Prediction Markets in Montana

Montana's Unusual Sports Betting Framework

Montana operates one of the most restrictive legal sports betting markets in the United States. Sports Bet Montana is a state lottery monopoly product launched in March 2020 — the only legal sports betting option in the state. The product is operated by Intralot under contract with the Montana Lottery and is restricted to:

1. In-person wagering at Sports Bet Montana retail kiosks located at licensed Montana lottery retailers (taverns, restaurants, casinos)
2. On-property mobile wagering only when physically located on a participating retailer's premises (geofenced by retailer location)

There is no off-premises mobile sports betting in Montana under the Sports Bet Montana framework. Major operators like FanDuel, DraftKings, BetMGM, Caesars, ESPN BET, and Fanatics do not operate sportsbooks in Montana — the lottery monopoly excludes them.

Kalshi's argument in court will frame this consumer-demand vacuum and the federal CFTC framework as legitimate alternatives.

What Montana Residents Can Trade in 2026

Full federal prediction market catalog is available to MT residents 18+ as of April 21, 2026:

• NFL, NBA, MLB, NHL — full league coverage
• College sports — Montana Grizzlies and Montana State Bobcats football and basketball, plus full national college coverage on Kalshi
• Politics — 2026 midterms (Montana's 2026 US Senate race is one of the most-watched in the country given the state's competitive recent history), 2028 presidential, congressional control
• Economic data, crypto, culture, weather — full catalog (Montana wildfire-related contracts have been particularly active given the state's wildfire exposure)

Best Platforms for Montana Residents

OG.com is our top pick for Montana in 2026. Crypto.com's CFTC-regulated sports-first prediction market combines a 4-leg parlay builder, social trading feed, and live in-game contracts — and new traders can trade $25 and get $50 in rewards with code RANKPREDICTS. Kalshi remains a strong runner-up for the deepest non-sports catalog and lowest published fees.

Polymarket US is not named in the Montana enforcement action and offers strong politics/crypto liquidity at the lowest fees in the category.

Robinhood provides Kalshi-routed contracts in the familiar Robinhood app for existing MT brokerage users.

DraftKings Predictions and FanDuel Predicts are particularly relevant in Montana because the state's Sports Bet Montana lottery monopoly excludes both companies' sportsbook brands. The Predictions products give MT residents the closest equivalent to a familiar sportsbook-style mobile experience for event contracts.

How MT Compares to Neighboring States

• Idaho: Available, dispute pending (as of October 3, 2026)
• North Dakota: Available (as of October 3, 2026)
• South Dakota: Available (as of October 3, 2026)
• Wyoming: Available (as of October 3, 2026)

Risk Considerations for Montana Traders

A federal court order paralleling the Arizona outcome (April 11, 2026 federal injunction against state enforcement) would solidify access. A state-favorable ruling could trigger geofencing similar to Nevada's situation.

VPN use to bypass any future restrictions violates platform terms of service and can result in account closure and forfeiture.

Tax Considerations for Montana Residents

Montana has a graduated state income tax with a top rate of 5.9% (under the recently enacted MT tax reform). Net gains from prediction market trading are taxable at federal level plus the MT state rate. Kalshi provides a profit-and-loss statement for your trades; platforms' 1099s mainly cover interest, rewards and crypto transfers.

Montana residents should also note that Sports Bet Montana lottery winnings are separately reported by the lottery, distinct from prediction-market platform statements. Track each separately.

What could change the status

Dates we are watching: Nevada's responses to the Robinhood and Crypto.com Supreme Court petitions are now due November 13 and 16, 2026 (both extended in October), and Kalshi's response to New Jersey's petition is due November 9, 2026 (deadlines can be extended); the earliest the Supreme Court could act on the petitions is a conference in December 2026 or January 2027 (our estimate, not a scheduled date); the Ninth Circuit has not yet decided Kalshi's request for a rehearing by the full court. We re-check this page when any of these happen and log the change above.

Best Platforms Compared

Status in Montana as of October 3, 2026

Platform	Status	Why (source)	Welcome offer in Montana
Kalshi	Available, dispute pending	Kalshi accepts Montana residents; Kalshi sued Montana after cease-and-desist orders and a federal judge denied it an injunction without prejudice on Aug 27, 2026; Montana is in the Ninth Circuit. (source (opens in a new tab))	Valid: Trade $25 and Get $25!
Polymarket US	Available, dispute pending	Polymarket US accepts Montana residents; Kalshi sued Montana after cease-and-desist orders and a federal judge denied it an injunction without prejudice on Aug 27, 2026; Montana is in the Ninth Circuit. (source (opens in a new tab))	Valid: Deposit $10 get a $25 Trading Bonus!
ProphetX	Available, dispute pending	ProphetX accepts Montana residents; Kalshi sued Montana after cease-and-desist orders and a federal judge denied it an injunction without prejudice on Aug 27, 2026; Montana is in the Ninth Circuit. (source (opens in a new tab))	Valid: Trade $50, Earn $75!
OG (by Crypto.com)	Available, dispute pending	OG accepts Montana residents; Kalshi sued Montana after cease-and-desist orders and a federal judge denied it an injunction without prejudice on Aug 27, 2026; Montana is in the Ninth Circuit. (source (opens in a new tab))	Valid: Trade $25 Get $50 in Rewards! (New users only)
Novig	Available, dispute pending	Novig accepts Montana residents; Kalshi sued Montana after cease-and-desist orders and a federal judge denied it an injunction without prejudice on Aug 27, 2026; Montana is in the Ninth Circuit. (source (opens in a new tab))	Valid: Deposit $10 Get $50 in Trade Credits!
Rebet	Not offered	Rebet is a sweepstakes app, not a CFTC-regulated exchange; its sweepstakes rules exclude Montana. (source)	Not valid here

