Polymarket Review 2026: Fees, KYC, Access & How It Works
Polymarket is a non-custodial, Polygon-based prediction market where you trade USDC-denominated YES/NO shares on real-world events. The global app charges no platform fees for trading, deposits or withdrawals, but availability depends on jurisdiction based on the latest publicly available information. A separate regulated "Polymarket US" product has a regulatory path, but mass-market rollout depends on final regulatory and state-level implementation. You fund with USDC, trade against other users via a central limit order book, carry normal market risk, and remain exposed to smart-contract, stablecoin and regulatory risk.
Start on Polymarket →Independent informational site. Not affiliated with or endorsed by Polymarket. No financial, legal or tax advice.
What Is Polymarket Right Now?
Polymarket is an on-chain prediction platform where users trade event contracts on topics like elections, macro data releases, interest rate decisions, crypto milestones, sports and tech launches. Each market has outcomes such as YES and NO. Each winning share settles at $1 and each losing share at $0, so prices between $0 and $1 directly reflect implied probabilities plus spread and noise.
The core design is non-custodial. You control a self-hosted wallet that holds USDC on Polygon, and Polymarket provides the front-end, order book and settlement infrastructure. There is no “house” taking the opposite side of your trades. You interact with other traders through a central limit order book where you can place limit and market orders.
Key Polymarket facts (current)
- Platform type: on-chain prediction market, not a traditional sportsbook or CFD broker.
- Collateral: USDC on Polygon (with bridging from Ethereum and some exchanges).
- Fee policy on the global app: no platform fees for trades, deposits or withdrawals.
- Accessibility: availability depends on jurisdiction.
- Governance and backing: venture-backed, with institutional partners and a path toward a regulated US venue.
Global Polymarket vs planned Polymarket US
| Aspect | Global Polymarket (.com) | Planned “Polymarket US” |
|---|---|---|
| Access | Availability depends on jurisdiction. | Expected availability depends on jurisdiction and final implementation. |
| Fees | No platform fees for trading, depositing or withdrawing; you pay only network and on-ramp costs. | Public comments suggest low per-contract fees; exact schedule not published at the time of writing. |
| KYC / AML | Requirements may vary; enforcement is done via IP and geo checks. | Different requirements expected, but details depend on jurisdiction and final implementation. |
Availability depends on jurisdiction. Users should check official channels for current availability and requirements in their jurisdiction.
Start on Polymarket →How Polymarket Works Under the Hood
Polymarket is built on top of Polygon and uses a central limit order book. Behind the clean UI, a set of smart contracts manage markets, positions and settlement. You hold USDC in a wallet controlled by your private key. When you trade, you lock collateral into the outcome tokens of a specific market.
Markets are defined by a clear question (“Will X happen by date Y?”), a set of outcomes, resolution criteria and data sources. When the market resolves, the contracts determine which outcome is correct and allow holders of the winning shares to redeem them for $1 each, while losing shares go to $0.
Lifecycle of a typical trade
- You create or connect a self-custodial wallet that supports Polygon and USDC.
- You deposit USDC using a supported method (exchange withdrawal, bridge, Coinbase, card on-ramp, etc.).
- You choose a market and read the resolution criteria and time horizon carefully.
- You place a limit or market order to buy YES or NO at a price that matches your view.
- Your order matches against other users on the order book; if there is no match, it rests until filled or cancelled.
- You monitor the price and news, optionally trading in and out before resolution.
- When the event is resolved, winning shares become redeemable for $1 each.
- You withdraw USDC back to your wallet and off-ramp or redeploy the capital as you like.
Why traders use Polymarket
- To express views on politics, macro and crypto in a clean, probability-based format.
- To hedge calendar or event risk around elections, rate meetings and key decisions.
- To access data on crowd expectations that can feed trading models and research.
From a technical perspective, Polymarket also exposes data and execution APIs for quant traders, dashboards and analytics tools. This allows programmatic access to order books, positions and trade history, but most users interact only through the main web or app interface.
Start on Polymarket →Polymarket Fees, Costs and Limits
On the global app, Polymarket does not charge explicit platform fees. There are no percentage-of-profit fees, no per-trade commissions and no withdrawal fees charged by Polymarket itself. In practice, you still incur costs via the underlying infrastructure: network gas, bridges, relayers and card or bank processors.
For the upcoming US-specific venue, the platform has indicated that it will use a very low per-contract fee structure to stay competitive with other regulated event-contract exchanges. Exact numbers and caps can change before launch, so they should always be checked in the official fee schedule once it is published.
What you actually pay for on the global app
- Polygon gas fees for deposits, trades and withdrawals (fees may vary).
- Relayer or bridge fees if you move USDC across networks (for example, from Ethereum to Polygon).
- On-ramp and off-ramp fees from card processors, bank transfers, ACH or exchange withdrawals.
- Market impact and spread, especially when you move meaningful size in thin markets.
Fee structure overview
| Fee type | Who charges it? | Comment |
|---|---|---|
| Trading fee (global) | No explicit fee from Polymarket | Spread and price impact are the main implicit costs when entering and exiting positions. |
| Deposit / withdrawal | Networks, bridges, on-ramp providers | Gas, relayer percentages or fixed card/bank fees, depending on the route you use. |
| US venue trading fee | Planned regulated Polymarket US | Expected to be a small per-contract fee; check official documentation once the venue goes live. |
If you trade actively, the dominant cost drivers are spreads and execution quality, not network fees. If you are moving capital on and off the chain frequently, then on-ramp/off-ramp providers and bridges will matter more. Either way, you should benchmark your all-in costs versus position size, rather than focusing only on headline fee claims.
