20 Best Polymarkets Alternatives: Alternative Prediction Sites

In this article, I will discuss the best Polymarkets alternatives. While Polymarket offers a popular platform for event-based predictions

There are several other decentralized platforms that provide unique features, lower fees, and a wider range of market options. Exploring these alternatives can help you find the best prediction markets suited to your needs and preferences.

Key Point & Best Polymarkets Alternatives List

Platform	Key Points
Augur	Decentralized prediction market platform; uses Ethereum for smart contracts; community-driven.
DoubleDown Interactive	Online social casino; offers virtual gaming and betting experiences; focuses on user engagement.
Thales	Decentralized options trading platform; allows users to create and trade binary options.
PredX Ai	AI-driven prediction platform; offers advanced analytics and forecasting for markets.
Azuro	Decentralized betting protocol; aims to create decentralized, trustless sportsbooks.
ZenSports	Peer-to-peer sports betting app; allows users to create bets without a bookmaker.
DuelNow	P2P betting platform; users can challenge others to bet on various events and games.
Venue One	Decentralized betting marketplace; focuses on real-world and fantasy sports betting.
PredictIt	Political prediction market; users bet on the outcomes of political events and elections.
BetMoose	Peer-to-peer sports betting; offers decentralized betting without traditional bookies.
Omen	Decentralized prediction market on Ethereum; uses a unique staking mechanism for outcome prediction.
Veil	Decentralized betting platform; users can bet on a wide variety of events with high transparency.
PlotX	Blockchain-based prediction markets platform; offers zero gas fees for users.
Market Protocol	Decentralized platform for trading prediction markets on Ethereum; utilizes smart contracts.
Hedget	Decentralized options trading platform; allows users to hedge and trade options with synthetic assets.
Horizon State	Blockchain-based voting and decision-making platform; used for political and corporate governance.
Stably	Stablecoin platform focused on providing transparent, fully collateralized digital assets.
TapX	Blockchain-based prediction markets; focused on providing access to decentralized finance products.
Alchemy Exchange	Decentralized prediction markets; allows users to trade and bet on real-world events.
BitPrediction	Prediction markets based on cryptocurrency events and trends; allows users to bet on Bitcoin’s future.

20 Best Polymarkets Alternatives

1.Augur

Augur is perhaps one of the best alternatives to Polymarkets. Augur is a prediction market built on the blockchain which allows users to set up and trade in markets based on real-world events.

In contrast to Polymarket, Augur has absolute decentralization and therefore more control and transparency for users. This is an excellent option for those who enjoy betting in a decentralized manner.

Pros And Cons Augur

Pros of Augur:

1. Fully decentralized platform with no central authority.
2. Allows creation of custom markets for any event.
3. Transparent and secure, built on Ethereum blockchain.
4. Wide range of event categories for prediction.
5. Low fees due to decentralized nature.

Cons of Augur:

1. User interface can be complex for beginners.
2. Limited liquidity compared to centralized platforms.
3. High gas fees during network congestion.
4. Slow transaction times during high network traffic.
5. Requires ETH for gas, making it less user-friendly for non-crypto users.

2.DoubleDown Interactive

One of the best Polymarkets alternatives is DoubleDown Interactive. DoubleDown Interactive is focused on virtualcasino gaming and betting as a social experience. So unlike Polymarket’s prediction markets,

DoubleDown is focused on a more fun experience since the user plays different types of casino-style games which is a completely different offering for users not wanting to predict events.

Pros And Cons DoubleDown Interactive

Pros of DoubleDown Interactive:

1. Offers a wide variety of virtual casino games.
2. User-friendly interface with easy navigation.
3. Provides a social gaming experience with friends.
4. Available on multiple platforms, including mobile devices.
5. Regular promotions and bonuses for players.

Cons of DoubleDown Interactive:

1. Real money gambling is not allowed.
2. Limited withdrawal options for virtual credits.
3. May encourage excessive in-game purchases.
4. Does not offer traditional sports betting options.
5. The focus is more on entertainment than actual winnings.

3.Thales

Thales is certainly among the best Polymarkets alternatives. Thales is a decentralised options exchange operating on Ethereum, which allows users to create and trade binary options on any underlying asset.

More importantly, unlike the event markets of Polymarket, Thales focuses on the options and derivatives market, hence provides prediction markets in a much more financialized way.

Pros And Cons Thales

Pros of Thales:

1. Decentralized platform with secure options trading.
2. Built on Ethereum, ensuring transparency and trustlessness.
3. Allows for customizable markets and trading terms.
4. Offers exposure to a variety of assets, including cryptocurrencies.
5. Provides the ability to hedge against market risks.

