Sporttrade Ceases All U.S. Sportsbook Operations
Jesse M. Cox Published 21/05/2026
Sporttrade has announced its departure from the U.S. online sports betting market. The company will cease accepting bets on May 25, 2026, at its online sportsbook sites in New Jersey, Arizona, Colorado, Iowa, and Virginia. Customers with live bets through Sporttrade will have until late June to cash any winning bets or withdraw funds from their accounts.
It isn't going to be an exit as much as it will be a refocus for Sporttrade. The company is switching from sports betting to a focus on prediction markets. The company filed applications with the Commodities Futures Trading Commission (CFTC) to become both a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) in February 2026.
Sporttrade announces its departure, teases future endeavors
Taking to its website, Sporttrade made the announcement of its plans to halt all sports betting operations in the U.S. market.
"On May 25, 2026, all wagering will cease as Sporttrade leaves the online sports betting market," the release read. "New Jersey users will need to withdraw funds by May 25th as they lose access that same day. Arizona, Colorado, Iowa, and Virginia users will need to withdraw funds by June 25th. On June 26, 2026, platform access will be removed for everyone. Any remaining balances will be mailed via check to your address on file."
Then, the company closed with a cryptic message.
"Stay tuned for what’s next!"
The sportsbook failed to make inroads as an exchange betting site
Since launching in the U.S. market, Sporttrade sought to stand out in the crowded sports betting landscape by choosing to operate as a betting exchange. "Sporttrade isn't a sportsbook: it's a marketplace," the site noted. "Participants buy and sell listed contracts on a central limit order book."
If it sounds familiar, it should. The way that Sporttade operated its sportsbook is remarkably similar to how prediction markets operate. Just follow along with the description of what they do that is provided on the Sporttrade web page.
"We make it easy to place your trade, track your trade, and sell your trade when it’s time to make a profit," the site reads. "We use Percent odds instead of American odds because the percent format allows you to more easily track the value of your position as the game progresses. This allows you to trade with the flow of the game, instead of trading solely on the result.
Here's the difference, though. As a sportsbook, Sporttrade is regulated on a state-by-state basis. Prediction markets are federally regulated under the umbrella of the CFTC.
Sporttrade has applied to become a prediction market site
In February, Sporttrade filed an application with the CFTC to gain a license to operate as a prediction market.
“The CFTC’s market-based regulatory framework enables Sporttrade to provide market participants an elevated level of efficiency, transparency, and consumer protection relative to what we’ve been able to offer to date,” Alex Kane, Founder and CEO, said in a statement.
In filing this application, Sporttrade was admitting that the company simply couldn't cut it as a sportsbook. Offering the betting exchange model wasn't working.
“We had originally launched our technology under the assumption that the sports trading vertical would follow the trajectory of most other electronic markets, one towards efficiency and transparency powered by intermediation and institutional participation,” Kane said. “Federal registration will thus allow us to finally unlock the full potential of our natively-built exchange, clearing, and broker technology in our pursuit to always put the customer first.”
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