Polymarket FAQ: Every Question Answered
This is the most comprehensive Polymarket FAQ available. We have compiled 50 questions covering every aspect of the platform — from basic setup to advanced trading. Whether you are a complete beginner or an experienced trader, you will find answers here.
For detailed guides on specific topics, we link to our in-depth articles throughout.
Getting Started
1. What is Polymarket?
Polymarket is the world's largest prediction market platform. It lets you trade on real-world event outcomes — politics, economics, sports, crypto, and more. Share prices represent probabilities, and winning shares pay $1.00.
2. How does Polymarket work?
Every market asks a yes-or-no question. You buy YES or NO shares priced between $0.01 and $1.00. If your side wins, shares pay $1.00. The price reflects the crowd's probability estimate. Learn more in our complete guide.
3. Is Polymarket free to use?
Yes. There are no account fees, subscription charges, or trading commissions. The only costs are bid-ask spreads (present on all exchanges), negligible Polygon gas fees, and optional card deposit fees. See our fees guide.
4. How do I sign up for Polymarket?
Visit polymarket.com, click Sign Up, and register with your email or connect a crypto wallet. Complete identity verification (KYC) to enable trading. The whole process takes under 10 minutes. See our sign-up guide.
5. Do I need crypto experience to use Polymarket?
No. You can sign up with an email address (a wallet is created automatically) and deposit with a debit card. No prior crypto knowledge required.
6. What is the minimum deposit?
There is no strict minimum. However, we recommend $20-$50 to have enough capital to explore several markets. Very small deposits may not be practical after card processing fees.
7. How do I deposit money?
Deposit via debit card (USDC purchased automatically) or by sending USDC on the Polygon network to your Polymarket wallet. See our deposit guide.
8. What is USDC?
USDC (USD Coin) is a stablecoin worth $1.00 USD. It is Polymarket's trading currency. Issued by Circle and backed by cash and US Treasury reserves. See our USDC guide.
9. What blockchain does Polymarket use?
Polymarket runs on the Polygon blockchain (formerly Matic). Polygon offers fast transactions and extremely low fees compared to Ethereum mainnet.
10. Is Polymarket available in my country?
Polymarket is available in most countries worldwide. The main exception is the United States, where real-money trading is restricted. See our legality guide.
Trading Basics
11. How do I place a trade?
Select a market, choose YES or NO, enter your trade amount, review the expected payout, and confirm. Your shares appear in your portfolio instantly. See our step-by-step guide.
12. What are YES and NO shares?
YES shares pay $1.00 if the event happens. NO shares pay $1.00 if it does not. Their prices always sum to approximately $1.00.
13. How are prices determined?
Prices are set by supply and demand on Polymarket's central limit order book (CLOB). When more people buy YES, the price rises. When more sell, it falls. The price represents the crowd's probability estimate.
14. What does a price of $0.65 mean?
It means the market collectively estimates a 65% probability that the event will happen. If you buy YES at $0.65 and it happens, you profit $0.35 per share.
15. Can I sell my shares before a market resolves?
Yes. You can sell shares at any time at the current market price. You do not have to wait for resolution. This allows you to lock in profits or cut losses early.
16. What is a limit order?
A limit order lets you specify the exact price at which you want to buy or sell. Your order sits in the order book until someone matches it. Limit orders help you get better prices but may not execute immediately.
17. What is a market order?
A market order executes immediately at the best available price. It guarantees execution but you may get a slightly worse price than a limit order, especially in low-liquidity markets.
18. What is the order book?
The order book displays all open buy and sell orders for a market. It shows the depth of liquidity at each price level and helps you understand how easy it is to enter or exit a position.
19. What is liquidity?
Liquidity measures how easily you can buy or sell without significantly moving the price. Markets with many active traders and tight bid-ask spreads have high liquidity.
20. What is volume?
Volume is the total amount of money traded in a market. Higher volume generally indicates more reliable pricing because more information has been incorporated.
Account and Security
21. Is Polymarket safe?
Polymarket has a strong security record with no breaches since its 2020 launch. Funds are held in audited smart contracts, not by the company. However, the platform is not regulated. See our safety guide.
22. Is Polymarket regulated?
No. Polymarket is not regulated by the CFTC, SEC, or any financial authority. For regulated prediction market trading, consider Kalshi. See our Polymarket vs Kalshi comparison.
23. Is Polymarket legit?
Yes. Polymarket has operated since 2020, processed billions in trading volume, and is used by traders, journalists, and researchers worldwide. Its odds are regularly cited by major media outlets.
24. What is KYC and do I need it?
KYC (Know Your Customer) is identity verification. Yes, you need it to deposit, trade, and withdraw on Polymarket. It typically takes 2-5 minutes. See our KYC guide.
25. Can US residents use Polymarket?
US residents can browse markets and view odds but cannot trade with real money. This restriction exists due to Polymarket's 2022 CFTC settlement. US residents should use Kalshi.
