Webull Prediction Markets Guide 2026
Hourlies, Fed events, fees, and how it stacks up against the competition
Exchange Partner
Kalshi
Availability
U.S. customers
Sports Commission
$0
Exchange Fee
$0.01/contract
Our Take
Webull prediction markets offer a strong option for active traders who want prediction markets integrated with their existing brokerage workflow. The Hourlies product — hourly contracts on S&P 500, NASDAQ, BTC, and ETH — is a unique offering in the market. Kalshi-powered, $0 commission sports, $0.01 per contract (Kalshi) exchange fee, no pattern-day-trading rules. The trade-off is market breadth: Webull deliberately curates its catalog rather than offering Kalshi's full 300+ market universe.
Key Strengths
Trader-first product design
Full Webull charting suite integrated with prediction markets — real-time order book data, custom indicators, and tools built for active traders, not casual bettors.
Unique Hourlies product
Only major platform with hourly equity + crypto contracts. S&P 500, NASDAQ, BTC, ETH — all in one place. Perfect for intraday hedging with no PDT rules.
Integrated brokerage
Trade stocks, options, futures, and prediction markets in one account. Fund using your existing Webull balance. 24M+ registered users already on platform.
Fee-efficient sports trading
$0 (sports contracts) commission on sports contracts — lowest sports trading cost among major platforms. Exchange fee: $0.01 per contract (Kalshi).
Key Considerations
Curated market selection
Webull's catalog is focused on Hourlies, Fed events, and sports. Kalshi direct offers a much broader catalog across politics, weather, entertainment, science, and more.
No API for prediction markets
No public API for event contract trading. For programmatic access — automated strategies, data collection, or algorithmic trading — you need Kalshi directly.
Dependent on Kalshi infrastructure
Webull prediction markets run on Kalshi's exchange. Market listings and settlement rules are governed by Kalshi, not Webull.
Application required
Prediction market trading on Webull requires a separate application through your Webull brokerage account. Approval is required before you can trade.
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Webull + Kalshi: How the Partnership Works
Distribution model & regulatory structure
Webull (BULL (NASDAQ)) entered prediction markets in 2025 through a partnership with Kalshi, the first CFTC-regulated prediction market exchange. The model mirrors Robinhood's approach: Webull provides the trading interface and account infrastructure; Kalshi provides the regulated exchange, clearing, and settlement.
What sets Webull apart is its signature Hourlies — short-duration event contracts that expire every hour on four major instruments: S&P 500, NASDAQ, Bitcoin (BTC), and Ethereum (ETH). Traders can use these to hedge intraday positions, express views on market direction within a single session, or capture volatility around economic data releases — all without the complexity of traditional options.
Trades via Kalshi (CFTC DCM); Webull is the distribution front-end This means every event contract you trade on Webull clears through Kalshi's CFTC-regulated Designated Contract Market (DCM).
Infrastructure: Kalshi Rail
Webull prediction markets run on Kalshi's CFTC-regulated DCM. Kalshi handles exchange operations, clearing, and contract settlement. Webull provides the user interface, advanced charting tools, and brokerage account integration.
Webull Hourlies: The Signature Feature
Hourly contracts on indices & crypto
Hourlies are what distinguish Webull from every other Kalshi distribution partner. The platform currently offers hourly contracts on four instruments — all verified live on webull.com/trading-investing/prediction-markets as of April 2026:
S&P 500
Equity hourly
NASDAQ
Equity hourly
Bitcoin (BTC)
Crypto hourly
Ethereum (ETH)
Crypto hourly
How Hourlies work
Trader use case: Hourlies offer a way to express short-duration directional views on major indices and crypto without margin calls, complex delta management, or options-style greeks. No pattern-day-trading rules apply. You risk only what you pay for the contract — max loss is your cost basis.
Fed Event Contracts
FOMC rate decisions & macro markets
Beyond Hourlies, Webull offers Federal Reserve event contracts — part of its economic indicators market category. These let traders take positions on:
Meeting outcome contracts
Whether the Fed will cut, hold, or raise rates at each FOMC meeting
Annual rate cut markets
Total number of rate cuts expected over the full year
These are especially useful for traders who already track Fed communications and want to express their macro views in a binary, defined-risk format. The contracts trade on Kalshi's regulated exchange, with the same settlement mechanics as all other event contracts.
Sports Prediction Markets — $0 Commission
Lowest-cost sports event contracts
Webull offers sports prediction markets with $0 (sports contracts). This was announced in January 2026 ahead of the NFL Super Bowl — making Webull one of the most cost-effective platforms for sports event contracts.
