HOW TO BET ON POLYMARKET: A COMPLETE TUTORIAL

Is Polymarket legal in the US?

Available to eligible residents (as of October 3, 2026); check current state rules. Polymarket received a CFTC license in 2025 via its acquisition of QCX and is available in 49 US states plus DC (Nevada excluded). KYC is required for all US accounts.

TL;DR:

Download the Polymarket US app, complete full ID verification, deposit US dollars from the app's deposit screen, and place your first trade. Polymarket US is a CFTC-regulated exchange, trades in dollars, and is available in 49 states plus DC (Nevada excluded).

Why Polymarket

Polymarket is one of the world's two largest prediction markets — roughly $8.6B traded in July 2026 and $58.5B year-to-date, behind Kalshi's $41.1B month (DeFi Rate). US traders use the Polymarket US app — a CFTC-regulated exchange that funds and trades in US dollars — and it consistently has the tightest spreads on flagship markets like the 2026 World Cup, the 2028 election, and Fed rate decisions. For a deeper assessment, see our full Polymarket review or how it stacks up in Polymarket vs Kalshi.

If you've never traded a prediction market before, this guide takes you from download to your first trade, then back out to cash.

New here? Sign up at Polymarket US and use code WIN for a $25 trading bonus on your first $10 deposit.

Polymarket: deposit $10, get a $25 trading bonus with code WIN

18+ Only. Restrictions and eligibility requirements apply. Not available in all jurisdictions. Trading is risky. 100% loss can occur. See polymarket.com/tos for more information. The Polymarket US App serves as an independent software provider and affiliate of Polymarket US and Polymarket Clearing, the CFTC-regulated exchange and clearing organization.

Step 1 — Create your account

Download the Polymarket US app and create an account. (The international polymarket.com site uses USDC and is not for US users.)

Complete full ID verification in the app. Every US user must verify identity before trading.

Step 2 — Fund your account in dollars

Polymarket US funds and trades in US dollars — no crypto needed. Funding takes three taps — full breakdown in our Polymarket deposit guide:

• Open Deposit in the app
• Pick a payment option from the ones the app lists for your account
• Check the screen and confirm — it shows any fee, the minimum and the expected arrival time. Deposit $10 to unlock the $25 trading bonus.

Step 3 — Place your first trade

Browse markets by category. Each market has a YES price and a NO price between 1¢ and 99¢ — those are the market's probability estimates. Buy YES if you think the event is more likely than the price implies; buy NO if you think it's less likely.

Start small. Even $5–$20 is enough to feel the mechanics. Before you confirm, the order screen shows what you'll pay — check it, and the app's fee details, rather than relying on numbers from third-party sites.

Each contract pays exactly $1 if it resolves YES, $0 if NO. Buy at 40¢, sell at 80¢ → you doubled your money.

Step 4 — Sell or hold to settlement

You don't have to wait for the event to settle. Sell back into the order book any time the market is open and pocket the difference. Holding to resolution pays out the full $1 per contract automatically, cleared by Polymarket Clearing, the CFTC-regulated clearing organization.

Step 5 — Cash out

Your balance is in dollars, so cashing out happens from the withdraw screen in the app — check it for the methods, fees and timing on offer. Full step-by-step in our Polymarket withdrawal guide.

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Frequently asked questions

Is Polymarket legal in the US?

Available to eligible residents (as of October 3, 2026); check current state rules. Polymarket received a CFTC license in 2025 via its acquisition of QCX and is available in 49 US states plus DC (Nevada excluded). KYC is required for all US accounts.

What's the minimum deposit on Polymarket?

Check the deposit screen in the Polymarket US app for the current minimum. To unlock our offer, deposit $10 and get a $25 trading bonus.

Do I need to know crypto to use Polymarket?

No. Polymarket US funds and trades in US dollars inside the app, so you don't need any crypto experience or crypto account.

How long does it take to start trading?

Most people can go from download to first trade in one sitting. ID verification is usually the step that takes longest; after your deposit clears, you can trade right away.

What fees does Polymarket charge?

Check the app: the order screen shows what you'll pay before you confirm, and the deposit and withdraw screens show any fees for each method. We don't quote numbers for Polymarket US because they can change.

Can I lose more than I deposit?

No. Maximum loss is the price you paid per contract. There's no leverage and no margin calls — every position is paid for in full, in dollars, when you buy it.