Jeremy Bragin
Polymarket
Polymarket’s CFTC-regulated US exchange, with a public order book and a free market-data API
4.7/ 5
CoinStats scoreBest for: trading Polymarket from the US, on a CFTC-regulated exchange.
- Regulator
- CFTC: runs QCX LLC, a CFTC-designated contract market, cleared by QC Clearing
- Fee on $100 at 50¢
- $3.48
- Minimum deposit
- $1,000 by wire; card and ACH minimums not published
- Deposit options
- Debit card, ACH and wire
- Settlement and payout
- Winning contracts pay $1 once the result is final. Sports markets often resolve shortly after the official result.
- States
- A court order bars its sports contracts in NV
Scored and shown as Polymarket US, the app US residents use, on our published method, from what Polymarket US publishes.
Open PolymarketHow we make money
CoinStats may earn a commission if you open an account through links on this page. No venue pays for its score: it comes from the same published method, applied to every app.
Is Polymarket legit?
Yes, with one distinction first. “Polymarket” is two products, run by separate companies under one brand. Americans can use only one of them: Polymarket US.
Polymarket US has three layers. The app comes from Blockratize Inc., the original Polymarket company. Orders go to QCX LLC, which the CFTC designated as an exchange on July 9, 2025. Trades clear at QC Clearing LLC, a CFTC-registered clearinghouse since December 2024.
The other product is polymarket.com, the international site. It runs on the Polygon blockchain, and its own footer says the CFTC does not regulate it. From the US it is close-only: you can exit old positions but not open new ones.
“Legit” is not the same as spotless. In January 2022 the CFTC fined Polymarket $1.4 million for running unregistered markets. Polymarket then blocked US users, returning only when Polymarket US opened in December 2025. In between, the owner of the New York Stock Exchange agreed to invest up to $2 billion.
Regulation answers who supervises it. It does not promise a profit, and it does not settle state law. Several states are fighting it.
Is Polymarket safe? How your money is held
Start with where your money goes, because the two products differ. On Polymarket US, it goes to the clearinghouse. Wire instructions name QC Clearing LLC as the recipient, at Merchants Bank of Indiana.
Polymarket US says your funds sit in a dedicated customer account, separate from its operating money. It says it cannot use them. Its participant agreement adds a caveat: the clearinghouse may commingle or invest that cash, within CFTC rules.
Here is what that does not give you. FDIC insurance covers bank deposits, not trading positions. SIPC covers securities, and event contracts are not securities. Your protection is segregation, not insurance.
Getting in takes ID. Polymarket US checks your name, date of birth and address, and may ask for a photo ID and selfie. Its identity-check specification for apps lists the full Social Security number as a required field. Most checks clear at once; a manual review can take 3 to 5 business days.
There is no separate Polymarket US password. You sign in with Google or Apple, so turn on two-step verification there. Never share a Polymarket verification code, even with support.
The international site works differently. It is non-custodial: your balance sits in a smart wallet on Polygon that you control. It is held as pUSD, a token backed by USDC. Lose your private key, and you can lose access to the money.
Is Polymarket gambling?
Under federal law, Polymarket US says no. It is a CFTC-regulated exchange, and its contracts are regulated derivatives. In your wallet the line is thin. You risk money on an outcome, and if you are wrong you lose all of it.
The real difference is who takes the other side. A sportsbook sets the odds and takes your wager. Polymarket US matches you with another user on an order book. It says it never takes the other side and never sets prices.
States disagree, and they are acting on it. Nevada won a preliminary injunction against Polymarket US on May 29, 2026. In June a federal judge in Michigan denied it an injunction against state enforcement. In July another federal judge paused Minnesota's ban on prediction markets, in a case Polymarket US helped bring.
On September 24, 2026, New York sued, calling Polymarket US an unlicensed gambling operation. Polymarket US sued New York the same day. Every case is on our prediction market legal tracker.
Polymarket lawsuits and complaints
Search for Polymarket and a “scam” accusation turns up on the first page. Take it seriously, but sort it. The real complaints fall into three groups: its own conduct, other traders' conduct, and how markets resolve. We found no case claiming it took deposits and refused to return them.
