clearing fee and a $0.01 regulatory and exchange fee per contract. Either way the total lands at 2 cents per contract per side. Three things cost nothing: settlement, which neither Webull nor Kalshi charges for, real time event contract quotes, and orders that are canceled, rejected or never fill.

Bar chart of Webull prediction markets fees versus Kalshi: buying 100 contracts costs 2 dollars in fees on Webull at any price, versus 1.75 dollars at 50 cents, 1.32 dollars at 25 cents and 63 cents at 10 cents on Kalshi direct — Fee to buy 100 contracts. Webull from its Event Contract Fees page; Kalshi from its taker fee formula in the fee schedule dated July 7, 2026.

How does that compare to opening an account on Kalshi directly? Kalshi’s fee schedule dated July 7, 2026 uses a formula instead of a flat fee: 0.07 times contracts times price times one minus the price, rounded up to the next cent, charged when your order fills right away. That works out to $1.75 on 100 contracts at 50 cents and $0.63 at 10 cents, and resting limit orders that fill later pay no fee on most Kalshi markets. I break the formula down in Kalshi Fees, Withdrawals and Taxes Explained.

So the honest answer is that Webull’s flat 2 cents is a little more than Kalshi’s fee on most trades, and the gap is biggest on cheap long shots. What you get for it is one app, one login and one cash balance for your stocks, options, futures and event contracts. For a few trades a month that difference is pocket change. For someone trading hundreds of contracts a day, it adds up, and Kalshi direct with limit orders is cheaper.

A real example with the math

Say an economic contract asks whether a number will come in above a certain level, and Yes trades at 60 cents. This is a math example, not a pick.

Buy 40 Yes contracts at 60 cents on Webull. Cost $24.00. Fees 40 times 2 cents, $0.80. Total $24.80.
If Yes wins and you hold to settlement: you collect $40.00 with no settlement fee. Profit $15.20.
If the price rises to 70 cents and you sell early: proceeds $28.00 minus $0.80 in fees is $27.20. Profit $2.40.
If No wins: the contracts pay $0 and the full $24.80 is gone.
Same trade on Kalshi direct as a taker: 0.07 times 40 times 0.60 times 0.40 is $0.672, rounded up to $0.68 to open.

Notice where the money is made and lost. The fee is small next to the swing in the contract itself. The real risk is being wrong, and a 60 cent favorite still loses about four times in ten if the price is fair.

The rules and limits to know before your first trade

Who can trade, and in which states?

You need a Webull individual brokerage account to link the Event Contract account to, which means being a US adult who passes Webull’s account opening. State rules are moving fast. On October 8, 2026, DeFi Rate reported that Webull, Gemini and ProphetX had stopped offering sports event contracts in Connecticut after the state’s Department of Consumer Protection said those markets broke its gambling laws. Webull’s sports release says availability and features may vary by jurisdiction, so check what the app shows you before you plan around a market.

What is the most you can lose?

Webull says event contracts are fully funded at purchase, and unrealized losses never require you to add money. Since you cannot sell to open, the most you can lose on a position is what you paid for it plus fees. That is different from futures and short options, where losses can run past your deposit.

Is my money protected?

Not the way your stocks are. Webull’s prediction markets page states that event contract accounts are not protected by SIPC. Idle cash in a linked cash account in Webull’s cash management program can still earn interest, but open positions do not.

Mobile versus desktop

The mobile app carries every event contract Webull offers. As of October 24, 2026, desktop supports only index and crypto hourly contracts, which sit next to the options chain and under Predictions in the Markets tab.

Webull prediction markets vs Kalshi vs Robinhood

All three put you into federally regulated event contracts. The differences are in fees, market selection and convenience.

Webull: Kalshi markets inside a full brokerage app. Flat 2 cents per contract per side. Categories on October 24, 2026: Sports, Crypto, Financials, Economics, Culture, Climate, and Science and Tech. No combos.
Kalshi direct: the exchange itself, with the widest menu, including the election markets. Fee by formula, often under 2 cents, and no fee on most resting limit orders.
Robinhood: per its June 4, 2026 newsroom post, Robinhood routes event contracts to KalshiEX, ForecastEx or Rothera, a new exchange from its joint venture with Susquehanna. Since June 1, 2026 its commission varies by price and size and never exceeds 1 cent per contract, with exchange fees on top.

How do Robinhood prediction markets work, then? The same yes or no, $1 or $0 model. The main practical difference is that Robinhood may route to more than one exchange, while Webull uses Kalshi. I will go deeper on that matchup in a full comparison page.

Here is how I use them. If I want a quick crypto or index hourly view, or a sports or economics contract while I am already in my brokerage app, Webull is the easy button. Politics was not in Webull’s category list on October 24, 2026, so for the House and Senate markets in my Kalshi midterms guide I go straight to Kalshi.

Pick the one that fits you. If you want everything in one brokerage, start with Webull through my link (affiliate link, I get paid if you sign up). If you want the full Kalshi menu and limit order pricing, open a Kalshi account through my link (affiliate link, I get paid if you sign up). Any offer on either is subject to that company’s current terms and eligibility, so check the offer page before you deposit. Kalshi is available only where it operates and only to adults. Trade only money you can afford to lose.

