The wildcard picks will be domestic players, with recent form in the T20 Blast expected to be rewarded.
The most intriguing decision will be whether any of the men’s franchises opt to sign veteran bowler James Anderson.
After retiring from international duty last year and playing in the T20 format for the first time in 11 years, England’s record wicket-taker has taken 13 wickets in six Blast matches for Lancashire this season.
Northamptonshire seamer Ben Sanderson, 36, is the joint-highest wicket-taker in the Blast this season but does not have a Hundred deal.
Another currently without a deal is Hampshire’s 23-year-old wicketkeeper Tom Albert, who scored 98 not out against Glamorgan on Sunday and is third on the list of most runs.
Seventeen-year-old Rocky Flintoff, son of legendary former England all-rounder Andrew, will also hope to be picked up, having scored 107 for England Under-19s last week.
Trent Rockets have the first pick in the men’s wildcard draft while Southern Brave will have first chance in the women’s. The draft takes place on Tuesday from 09:00 BST.