- The CFTC's $1.4 million penalty The CFTC found Polymarket had run an unregistered exchange, listing more than 900 event markets. Polymarket settled without admitting or denying the findings. It paid $1.4 million and agreed to close its non-compliant markets. Source
- An FBI search, then no charges FBI agents searched CEO Shayne Coplan's apartment and took his phone. The probes reportedly asked whether Americans were still trading. In July 2025 the Justice Department and CFTC closed them without charges. Source
- Wash-trading research Columbia researchers estimated that about 25% of Polymarket's historical volume looked like wash trading. That means accounts trading with themselves to inflate activity. They put the December 2024 peak near 60%. Source
- Class action over sports contracts Traders say Polymarket sells unlicensed sports bets while marketing itself as a legal prediction market. Two suits are now combined in federal court in Manhattan. Polymarket has asked the judge to send the claims to arbitration. Source
- Insider-trading charges against traders Prosecutors charged a US soldier with trading on classified plans to capture Nicolás Maduro, for a profit of about $410,000. In May they charged a Google engineer who allegedly made about $1.2 million from inside information. The charges target the traders, not Polymarket. Source
- Paid creators and fake wins The Wall Street Journal reported that Polymarket paid creators to film winning bets on dummy copies of its website. None of the bets in the videos it examined were real. A consumer group sued in Washington, D.C., on June 26. Source
- A class action over the videos A Washington, D.C., resident says Polymarket paid influencers to pass off fake bets and big wins as real. The proposed class covers residents of the District who funded accounts. Polymarket moved the case to federal court. Source
- New York's lawsuit New York's attorney general sued Polymarket US as an unlicensed gambling operation. The state says it lets 18- to 20-year-olds trade. It seeks restitution and fines of three times its gains. Polymarket US countersued the same day. Source
The lesson runs through all of them. Judge Polymarket by its rules and its regulator, not by anyone's screenshot of a win.
How Polymarket works
Every Polymarket market is a yes-or-no question with a close date and written rules. Contracts trade between 1¢ and 99¢. A winning contract pays $1 and a losing one pays nothing. So the price doubles as the market's probability.
| Cost of the contracts | $40.00 |
| Taker fee (0.0695 × 100 × 0.40 × 0.60) | $1.67 |
| Total you pay | $41.67 |
| Paid out if the answer is Yes | $100.00, a profit of $58.33 |
| Paid out if the answer is No | $0.00, a loss of $41.67 |
You can sell before the result if someone will buy. Settlement is where the two products split. Polymarket US resolves each market from the sources named in its rules, and its clearinghouse pays out.
The international site uses UMA, a crypto oracle. A proposed result stands after 2 hours unless someone disputes it. A dispute goes to a vote of UMA token holders, which takes 4 to 6 days.
Those votes can go wrong. In March 2025, traders accused one large UMA holder of swinging a $7 million market on a Ukraine minerals deal. Polymarket said it could not issue refunds. For the full walkthrough, read how Polymarket works, step by step.
Polymarket fees, with the arithmetic
On Polymarket US: 0.0695 × contracts × price × (1 − price) for takers on most markets, and more on combos. Makers pay no fee. On $100 at 50¢, which buys 200 contracts, that comes to $3.48.
| Price | Cost of 100 contracts | Taker fee | Paid if right |
|---|---|---|---|
| 10¢ | $10.00 | $0.63 | $100.00 |
| 25¢ | $25.00 | $1.31 | $100.00 |
| 50¢ | $50.00 | $1.74 | $100.00 |
| 75¢ | $75.00 | $1.31 | $100.00 |
| 90¢ | $90.00 | $0.63 | $100.00 |
| Category | Taker rate | Fee on $100 at 50¢ |
|---|---|---|
| Crypto | 0.07 | $3.50 |
| Sports | 0.05 | $2.50 |
| Finance | 0.04 | $2.00 |
| Politics | 0.04 | $2.00 |
| Economics | 0.05 | $2.50 |
| Culture | 0.05 | $2.50 |
| Weather | 0.05 | $2.50 |
| Other / General | 0.05 | $2.50 |
| Mentions | 0.04 | $2.00 |
| Tech | 0.04 | $2.00 |
| Geopolitics | 0 | $0.00 |
The first table is Polymarket US, on the schedule it adopted on September 25, 2026. Makers there pay nothing, and earn a 0.0125 rebate until October 5. After that, only makers trading $10 million or more a month earn one. The second table is the international site, which charges by category and never charges makers.
On $100 at 50¢, Polymarket US takes $3.48. The same trade costs $2.00 in politics on the international site, or $3.50 in crypto. Every fee here peaks at 50¢ and shrinks toward either end.
Polymarket US publishes no deposit fee, and withdrawals are free. Traders with over $250,000 of taker volume in the prior month get 10% to 50% of their fees back. Every rate is on our Polymarket fees page.
Does Polymarket pay out? Withdrawal times and holds
Yes. When a market settles, each winning contract pays $1 into your cash balance. On Polymarket US, sports markets often resolve shortly after the official result. Political markets can wait for certification.