Cons of Thales:

1. High gas fees during network congestion can reduce profitability.
2. Complex user interface that may be difficult for beginners.
3. Limited liquidity compared to centralized exchanges.
4. Requires users to have a good understanding of options trading.
5. May have slower transaction times due to decentralized nature.

4.PredX Ai

Some like PredX Ai as one other currency alternative for Polymarkets. PredX Ai uses artificial intelligence for advanced market forecasting and only uses data.

It does not employ arbitrary event-betting as Polymarket, rather, PredX Ai uses AI and data insights to determine future events hence, people looking for centered approach will easily fit in.

Pros And Cons PredX Ai

Pros of PredX Ai:

1. Utilizes AI-driven predictions for accurate market forecasting.
2. Offers a unique data-centric approach to prediction markets.
3. Provides real-time insights for users to make informed decisions.
4. Covers a wide range of market categories, including crypto and stocks.
5. Helps users identify trends and potential market movements.

Cons of PredX Ai:

1. Limited availability of data for some niche markets.
2. Relies on AI algorithms, which may not always be accurate.
3. Requires a subscription or access fee for full features.
4. May not be suitable for users preferring traditional prediction models.
5. Complexity of AI-based predictions might be overwhelming for beginners.

5.Azuro

Azuro is quite qualified as an alternative Polymarkets. Azuro is a decentralized open-market betting model allowing anyone to create and wager on sports betting markets.

Azuro specializes in establishing decentralized sportsbooks instead of Polymarket which is centraon on betting prediction markets. This creates more options for user wanting honest, trustless , and decentralized sportsbook products.

Pros And Cons Azuro

Pros of Azuro:

1. Decentralized betting protocol with a focus on transparency.
2. Allows users to create and participate in sports betting markets.
3. Uses blockchain to ensure fairness and security of bets.
4. Provides an open-source framework for decentralized betting platforms.
5. Low transaction fees due to the use of Ethereum layer-2 solutions.

Cons of Azuro:

1. Limited adoption compared to more established betting platforms.
2. Requires users to have some knowledge of blockchain technology.
3. Sports betting options are not as diverse as traditional bookmakers.
4. Dependent on Ethereum’s scalability and gas fees.
5. Liquidity issues may arise in less popular betting markets.

6.ZenSports

ZenSports is one of the best Polymarkets alternatives that we recommend. ZenSports is a peer-to-peer sports betting network where users can create and accept bets on sporting events.

While Polymarket uses market mechanism, Zensports focuses on betting without a conventional bookmaker which provides sports users with an easy to utilize decentralized service model.

Pros And Cons ZenSports

Pros of ZenSports:

1. Peer-to-peer sports betting platform with decentralized features.
2. Allows users to create custom bets on various sports events.
3. Offers a wide range of sports, including niche markets.
4. Supports both fiat and cryptocurrency transactions.
5. Provides a user-friendly mobile app for easy access.

Cons of ZenSports:

1. Availability may be restricted in certain countries due to regulations.
2. Limited options for in-play or live betting.
3. Can experience delays in bet settlements during high traffic.
4. Lacks some traditional betting features found in larger sportsbooks.
5. Users may face liquidity issues in less popular markets.

7.DuelNow

DuelNow is considered one of the most reliable competitors to Polymarkets. DuelNow is a peer-to-peer gambling site that enables users to challenge others regarding different events.

Polymarkets works more by making predictions about the result of an event, unlike DuelNow which allows users to do the boring part of creating a bet and bringing a competitive atmosphere to the bettors that prefer to be aggressive and competitive.

Pros And Cons DuelNow

Pros of DuelNow:

1. Offers a unique head-to-head betting model with peer-to-peer wagers.
2. Allows users to create personalized markets for any event.
3. Provides a transparent, decentralized platform for betting.
4. Supports cryptocurrency payments for secure transactions.
5. Provides fast and efficient payouts to users.

Cons of DuelNow:

1. Limited market variety compared to traditional sportsbooks.
2. May have lower liquidity in niche betting categories.
3. High gas fees could reduce the profitability of small bets.
4. Requires users to have knowledge of cryptocurrency wallets.
5. Relatively new platform with less established user base.

8.Venue One

As one of the best alternatives to Polymarkets, Venue One offers a more extensive selection of betting opportunities. Venue One is a decentralized betting market that offers real and fantasy sports betting.

Unlike Polymarkets which predict events, Venue One does a good job of allowing users to bet on different sports and events in a decentralized platform.