Fee breakdown
Sports contracts
$0 (sports contracts)
Exchange fee (all)
$0.01 per contract (Kalshi)
Note
$0 commission on sports; exchange fees apply. Total ~$0.02/contract
In plain English: You pay nothing extra to Webull for sports trades. The only cost is Kalshi's small exchange fee — about a penny per contract.
Fee Structure vs. Kalshi Direct
Distribution layer fees compared
Because Webull runs on Kalshi's exchange infrastructure, the underlying contract economics are identical. The key differences are in the distribution layer fees and which markets are available.
| Platform | Commission | Trading Fee (charged at market price) | Sports |
|---|---|---|---|
| Webull | $0 (sports contracts) | $0.01 per contract (Kalshi) | $0 |
| Kalshi Direct | ≤1.75¢/contract (formula-based) | Included in formula | ≤1.75¢/contract |
| Robinhood | $0.02/contract ($0.01 RH + $0.01 Kalshi) | Included | N/A |
| IBKR (ForecastEx) | $0 commission; $0.01/contract exchange fee built into price | $0 commission; $0.01/contract exchange fee built into price | N/A |
Bottom line on fees: For sports contracts, Webull is the best deal — $0 commission plus only the Kalshi exchange fee. For Hourlies and Fed events, the total cost runs approximately Total ~$0.02/contract. Kalshi direct's formula-based fee can be cheaper at extreme probabilities (near 0 or 100¢) but similar in practice for mid-range contracts.
In plain English
Webull follows Kalshi's fee structure. The closer to a coin flip (50/50 odds), the higher the fee — max 1.75 cents per contract. Longshots and near-certainties cost almost nothing. Politics markets are free.
Webull vs. Robinhood vs. Kalshi vs. IBKR
Side-by-side platform comparison
All four platforms offer CFTC-regulated event contracts but serve different audiences. Here's how they compare across the dimensions that matter:
| Feature | Webull | Robinhood | Kalshi | IBKR |
|---|---|---|---|---|
| Exchange / Regulation | Trades via Kalshi (CFTC DCM); Webull is the distribution front-end | Via Kalshi CFTC DCM | CFTC DCM + DCO | CFTC DCM (ForecastEx) |
| Signature feature | Hourly contracts on S&P 500, NASDAQ, BTC, and ETH; existing brokerage integration | Brokerage-integrated, 1,600+ markets | 300+ markets across 9+ categories; full API | Only platform offering BOTH ForecastEx + CME Group contracts; institutional-grade |
| Market types | Sports, economic indicators (Fed), crypto hourlies (BTC/ETH), S&P 500/NASDAQ hourlies | Politics, sports, economics, crypto, culture, climate, companies, financials, tech & science, health, world | Politics, economics, sports, weather, tech, finance, entertainment, science | Politics (incl. 2028 presidential), economics, climate/weather, financial markets |
| Fee structure | $0 (sports contracts) commission (sports); $0.01 per contract (Kalshi) exchange fee | $0.02/contract ($0.01 RH + $0.01 Kalshi) | ≤1.75¢/contract (formula-based) (formula: 0.07 × P × (1 − P); free on politics). The closer to 50/50 odds, the higher the fee — max 1.75¢. Longshots cost almost nothing. | $0 commission; $0.01/contract exchange fee built into price |
| Hourly contracts | Yes — S&P 500, NASDAQ, BTC, ETH | No | Yes (via Kalshi platform) | No |
| Advanced charting | Yes — Webull's full charting suite | Basic | Orderbook + historical data | Yes — institutional tools |
| API access | No (Webull brokerage API only) | No | Full REST + WebSocket API | Yes — FIX API, multi-asset |
| Account required | Existing Webull account | Existing Robinhood account | Separate Kalshi account | Existing IBKR account |
| Funding | Bank transfer, existing Webull balance | Standard Robinhood ACH | ACH, wire, debit card (2% fee), Apple Pay | Standard IBKR transfer |
| Sports markets commission | $0 (sports contracts) | $0.02/contract ($0.01 RH + $0.01 Kalshi) | ≤1.75¢/contract (formula-based) | N/A (no sports markets) |
The key distinction: Webull is built for active traders who want short-duration, data-driven contracts with institutional-grade charting. Robinhood is the easiest entry point for casual traders who already have an account. Kalshi direct gives you the full catalog and API access. IBKR is the institutional pick with the broadest contract universe via ForecastEx + CME Group.
