What is the legal status of Polymarket in the US?
It doesn’t take a genius to work out that Polymarket’s introduction to the US’s prediction market space has been – shall I say – a slightly bumpy one. A cursory search for Polymarket in the press reveals a confusing picture, with the brand having been blacklisted from the US for a number of years, only to have recently made its long-anticipated return.
For Polymarket newcomers, then, your number one priority may be to get to grips with the platform’s availability, along with its current licensing and regulatory credentials. So, that seemed like an appropriate place to kick start my Polymarket review…
Is Polymarket available in the US?
In a word? Yes. However, there are certain caveats you need to consider.
First of all, it’s important to note that Polymarket is only available through the brand’s US app. The brand got the nod from the CFTC (Commodity Futures Trading Commission) to begin re-trading in the US back in 2025, but it remains heavily regulated.
Right now, only select markets are available to Polymarket US traders in this app. That’s due to ongoing friction between federal lawmakers (the CFTC) and state regulators.
So, while Polymarket is available in the US, ongoing scrutiny and last-minute rule changes mean that I can make no guarantees about its long-term viability. But for now, users can sign up via the Polymarket US-only app.
However, this does mean that there is no desktop site available. But for those who prefer the flexibility of purchasing contracts on the go, then this could be the platform for you.
Polymarket launches new US-based app
Initially, Polymarket deployed a phased rollout to members across the US, which later led to the launch of the US-only app. Naturally, Polymarket generated a lot of demand, with its prediction market viewed as a potential game-changer alongside, say, the platform outlined in our recent Crypto.com review.
That meant that initially prospective US members needed to join a pretty long queue to gain access. But thankfully this is a thing of the past. Now the US-based Polymarket app is available to download directly from the site. It’s available to download for users in all states with the exception of Nevada.
How does Polymarket work? A brief introduction
Granted, you may not have been so hot on the idea of waiting for Polymarket to relaunch in the US. But I do feel now that it was worth the wait to have a Polymarket US app. The platform offers a solid prediction market trading experience that’s on par with some of the best-known providers.
Of course, if you’re completely new to Polymarket and prediction market trading in general, you might be in need of a quick crash course on how everything works. If that’s the case, I’ve got you covered with a quick, need-to-know guide on how to use Polymarket.
What’s the core idea behind Polymarket?
Polymarket is a platform that lets you buy and sell contracts based on real-world events. You can buy “Yes” contracts if you think an event is likely to happen, and “No” contracts if you don’t think it will.
That’s the bare bones, back-to-basics premise behind Polymarket. Each contract you buy costs between $0 and $1, and the price you pay reflects the probability. So, if you were to buy a “Yes” contract at $0.70, that would suggest that it’s 70% likely that an event will happen; meanwhile, a “No” contract would be priced at $0.30, suggesting 30% probability.
The simplicity of using prediction market trading tools like Polymarket is part of the reason why they’re proving so popular. And I have to say that even I, as a pretty inexperienced trader, found it super easy to get started on Polymarket, with very little learning curve required to feel like an experienced trader.
How do you “win” at Polymarket?
If you make a correct prediction by buying the right “Yes” or “No” contracts, you can turn a profit on the value of each individual contract you’ve purchased. All winning contracts resolve at $1 and all losing contracts resolve at $0; how much profit you make is based on the initial contract price.
Returning to my earlier example: if you purchased a “Yes” contract at $0.70 and the event did happen as you predicted, you would receive $1, giving you $0.30 in profit. If your prediction was incorrect, the contract will resolve at $0, meaning you’ll lose your initial $0.70 investment.
A step-by-step guide to using Polymarket (including an example trade)
Sometimes, it can help to see how a process plays out in real time, so here’s a quick, step-by-step guide on what using the Polymarket US app actually looks like:
- Use the page banners to launch Polymarket US, and find the app icon.
- Download the app from your relevant store and launch it.
- Once you’re in the app, you can then register for your new account.
- Verify your identity by providing the appropriate documents and taking a selfie.