Can you trade futures on Webull?

Yes. Futures on Webull are offered by Webull Futures LLC, and you open a separate futures account from inside the app and move money into it from your individual account. Webull’s futures offer page asks for an initial deposit of at least $100 into the futures account.

Webull’s commissions schedule, last updated July 30, 2026, lists $1.00 per contract to open and $1.00 to close on standard futures, and $0.75 each way on micro futures. Exchange and regulatory fees can apply on top. The bigger point is risk: Webull’s futures FAQ says futures trading involves substantial risk, losses can exceed the money you deposit, and futures accounts are not protected by SIPC.

How to trade futures on Webull, in short: open the futures account, transfer cash from your individual account, pick a micro contract while you learn, read the contract size and margin before you click, and always use a stop. Event contracts cap your loss at what you paid. Futures do not. That is why I tell beginners to learn on event contracts or fractional shares before they touch leverage.

My rules for trading event contracts

Read the rules before the price. The settlement source and the exact wording decide who gets paid.
Size it like a lottery ticket you can live without. I keep any single event to a small slice of my trading money, because a 70 cent favorite still loses three times in ten.
Use the odds as information first. Most days I use these prices to check my own view on the market or the Fed, not to place a trade.
Hold to settlement when you can. On Webull that saves the closing fee of 2 cents a contract.
Never chase. If the price ran away from you, let it go. There is always another market tomorrow.

I talk through how I use market odds every week in my free Sunday Letter, which lands every Sunday morning.

Common questions

Does Webull have prediction markets?

Yes. Webull offers event contracts, which it also calls prediction markets, in its app under Markets, then Predictions. The contracts are listed on Kalshi, a CFTC designated contract market, through a partnership Webull announced on February 12, 2025.

How do prediction markets work?

You buy a Yes or No contract on an outcome. If your side happens, each contract pays $1. If not, it pays $0. The price, from 1 cent to 99 cents, reflects the market’s implied probability, and you can sell before the event ends at the current price.

How much does Webull charge for event contracts?

Webull lists $0.02 per contract to open and $0.02 per contract to close, made up of a 1 cent commission and a 1 cent exchange fee on its help page. There is no settlement fee, so holding a position to settlement avoids the closing fee.

Is there a minimum to trade prediction markets on Webull?

No. Webull says there is no minimum balance. You need enough settled cash in your linked individual brokerage account to cover the contract price and fees.

Are prediction markets gambling?

Federally, Kalshi’s contracts are regulated by the CFTC as event contracts on a designated contract market, not as sports betting. Some states disagree about sports contracts. Connecticut told operators in September 2026 that sports event contracts violate its gambling laws, and Webull stopped offering sports contracts there, according to DeFi Rate on October 8, 2026.

What prediction markets are legal in the US?

Kalshi has been a CFTC designated contract market since November 4, 2020. Robinhood says it routes event contracts to KalshiEX, ForecastEx and Rothera, all CFTC regulated. Availability of some contracts, especially sports, still varies by state.

How do Robinhood prediction markets work?

The same way: Yes or No contracts that pay $1 or $0. Robinhood routes orders to KalshiEX, ForecastEx or Rothera, and since June 1, 2026 its commission never exceeds 1 cent per contract, plus exchange fees that vary by exchange.

How are prediction markets taxed?

The tax treatment of event contract gains is not settled, and Webull’s event contract pages do not spell it out. Keep your trade confirmations and statements and talk to a tax professional. I cover what Kalshi provides at tax time in my Kalshi fees and taxes guide.

Can you trade futures on Webull?

Yes, through Webull Futures LLC. You open a futures account, transfer at least $100 from your individual account per Webull’s futures offer page, and pay $1.00 per contract each way on standard futures or $0.75 on micro futures under the schedule updated July 30, 2026. Losses can exceed your deposit.

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Sources

Webull, Prediction Markets, accessed October 24, 2026
Webull Help Center, Trading Event Contracts, accessed October 24, 2026
Webull Help Center, Event Contract Fees, accessed October 24, 2026
Webull Help Center, Common Questions About Event Contracts, accessed October 24, 2026
Webull, Commissions and Fees schedule, last updated July 30, 2026
Webull Help Center, Futures FAQs, accessed October 24, 2026
Webull, Futures offers page, accessed October 24, 2026
Webull press release, Webull connects to Kalshi, February 12, 2025
Webull press release, sports prediction markets, January 27, 2026
CFTC, designation of KalshiEX LLC as a designated contract market, November 4, 2020
Kalshi Fee Schedule, effective July 7, 2026
Robinhood Newsroom, World Cup trading on Robinhood and Rothera, June 4, 2026
DeFi Rate, Gemini, ProphetX, Webull limit contracts in Connecticut, October 8, 2026

I am not a financial advisor and nothing in this article is financial advice. Everything here is my own opinion, for educational and entertainment purposes only. Do your own research and talk to a licensed professional before you make any financial decision.