diff --git a/web/components/challenges/create-challenge-modal.tsx b/web/components/challenges/create-challenge-modal.tsx
index e93ec314..b1ac7704 100644
--- a/web/components/challenges/create-challenge-modal.tsx
+++ b/web/components/challenges/create-challenge-modal.tsx
@@ -11,7 +11,7 @@ import { User } from 'common/user'
 import { Modal } from 'web/components/layout/modal'
 import { Button } from '../button'
 import { createChallenge, getChallengeUrl } from 'web/lib/firebase/challenges'
-import { BinaryContract } from 'common/contract'
+import { BinaryContract, MAX_QUESTION_LENGTH } from 'common/contract'
 import { SiteLink } from 'web/components/site-link'
 import { formatMoney } from 'common/util/format'
 import { NoLabel, YesLabel } from '../outcome-label'
@@ -19,24 +19,32 @@ import { QRCode } from '../qr-code'
 import { copyToClipboard } from 'web/lib/util/copy'
 import { AmountInput } from '../amount-input'
 import { getProbability } from 'common/calculate'
+import { createMarket } from 'web/lib/firebase/api'
+import { removeUndefinedProps } from 'common/util/object'
+import { FIXED_ANTE } from 'common/antes'
+import Textarea from 'react-expanding-textarea'
+import { useTextEditor } from 'web/components/editor'
+import { LoadingIndicator } from 'web/components/loading-indicator'
 import { track } from 'web/lib/service/analytics'
 
 type challengeInfo = {
   amount: number
   expiresTime: number | null
-  message: string
   outcome: 'YES' | 'NO' | number
   acceptorAmount: number
+  question: string
 }
 
 export function CreateChallengeModal(props: {
   user: User | null | undefined
-  contract: BinaryContract
   isOpen: boolean
   setOpen: (open: boolean) => void
+  contract?: BinaryContract
 }) {
   const { user, contract, isOpen, setOpen } = props
   const [challengeSlug, setChallengeSlug] = useState('')
+  const [loading, setLoading] = useState(false)
+  const { editor } = useTextEditor({ placeholder: '' })
 
   return (
     <Modal open={isOpen} setOpen={setOpen}>
@@ -46,24 +54,42 @@ export function CreateChallengeModal(props: {
           <CreateChallengeForm
             user={user}
             contract={contract}
+            loading={loading}
             onCreate={async (newChallenge) => {
-              const challenge = await createChallenge({
-                creator: user,
-                creatorAmount: newChallenge.amount,
-                expiresTime: newChallenge.expiresTime,
-                message: newChallenge.message,
-                acceptorAmount: newChallenge.acceptorAmount,
-                outcome: newChallenge.outcome,
-                contract: contract,
-              })
-              if (challenge) {
-                setChallengeSlug(getChallengeUrl(challenge))
-                track('challenge created', {
-                  creator: user.username,
-                  amount: newChallenge.amount,
-                  contractId: contract.id,
+              setLoading(true)
+              try {
+                const challengeContract = contract
+                  ? contract
+                  : await createMarket(
+                      removeUndefinedProps({
+                        question: newChallenge.question,
+                        outcomeType: 'BINARY',
+                        initialProb: 50,
+                        description: editor?.getJSON(),
+                        ante: FIXED_ANTE,
+                        closeTime: dayjs().add(30, 'day').valueOf(),
+                      })
+                    )
+                const challenge = await createChallenge({
+                  creator: user,
+                  creatorAmount: newChallenge.amount,
+                  expiresTime: newChallenge.expiresTime,
+                  acceptorAmount: newChallenge.acceptorAmount,
+                  outcome: newChallenge.outcome,
+                  contract: challengeContract as BinaryContract,
                 })
+                if (challenge) {
+                  setChallengeSlug(getChallengeUrl(challenge))
+                  track('challenge created', {
+                    creator: user.username,
+                    amount: newChallenge.amount,
+                    contractId: challengeContract.id,
+                  })
+                }
+              } catch (e) {
+                console.error("couldn't create market/challenge:", e)
               }
+              setLoading(false)
             }}
             challengeSlug={challengeSlug}
           />
@@ -75,25 +101,24 @@ export function CreateChallengeModal(props: {
 