KYC, AML, Access and Geo Restrictions
The regulatory perimeter is an important consideration around Polymarket. Availability depends on jurisdiction. Visitors from some locations may see restrictions and cannot place trades or deposit funds.
Onboarding requirements may vary by jurisdiction. You typically sign up with an email address, create or connect a wallet and can start trading after funding your balance. Compliance is handled mainly through IP-based geo checks and terms of service conditions.
Current high-level policy
- Availability depends on jurisdiction; some jurisdictions may have restrictions.
- Users must comply with platform terms and local regulations.
- Requirements may vary for users, who still must respect their own local regulations.
Region snapshot
| Region / user type | Global app access | KYC status |
|---|---|---|
| Various jurisdictions | Availability depends on jurisdiction. | Requirements may vary and depend on jurisdiction. |
| Other jurisdictions | Availability depends on jurisdiction. | Requirements may vary and depend on jurisdiction. |
| Other jurisdictions | Availability depends on jurisdiction, assuming local law permits and user complies with the terms of service. | Requirements may vary; enforcement via IP checks and account-level controls. |
The best-practice approach is simple: verify availability in your jurisdiction and comply with platform terms and local regulations. Users are responsible for ensuring they comply with applicable laws and platform requirements.
How to Trade on Polymarket Step by Step
The mechanics are straightforward, but the edge is in information quality and discipline. The steps below describe a general flow. Availability depends on jurisdiction. None of this is financial advice; it is a process description.
- Check availability. Availability depends on jurisdiction. Verify current requirements in your location.
- Prepare a wallet. Use a self-custodial wallet that supports Polygon and USDC. Back up the seed phrase offline.
- Sign up on Polymarket. Go to polymarket.com, register, and connect your wallet when prompted.
- Fund with USDC. Deposit USDC from an exchange, use a supported bridge, or rely on Coinbase / card integration.
- Select a market. Focus on questions where you have a real information edge or at least a clear thesis.
- Place a small test trade. Use a size that you can afford to lose while you learn the plumbing.
- Scale cautiously. Only increase stakes after you are comfortable with execution, fills and settlement behaviour.
- Exit or hold to settlement. Decide whether to trade around volatility or hold positions until resolution.
- Withdraw and rotate capital. Pull USDC back to your wallet, bridge or off-ramp as needed, and reassess.
Throughout this process, maintain clear risk limits. The majority of users on any prediction platform will underperform the benchmark of “do nothing”, because good information is scarce and overconfidence is common.
Start on Polymarket →About Polymarket Academy & Methodology
Polymarket Academy is an independent research project focused on documenting how Polymarket works in practice: fees, KYC and geo rules, technical rails, risk profile and real-world usability. The goal is to give traders a clear, document-style overview instead of marketing copy.
Who is behind this page
- Research team with hands-on experience in on-chain markets, prediction platforms and derivatives.
- Focus on primary sources: official Polymarket documentation, regulatory releases and technical audits.
- No affiliation with Polymarket; this site is run independently and funded by its own traffic.
How we build and maintain content
| Signal | What it means here | Practical rule |
|---|---|---|
| Experience | Real usage of on-chain markets, bridges, stablecoins and wallets. | We describe flows exactly as a non-US user would see them in the interface. |
| Expertise | Comfort with derivatives, prediction markets and custody models. | We explain things like fee structure, order books and risk in plain language. |
| Trust | Alignment between claims and verifiable sources. | We avoid promises, price targets or performance guarantees and link back to official rules. |
Conflict of interest & affiliate disclosure
This site uses an affiliate link when you click “Start on Polymarket →”. If you create an account or trade via that link, Polymarket may compensate the site at no extra cost to you. That compensation does not change how we describe risks, fees or restrictions. If anything, it forces us to be more conservative: misleading users is a fast way to lose both traffic and long-term trust.
Polymarket FAQ
Is Polymarket available in my jurisdiction?
Availability depends on jurisdiction. The global Polymarket.com app availability varies by location based on the latest publicly available information. A separate regulated product is being developed, but details and availability depend on jurisdiction and final implementation. Users should check official channels for current availability in their jurisdiction.
Is Polymarket safe?
Polymarket is non-custodial and uses audited smart contracts, which significantly reduces classic exchange counterparty risk. However, you are still exposed to smart-contract failures, oracle problems, stablecoin risk, regulatory action and normal P&L volatility. There is no insurance or guaranteed protection against loss.
What are Polymarket fees right now?
On the global app, Polymarket does not charge trading, deposit or withdrawal fees. Your actual costs come from Polygon gas, bridges and on-ramp/off-ramp providers. For the planned US venue, expect a low per-contract fee structure that will be detailed in official documentation once the venue is launched.
Does Polymarket require KYC?
Requirements may vary. The global app enforces geo restrictions using IP checks and terms of service. The upcoming US venue is expected to have different requirements, but details depend on jurisdiction and final implementation.
What should I know about access requirements?
Availability depends on jurisdiction. Users must comply with platform terms and local regulations. Check official channels for current availability and requirements in your jurisdiction.
What can I trade on Polymarket?
You can trade on politics, macro data, interest rates, crypto events, sports, technology launches and many other real-world outcomes. The common element is that every market has clearly defined resolution criteria and pays out $1 per winning share and $0 per losing share.
How does Polymarket make money?
Today, Polymarket relies mainly on venture backing, partnerships and the broader value of its data and ecosystem. The regulated US venue is expected to add explicit trading fees. Over time, institutional data distribution and other services can also generate revenue.
Does Polymarket have its own token?
As of the latest available information, Polymarket does not have a live native token. There is frequent speculation about a potential future token, but nothing is confirmed. Any real token would need to be clearly announced by Polymarket and would bring its own regulatory and economic implications.