Prediction Markets in North Carolina

A prediction market lets you trade event contracts on real-world outcomes. Each contract settles at a value that reflects what actually happened. For North Carolina residents, this is a legal way to engage with the outcomes you follow in a state that has not licensed online sports gambling. On Underdog you take a position on an event, and that position moves in value as the probability of the outcome changes.

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Underdog. Prediction markets are event contracts offered through a federally regulated exchange. They are not sports betting and not a sportsbook. Availability and specific markets vary by state and are not offered everywhere. Must be 18 or older. Trading event contracts involves risk of loss. If you or someone you know has a gambling problem, help is available at 1-800-GAMBLER.

What a Prediction Market Is

A prediction market is a venue where people trade contracts tied to future events. A contract represents a specific outcome, such as whether a named result will occur. When the event resolves, the contract settles at a value that reflects what happened. If the outcome you hold comes true, the contract settles at its full value; if it does not, it settles at zero.

Because the value of each contract tracks a real-world result, prediction markets give you a direct way to express a view on an outcome and to see that view priced by everyone else trading the same contract.

How Prediction Markets Work

Contracts on a prediction market are priced between 0 and 100. That price reflects the market's current read on how likely the outcome is: a contract trading near 70 signals a higher implied probability than one trading near 30. As new information arrives and participants trade, the price moves.

You can open a position and, in many cases, close it before the event resolves. Closing early lets you take a result at the current price rather than waiting for the event to settle. These contracts are regulated as financial derivatives rather than as gambling, and they trade on a federally regulated exchange.

Prices run from 0 to 100 and move with implied probability.
You take a position on an outcome; other participants take the other side.
You can often close a position before the event resolves.
Contracts settle based on the real-world outcome once it is known.

How a Regulated Exchange Is Different

On a prediction market you are not playing against a house. You trade an event contract on an exchange, and its price reflects the market's view of how likely an outcome is. Other participants take the opposite side of your position, and the exchange matches those trades under federal oversight.

That federal regulation is the reason these markets reach a number of states, including North Carolina, that have not licensed online sports gambling. It is important to be measured here: availability varies by state, the specific contracts on offer vary too, and the legal status of these markets is still being contested in some places. Do not assume that any given market is available where you are, and do not treat these contracts as if they were licensed in every state. Confirm what is live in the app for North Carolina before you trade.

Getting Started on Underdog

Getting set up follows a few straightforward steps:

Sign up. Create an account with your basic details.
Verify your identity. Confirm your identity and age. You must be 18 or older.
Add funds. Fund your account through the supported methods in the app.
Choose a market. Browse the available event contracts and open a position on an outcome you want to take.

Before you trade, confirm which markets are live in the app for your state. What is available in North Carolina can differ from what is offered elsewhere, so check the current list inside Underdog rather than assuming a market is open.

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Looking for daily fantasy instead? See our guide to daily fantasy on Underdog, or head back to the BettingInNC homepage.