Prediction Market Hub: What to Expect
Mobile app walkthrough & features
Webull's Prediction Market Hub is accessible in the mobile app after completing the event contract application. Based on the official product page at webull.com/trading-investing/prediction-markets, the hub features:
Integrated charting
The same custom charts, indicators, and tools you use for stocks, now applied to prediction markets in real time
Real-time order book
Live bid/ask depth for all active contracts
Hourlies view
Dedicated interface for S&P 500, NASDAQ, BTC, and ETH hourly contracts with current levels and upcoming expirations
Fed Events section
Upcoming FOMC meetings with rate cut/hold/hike contracts
Sports markets
Event contracts on major league outcomes with $0 commission
Note: UI descriptions above are based on the Webull official product page. Screenshots are available at webull.com. We do not describe UI elements not confirmed by official documentation.
Who Should Use Webull Prediction Markets?
Best fit & alternatives
Best for
Active stock and options traders
Who want intraday market hedges via Hourlies
Existing Webull users
Who don't want to open another account — trade prediction markets with your existing balance
Hourly contract traders
Anyone who wants hourly contracts on S&P 500, NASDAQ, BTC, or ETH
Sports bettors seeking lowest fees
Seeking the lowest-cost sports event contract platform with $0 commission
Fed watchers
Who want a clean way to trade rate decisions in a binary, defined-risk format
Not best for
Broad market selection traders
Who want access to politics, weather, or entertainment markets — Kalshi direct has 300+
API / algo traders
Anyone who needs API access or programmatic trading — Kalshi or IBKR are better options
Full catalog seekers
Users who want the full Kalshi 300+ market catalog rather than a curated subset
Institutional traders
Who need CME Group contracts — IBKR ForecastEx is the better fit
Regulation & Safety
CFTC oversight & state availability
CFTC-regulated via Kalshi
Trades via Kalshi (CFTC DCM); Webull is the distribution front-end Webull Financial LLC is registered as a broker-dealer with the SEC and a futures commission merchant (FCM) registered with the CFTC, and is a member of FINRA, NFA, and SIPC. Event contract trading on Webull is conducted through the Kalshi exchange.
State availability: Webull says prediction markets are available to U.S. customers, but we did not verify a complete official 50-state availability list on Webull's own materials for this page. Prediction markets are currently subject to active litigation in several states; Kalshi and its distribution partners including Webull continue to operate while appeals proceed. Use the State Checker to confirm current availability.
Which Market Types Are Easiest to Trust?
Odds are not the whole story. Some markets are easier to compare, trust, and explain than others.
- Elections
- Fed & macro data
- Sports milestones
- Court rulings
- Fast-moving geopolitics
- Personnel & appointment rumors
- Long-tail crypto contracts
- Culture & entertainment markets
- War & death contracts
- Explicit harm markets
- Assassination-style contracts
These labels are editorial context to help users interpret market quality and category sensitivity. They are not claims of misconduct.
Summary
Final assessment & next steps
Webull prediction markets offer a strong option for active traders who want prediction markets integrated with their existing brokerage workflow. The Hourlies product — hourly contracts on S&P 500, NASDAQ, BTC, and ETH — is a unique offering in the market, providing intraday hedging capabilities that no other Kalshi distribution partner provides.
The trade-off is market breadth. Webull deliberately curates its catalog around what its active trader base will use most: Hourlies, Fed events, and sports. If you want politics, weather, or the full Kalshi universe, you'll need to go direct to Kalshi.
Summary: If you already trade stocks or options on Webull and want to add prediction markets without a new account, Webull is a natural fit. If you want hourly contracts specifically — and you're not on Webull yet — the Hourlies product alone may be worth creating an account for.
Compare all platforms
See how Webull stacks up against every prediction market platform — fees, markets, regulation, and state availability in one place.
Full Platform DirectorySources & Methodology
Platform data is sourced from our platform database, the canonical fact file verified by our QA process. Hourly contract product availability (S&P 500, NASDAQ, BTC, ETH Hourlies; Fed Events) was verified at build time via webull.com/trading-investing/prediction-markets and a NASDAQ press release dated June 10, 2025 (Webull Launches Kalshi's Hourly Crypto Markets).Trading hours (Mon–Fri 8 AM–4 PM ET) and $0.01/contract fee sourced from webull.com structured data. Zero-commission sports announcement sourced from US News & World Report (Feb 9, 2026).PredictionMarkets.us is editorially independent.
Last updated: April 2026. This guide is for informational purposes only and does not constitute financial advice.
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