Polymarket is one of the world's two largest prediction markets — a CFTC-licensed exchange where you trade YES/NO contracts on real-world events for USDC.
Yes. Polymarket is a CFTC-licensed exchange (through its QCX acquisition) and is legally available to US residents in 49 states plus DC via its iOS app. Nevada is excluded.
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Polymarket is an online exchange where you buy and sell contracts that pay $1 if an event happens and $0 if it doesn't. The current price is the market's consensus probability — a contract trading at $0.62 means traders collectively price the event at a 62% chance.
It's one of the two largest prediction markets in the world, doing billions in monthly volume. Read our full Polymarket review for the deep dive on fees, app, and bonuses.
Yes. Polymarket holds a CFTC Designated Contract Market (DCM) license through its acquisition of QCX and operates legally in 49 US states plus DC. Nevada is the only excluded state.
US users trade in the Polymarket US app on iOS (iPhone only — no desktop or Android), funded by debit card or ACH. The global web platform serves international users and settles in USDC.
You fund your account with USDC (a US dollar-pegged stablecoin) on the Polygon blockchain. From there, you trade binary YES/NO contracts against other users — there is no house. When the event resolves, winning contracts pay out $1 each in USDC.
Because Polymarket runs on an order book, prices move continuously based on supply and demand. There's no house margin — your cost comes almost entirely from the bid/ask spread.
Politics (US and global elections), crypto prices, Fed and economic data, sports outcomes, awards shows, geopolitical events, weather, even pop-culture markets. New to picking a market? Our how to bet on Polymarket walkthrough covers your first trade.
Both are CFTC-licensed. Polymarket has roughly 10x the volume and tighter spreads, but settles in USDC. Kalshi takes real USD via ACH and is generally cleaner for users who don't want a crypto wallet. See our Polymarket vs Kalshi comparison for the full breakdown.
Yes. Polymarket is a CFTC-licensed exchange (through its QCX acquisition) and is legally available to US residents in 49 states plus DC via its iOS app. Nevada is excluded.
Trading binary YES/NO contracts on real-world events — elections, sports, crypto prices, economic data, awards, geopolitics, and more. Each contract pays $1 if the event happens, $0 if it doesn't.
Polymarket charges no explicit trading fee on most markets — it earns from the bid/ask spread (typically 0.5–1% on liquid markets) and small market-creation/resolution fees.
Yes — Polymarket settles in USDC on the Polygon blockchain. You can fund via card, Coinbase, or bridge, but balances are held as USDC, not USD.
Polymarket is CFTC-licensed and uses non-custodial smart contracts to hold trader funds. The main risks are smart-contract risk on Polygon and standard market risk on your positions.
Catie has spent 15 years covering iGaming, sports betting, and now prediction markets — first as a trade reporter, later as head of editorial at two major industry publications. She has tested every regulated US event exchange since Kalshi's 2021 launch and writes the bulk of PredictionWins' platform reviews and tax explainers.
Reviewed against our editorial policy.
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