Known for its pick’em and season-long fantasy games, Sleeper is now offering prediction markets via Sleeper Markets LLC. This venture represents a broader trend of DFS apps, sportsbooks, and other iGaming operators breaking into the prediction market industry.
After going through a brief legal battle with the CFTC and receiving approval from the NFA, Sleeper Markets now has Team Picks live in the app. Users can trade on moneylines, spreads, and totals, which makes it a great alternative to DFS and sports betting. See all the details from FantasyLabs below ⬇️
Sleeper Markets Promo Code Details
Sleeper Markets is now live, but there’s no promo code specific to the prediction market feature just yet.
However, you can sign up for app via the fantasy promo code
New-user trading bonuses similar to the Kalshi referral code might become available for Sleeper Markets, so be sure to check back for updates from FantasyLabs!
| ⭐ Sleeper Markets Promo Code | Stay tuned! |
| 💰 Sleeper Markets Signup Offer | Stay tuned! |
| 📍 Sleeper Markets States | Most states—check the app to verify. |
| 📝 Sleeper Markets Terms | Likely 18+ for Team Picks. |
| 🎯 Last Verified by FantasyLabs On | February 2026 |
See FantasyLabs’ review of the Sleeper Fantasy promo code for more info on the fantasy welcome offer
Sleeper Markets News Updates & Timeline
Here’s a timeline following the latest Sleeper Markets developments:
- Late May 2025: Sleeper Markets submitted its application to the NFA (National Futures Association) for registration as an FCM, which would allow the operator to legally offer prediction market event trading via a partnership with a DCM.
- Late August 2025: The NFA officially completed its review of Sleeper Markets’ FCM application and indicated that final approval would be delivered no later than Sept. 4.
- Mid-September 2025: On behalf of Sleeper Markets, Joshua Sterling sent a letter to the Office of the Inspector General, reporting that the CFTC interfered with the final approval of Sleeper’s prediction markets product.
- Late September 2025: Sleeper Markets formally sues the CFTC for illegally blocking its FCM application.
- Early January 2026: The NFA approves Sleeper Markets, and Sleeper drops its lawsuit against the CFTC.
- Early February 2026: Sleeper launches its Team Picks in-app to allow trading on prediction markets.
Sleeper Markets Legal Status
Sleeper Markets is live and legal via approval from the NFA (National Futures Association) and CFTC (Commodity Futures Trading Commission).
The entity submitted an application to the NFA to become an FCM (Futures Commission Merchant). As an FCM, Sleeper Markets is able to serve as an intermediary by accepting orders to buy/sell futures and facilitating event contract transactions.
Sleeper Markets partnered with Kalshi, which is a DCM (Designated Contract Market) and a CFTC-registered exchange that enforces trading rules to prevent market manipulation.
Think of Sleeper Markets like the middleman, and its partnering DCM as the host of event contracts.
How Sleeper Markets Works
Sleeper Markets is not a sportsbook—it operates similarly to other prediction market apps.
As a trading exchange, Sleeper Markets will let users buy/sell event contracts on events potentially ranging from sports outcomes to pop culture and politics.
Users can buy Yes or No contracts ($0.01 to $0.99) to indicate whether they think an event will happen or not. Correct contracts pay out $1, and incorrect contracts go to nil.
For instance, Sleeper Markets might list Yes at $0.52 for the Chargers to win in the Chargers vs. Eagles game. If you buy one contract at $0.52 and hold on to it until it settles, you’d get a profit of $0.48 (not including fees).
Users may sell contracts before an event settles to lock in profit or mitigate losses. For instance, if the Chargers are up by two touchdowns at half, the value of your Yes contract may increase from $0.52 to $0.65. If you don’t want to risk a comeback by the Eagles, you could sell early to guarantee the $0.13 profit (again, that’s before fees).
Alternatively, if the Chargers were down by two touchdowns at halftime, your Yes contract might now be worth only $0.40. You can sell early and only lose $0.12 instead of the full $0.52.
At Sleeper Markets, event contract prices are influenced by market demand and are constantly changing. The peer-to-peer exchange facilitates transactions between users (usually for a fee), so you’re trading on market price rather than house odds.
Note that Sleeper Picks features Player Picks and Team Picks. Player Picks operate under DFS rules, while Team Picks are the Sleeper Markets feature, offering prediction market event contract trading.
Event Contracts Available at Sleeper Markets
Sleeper Markets mimics a sportsbook by offering trading on moneylines, spreads, and totals.
Like other sports platforms that have rolled out exchanges (think PrizePicks Predict, Fanatics Markets and FanDuel Predicts), Sleeper Markets offers Team Picks related to:
- NFL
- NBA
- NHL
- MLB
- Soccer
- Golf
- Tennis
- MMA
- & more
Right now, Sleeper Markets focuses exclusively on Team Picks. In the future, it may expand to offer event contracts related to politics and pop culture.
Sleeper Markets Legal States
With some sportsbooks that have launched exchanges, we’ve seen them target states without legal sports betting to avoid endangering the legal status of their sportsbooks.
Sleeper doesn’t have this issue as it’s a fantasy product, so its prediction markets are available in most states.
Keep in mind that prediction markets still face backlash from state regulators, so check the Sleeper app to see if you can trade on Team Picks.
Sleeper Markets App Review
Our team at FantasyLabs recently took a deep dive into the Sleeper app, specifically focusing on how they’ve woven prediction markets into their existing ecosystem. The verdict? It’s a masterclass in seamless integration.
Sleeper has managed to keep the high-speed, modern aesthetic that originally won over the season-long community, applying that same polish to their newer prediction market offerings.
The Highlights
- The “All-In-One” Advantage: The biggest win here is convenience. You don’t have to jump between different apps to manage your dynasty roster and then check out Sleeper Team Picks. Everything lives under one roof.
- Intuitive UI: Even though the app is packed with more features than ever, the navigation doesn’t suffer. It feels dense but never truly cluttered.
- Market Evolution: Much like the transition we’ve seen with PrizePicks Predict, Sleeper is successfully pivoting from its DFS roots to become a powerhouse in the prediction market space.
While the connectivity between products is top-tier, there is a small catch for those who like to mix their plays: Team Picks currently cannot be bundled with Player Picks on a single slip. You’ll have to keep those entries separate for now.
Fees & Taxes for Sleeper Markets
Sleeper Markets has taker fees built into transactions, as do other prediction market apps in the U.S.
Additionally, your profits on Sleeper Markets are subject to income tax, just like profits from any other exchange. At the same time, you can benefit from tax advantages for losses.
Responsible Trading at Sleeper Markets
While it’s not a sportsbook or DFS platform, Sleeper Markets comes with risk.
This prediction market exchange prioritizes responsible trading to not only retain its FCM status but also protect users.
Responsible trading resources at Sleeper Markets include:
- Educational materials on trading practices
- Deposit and trade limits
- Responsible trading helplines
If you need further responsible gambling support, call 1-800-GAMBLER.
FAQs
What is Sleeper Markets?
Sleeper Markets is a prediction market platform that lives in the existing Sleeper Fantasy app. Its Team Picks allow users to trade event contracts related to moneylines, spreads and totals across various leagues.
What is the Sleeper Markets promo code?
Use code
Is Sleeper Markets legal?
Yes, Sleeper Markets’ Team Picks are legal and live. They have approval from the CFTC and NFA.
What can you trade at Sleeper Markets?
Sleeper Markets lists event contracts for sport outcomes (moneylines, spreads, totals, etc.) related to the NFL, NBA, NHL, MLB, etc. In the future, trading might also be available on pop culture, politics, weather, finance, etc.
