How Smarkets works, whether it is legit, and its US application
Smarkets is a peer-to-peer betting exchange where users set their own odds and bet against each other; it now calls itself a regulated exchange for event-driven prediction markets. Not yet. Its terms bar US residents; Smarkets applied to the CFTC for an exchange on 3 March 2026 and a clearing house is listed from 11 February 2026, both pending.
What it is
Smarkets is a peer-to-peer betting exchange where users set their own odds and bet against each other; it now calls itself a regulated exchange for event-driven prediction markets.
As a betting exchange, Smarkets facilitates peer-to-peer betting where users set their own odds (https://help.smarkets.com/hc/en-gb/articles/212727085-How-to-set-your-own-odds) and bet against each other
We are a financial technology company operating a regulated exchange for event-driven prediction markets.
The exchange relaunched in 2026, rebuilt for a broader audience.
Odds are set by the users on each side, not by Smarkets.
The minimum stake is 0.05 in pounds or euros, and you must be 18 or older.
The minimum stake is £/€ 0.05 and the maximum stake per bet is £/€ 99,999.99.
Commission
Smarkets charges 2% of your net profit on each market, with a 1% Pro tier for heavy users and 3% for the most profitable.
our Standard Tier of commission is 2% on net profits per market only.
A 1% Pro Tier. Anyone who places more than 1500 bets or stakes more than £1m in a calendar month will have to opt in to the Pro Tier to continue trading on Smarkets.
A 3% Select Tier which is applied to a very small number of the most profitable Smarkets users who exceed £25,000 in net profit over the previous 12 calendar months.
The full breakdown, with the new-customer offer, is on Smarkets fees.
Is Smarkets legit
Yes. Smarkets holds licences from the UK Gambling Commission and the Malta Gaming Authority, among others, and has run since 2008.
Licensed in 5 jurisdictions across Europe and the United States. 🇬🇧 United Kingdom UK Gambling Commission Exchange & sportsbook 🇲🇹 Malta Malta Gaming Authority Exchange & sportsbook (EU) 🇮🇪 Ireland Revenue Commissioners Sportsbook 🇸🇪 Sweden Spelinspektionen Sportsbook 🇺🇸 Indiana, US Indiana Gaming Commission Sportsbook 🇺🇸 US (Federal) CFTC application in review Prediction markets (event contracts)
Smarkets (Malta) Limited was granted a licence (MGA/CRP/162/2008) by the Malta Gaming Authority (MGA) in Malta on 10th March 2011.
1.2 Smarkets (Malta) Limited is a wholly owned subsidiary of Smarkets Limited, a company registered on the 17th January 2008 under the laws of the United Kingdom; Company number 06475845;
Smarkets in the US
Not yet. Its terms bar US residents; Smarkets applied to the CFTC for an exchange on 3 March 2026 and a clearing house is listed from 11 February 2026, both pending.
Persons who are residents of; or persons who are located in countries where betting with Smarkets is prohibited (including, but not necessarily limited to Australia, France, Hong Kong, Switzerland, China, South Africa, Denmark, Czech Republic, Belgium, Turkey, the United States, Italy, Portugal, Russia, Belarus, Ukraine, Kazakhstan, Norway and the Netherlands); cannot register as account holders with Smarkets.
Organization: Smarkets Board of Trade Exchange LLC Status: Pending Date: 2026-03-03 00:00:00 Remarks: Also doing business as or under the name Smarkets Exchange
Organization: Smarkets Board of Trade Clearing LLC Status: Pending Registration Date: 2026-02-11 00:00:00 Remarks: Pending application for DCO registration.
Its US licence today is a sportsbook licence in Indiana:
Indiana, US Indiana Gaming Commission Sportsbook
US exchanges open now are compared on Smarkets review.
