Prediction-market promotions and sportsbook bonuses may advertise similar dollar amounts, but they can award different things and impose different conditions. A trading credit is not automatically cash, and a sportsbook bonus bet is not the same as a deposit match. Compare what you receive, what you must do to qualify, whether any balance or winnings can be withdrawn, and the offer’s expiry and location rules.
What does “bonus” mean in each kind of offer?
The word “bonus” does not tell you whether an award is cash, a credit for trading, or a restricted bet. Read the offer terms to identify the reward itself before comparing its advertised value with another promotion.
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- Trading credit: A credit used to trade event contracts. The credit itself may not be withdrawable, even if profits made with it can be withdrawn subject to the offer’s conditions.
- Bonus bet: A sportsbook award used on an eligible wager. Check whether the stake is returned if the wager wins and what restrictions apply; the headline amount alone does not establish how much cash you can ultimately withdraw.
- Bonus funds or a deposit match: Additional sportsbook funds tied to a qualifying deposit. Terms may require play-through before the bonus funds can be withdrawn.
These are distinct offer structures, not interchangeable labels. A promotion’s terms should say what the reward can be used for and what happens to the reward and any resulting profit or winnings.
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How do the qualification and withdrawal rules compare?
Compare the actions required to earn an award with the restrictions on using it. A large advertised amount may require more qualifying activity or be less accessible than a smaller award.
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| What to check | Prediction-market promotion | Sportsbook bonus |
|---|---|---|
| Reward type | May be trading credit; terms determine eligible contracts and whether the credit itself can be withdrawn. | May be a bonus bet, deposit match, or bonus funds; terms determine eligible wagers and withdrawal conditions. |
| Qualification | Check account status, promo code, minimum deposit or trade, and any required market or trading period. | Check account status, promo code, minimum deposit, eligible wager, odds requirements, and any other qualifying activity. |
| Withdrawal | Check separately whether the credit and profits earned using it can be withdrawn. | Check separately whether bonus funds or the bonus-bet stake can be withdrawn, and what happens to winnings. |
| Expiry and scope | Check the credit expiry, eligible markets, age, state, and any physical-location requirements. | Check the offer expiry, eligible sports or wagers, age, state, and any physical-location requirements. |
| Source of terms | Operator terms govern the offer; a third-party roundup is a dated description, not a guarantee. | Operator terms and applicable state rules govern; a roundup may not include every condition. |
For either category, read the full terms before depositing or trading. Confirm the minimum activity, deadline, eligible markets or wagers, any odds threshold, and whether you must opt in. Determine whether the award expires, whether the qualifying activity itself carries risk, and whether cash or winnings can be withdrawn before a separate requirement is met.
What do recent promotion examples show?
A CBS Sports roundup marked “Last verified October 3, 2026” reported several offers. These are examples reported by a secondary publisher on that date, not market-wide averages or guarantees that an offer remains available:
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- Kalshi: trade $25 for $55 in bonus trading credits.
- Polymarket US: deposit $10 or more for $25 in trading credits.
- Underdog: a 50% deposit match up to $1,000 in bonus funds.
- Novig: deposit $10 or more for $25 in trade credits.
- FanDuel Predicts: up to $100 in bonus credits after trading $1 for five days.
In its descriptions, CBS Sports said Kalshi credits could not be withdrawn directly, had to be used to trade, and had to be used within seven days. It said Polymarket US credits were not withdrawable, while profits could be. Those details illustrate why a headline amount is not the same as cash value; consult the operator’s live terms for current eligibility and conditions. CBS Sports’ prediction-market promotions roundup.
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FOX Sports also described a Kalshi new-user offer of up to $55 in trading credit after at least $25 in event-contract trades, with age, location, and other restrictions. That is another secondary description, not an independent primary confirmation of the offer’s final terms. Check the operator’s terms before relying on it. FOX Sports’ Kalshi promotion page.
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Why geography and regulation matter
Do not assume prediction markets are universally outside state gambling restrictions, or that a product is available everywhere. The U.S. Commodity Futures Trading Commission’s April 28, 2026 release describes active litigation between the agency and states over authority concerning event contracts. It records the Commission’s position and ongoing disputes; it does not settle every jurisdiction or guarantee that a particular platform or contract is available in a state. Check current state restrictions and the operator’s eligibility rules. CFTC release on litigation concerning prediction-market jurisdiction.
Sportsbook promotion rules can also vary by state. Ohio provides one specific example: Ohio Administrative Code Rule 3775-16-09, effective October 26, 2024, permits sports-gaming proprietors to offer promotions unless otherwise restricted, requires clear and unambiguous rules covering matters such as active dates, rules of play, and prize or award value, and requires operators to make rules available and track promotions. The rule permits play-through conditions on bonus funds while stating that patrons must not be prevented from withdrawing their own funds or winnings on wagers made using their own funds. This is Ohio’s rule, not a nationwide standard. Ohio Administrative Code Rule 3775-16-09.
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A Kalshi filing dated February 7, 2026 describes a “Sportsbook Hedging Rebate Program.” It is a business-facing incentive for qualifying members who offset or hedge risks from sportsbook services—not a general new-user offer. The filing describes eligibility limits, attestations, designated markets, and rebates of specified fees only on orders exceeding 300,000 total contracts traded for the stated hedging purpose. The program is scheduled to end no later than February 1, 2027, but the filing says it may be amended or terminated sooner. KalshiEX LLC’s CFTC-filed program terms.
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A practical way to compare offers
- Name the reward precisely. Is it trading credit, bonus funds, a bonus bet, or something else?
- Write down the qualifying action. Include the minimum deposit or trade, eligible contract or wager, any odds requirement, and the deadline.
- Separate the balances. Find out whether the award itself is withdrawable, whether profits or winnings are withdrawable, and whether either requires more trading or wagering.
- Check limits before you act. Confirm expiry, eligible states, age, physical-location rules, and any product-specific restrictions.
- Verify the live terms. Treat a dated roundup as a useful lead, not the final word; check the operator’s current rules for the specific account and offer.
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