Pros And Cons Venue One

Pros of Venue One:

1. Decentralized platform for event-based predictions and betting.
2. Offers a wide range of markets including sports and entertainment.
3. Transparent, blockchain-based system ensuring secure transactions.
4. User-friendly interface with easy navigation for beginners.
5. Fast transaction times and low fees through blockchain technology.

Cons of Venue One:

1. Limited liquidity on less popular prediction markets.
2. May have fewer event categories compared to large, centralized platforms.
3. Requires a cryptocurrency wallet for transactions.
4. Dependent on Ethereum network, subject to gas fee fluctuations.
5. Newer platform with less established reputation in the market.

9.PredictIt

PredictIt is one of those platforms which are best regarded as Alternatives to Polymarkets. PredictIt prides itself as a political prediction market where bettors take odds on the outcome of elections and other political events.

Unlike Polymarket’s wider approach of betting on any type of events, PredictIt focuses n political only and enables the desire to place a bet on political happenings as they unfold in real time.

Pros And Cons PredictIt

Pros of PredictIt:

1. User-friendly interface for beginners in prediction markets.
2. Offers a wide range of political and financial markets.
3. Regulated in the U.S., providing a sense of security to users.
4. Allows fractional shares for smaller bets and risk management.
5. Easy to withdraw funds via traditional banking methods.

Cons of PredictIt:

1. Restricted to U.S. residents due to regulatory limitations.
2. Limited market options outside political events.
3. Low liquidity in less popular markets.
4. No cryptocurrency options for transactions.
5. Market fees can reduce overall returns for users.

10.BetMoose

BetMoose is one of the standout alternatives to Polymarket. It’s a peer-to-peer platform which allows users to create and place sports bets as well as accept them on various sporting events.

In contrast to Polymarket and its event prediction markets, BetMoose functions on the scope of traditional sports enabling users who want to bet in a challenging environment without regular bookies to participate in the betting much easier.

Pros And Cons BetMoose

Pros of BetMoose:

1. Allows users to create personalized betting markets.
2. Offers peer-to-peer betting for greater flexibility.
3. Features a wide range of market types, including sports and politics.
4. Provides secure, blockchain-based transactions for transparency.
5. Lower fees compared to traditional centralized betting platforms.

Cons of BetMoose:

1. Limited to specific regions due to regulatory restrictions.
2. Smaller user base may result in lower liquidity for certain markets.
3. Requires some knowledge of cryptocurrency for transactions.
4. Can have slow payouts during high-volume events.
5. Newer platform with less market reputation compared to larger competitors.

11.Omen

For those looking for a good Polymarkets alternative, Omen surely stands out. Omen is a decentralized betting exchange constructed atop Ethereum that empowers users to design and speculate on diverse events.

Instead of focusing on specific events like Polymarket, Omen’s approach to market creation is more broad and creative allowing end-users to construct decentralized prediction markets.

Pros And Cons Omen

Pros of Omen:

1. Decentralized prediction market platform ensuring transparency.
2. Offers a wide range of event types, including sports and finance.
3. Supports blockchain technology for secure and fast transactions.
4. Low fees for creating and trading prediction markets.
5. Provides a user-friendly interface for both beginners and experts.

Cons of Omen:

1. Limited liquidity on less popular markets.
2. Requires users to understand decentralized finance and blockchain.
3. Gas fees can increase during network congestion.
4. Smaller user base compared to more established platforms.
5. Limited mobile app functionality compared to larger platforms.

12.Veil

Veil is a prediction market platform that enables users to place bets on actual events in a decentralized manner. In contrast to Polymarket’s prediction markets based around events

Veil lets individual users wager on many different markets with specific provisions. Its decentralized and transparent nature is suitable for those looking for lots of different betting options.

Pros And Cons Veil

Pros of Veil:

1. Decentralized platform ensuring privacy and security for users.
2. Supports both crypto and traditional fiat currencies for betting.
3. Wide variety of prediction markets, including niche events.
4. Offers lower fees compared to centralized alternatives.
5. Provides a transparent and user-governed ecosystem.

Cons of Veil:

1. Limited adoption and smaller user base than major platforms.
2. Complex interface may deter beginners in the prediction market space.
3. Dependent on blockchain technology, which can result in high transaction fees.
4. Regulatory challenges in certain countries limit accessibility.
5. Liquidity can be an issue in less popular markets.

13.PlotX

PlotX touts itself as one of the leading Polymarkets alternatives. PlotX is a prediction market powered by a decentralized blockchain which allows its users to forecast the outcome of certain events and be rewarded for that.

