This work analyzes charismatic claims to continuing prophetic revelation today. It does so by considering key charismatic texts in the New Testament. It shows by careful analysis of charismatic arguments that the gift of prophecy in the Apostolic church involved inspired revelation and that the gift ceased with the closing of the canon. It provides a special analysis of and rebuttal to the major arguments in Wayne Grudem's important work, "The Gift of Prophecy in the New Testament and Today."