I have a Volt on Sprint Prepaid. I was surprised to find that wifi hotspot is available in the system settings, and works fine without any 3rd party software. Apparently it is automatically enabled on Sprint Prepaid phones, so this is a benefit of using Sprint Prepaid instead of Boost/VM. Here is the info straight from the Sprint Prepaid website:
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How do I get Hotspot functionality?
Hotspot is automatically included as part of your monthly plan and available only for hotspot-enabled devices. Remember that using hotspot will count toward your plan's monthly data allotment. Portable Wi-Fi® hotspot feature allows you to share your mobile device's data connection with other devices by turning your device into a wireless access point. You can connect up to five wireless devices via Wi-Fi.
Is there an added cost for Hotspot?
There is no additional cost for hotspot service. Remember that using hotspot will count toward your plan's data allotment.
What devices is Hotspot available on?
Currently, mobile hotspot is available on all SPP devices except for: Alcatel Retro, Kyocera Kona, Samsung Galaxy® S5 and LG G3 Spark. Check with your retailer or here for an updated list.