Posted on: January 27, 2026, 09:28h.
Last updated on: January 27, 2026, 09:28h.
- Brokerage firm won’t charge commissions on Super Bowl event contracts
- Exchange fees still apply
- Company partners with Kalshi
Online brokerage firm Webull (NASDAQ: BULL) announced today that it will not charge commissions on event contracts related to Super Bowl LX, presenting clients with a gift ahead of the most wagered on US sporting event.
As is the case with some rivals, New York-based Webull operates its prediction market platform via a partnership with Kalshi. The brokerage house has been offering yes/no derivatives since the third quarter of 2025.
Prediction markets have been one of our fastest-growing areas since launch, reflecting how our community wants to engage with major real-world events: through regulated, market-driven pricing that updates in real time,” said Webull US CEO Anthoney Denier in a LinkedIn post.
While trading houses have long since scrapped fees on most stocks and exchange traded funds (ETFs), prediction market operators rely on transaction fees as significant parts of their revenue streams.
Did Webull Bring Promos to Prediction Markets?
Maybe. Maybe not. To date, the still young prediction markets industry hasn’t engaged in promotional spending on par with what was seen by sportsbook operators several years ago, perhaps signaling the former learned a lesson from the latter.
What Webull’s commission-free Super Bowl strategy may be indicative of is that the trading house is willing to sacrifice some revenue and profits on the big game as a customer acquisition tool. Indeed, the Super Bowl is a prime customer acquisition avenue for sportsbook operators.
This year, there may be catches with that strategy. Some analysts are forecasting a modest decline in Super Bowl handle while warning that the customers sportsbooks acquire by way of the big game aren’t always the best long-term. That trend could hold true for event contract firms, too.
“Users can buy and sell positions at any time to change their mind or lock in gains before an event ends,” according to a statement issued by the financial services company. “Unlike traditional sports bets, prediction markets use probability trading and market-driven pricing, letting users follow sentiment shifts, trade Big Game and related contracts with $0 commission (exchange fees apply), and participate in community features that show aggregated market sentiment and enable discussions on the platform.”
Prediction Markets Scrutiny Intensifying
Some critics may assert that Webull’s commission-free Super Bowl gambit feeds into the notion that prediction markets are blurring the lines between investing and wagering. Those naysayers also point out that prediction markets tap into younger bettors’ and traders’ embrace of sports betting and their penchants for trading speculative assets such as small-cap stocks and memecoins.
The average Webull client is a member of Gen Z and the platform is among those some industry observers view as “gamified,” which is appealing to younger investors.
Gamification of investing apps, regardless of the presence of prediction markets, adds an element of fun to financial markets, but critics worry that strategy potentially encourages elevated risk taking and can lead some clients down troubling paths.
