Sleeper

Sleeper is a cftc-regulated event contracts that lets users take positions on the outcomes of real-world events — sports, politics, economics, and culture. Founded in 2017, it operates under U.S. federal commodities law, which makes it available to traders in every state, including California.

What sets Sleeper apart is its positioning: sports-first. social-native. built for the group chat.. That's not marketing copy — it's reflected in the product, the markets offered, and the kind of trader who sticks around.

Yes. Sleeper operates as a CFTC-regulated venue, which means it falls under federal commodities law rather than state gambling law. California's lack of a legal online sportsbook doesn't apply here — event contracts are a different financial instrument with different regulators.

That said, the legal picture is still being contested. Some state attorneys general have challenged certain platforms; the CFTC has consistently defended its jurisdiction. For the full backdrop, see our California legality guide.

Sleeper covers Sports, Social, NFL, NBA. New markets are added weekly.

Practically, that means contracts on game outcomes, championship futures, player and team milestones, election results, Fed decisions, inflation prints, award shows, and cultural events.

Every contract on Sleeper resolves to either $1 (yes) or $0 (no). The price you pay reflects the market's implied probability - a contract at 62¢ means a 62% chance.

You don't have to hold to resolution. You can sell at any time — if the price moves to 78¢, you can lock in the gain. This is the single biggest mental shift from sportsbook betting: you're trading a price, not placing a wager. For the full mechanic, read how event contracts work.

Sleeper charges fees on a per-contract basis, typically a small fraction of a cent per contract or a low percentage of the trade. Compared to a sportsbook's 5-10% built-in vig, the fee structure is dramatically more transparent.

Liquidity varies by market — high-profile events like presidential elections or playoff series are deep, while niche markets can be thin. Always check the bid-ask spread before taking a position.

Yes. Sleeper is regulated by the CFTC, segregates customer funds, and is required to meet federal compliance and reporting standards.

That regulatory backstop is the single biggest reason California traders choose CFTC-regulated venues over offshore sportsbooks, which operate outside U.S. consumer protection.

Sleeper is best for nfl and nba contracts, group-chat trading, and fantasy-style players.

If that profile fits you, Sleeper earns its 4.5/5 rating and belongs in your account rotation.

Sleeper is not ideal for politics and macro traders or solo high-volume traders.

If that's you, browse our full platform rankings for a better fit.

Sleeper and Rebet are both CFTC-regulated event-contract venues, but they target different traders. See our full Sleeper vs Rebet comparison.

In short: Sleeper excels at nfl and nba contracts, while Rebet is typically the default for broader U.S. coverage and brand recognition.

Full Sleeper vs Rebet comparison →

Sleeper is launching soon for U.S. traders. Sign up for launch notifications through our affiliate link to be among the first to access markets when they go live.

You must be at least 21 years old. Read terms before funding your account.

Sleeper provides deposit limits, self-exclusion options, and links to support resources. If trading stops being fun, take a break. Call 1-800-GAMBLER or visit ncpgambling.org.

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Best for NFL, NBA, and under-30 sports fans. Sleeper earns 4.5 out of 5 in our rankings — a strong choice if you fit the profile.