FOR IMMEDIATE RELEASE
February 18, 2026
Contact: Abby Arndt, media@thefsga.org

New FSGA Research Details the Current State of Prediction Markets

LAS VEGAS – The Fantasy Sports & Gaming Association (FSGA) today announced findings from its latest research report, presented at the 2026 FSGA Winter Conference in Las Vegas. Conducted by Angus Reid on behalf of the FSGA, the study reveals growing interest in prediction markets among fantasy players and bettors, paired with ongoing confusion about how prediction markets work and how they differ from traditional sports betting.

Key Findings:

• Fantasy sports and sports betting participation is steady: 27% of U.S. adults (about 72 million) participated in fantasy sports and/or sports betting in the past 12 months; and the overlap between fantasy sports and sports betting remains strong
• Prediction markets are still new to many: About half of Americans have heard of prediction markets, but far fewer say they truly understand the vertical.
• Confusion is a major theme: Many consumers struggle to distinguish prediction markets from traditional sports betting (even after seeing a definition).
• Actual prediction markets usage is still small: About 1 in 20 Americans report using a prediction market in the past year.
• Users tend to look like “power participants”: Prediction market users skew younger, more male, and with a higher-income than the general population.
• Top barriers are risk and regulation: The biggest concerns include spending too much time/money and regulatory/legal uncertainty.
• Future interest is high among core audiences: Over 60% of fantasy players and sports bettors say they’re open to trying prediction markets soon.
• Sports leads future demand: Sports is the top prediction markets category of interest, followed by politics and entertainment.

“Prediction markets are quickly becoming part of the broader sports gaming landscape, and this research shows both the momentum and the misunderstanding happening at the same time,” said FSGA Chair Brandon Loeschner. “As consumer interest grows, the industry has a responsibility to lead with clarity - helping fans understand what prediction markets are, how they work, and how they differ from existing products, while supporting responsible participation and thoughtful, informed regulation.”

Methodology

The study was conducted online by the Angus Reid Group from January 8–21, 2026, among a nationally representative sample of 2,011 U.S. adults. It measured participation in fantasy sports and sports betting over the past 12 months, along with awareness, understanding, usage, and openness toward prediction markets.

Past-year prediction market users were defined as respondents who reported trading on at least one legitimate prediction-market platform within the last 12 months. To ensure data quality, the research applied multiple validation checks, including follow-up confirmation for “prediction” products on major sportsbook platforms and screening out respondents whose answers were inconsistent with actual prediction market trading behavior or lacked sufficient detail.

About FSGA
The Fantasy Sports & Gaming Association is the only national organization representing the interests of fantasy sports and gaming companies. We are the voice for over 80 million fantasy sports players in the United States and Canada, and for the companies that provide services, news, information, and competition to support these growing industries. Our members are sports and gaming enthusiasts, with companies that range from small startups to large media corporations. Our mission is to provide our members with essential research and data, networking opportunities and collective action to help them reach their potential. For more information, visit https://thefsga.org.

About Angus Reid
Angus Reid is one of North America’s most well-known and trusted online public opinion communities consisting of engaged residents across the U.S. and Canada who answer surveys on topical issues that matter to all. Learn more at https://www.angusreid.com.