In contrast to the Polymarket platform which encompasses a wide range of events, PlotX has a zero-gas-fee model and fast transactions which boosts the user experience in decentralized wagering.

Pros And Cons PlotX

Pros of PlotX:

1. Decentralized platform offering low-fee prediction markets.
2. Supports real-time event outcomes for quicker settlements.
3. Built on Ethereum, ensuring transparency and security.
4. Allows users to participate in various markets like sports and crypto.
5. Offers a simple, easy-to-use interface for all skill levels.

Cons of PlotX:

1. Liquidity issues may arise in less popular prediction markets.
2. High gas fees during Ethereum network congestion.
3. Limited market options compared to traditional betting platforms.
4. Requires a basic understanding of blockchain technology.
5. Smaller user base leads to less action on niche events.

14.Market Protocol

Market Protocol is undoubtedly one of the best alternatives to Polymarket. Market Protocol is essentially a marketplace for trading prediction markets and options carried out on the Ethereum network.

Market Protocol provides clients with trade functionalities that go beyond simple event predictions which is not the case at Polymarket. The platform is also more secure and better suited for customizing markets.

Pros And Cons Market Protocol

Pros of Market Protocol:

1. Decentralized platform offering customizable prediction markets.
2. Allows users to create and trade on a wide range of assets.
3. Transparent, blockchain-based system ensures fair transactions.
4. Enables hedging and risk management for investors and traders.
5. Lower fees compared to centralized prediction market platforms.

Cons of Market Protocol:

1. Requires technical knowledge to use and set up markets.
2. Limited liquidity in certain markets can affect price discovery.
3. Dependent on Ethereum, which can lead to high transaction costs.
4. Less popular compared to larger, established platforms.
5. Regulatory uncertainty surrounding decentralized prediction markets.

15.Hedget

Hedget is considered one of the Polymarket alternatives. Hedget is a decentralized options trading platform that lets users trade synthetic options on cryptocurrency and other assets.

Unlike Polymarket which centers on event prediction, Hedget has a more financialised approach to cater the ones interested in hedging or speculating with options on the markets.

Pros And Cons Hedget

Pros of Hedget:

1. Decentralized platform offering secure and transparent prediction markets.
2. Allows users to hedge their crypto and traditional assets effectively.
3. Built on Ethereum layer-2 solutions, reducing transaction fees.
4. Provides a simple interface for trading and creating prediction markets.
5. Offers a range of asset classes for diversified risk management.

Cons of Hedget:

1. Requires users to understand blockchain and decentralized finance.
2. Limited market options compared to traditional financial platforms.
3. Smaller user base, resulting in lower liquidity on niche markets.
4. Reliant on Ethereum’s scalability, which can cause delays during high congestion.
5. May face regulatory challenges in certain regions affecting access.

16.Horizon State

Horizon State is rated as one of the most effective Polymarkets alternatives. Horizon State uses the blockchain to help resolve issues by allowing for voting and decision making while stressing on the importance of public participation.

While Polymarket features event betting, in Horizon State every user can participate in a voting process which has been made secure and transparent which makes it more suitable to organizations and communities who are looking for decentralized methods of decision making and elections.

Pros And Cons Horizon State

Pros of Horizon State:

1. Decentralized voting and prediction platform ensuring transparency.
2. Focuses on political and societal prediction markets for informed decision-making.
3. Utilizes blockchain technology to secure and verify results.
4. Provides an easy-to-use interface with accessible market creation tools.
5. Enables greater participation in democracy through decentralized voting.

Cons of Horizon State:

1. Limited market options outside of political predictions.
2. Smaller user base results in lower liquidity for certain markets.
3. May face regulatory hurdles in various regions due to its decentralized nature.
4. Dependent on Ethereum, leading to high gas fees during congestion.
5. Complex for newcomers unfamiliar with blockchain technology.

17.Stably

One of the most recommended Polymarkets alternatives is Stably. Stably is a stablecoin platform where users can have fully-collateralized and transparent digital assets.

Unlike prediction markets in Polymarket that are centered around an event, Stably’s unique offering enables users to access a stablecoin solution that is decentralized. It works on the premise of safe, regulated digital currencies to enable quick transactions.

Pros And Cons Stably

Pros of Stably:

1. Provides a stablecoin-based platform for secure transactions.
2. Facilitates fast and low-cost cross-border payments.
3. Transparent, with blockchain technology ensuring trust and security.
4. Offers scalability for businesses looking to use stablecoins.
5. Supports both traditional and crypto assets for seamless transactions.

