Polymarket Review: Is It Legal, How It Works, And What You Can Trade

Prediction markets are taking the world by storm, and Polymarket is a major player in that space. This InGame Polymarket review will tell you everything you need to know ahead of its upcoming relaunch in the United States.

Polymarket has been unavailable in the U.S. since 2022, and once it goes live, you’ll need a crypto wallet to use it. However, once it goes live, you’ll have access to a wide selection of markets at low fees with plenty of sports options at your disposal.

Want to learn more about Polymarket and decide if it’s right for you? Let’s dive in!

Quick review

Polymarket was founded in 2020, but went offline in the U.S. two years later (after a settlement with the Commodity Futures Trading Commission). It’s preparing for a stateside relaunch, but the timing of that is unconfirmed at the moment.

When it does go live in America, though, prediction market enthusiasts will see an extensive selection of markets (including sports markets). Most of its events offer plenty of liquidity, which is necessary to achieve the value you want, as well as an ultra-fast interface that boosts the user experience above and beyond most competitors. In addition, its fees are among the lowest in the industry.

Its drawbacks include varying regional limits and a learning curve with how contracts work. Polymarket itself doesn’t facilitate smart contracts, and you’ll need to be familiar with cryptocurrency and wallets to use the site to its full potential. You can use conventional deposit methods to buy Polymarket’s stablecoin, USDC, but you cannot fund your Polymarket account directly (unlike more traditional sportsbooks and online casinos). In addition, while most markets have strong liquidity, smaller ones can struggle in this regard, and the lack of responsible gambling safeguards is troubling. 

All in all, Polymarket offers a strong experience, but it’s not without its flaws. Keep reading to find out more!

Polymarket general overview and how it works

Check out some Polymarket quick facts in the table below.

When Polymarket relaunches in the United States, you’ll be able to explore a wide variety of markets in sports, politics, and current events.

These markets are created by participants who buy and sell contracts to one another. Those contracts are backed by liquidity, meaning the buyers and sellers of each contract are financing the market. The more liquidity that exists, the stronger the market will be (and the more likely you’ll be able to find the price you want as probabilities change in real-time).

To enter contracts on Polymarket, you’ll need a cryptocurrency wallet and USDC, a “stablecoin” tied to the value of the American dollar. Crypto wallets are available through a variety of exchanges, which also offer USDC coins that can be bought and sold for cash. You won’t be able to use cash directly on Polymarket, since every smart contract lives on its blockchain (rather than the site itself).

If you’re familiar with crypto, this won’t be a problem. If you’re not, though, this process may come as a shock. If you’re looking for a more traditional experience, where balances are maintained on sites themselves, we recommend prediction market platforms like Kalshi.

Polymarket has been planning a U.S. relaunch for several months. However, reports indicate that the site may not go live until after the current government shutdown ends. Some platforms have suggested that a relaunch may not be coming until 2026. Stay tuned for further updates as more news comes out.

Key features of Polymarket

Polymarket presents a new way to enjoy sports. It’s currently not available in the U.S., though, and any future rollout, timing, and/or state coverage is unannounced. Legal challenges are likely, too, so make sure you keep tabs on decisions made by local and state courts.

Unlike Kalshi, which emphasizes “straight-up” outcomes such as wins and losses, Polymarket has readily available point spreads and totals for the NFL, college football, NBA, NHL, MLB, and other major and niche sports leagues. The ability to track which way money is going as an event draws near provides another resource for users, and you can trade and find value during the events as well.

Prediction markets have changed how we forecast events, and sports are no exception. With increased liquidity from a U.S. launch, Polymarket’s offerings will be even more attractive.

Available bonuses and promotions

No Polymarket promos exist yet, with the country off-limits to U.S. customers. However, the site in general doesn’t really rely on bonuses and promotions, and no promo codes are expected to be available upon a relaunch.

Polymarket offers a rewards program for registered users. Place orders to keep markets active and balanced, and the more high-quality offers you make (ones close to each market’s average price), the more rewards you’ll earn. Those are paid out daily.