26. How does Polymarket protect my funds?
Funds are held in audited smart contracts on the Polygon blockchain, not in Polymarket's bank account. All transactions are publicly verifiable on-chain.
27. Can I use Polymarket with a VPN?
Using a VPN to bypass geographic restrictions violates Polymarket's terms of service and could result in account termination and loss of funds. We do not recommend this.
28. What happens if Polymarket shuts down?
Since funds are held in smart contracts, they should be recoverable even if the Polymarket company ceases operations. However, market resolution would be disrupted, and locked positions might become difficult to close.
Fees and Costs
29. Does Polymarket charge trading fees?
No. Polymarket charges zero trading fees or commissions. See our detailed fees breakdown.
30. What are the hidden costs?
There are no hidden fees. The real costs are bid-ask spreads (present on all exchanges), Polygon gas (~$0.01), and card deposit fees (1-3% if using a card). All are transparent.
31. How much does it cost to withdraw?
Polymarket charges no withdrawal fee. You pay only the Polygon gas fee (fractions of a cent). Your receiving exchange may charge its own fees for deposits or fiat conversion.
32. How does Polymarket make money?
Through market-making activities (profiting from spreads), data licensing, and venture capital funding. The zero-fee model is supported by Polymarket's focus on volume growth and platform adoption.
Market Resolution
33. How are markets resolved?
Polymarket uses UMA, a decentralized oracle system. Anyone can propose a resolution, which enters a challenge period. If disputed, UMA token holders vote on the correct outcome.
34. What happens when I win?
Winning shares automatically pay $1.00 each. The USDC is credited to your Polymarket wallet and can be withdrawn or used for new trades immediately.
35. What happens when I lose?
Losing shares become worthless ($0.00). You lose the amount you paid for those shares. You cannot lose more than your initial investment on any trade.
36. What if a market resolution is disputed?
Disputes are handled through UMA's oracle system. Token holders vote on the correct outcome. This process can delay resolution but has historically produced accurate results.
37. Can a market be voided?
In rare cases, markets may be resolved as "invalid" if the question is deemed unanswerable or the resolution criteria are fundamentally flawed. In these cases, shares are typically refunded at cost.
Deposits and Withdrawals
38. How long do deposits take?
Card deposits: 1-5 minutes. Crypto deposits (USDC on Polygon): 1-2 minutes. Bridging from other networks: 5-20 minutes. See our deposit guide.
39. How long do withdrawals take?
Withdrawals to a Polygon wallet: 1-5 minutes. Converting to fiat and withdrawing to your bank (via an exchange): additional 1-3 business days. See our withdrawal guide.
40. Can I withdraw to a bank account directly?
No. You must withdraw USDC to a crypto exchange, sell it for fiat currency, and then transfer to your bank. The process is straightforward but requires an exchange account.
41. What if my card deposit is declined?
Contact your bank to authorize crypto-related transactions, try a different card, or deposit USDC directly via crypto. Some banks automatically block crypto purchases.
42. Which network should I use for deposits?
Always use the Polygon network. USDC sent on Ethereum mainnet, Arbitrum, Solana, or other networks will not arrive in your Polymarket wallet.
Strategy and Trading
43. How do I make money on Polymarket?
Find markets where you believe the price is wrong (your edge), size positions using the Kelly Criterion, diversify across markets, and manage your bankroll carefully. See our money-making strategies guide.
44. What is expected value?
Expected value (EV) is the average profit per trade if repeated many times. Positive EV trades are profitable long-term. EV = (your probability x profit) - (1 - your probability x loss). See our odds reading guide.
45. What is the Kelly Criterion?
A mathematical formula for optimal position sizing: Kelly % = (bp - q) / b. It maximizes long-term bankroll growth while controlling risk. Most traders use half-Kelly for safety.
46. Should I diversify across markets?
Yes. Even 80% probability events fail one in five times. Spreading your capital across multiple markets reduces variance and protects your bankroll.
47. Can I do arbitrage on prediction markets?
Yes. When the same event is priced differently on Polymarket and another platform, you can sometimes lock in risk-free profit by buying on both sides. These opportunities are rare and close quickly.
Platform Features
48. Does Polymarket have a mobile app?
Yes. Polymarket offers iOS and Android apps with full trading features, portfolio tracking, and push notifications. The mobile web experience is also fully functional. See our mobile app guide.
49. Does Polymarket have an API?
Yes. Polymarket provides REST APIs, WebSocket feeds, and GraphQL subgraphs for developers to access market data, prices, and trading information programmatically. See our API guide.
50. Where can I track Polymarket odds across platforms?
PredMarket.io aggregates prediction market odds from Polymarket, Kalshi, and other platforms, allowing you to compare prices and find the best opportunities in one place.
Start Trading
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