- Once approved, you can add funds to your account by linking your bank or using one of the other available methods.
- It’s now time to make your predictions. Select the market you wish to trade on and choose “Yes” or “No” based on the contract price and probability. There’s no maximum limit on the amount of contracts you purchase in a single trade, but do note that large orders could negatively affect the contract price.
- Lock in your trade and wait for it to resolve. The beauty of using Polymarket is that you can choose to sell your position early if you get cold feet or spot an opportunity to generate optimal profit.
- Once a trade is finished, you can check the outcome and your total gains/losses from your Polymarket account screen.
Polymarket US trading markets: Which topics can you expect?
In my recent Underdog Predict review, I gave a good account of the brand’s available markets and topic classes, so it makes sense to do the same for Polymarket US. After all, since there are some exclusions to be aware of on the US app, it’s worth taking a look at the various event trading markets you can expect, particularly if you’re in the process of comparing Polymarket to other tools.
🏅 Sports event trading
Sports event trading is central to the Polymarket US offering, with this market at the core of the brand’s early beta version of its prediction trading offering. It’s possible to trade on match and tournament winners in the Polymarket US app right now, with regulatory constraints limiting the brand to outright predictions rather than niche markets.
Nevertheless, it does seem like Polymarket is on to a winner with its sports event trading offering. The brand’s sports market topic class currently includes major US leagues like MLB, NBA, NFL, and NHL, alongside an official partnership with the MLS, other soccer tournaments and fixtures (like the EPL), and, less occasionally, boxing, tennis, and golf events.
🏛️ Political event trading at Polymarket
While sports event trading continues to dominate the Polymarket US app, politics is touted to become the next big trading topic class available on the platform. While you won’t be able to trade on political markets in some jurisdictions yet, it’s widely accepted that this will become the next market space after sports to be a mainstay of the Polymarket brand.
Of course, “Yes” or “No” politics trading can be an exciting undertaking, with Polymarket expected to cover everything from local US elections to geopolitical events from across the globe.
🎨 Culture prediction markets
Like politics, culture markets are based on current events around the world. Therefore, they can look very different from one month to the next. Culture predictions include a wide range of topics such as the latest Billboard chart toppers or the winners and losers of the Hollywood awards season.
Usability and performance at Polymarket US
As alluded to in my recent Prize Picks review, I believe the success of prediction markets like Polymarket lies in their ease of use. The yes/no trading format that Polymarket is centered around requires no learning curve to get to grips with, so traders, both new and experienced, can land on the site and comfortably lock in their debut positions.
Since testing the Polymarket US app in preparation for this review, I’ve found the platform to be as effortlessly easy to navigate and use as the international platform. All of its core topic classes are displayed at the top of the screen, and clicking into any of these displays a full roster of trading markets. There’s also a helpful search function, which is ideal if you’re looking to trade on specific topics.
Polymarket US is mobile only
While the international platform is available on big-screen desktop devices for that classic trading-floor feel, the US version is only available in the app. I was pleased to see a Polymarket US app available on both iOS and Android devices.
The brand’s app provides an astonishingly intuitive and well-thought-through trading experience, so you can lock in trades and enjoy complete market oversight from any remote location.
Does Polymarket US have any current promotions?
I wouldn’t say that Polymarket takes a consistent approach to promotions, but I have encountered certain rewards and bonuses since I began testing the platform. The platform abides by the CFTC regulations, so there’s definitely a limit to the number (and scope) of the bonuses Polymarket offers that is within its regulatory constraints.
With that said, let me showcase some promotions that you can claim in the Polymarket US app. I can’t guarantee that all of these deals will be available when you sign up though, as they do tend to get updated regularly, and some may even be location-specific. However, these are the types of rewards and offers worth looking out for as a prospective new Polymarket US trader.
Deposit $10 and get a $25 trading bonus
One of the newest promotions for eligible new Polymarket traders is the trading bonus for your first deposit. If you sign up for Polymarket as a new member and make an initial deposit of at least $10, you'll get a bonus of $25 to trade on prediction markets.