 function CreateChallengeForm(props: {
   user: User
-  contract: BinaryContract
   onCreate: (m: challengeInfo) => Promise<void>
   challengeSlug: string
+  loading: boolean
+  contract?: BinaryContract
 }) {
-  const { user, onCreate, contract, challengeSlug } = props
+  const { user, onCreate, contract, challengeSlug, loading } = props
   const [isCreating, setIsCreating] = useState(false)
   const [finishedCreating, setFinishedCreating] = useState(false)
   const [error, setError] = useState<string>('')
   const [editingAcceptorAmount, setEditingAcceptorAmount] = useState(false)
   const defaultExpire = 'week'
 
-  const defaultMessage = `${user.name} is challenging you to a bet! Do you think ${contract.question}`
-
   const [challengeInfo, setChallengeInfo] = useState<challengeInfo>({
     expiresTime: dayjs().add(2, defaultExpire).valueOf(),
     outcome: 'YES',
     amount: 100,
     acceptorAmount: 100,
-    message: defaultMessage,
+    question: contract ? contract.question : '',
   })
   useEffect(() => {
     setError('')
@@ -106,7 +131,15 @@ function CreateChallengeForm(props: {
           onSubmit={(e) => {
             e.preventDefault()
             if (user.balance < challengeInfo.amount) {
-              setError('You do not have enough mana to create this challenge')
+              setError("You don't have enough mana to create this challenge")
+              return
+            }
+            if (!contract && user.balance < FIXED_ANTE + challengeInfo.amount) {
+              setError(
+                `You don't have enough mana to create this challenge and market. You need ${formatMoney(
+                  FIXED_ANTE + challengeInfo.amount
+                )}`
+              )
               return
             }
             setIsCreating(true)
@@ -118,7 +151,23 @@ function CreateChallengeForm(props: {
 
           <div className="mb-8">
             Challenge a friend to bet on{' '}
-            <span className="underline">{contract.question}</span>
+            {contract ? (
+              <span className="underline">{contract.question}</span>
+            ) : (
+              <Textarea
+                placeholder="e.g. Will a Democrat be the next president?"
+                className="input input-bordered mt-1 w-full resize-none"
+                autoFocus={true}
+                maxLength={MAX_QUESTION_LENGTH}
+                value={challengeInfo.question}
+                onChange={(e) =>
+                  setChallengeInfo({
+                    ...challengeInfo,
+                    question: e.target.value,
+                  })
+                }
+              />
+            )}
           </div>
 
           <div className="mt-2 flex flex-col flex-wrap justify-center gap-x-5 gap-y-2">
@@ -187,22 +236,23 @@ function CreateChallengeForm(props: {
               {challengeInfo.outcome === 'YES' ? <NoLabel /> : <YesLabel />}
             </Row>
           </div>
-          <Button
-            size="2xs"
-            color="gray"
-            onClick={() => {
-              setEditingAcceptorAmount(true)
-
-              const p = getProbability(contract)
-              const prob = challengeInfo.outcome === 'YES' ? p : 1 - p
-              const { amount } = challengeInfo
-              const acceptorAmount = Math.round(amount / prob - amount)
-              setChallengeInfo({ ...challengeInfo, acceptorAmount })
-            }}
-          >
-            Use market odds
-          </Button>
+          {contract && (
+            <Button
+              size="2xs"
+              color="gray"
+              onClick={() => {
+                setEditingAcceptorAmount(true)
 
+                const p = getProbability(contract)
+                const prob = challengeInfo.outcome === 'YES' ? p : 1 - p
+                const { amount } = challengeInfo
+                const acceptorAmount = Math.round(amount / prob - amount)
+                setChallengeInfo({ ...challengeInfo, acceptorAmount })
+              }}
+            >
+              Use market odds
+            </Button>
+          )}
           <div className="mt-8">
             If the challenge is accepted, whoever is right will earn{' '}
             <span className="font-semibold">
@@ -210,7 +260,18 @@ function CreateChallengeForm(props: {
                 challengeInfo.acceptorAmount + challengeInfo.amount || 0
               )}
             </span>{' '}
-            in total.
+            in total.{' '}
+            <span>
+              {!contract && (
+                <span>
+                  Because there's no market yet, you'll be charged
+                  <span className={'mx-1 font-semibold'}>
+                    {formatMoney(FIXED_ANTE)}
+                  </span>
+                  to create it.
+                </span>
+              )}
+            </span>
           </div>
 
