Prophets are not limited to the Old Testament as per popular belief. Prophets exists in the New Testament after Christ had risen and will continue to minister to the Church until the second coming of Christ.
We are called to desire the gift of prophesy
So, my brothers, earnestly desire to prophesy, and do not forbid speaking in tongues. – 1 Corinthians 14:39, ESV.
We should not despise prophecies
Do not despise prophecies, but test everything; hold fast what is good. – 1 Thessalonians 5:20-21, ESV.
Prophecies were made about Timothy
This charge I entrust to you, Timothy, my child, in accordance with the prophecies previously made about you, that by them you may wage the good warfare, – 1 Timothy 1:18, ESV.
Do not neglect the gift you have, which was given you by prophecy when the council of elders laid their hands on you. – 1 Timothy 4:14, ESV.
This is how we should receive Prophets
The one who receives a prophet because he is a prophet will receive a prophet’s reward, and the one who receives a righteous person because he is a righteous person will receive a righteous person’s reward. – Matthew 10:41, ESV.
There will be prophets in the last days
“‘And in the last days it shall be, God declares, that I will pour out my Spirit on all flesh, and your sons and your daughters shall prophesy, and your young men shall see visions, and your old men shall dream dreams; even on my male servants and female servants in those days I will pour out my Spirit, and they shall prophesy. – Acts 2:17-18, ESV.
Some accounts of prophets that have lived after Christ
Now in these days prophets came down from Jerusalem to Antioch. – Acts 11:27, ESV.
Now there were in the church at Antioch prophets and teachers, Barnabas, Simeon who was called Niger, Lucius of Cyrene, Manaen a lifelong friend of Herod the tetrarch, and Saul. – Acts 13:1, ESV.
He had four unmarried daughters, who prophesied. – Acts 21:9, ESV.
When believers receives the Holy Spirit, they will begin prophesying
And when Paul had laid his hands on them, the Holy Spirit came on them, and they began speaking in tongues and prophesying. – Acts 19:6, ESV.
Prophets that lived after Christ prophesying about future events
While we were staying for many days, a prophet named Agabus came down from Judea. And coming to us, he took Paul’s belt and bound his own feet and hands and said, “Thus says the Holy Spirit, ‘This is how the Jews at Jerusalem will bind the man who owns this belt and deliver him into the hands of the Gentiles.'” – Acts 21:10-11, ESV.
Prophesying is a gift from the Holy Spirit
Having gifts that differ according to the grace given to us, let us use them: if prophecy, in proportion to our faith; – Romans 12:6, ESV.
For to one is given through the Spirit the utterance of wisdom, and to another the utterance of knowledge according to the same Spirit,… to another prophecy, to another the ability to distinguish between spirits, to another various kinds of tongues, to another the interpretation of tongues. – 1 Corinthians 12:8-10, ESV.
Prophets are appointed by God
And God has appointed in the church first apostles, second prophets, third teachers, then miracles, then gifts of healing, helping, administrating, and various kinds of tongues. Are all apostles? Are all prophets? Are all teachers? Do all work miracles? – 1 Corinthians 12:28-29, ESV.
Prophesy complements knowledge
For we know in part and we prophesy in part, but when the perfect comes, the partial will pass away. – 1 Corinthians 13:9-10, ESV.
God may grant us the gift of prophesy when we pursue love and spiritual gifts
Pursue love, and earnestly desire the spiritual gifts, especially that you may prophesy. – 1 Corinthians 14:1, ESV.
Prophesy edifies the church
On the other hand, the one who prophesies speaks to people for their upbuilding and encouragement and consolation. The one who speaks in a tongue builds up himself, but the one who prophesies builds up the church. – 1 Corinthians 14:3-4, ESV.
And he gave the apostles, the prophets, the evangelists, the shepherds and teachers, to equip the saints for the work of ministry, for building up the body of Christ, – Ephesians 4:11-12, ESV
For you can all prophesy one by one, so that all may learn and all be encouraged, and the spirits of prophets are subject to prophets. – 1 Corinthians 14:31-32, ESV.
Prophesy is a sign for the Church
Thus tongues are a sign not for believers but for unbelievers, while prophecy is a sign not for unbelievers but for believers. – 1 Corinthians 14:22, ESV.
Prophesy brings unbelievers to God
But if all prophesy, and an unbeliever or outsider enters, he is convicted by all, he is called to account by all, the secrets of his heart are disclosed, and so, falling on his face, he will worship God and declare that God is really among you. – 1 Corinthians 14:24-25, ESV.
Etiquettes for Prophesying
Every man who prays or prophesies with his head covered dishonors his head, but every wife who prays or prophesies with her head uncovered dishonors her head, since it is the same as if her head were shaven. – 1 Corinthians 11:4-5, ESV.