The new trading bonus offers additional trading funds to purchase contracts in markets such as sports, politics and culture. You will need to be aged 18 or over to claim it with a fully verified Polymarket US account.
And just to make things perfectly clear, restrictions and eligibility requirements apply, and the offer is not available in all jurisdictions. Trading is risky, and 100% loss can occur. Ensure you see the Terms of Use on Polymarket for more information.
Referral bonus
Polymarket provides a neat refer-a-friend bonus on its global platform, which has made it onto the US-focused app. Here, you can score free trade credit when you share your unique Polymarket referral code with friends; they’ll also receive an incentive after they’ve deposited a set sum and made their first qualifying trade. Read more on how to claim your Polymarket referral bonus.
In-platform trading rewards
Polymarket incentivizes regular traders with a handful of in-platform rewards. For example, it’s possible to collect perks by placing competitive limit orders and helping to increase liquidity in under-performing markets. These incentives are typically distributed automatically as free trade credit, and you can keep track of your current rewards and status via your Polymarket account page.
Deposit and withdrawal options at Polymarket US
Unlike the main Polymarket global platform, which supports cryptocurrencies, the Polymarket US app do not. To be honest, I wasn’t surprised to discover this, as US lawmakers generally take a skeptical view of cryptocurrencies when used in conjunction with online trading and gambling platforms.
Which payment facilities does Polymarket accept for deposits and withdrawals?
Polymarket US deals in traditional payments only, although it has recently introduced an e-wallet option. So, you can add and withdraw funds from your account using the following payment facilities:
- Debit cards (including Visa/Mastercard)
- Bank transfer (ACH)
- Wire transfer
- Apple Pay
Note that Polymarket also operates what’s known as a “closed loop” payment and withdrawal system. That means users must use the same payment method for both adding and withdrawing funds; that’s for fraud prevention and trader verification purposes.
What are the standard withdrawal times at Polymarket?
If you’re looking to withdraw funds from your Polymarket US account, you can check your eligible withdrawal amount at any time from your account screen. In my experience, withdrawals typically take 4-5 days via debit card and ACH and around 1 business day for wire transfers.
Do you pay fees to use Polymarket?
Rather than paying fees when making deposits/withdrawals, Polymarket charges a per-trade fee of around 0.01% or 1 basis point. Any fees you’ve accrued are displayed on the trade execution screen, so you’ll enjoy maximum oversight when locking in new predictions.
What is customer service like at Polymarket US?
In my Fanduel Predict review, the brand’s reliable customer support proved to be one of its standout assets. But can the same be said for Polymarket?
Yes, I would say so. Polymarket offers a live chat function to all its regular traders. You can access this live chat function via the mobile app, although average response times are a little mixed.
Elsewhere, Polymarket offers a support email address for longer, more complex queries, as well as a Discord channel for non-account-specific enquiries. In my experience, it’s also worth referring to Reddit for community support on Polymarket.
That’s a wrap on my Polymarket review: Can I recommend it?
I’m sure many of you will be chomping at the bit to try out Polymarket for yourself, particularly after reading about some of the platform’s awesome features and its potential new-trader promotions. Just don’t forget that it’s now an app-based platform, with no desktop site available for US traders.
If you’re going to ask me, yes, Polymarket’s prediction markets are the real deal, even with the restrictions on available markets. If you’re convinced that Polymarket is your prediction market of choice, download the app via the links on this page.
Polymarket review FAQs
Is Polymarket legit?
Yes, it’s legit. Although Polymarket has only recently launched in the US, this is a well-established platform with a strong base of global traders. Note, too, that the US version is regulated by the CFTC.
Where is Polymarket available in the US?
Since Polymarket is regulated by the federal CFTC, it’s available in all parts of the US, with the exception of Nevada. It was recently rolled out across the remaining 49 states as a downloadable app.
Is there a Polymarket US welcome bonus?
Yes, new users can pick up a $25 trading bonus, after making an initial $10 trade.