           <Row className="mt-8 items-center">
@@ -218,10 +279,8 @@ function CreateChallengeForm(props: {
               type="submit"
               color={'gradient'}
               size="xl"
-              className={clsx(
-                'whitespace-nowrap drop-shadow-md',
-                isCreating ? 'disabled' : ''
-              )}
+              disabled={isCreating || challengeInfo.question === ''}
+              className={clsx('whitespace-nowrap drop-shadow-md')}
             >
               Create challenge bet
             </Button>
@@ -229,7 +288,12 @@ function CreateChallengeForm(props: {
           <Row className={'text-error'}>{error} </Row>
         </form>
       )}
-      {finishedCreating && (
+      {loading && (
+        <Col className={'h-56 w-full items-center justify-center'}>
+          <LoadingIndicator />
+        </Col>
+      )}
+      {finishedCreating && !loading && (
         <>
           <Title className="!my-0" text="Challenge Created!" />
 
diff --git a/web/lib/firebase/challenges.ts b/web/lib/firebase/challenges.ts
index 89da7f80..0d0fb9ed 100644
--- a/web/lib/firebase/challenges.ts
+++ b/web/lib/firebase/challenges.ts
@@ -29,13 +29,11 @@ export async function createChallenge(data: {
   creatorAmount: number
   acceptorAmount: number
   expiresTime: number | null
-  message: string
 }) {
   const {
     creator,
     creatorAmount,
     expiresTime,
-    message,
     contract,
     outcome,
     acceptorAmount,
@@ -73,7 +71,7 @@ export async function createChallenge(data: {
     acceptedByUserIds: [],
     acceptances: [],
     isResolved: false,
-    message,
+    message: '',
   }
 
   await setDoc(doc(challenges(contract.id), slug), challenge)
diff --git a/web/pages/challenges/index.tsx b/web/pages/challenges/index.tsx
index 9fe68ff0..f3ab8ac1 100644
--- a/web/pages/challenges/index.tsx
+++ b/web/pages/challenges/index.tsx
@@ -16,7 +16,7 @@ import {
   useAcceptedChallenges,
   useUserChallenges,
 } from 'web/lib/firebase/challenges'
-import { Challenge } from 'common/challenge'
+import { Challenge, CHALLENGES_ENABLED } from 'common/challenge'
 import { Tabs } from 'web/components/layout/tabs'
 import { SiteLink } from 'web/components/site-link'
 import { UserLink } from 'web/components/user-page'
@@ -29,6 +29,7 @@ import { copyToClipboard } from 'web/lib/util/copy'
 import toast from 'react-hot-toast'
 import { Modal } from 'web/components/layout/modal'
 import { QRCode } from 'web/components/qr-code'
+import { CreateChallengeModal } from 'web/components/challenges/create-challenge-modal'
 
 dayjs.extend(customParseFormat)
 const columnClass = 'sm:px-5 px-2 py-3.5 max-w-[100px] truncate'
@@ -37,6 +38,7 @@ const amountClass = columnClass + ' max-w-[75px] font-bold'
 export default function ChallengesListPage() {
   const user = useUser()
   const challenges = useAcceptedChallenges()
+  const [open, setOpen] = React.useState(false)
   const userChallenges = useUserChallenges(user?.id)
     .concat(
       user ? challenges.filter((c) => c.acceptances[0].userId === user.id) : []
@@ -70,6 +72,16 @@ export default function ChallengesListPage() {
       <Col className="w-full px-8">
         <Row className="items-center justify-between">
           <Title text="Challenges" />
+          {CHALLENGES_ENABLED && (
+            <Button size="lg" color="gradient" onClick={() => setOpen(true)}>
+              Create Challenge
+              <CreateChallengeModal
+                isOpen={open}
+                setOpen={setOpen}
+                user={user}
+              />
+            </Button>
+          )}
         </Row>
         <p>
           <SiteLink className={'font-bold'} href={'/home'}>