Polymarket compliance and legality

Polymarket is based in New York and launched in the United States in 2020. However, as mentioned, a CFTC lawsuit threatened to bring the company down, and it ultimately went offline in its home country in 2022.

Over the past few years, Polymarket has gained traction in other countries. Its path to a relaunch in the U.S. was made much easier by the 2025 purchase of QCX LLC, an exchange licensed by the CFTC.

Polymarket isn’t available in America yet, but its relaunch date is coming. Once it goes live, Polymarket will likely face the same lawsuits that have affected competitors such as Kalshi. The verdicts in those cases will likely determine Polymarket’s long-term viability in the U.S. moving forward.

For now, though, access within the U.S. remains blocked. Eligibility and age may vary by region if and when a relaunch happens. This page will be updated with all the info you need to know about the Polymarket relaunch.

Getting started on Polymarket

Creating an account on Polymarket is easy. Follow the steps below:

If your contract is resolved successfully, your wallet will be credited with your profits, which can be cashed out at the same exchange you used for your initial purchase.

Markets offered

Polymarket has the most prediction market options in the industry. That includes sports, from individual games and matches to races for full-season awards. You can enter contracts on teams, players, and special events in major and niche sports, so there’s something for everybody. Whether you want a contract reflecting something you’d see at an online sportsbook or a contract on a market that’s off the beaten path, chances are Polymarket has you covered.

Polymarket’s offerings also extend to a broader stage. If you’re into politics, you likely already know about the extensive election markets available on the site and how liquidity gets tracked, which may reflect real-time odds shifts. You can also shift the focus to current events and pop culture, including awards shows, box-office figures, and more.

Trading mechanics, pricing, and settlement

Prediction markets like Polymarket rely on interest from both sides of a contract. One user buys a contract at a certain price, and another “fills” the order, or agrees to honor it at that price. That ensures market liquidity and fairness for all users on both sides.

If there isn’t enough liquidity in a market, slippage or a difference in price from what’s expected is possible. If your specific order is not filled at its specified price, it may be filled at a different price point that ensures liquidity in the market (one that would be entered into by a user “filling” the order, almost always at lower liability/a lower potential payoff).

Slippage can also occur when new information emerges that significantly alters the probability of a particular outcome. For example, if you’re buying a sports contract and news breaks that a star player will miss the game, prices will likely change almost immediately (similar to the stock market, where prices constantly change based on mass buying and selling).

If an outcome is marked as “correct” in a smart contract, the buyer of the contract is paid. If it is not marked as “correct,” the investment is a losing one, and the user selling the contract is paid. In the sports world, websites for leagues like the NBA and NFL act as the official data sources, and contracts are paid accordingly based on the results they report.

When you’re looking at markets, make sure you read the terms and conditions. Some markets may have specific limits on minimum and maximum contract sizes, while others may use different resolution sources. Finally, make sure you know how to dispute an outcome if there are any issues with your contract.

Polymarket fees

One of Polymarket’s biggest advantages is its lack of trading fees. Kalshi and other operators charge varying fees, but Polymarket never charges a fee to buy or sell a contract on any market. There are also never any fees on deposits or withdrawals on the platform.

Because of the nature of the site, Polymarket does not directly charge deposit or withdrawal fees. Those transactions are handled through one’s crypto wallet and the exchange used to acquire USDC. Those exchanges may have deposit or withdrawal fees, so make sure you do your research before picking one.

The fees to be aware of pertaining to deposits and withdrawals are known as gas fees, which are charged for using Polymarket’s Polygon blockchain network. To cover these, users must invest in MATIC tokens, which are then put in a crypto wallet. These fees, however, are usually quite small, often totaling less than one cent in U.S. dollars. Just make sure you have a few MATIC tokens in your wallet, and you’ll be good to go.

Deposits, withdrawals, and banking

Polymarket deals exclusively in crypto, specifically the USDC “stablecoin.” This coin is tied to the U.S. dollar in value and can be purchased at most reputable cryptocurrency exchanges.

