Sleeper Markets: Sleeper’s Upcoming Prediction Market

by Virginia Gandolfo (vgandolfo) Last Updated 2026-01-14T18:50:14
✅ Fact checked by Natali Toiw

Sleeper is best known for its fantasy sports leagues (fantasy football, fantasy basketball, etc.) and popular pick’em contests, but the company is preparing for a major expansion into a new space. Sleeper Markets is an upcoming prediction market platform that would allow users to trade on real-world outcomes instead of placing traditional bets.

Sleeper Markets is not live yet, though the operator has made significant progress. The National Futures Association (NFA) approved Sleeper Markets LLC, which led to Sleeper dropping its lawsuit against the Commodity Futures Trading Commission (CFTC) for blocking its initial application.

There’s currently no way to sign up, trade, or claim a promo code at Sleeper Markets, but RotoGrinders is providing all the updates you need.

Below is a complete breakdown of what Sleeper Markets is, how it would work, and what users can realistically expect if and when it launches.

What Is Sleeper Markets?

Sleeper Markets is a proposed prediction market exchange, not a sportsbook or DFS app.

Instead of betting against the house, users would buy and sell event contracts with other users. Each contract represents a “Yes” or “No” outcome tied to a specific real-world event.

Here’s how prediction market contracts generally work:

• Contracts are typically priced between $0.01 and $0.99
• Prices reflect the market’s implied probability of an outcome
• Correct contracts settle at $1.00
• Incorrect contracts settle at $0.00
• Users can buy or sell contracts at any time before settlement, subject to market liquidity

This model removes traditional odds and replaces them with market-driven pricing based on supply and demand.

Is Sleeper Markets Live or Legal Right Now?

No. Sleeper Markets is not live and not currently legal.

Sleeper Markets LLC submitted an application to become a Futures Commission Merchant (FCM), which would allow it to act as an intermediary for prediction market trading.

Sleeper sued the CFTC for illegally interfering with its NFA application. But once the NFA approved Sleeper Markets, Sleeper dropped its lawsuit against the CFTC.

While that legal dispute is resolved, Sleeper Markets is not live in the U.S. just yet. No launch date has been announced, but RotoGrinders will keep you posted if that changes.

Sleeper Markets Timeline & Key Events

• May 2025: Sleeper Markets submits FCM application to NFA.
• Aug 2025: NFA completes review.
• Sept 2025: CFTC allegedly intervenes.
• Sept 2025: Sleeper Markets files lawsuit.
• Jan 2026: NFA approves Sleeper Markets, and Sleeper drops its lawsuit against the CFTC.

What Sleeper Markets’ FCM Status Means

The NFA approved Sleeper Markets as an FCM. But what does that mean?

To function legally, two roles must be in place:

• Futures Commission Merchant (FCM): Accepts customer orders and facilitates trades.
• Designated Contract Market (DCM): Hosts event contracts and enforces trading rules.

Sleeper Markets will serve as the FCM, meaning it would not host contracts itself. Instead, it would need to partner with a registered DCM, similar to how Robinhood partners with Kalshi.

Potential DCM partners could include Kalshi, Polymarket, or Crypto.com, though no partnership has been announced.

Sleeper Markets Promo Code & Sign Up Offer Status

Because Sleeper Markets is not live, there is no Sleeper Markets promo code available.

That said, when the platform launches, new-user incentives are likely. These could mirror promotions offered by top prediction market apps, including free trading credits, referral bonuses, and reduced fees for new users.

RotoGrinders will update this page with official promo code and signup bonus details once Sleeper Markets goes live.

How Trading Would Work on Sleeper Markets

Sleeper Markets will operate more like a trading exchange than a betting app.

Example Trade

Imagine Sleeper Markets lists the following event contract:

Los Angeles Chargers to beat Philadelphia Eagles: YES at $0.52

Buying one contract costs $0.52

• If the Chargers win, the contract settles at $1.00, resulting in a $0.48 profit before fees.
• If the Chargers take a big halftime lead, the contract price may rise to $0.65. At that point, you could sell early to lock in a $0.13 gain instead of waiting for final settlement.
• If the Chargers fall behind, the contract price might drop to $0.40, allowing you to sell early and limit losses.