Cons of Stably:

1. Limited market options outside stablecoin transactions.
2. Smaller ecosystem compared to larger crypto platforms.
3. Dependence on stablecoins can limit potential market volatility opportunities.
4. Regulatory challenges surrounding stablecoins in various jurisdictions.
5. Less liquidity in less popular cryptocurrencies or tokens.

18.TapX

On the list of good Polymarkets alternatives, we have TapX. TapX is a decentralized prediction market platform that allows users to place bets on various events via the blockchain.

In contrast to the event prediction paradigm of Polymarket, TapX features a more extensive scope of DeFi services, integrating market forecasting with econometric instruments to create a more dynamic betting environment.

Pros And Cons TapX

Pros of TapX:

1. Offers decentralized and secure prediction markets on blockchain.
2. Low transaction fees, especially with layer-2 solutions.
3. Supports a wide range of assets for betting and trading.
4. Provides users with the ability to create personalized markets.
5. Offers fast transaction times for quicker market settlements.

Cons of TapX:

1. Smaller user base, leading to lower liquidity on certain markets.
2. Requires users to have a basic understanding of blockchain technology.
3. Limited to regions with fewer regulatory restrictions on crypto platforms.
4. Can experience slow adoption due to its newer market presence.
5. Dependent on Ethereum, which may lead to high gas fees during congestion.

19.Alchemy Exchange

Spotting Alchemy Exchange as another ideal Polymarkets alternative is easy. This betting site resembles Polymarkets in many aspects – Alchemy Exchange is also a prediction market and a trading platform.

However, it is the future-oriented Alchemy Exchange that stands out among its competitors. In contrast with Polymarkets which is highly event-oriented and apps-based

Alchemy Exchange is a standalone platform providing users with wider variety of trading options. Alchemy Exchange is more of a casino aimed at many different outcomes.

Pros And Cons Alchemy Exchange

Pros of Alchemy Exchange:

1. Offers decentralized prediction markets for various event types.
2. Built on blockchain technology ensuring transparency and security.
3. Provides users with low transaction fees and faster settlements.
4. User-friendly interface catering to both beginners and experts.
5. Supports a variety of cryptocurrencies for easy transactions.

Cons of Alchemy Exchange:

1. Smaller user base, which may result in lower liquidity.
2. Limited market options compared to larger, more established platforms.
3. Dependent on blockchain technology, leading to potential scalability issues.
4. Requires some technical knowledge to fully utilize advanced features.
5. Regulatory uncertainties around decentralized platforms may affect accessibility.

20.BitPrediction

Although there are not many, BitPrediction can definitely be considered as one of the top alternatives for Polymarkets. As a user-oriented decentralized platform

BitPrediction provides users with tools and predictions regarding the price movements of selected cryptocurrencies and a particular trend of selected digital assets.

Yet, while such a model applies to Polymarket, BitPrediction targets more precisely the crypto market, allowing users to speculate on the prices and trends of digital assets alone.

Pros And Cons BitPrediction

Pros of BitPrediction:

1. Decentralized platform providing secure and transparent prediction markets.
2. Supports a wide range of prediction types, including politics and sports.
3. Offers low fees for trading and creating prediction markets.
4. Built on blockchain, ensuring fast and secure transactions.
5. Allows users to easily create personalized prediction markets.

Cons of BitPrediction:

1. Smaller user base, leading to lower liquidity in niche markets.
2. Limited mobile functionality compared to larger platforms.
3. Relies on blockchain, resulting in potential gas fees during congestion.
4. Requires some knowledge of cryptocurrency for transactions.
5. Regulatory challenges in certain regions could limit accessibility.

Why Should You Choose Best Polymarkets Alternatives

Wider Variety of Markets: Alternatives have events and betting that Polymarket doesn’t have, expanding the amount of markets available.

Non-centralized Models: Due to many alternatives being built on blockchain, security and transparency in transactions is done.

Integrations and Partnerships: There are also some alternative solutions that have markets specialized for example on crypto prediction platforms or even sports betting.

Less Transaction Costs: Also some of the alternatives might have lower transaction costs or better incentive structures.

Greater Customization and Control: Some alternatives allow greater customization of prediction markets allowing for more tailored prediction experiences.

Conclusion

As a final thought, the best Polymarkets alternatives are characterized by their specific capabilities, additional types of markets, plus better user convenience.

Be it decentralized exchanges, niche markets, or cheaper commissions, these alternatives have great features which do not exist in Polymarket’s event forecasts. These platforms would help you to discover a prediction market which is better suited to your liking and is more interesting.