You can link your crypto wallet to Polymarket when creating your account. Polymarket’s website says it supports wallets from platforms such as MetaMask, Coinbase Wallet, and WalletConnect. MetaMask, in fact, entered into an agreement with Polymarket in 2025 that will incorporate Polymarket’s content into the MetaMask mobile app, making the platform, essentially, a one-stop shop for prediction market enthusiasts.

In addition, some exchanges, such as Coinbase, support sending or withdrawing directly to the Polygon network. Polymarket recommends this method for faster and fee-free transactions. Check your exchange to see if it qualifies.

There are no deposit minimums on Polymarket, meaning you can enter contracts for less than 1 USDC. For large deposits, the platform recommends using a third-party bridge, such as deBridge, Portal, or Across. Those bridges may charge fees, so make sure you’re up to speed on their terms and conditions.

Polymarket deposits are usually processed within a few minutes on the Polygon blockchain. Withdrawals are also quick, and they’re recorded within your crypto wallet (usually within an hour). Network congestion, though, can sometimes slow those down at busy times.

User experience and app usability

The Polymarket app is currently unavailable in the United States. It will almost certainly relaunch when the platform becomes available for U.S. users. When it does, it will be available for download on iOS, Android, and Google devices.

Reviews for the Polymarket app vary. It boasts a strong 4.8/5 rating on the iOS App Store, but just 3/5 on Google’s platform. Users praised the ability to track market sentiment and gain new insights on the markets that are listed. Complaints include an inability to effectively find smaller markets, especially when compared to Polymarket’s web browser interface, and the lack of notes on unavailability within the United States.

Many features from Polymarket’s website are available through the app. These features include real-time market updates, liquidity indicators, and other details. Notifications and alerts are also available.

Safety, security, and trust signals

Polymarket provides an infrastructure for contracts, but most of the safety, security, and trust comes from the decentralized platform. Contracts are handled by users, with transactions recorded in each user’s crypto wallet. This is in stark contrast to centralized platforms like Kalshi, which administers contracts and user balances.

Make sure your wallet is as safe as possible by using the following measures:

If you’re a veteran of the cryptocurrency and blockchain spaces, this likely won’t trouble you too much. However, if it’s new to you, it may be a lot to take in as you’re creating a Polymarket account.

Customer service is available through several platforms. Polymarket offers a “live chat” feature, and assistance is also available via Discord and the company’s social media channels.

Responsible gambling on Polymarket

If there’s an area Polymarket can improve on, it’s responsible gambling. It doesn’t offer maximum deposit limits or self-exclusion options, which you’ll find at regulated sportsbooks and online casinos. While Polymarket offers many options for those looking to invest in prediction markets, it doesn’t offer resources for users who need help or don’t know when to stop.

Those resources are available elsewhere, including from the National Council on Problem Gambling and the 1-800-GAMBLER hotline. Additionally, we recommend you set limits and know when to take a timeout.

Polymarket compared with alternatives

Kalshi is Polymarket’s chief rival in the prediction markets space. Its interface is slower than Polymarket’s, and if you’re looking for things like point spreads and totals in sports, you’ll have to dig around a bit to find them. However, it’s set up much more like a regulated outlet, with contracts hosted and honored by the site and an ability to deposit and withdraw without the need for cryptocurrency. If you’re looking for a more standard experience and don’t mind a bit more clunkiness, Kalshi may be a better fit.

Here’s a look at Kalshi and Polymarket at a glance, with some key information for anyone interested in these prediction markets:

Crypto.com, meanwhile, has partnered with Underdog on another prediction market platform. It advertises the ability to trade in cash or cryptocurrency, and it offers markets on sports, politics, and current events. At this time, though, the market selection is lacking when compared to Polymarket and Kalshi.

Should you use Polymarket?

If you’re looking for a crypto-first prediction market platform, Polymarket checks a lot of boxes. It’s fast, easy to use for those with crypto wallets, and any market you could ever hope to enter a contract on is probably here.

However, it definitely has room for improvement. The lack of responsible gambling features is a real problem, and if you’re not crypto-savvy, you may not make it through the “account creation” process.