Moomoo is a prediction market platform that you can access via the website or mobile app. If you’re new to the site and want to learn how it works, my Moomoo review has you covered.
The first thing to know is that Moomoo offers event contracts for trading, not sports betting odds. This platform is regulated in the US, which allows it to offer its prediction markets in the country. I found events in sports, politics, culture, crypto, economics, and climate while making my review. Continue reading as I explain more.
Facts
| Deposit time | 1 – 2 days |
| Support Types | E-Mail, Live Chat, Hotline |
How does Moomoo work?
Moomoo works just like other US prediction market sites I’ve used. Therefore, if you know what a prediction market is, you won’t find the platform difficult to use.
As a Moomoo trader, you can buy event contracts based on real-world outcomes. These contracts are displayed as Yes or No, and you purchase either one based on your prediction of the event.
The contract prices range between $0.01 and $0.99, and they’re determined by the market based on supply and demand. So, they also represent estimated probabilities. For instance, a $0.60 price indicates that roughly 60% of the market expects the outcome to happen.
Moomoo doesn’t set the prices, which is the main reason why the site is different from online sportsbooks. If your prediction is correct, you’ll receive a $1 payout per event contract. You can also choose to sell your contracts early based on the price changes.
Is Moomoo legit?
According to my research, Moomoo is a legitimate prediction market brand. The platform is operated by Moomoo Financial Inc, which is registered with the National Futures Association (NFA). Some other renowned prediction market platforms in the US I’ve tested are also members of the association.
To add, Moomoo sources its event contracts from Kalshi, which is regulated by the US Commodity Futures Trading Commission (CFTC). However, the platform isn’t available in every state.
Due to differing local regulations, Moomoo excludes a few states from trading its event contracts. In my Kalshi review, I also noted the same. You can confirm whether your region is supported when you visit the site, and you have to verify your identity before trading.
Available Moomoo markets for event trading
On the Moomoo website, I found all major prediction markets for trading. The platform charges $0 commissions as you trade, which is unlike some competing sites that charge $0.01 or $0.02. Let’s look at each category:
🏀 Sports
The range of sports event contracts on Moomoo is quite extensive. I saw games in the NFL, NBA, NHL, and MLB, which shows that the brand covers the popular sports leagues in the US. Besides those, Moomoo also lists tennis, boxing, soccer, esports, motorsports, and MMA. That’s over 10 sports to trade on when you register. For the supported sports, I found markets for predicting the game winner, totals, and spreads. Plus, Moomoo offers futures for select leagues. You can trade contracts live while the sports events are ongoing.
🗳️ Politics
Moomoo has an exclusive category for election events. I checked it out and traded contracts for US primaries, senatorial, gubernatorial, and presidential elections. The platform includes polls in other countries as well, and I spotted Brazil, the UK, and Venezuela at the time of my Moomoo review. Other political contracts on the platform are mainly government actions. For instance, you can predict Congress decisions, activities by popular politicians, and geopolitical events.
🎭 Culture
At Moomoo, I didn’t locate a prediction market section tagged ‘Culture.’ The platform uses ‘Entertainment’ instead, which also fits. From what I saw, it covers music, movies, TV shows, video games, awards, achievements, and even collectibles. Without exaggerating, Moomoo has one of the most comprehensive culture offerings I’ve seen on a prediction market site. I bought event contracts for the Oscars Best Picture winner, Grammys Album of the Year, and Top US Netflix Movie of the Week.
💰 Crypto
For crypto, Moomoo focuses on just Bitcoin and Ethereum, the top two digital currencies. You can predict their hourly price movements or when they’ll hit specific values in the future. In my tests, I bought 50 Yes contracts for BTC to cross $54,000 in real-time within an hour at $0.90 each. The event happened, so I received a $50 payout and made a $5 profit on the trade.
📈 Economics
If you’re interested in economics, there are two categories to check on Moomoo: financials and commodities. From their descriptions, it’s easy to tell what each features. In the financials prediction markets, I found outcomes on indices, companies, industries, IPOs, product launches, and more. Meanwhile, the commodities section lets you trade event contracts on oil & gas and metals like gold, silver, and copper.
🌍 Climate
Here’s the last category I checked, and Moomoo didn’t fall short. The site features event contracts for temperature, climate change, snow, rain, hurricanes, earthquakes, and other natural disasters. Just like in my Robinhood prediction markets review, you can predict these happenings in specific US cities such as Los Angeles, New York, Miami, and Chicago.
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Extend the fun with a MooMoo bonus
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Sign up to MooMoo Prediction Markets
After registering with Moomoo, I didn’t find an exclusive bonus for prediction market trading. Likewise, no Moomoo promo code is available for event trading. It’s an area of improvement for the brand, although some other platforms don’t have bonuses as well.
However, Moomoo has a welcome promo that rewards you with free NVDA stock if you fund a new brokerage account. The amount you deposit determines the bonus you receive. For example, $500 gets you $30 in NVDA stock, while $2,000 offers $100.
From my checks, the terms and conditions don’t directly mention prediction markets. However, if you satisfy the requirements and receive the stock, you can sell it and use the proceeds to trade event contracts.
Bank-based payment methods
The payment methods I saw in my Moomoo review for prediction markets are all bank-related. For deposits or withdrawals, you can use ACH or wire transfer, and the transaction limits vary. The platform will only process payments if the account is under your name.
Based on my tests, deposits on Moomoo can take 1 to 5 business days to settle. However, the site will provide you with the funds to trade instantly, up to $1,000 or $10,000, depending on your account status.
When it comes to withdrawals, the processing time is the same. You won’t pay fees with ACH, but wire transfer has a $20 charge.
Simple website and a clean theme
Moomoo has a beginner-friendly website that’s easy to use if you’re new. In my opinion, the brand’s orange color is welcoming, and the spacious design makes it difficult to make mistakes while browsing. You can quickly select your preferred prediction market category from the top row to trade.
On the mobile app, the situation isn’t different. I installed it on both iOS and Android during this Moomoo review and never found it complex for trading on the go. In the app, you can set the display to dark or light mode depending on your preferences.
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Discover MooMoo’s features
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Access global markets on MooMoo
Top-rated customer service
I highly rate Moomoo for customer service because the platform covers all the main channels. It offers 24/7 help via live chat and email, and there’s a phone line to call on weekdays from 8:30 AM to 4:30 PM ET. I can recall seeing similar contact options during my Webull review, and only a few other alternative platforms can boast the same.
Moomoo offers rich prediction markets
At this point, I’m sure you now know how Moomoo works. With event contracts from Kalshi, the platform lets you trade on almost all prediction markets. Sports, politics, crypto, climate, economics, and culture are all covered, as I explained in this Moomoo review.
Moomoo limits payments to bank-related methods, which is the main con I noted. Nevertheless, the supported options are still secure and reliable.
If you’re in an eligible state, you can trust that the brand is legit since its event contracts are CFTC-regulated. To sign up with Moomoo, tap the links on this page to visit the site.
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Moomoo review FAQs
- 📈 What is Moomoo?
Moomoo is a prediction market platform for trading event contracts. Each contract settles at $1 if your prediction is correct.
- 🇺🇸 Is Moomoo legal in the US?
Whether Moomoo is legal in the US depends on your state. That said, the brand operates legally in the US under CFTC oversight.
- 🏈 Can I bet on sports on the Moomoo app?
No, you can’t bet on sports on the Moomoo app. Instead, you trade sports-related event contracts in prediction markets.