Sporttrade operates as one of the first true sports betting exchanges in the United States. Based in Philadelphia, it allows users to trade bets much like stocks, focusing on real-time price movement and liquidity. Sporttrade sets itself apart by letting users enter or exit positions during a game, offering enhanced control over bets. The app mimics financial market functionality with transparent pricing, no hidden fees, and minimal spreads. Sporttrade is licensed and active in states like New Jersey and Colorado, with expansion plans. Its focus on market efficiency and user empowerment positions it as a U.S. betting exchange ecosystem pioneer.

BettorEdge introduces a peer-to-peer sports betting model without the traditional sportsbook "vig" or commission. The app emphasizes social engagement, allowing users to create custom bets and interact within a vibrant community. BettorEdge’s no-fee model makes it attractive to sports enthusiasts looking for fair pricing and community-based experiences. It also integrates charitable giving and betting education. Licensed in multiple states and legal in over 40, BettorEdge is one of the few platforms making betting exchanges accessible while remaining compliant with U.S. laws. Its intuitive interface and strong user base drive continued growth across the country.

BetWhale positions itself as a future contender in the peer-to-peer betting space, providing users a competitive exchange-style experience. While still developing, BetWhale focuses on open odds, dynamic pricing, and a simple betting interface that will attract casual and seasoned bettors alike. The site promotes user-versus-user matchups, removing the house edge found in conventional sportsbooks. BetWhale is building a presence through targeted promotions and early access features in select jurisdictions. While not yet nationally established, its roadmap and innovation in user control and pricing indicate strong potential in the betting exchange sector.

DraftKings is among the biggest and most well-known sports betting names in the United States, but it operates as a conventional sportsbook and not as a betting exchange. Although the user can access numerous betting markets and daily fantasy sports, DraftKings does not include the opportunity to bet against fellow users directly. DraftKings has become a front-runner among online sports betting sites due to its broad popularity, extensive state licensure, and frequent updates of its features. Although it excels at offering traditional fixed-odds style betting options, individuals seeking an authentic peer-to-peer experience or certain betting exchange features might find other sites more suited to their requirements.

PropSwap is an actual secondary marketplace that is particularly made for tickets for sports bets, wherein users can purchase and sell open bets. In contrast to traditional exchanges, it works differently. It allows bettors to cash out or capitalise on value changes for their bets. Through PropSwap, users who belong to cooperating states can transfer tickets halfway through a season or gain valuable bets from other individuals. This resale model provides flexibility and liquidity to bettors, especially those looking to hedge or adjust positions. PropSwap’s innovative ticket trading platform adds a unique layer to U.S. sports betting and appeals to traders and strategic bettors alike.

Bet365 is a major player in the sportsbook industry worldwide, and it is increasing its footprint in the U.S., but it operates solely as a conventional bookmaker. While renowned globally for competitive odds and deep sportsbooks, Bet365 does not operate a peer-to-peer betting exchange in the United States. It offers services in states like New Jersey, Colorado, and Ohio, allowing users to enjoy in-game betting, cash-out, and live streaming. Bet365's US site is a traditional sportsbook that runs to international standards. As much as it's a good option for the old-school bettor, it is missing user-versus-user capability and therefore isn't as attractive for those wanting the betting exchange type of setup.

Caesars Sportsbook is among the major players within the U.S. betting arena, offering a strong traditional sportsbook backed by the Caesars Entertainment brand. It boasts extensive betting markets, decent promotions, and smooth app performance across more than 20 states. However, like DraftKings and Bet365, Caesars lacks a betting exchange model. In its place, it emphasizes a superior sportsbook product with live betting, same-game parlays, and in-line loyalty programs. While it is good at traditional sports betting, those seeking user-vs-user options or customizable pricing will not find them on Caesars.

Kalshi is a CFTC-regulated prediction market platform where users can trade contracts on actual events in politics, economics, and sports. Unlike a standard sportsbook, Kalshi provides a trading exchange where users wager on binary outcomes, like "Will Team A win tonight?" where prices move like stock options. Kalshi operates legally in all 50 states and is regulated at the federal level, distinguishing it as one of the few compliant platforms resembling an exchange. Although not a traditional sportsbook, Kalshi caters to consumers interested in event-driven trading on real-money wagers, offering a transparent marketplace for such activities.

BallStreet Trading offers a real-time prediction market app focused on live sports events. Users trade shares based on game outcomes and scenarios, creating an exchange-style experience during live events. Unlike traditional betting apps, BallStreet doesn’t require users to risk actual money, making it more accessible for casual players. However, partnerships and sweepstakes allow for real-money prizes in some cases. It promotes rapid decision-making and gamification, with trading windows open only during live broadcasts. Though still growing in popularity, BallStreet is one of the few U.S.-based platforms replicating betting exchange dynamics through a fast-paced, interactive format.

PrizePicks is a daily fantasy sports platform that blends fantasy contests with fixed odds-style props betting. Though not a traditional betting exchange, users can pick player performance lines and combine them into multipliers. Available in 30+ states, PrizePicks appeals to bettors looking for simple, fast gameplay without facing off directly against a sportsbook or other users. It lacks price transparency and user-versus-user betting in exchanges, but it remains popular due to ease of use and wide accessibility. PrizePicks has become a top alternative for fans interested in player props and fantasy-style betting formats.