What changed (newest first)

• Sep 11, 2026 (federal) — Crypto.com asks Supreme Court to review Ninth Circuit ruling (No. 26-344). Source: Supreme Court of the United States, docket No. 26-344 (opens in a new tab)
• Sep 10, 2026 (federal) — Kalshi seeks Ninth Circuit rehearing; Robinhood petitions Supreme Court. Source: Sports Betting Dime (opens in a new tab)
• Sep 2, 2026 (federal) — New Jersey asks U.S. Supreme Court to review Kalshi preemption ruling. Source: New Jersey Office of the Attorney General (opens in a new tab)
• Aug 28, 2026 (federal) — Ninth Circuit rules for Nevada regulators in Kalshi case. Source: U.S. Court of Appeals for the Ninth Circuit (opinion, No. 25-7516) (opens in a new tab)
• Aug 27, 2026 — Federal judge denies Kalshi injunction in Montana. U.S. District Judge Donald Molloy denied, without prejudice, Kalshi's motion for a preliminary injunction against enforcement of Montana gambling laws, because Kalshi had repeatedly agreed to pause the case and so could not show irreparable harm; the judge did not rule on whether federal law overrides Montana law. Source: Sports Betting Dime (opens in a new tab)
• Apr 13, 2026 — Kalshi sues Montana after second cease-and-desist order. Trade press reported that Kalshi sued the Montana Attorney General and gambling regulators after receiving a cease-and-desist order dated April 6, 2026. Source: Sports Betting Dime (opens in a new tab)
• Apr 6, 2026 (federal) — Third Circuit sides with Kalshi against New Jersey regulators. Source: U.S. Court of Appeals for the Third Circuit (opinion, No. 25-1922) (opens in a new tab)
• Mar 26, 2025 — Montana regulator orders Kalshi to stop sports event contracts. The Gambling Control Division of the Montana Department of Justice sent Kalshi a cease-and-desist notice describing its sports event contracts as illegal gambling. Source: Sports Betting Dime (opens in a new tab)

Prediction markets in other states

• Alaska
• California
• Colorado
• Connecticut
• Florida
• Hawaii
• Illinois
• Kansas
• Maryland
• Massachusetts
• Minnesota
• Nebraska
• New Hampshire
• New Jersey
• New York
• North Dakota
• Oregon
• Pennsylvania
• Rhode Island
• Texas
• Utah
• Vermont
• Virginia
• Washington
• Wyoming
• Alabama
• Arizona
• Arkansas
• Delaware
• Georgia
• Idaho
• Indiana
• Iowa
• Kentucky
• Louisiana
• Maine
• Michigan
• Mississippi
• Missouri
• Montana
• Nevada
• New Mexico
• North Carolina
• Ohio
• Oklahoma
• Puerto Rico
• South Carolina
• South Dakota
• Tennessee
• Washington DC
• West Virginia
• Wisconsin

§ References & Sources

1. Commodity Futures Trading Commission (CFTC) (opens in a new tab)— U.S. federal regulator
2. CFTC Designated Contract Markets list (opens in a new tab)— CFTC
3. 26 U.S. Code § 1256 — Section 1256 contracts marked to market (opens in a new tab)— Cornell Law / U.S. Code
4. IRS Form 6781 — Gains and Losses From Section 1256 Contracts (opens in a new tab)— Internal Revenue Service
5. National Council on Problem Gambling — 1-800-GAMBLER (opens in a new tab)— NCPG

Frequently asked questions

Are prediction markets legal in Montana?

We don't give legal verdicts, but here is the status as of October 3, 2026: Kalshi, Polymarket US, ProphetX, OG and Novig: Available, dispute pending. Kalshi sued Montana after cease-and-desist orders and a federal judge denied it an injunction without prejudice on Aug 27, 2026; Montana is in the Ninth Circuit. Nationally, federal appeals courts are split on sports event contracts, all at the preliminary-injunction stage, and three Supreme Court petitions are pending; none has been granted.

Can I use Kalshi in Montana?

Status as of October 3, 2026: Available, dispute pending. Kalshi accepts Montana residents; Kalshi sued Montana after cease-and-desist orders and a federal judge denied it an injunction without prejudice on Aug 27, 2026; Montana is in the Ninth Circuit. Kalshi's welcome offer (Trade $25 and Get $25!) applies to Montana residents. Kalshi's minimum age is 18; we recommend 21+.

What has Montana done about prediction markets?

Kalshi sued Montana after cease-and-desist orders and a federal judge denied it an injunction without prejudice on Aug 27, 2026; Montana is in the Ninth Circuit. Most recent entries in our timeline: Aug 27, 2026: Federal judge denies Kalshi injunction in Montana; Apr 13, 2026: Kalshi sues Montana after second cease-and-desist order; Mar 26, 2025: Montana regulator orders Kalshi to stop sports event contracts. Each entry above links to its source.

What could change the status in Montana?

Dates we are watching: Nevada's responses to the Robinhood and Crypto.com Supreme Court petitions are now due November 13 and 16, 2026 (both extended in October), and Kalshi's response to New Jersey's petition is due November 9, 2026 (deadlines can be extended); the earliest the Supreme Court could act on the petitions is a conference in December 2026 or January 2027 (our estimate, not a scheduled date); the Ninth Circuit has not yet decided Kalshi's request for a rehearing by the full court. We re-check this page when any of these happen and log the change above.