Types of Event Contracts at Sleeper Markets

Sleeper has not announced official markets yet, but its daily fantasy sports roots suggest a heavy emphasis on sports-related contracts.

Expected Sports Markets

• Game winners
• Spreads and totals
• Futures
• Season-long results (NFL season, etc.)
• Player performance outcomes

Possible Non-Sports Markets

• Politics
• Pop culture
• Entertainment
• Weather
• Economic indicators
• Current events

Non-sports markets may be available in more states depending on regulatory guidance.

How Sleeper Markets Would Differ From Sports Betting

The prediction market structure of Sleeper Markets appeals to users who prefer flexibility, pricing transparency, and trading strategies rather than fixed wagers.

Sleeper Markets States & Availability

Sleeper Markets has not confirmed which states it plans to support at launch.

Some prediction market platforms target states without regulated sports betting to avoid conflicts, while others operate nationally depending on the market category.

Because Sleeper operates primarily as a daily fantasy app rather than a sportsbook, it may have greater flexibility in how and where it launches.

Sleeper Markets App & User Experience

It’s unclear whether Sleeper Markets will operate as a standalone app or be integrated into the existing Sleeper Fantasy app.

Either way, users can expect:

• Mobile access on iOS and Android
• A clean Yes/No trading interface
• Familiar navigation similar to Sleeper Picks
• Fast deposits and withdrawals (Bank transfer, credit/debit cards, PayPal, Venmo, Apple Pay)

If Sleeper applies its existing UX strengths, Sleeper Markets could be one of the most approachable prediction market platforms available.

Fees, Taxes & Responsible Trading

Fees

Sleeper Markets will likely charge transaction (taker) fees, similar to other U.S.-regulated prediction markets. Deposit and withdrawal fees are not expected.

Taxes

• Profits are generally taxable as income
• Losses may be deductible
• Users should consult a tax professional

Responsible Trading

Because Sleeper Markets will operate under federal oversight, responsible trading tools are expected to include:

• Educational resources
• Deposit or trading limits
• Clear risk disclosures

For additional responsible gambling support, users can contact 1-800-GAMBLER.

Sleeper Markets vs. Kalshi vs. Polymarket: A Quick Comparison

Two of the biggest names in U.S. prediction markets today are Kalshi and Polymarket, and they help illustrate where Sleeper Markets could eventually fit in.

• Kalshi operates as a fully CFTC-regulated exchange, offering event contracts across sports, politics, economics, weather, and more. It uses a traditional, fiat-based model with standard identity verification and strong consumer protections, making it the most legally established option for U.S. users.
• Polymarket, on the other hand, originally gained popularity as a crypto-native prediction market, allowing users to trade contracts using USDC via blockchain wallets. It has historically attracted significant liquidity, especially around politics and pop culture, but its regulatory path in the U.S. has been more complex.

When Sleeper Markets launches, it would likely resemble Kalshi’s regulated structure while aiming to deliver a more casual, sports-first user experience similar to what Sleeper users are already familiar with.

Final Verdict: Is Sleeper Markets Worth Watching?

Sleeper Markets has the potential to become one of the most user-friendly prediction market platforms in the U.S., especially for sports fans already familiar with Sleeper’s ecosystem.

Now that Sleeper Markets has NFA approval, it’s only a matter of time before its prediction market app launches.

FAQs About Sleeper Markets

What is Sleeper Markets?

Sleeper Markets is a pending prediction market platform from Sleeper that would allow users to trade event contracts tied to sports and other real-world outcomes.

What is Sleeper Markets legal status?

Sleeper Markets is not live yet, but it did receive NFA approval in January 2026.

Is there a Sleeper Markets promo code?

No promo code is available yet because the platform has not launched.

Is Sleeper Markets a sportsbook?

No. Sleeper Markets will operate as a prediction market exchange, not a sportsbook.

When will Sleeper Markets launch?

There is no confirmed launch date, though it could be before the end of 2026.