Withdrawals are free, but they follow strict rules. Money goes back to the card or bank account it came from. The oldest deposit is repaid first. Cards and bank transfers take 3 to 4 business days; wires take about 1.
The rule that trips people up is clearing. Card and bank deposits give you instant buying power, but cannot leave until they clear. That includes profits made with that buying power. If a deposit is still pending after 5 business days, contact support.
On the international site, withdrawals are crypto transfers to any wallet you name. Polymarket calls them instant and free, though your bridge or exchange may charge.
| Deposited by | Can be withdrawn after | Withdrawal goes to | Arrives in |
|---|---|---|---|
| Debit card | 3 to 4 business days | The same card | 3 to 4 business days |
| Bank transfer (ACH) | 3 to 4 business days | The same bank account | 3 to 4 business days |
| Wire ($1,000 minimum) | About 1 business day | Your bank, by wire | About 1 business day |
| Crypto (international site only) | No hold published | Any wallet you choose | Instant, per Polymarket |
What you can trade on Polymarket
Polymarket US lists all six categories we track: sports, politics, economics, crypto, culture and climate. Sports run from the NFL and NBA to tennis and golf. Combos join 2 to 10 markets into one position, and every leg must win.
The counts below come from the international site, whose prices feed our live prediction market odds. Americans can read those prices but cannot trade them. Polymarket US runs a separate order book, so its prices can differ.
Right now Polymarket lists 9,018 open events. An event can hold several markets, such as one per team.
| Category | Open events |
|---|---|
| Sports | 4,199 |
| Politics | 2,188 |
| Crypto | 1,158 |
| Economy | 462 |
| Climate & Weather | 339 |
| Culture | 305 |
| Tech & Science | 216 |
| World | 132 |
| Health | 19 |
The most traded Polymarket markets today
Where Polymarket is available
Polymarket US is open by default across the country. The exceptions come from state courts and regulators, and mostly concern sports. The firmest is Nevada, where a court order keeps Polymarket US out. Our Nevada page has the case.
Here is the state-by-state picture, with the case behind each.
| State | Status | Contracts | Case or action |
|---|---|---|---|
| AZ | blocked | sports | Arizona enforcement |
| CT | disputed | sports | Connecticut DCP cease-and-desist order to Polymarket (announced Sep 10, 2026) |
| IL | disputed | sports | Illinois Gaming Board cease-and-desist letter to QCX LLC (Jan 27, 2026) |
| MD | disputed | sports | City of Baltimore v. QCX LLC, No. C-24-CV-26-005535 (Cir. Ct. Balt. City), removed as No. 1:26-cv-03253 (D. Md.) |
| MA | disputed | sports | QCX LLC v. Campbell, No. 1:26-cv-10651 (D. Mass.) |
| MI | disputed | sports | QCX, LLC v. Nessel, No. 1:26-cv-00710 (W.D. Mich.) |
| MN | disputed | all | QCX LLC v. Ellison, No. 26-cv-2841; United States v. Minnesota, No. 26-cv-2661 (D. Minn. Jul 27, 2026) |
| NV | blocked | all | Nevada ex rel. Nev. Gaming Control Bd. v. Blockratize, No. 26-OC-00012-1B (Nev. 1st Jud. Dist. Ct.) |
| NY | disputed | all | James v. QCX LLC, No. 1:26-cv-08338 (S.D.N.Y.); QCX LLC v. James, No. 1:26-cv-08345 (S.D.N.Y.) |
| RI | disputed | sports | State of Rhode Island v. KalshiEX LLC and QCX LLC, No. PC-2026-02753 (R.I. Super. Ct.), removed as No. 1:26-cv-00333 (D.R.I.) |
| TN | blocked | sports | Tennessee Sports Wagering Council order (Jan 9, 2026) |
| WI | disputed | sports | State of Wisconsin v. QCX, LLC, No. 3:26-cv-00375 (W.D. Wis.) |
Outside the US, polymarket.com is blocked in 4 countries and close-only in 36, including the United Kingdom, Australia, France and Germany. See prediction market availability by country.
Not legal advice. States are listed where a ruling, order or action applies; every other state follows the national default.
The Polymarket app and support
On the App Store, Polymarket US rates 4.6 from 59,852 ratings. On Google Play it rates 4.3 from 13.2K. Both were read on September 25, 2026.
Those ratings belong to Polymarket US. In US app stores, the Polymarket app on iPhone and Android is Polymarket US. Blockratize publishes it as a software provider to the exchange. You can also trade on the web at polymarket.us.
Support runs through in-app chat and email, at support@polymarket.us. We found no phone line. The international site has its own team, reached by website chat or support@polymarket.com.
Trading runs nearly 24/7. The exception is a weekly maintenance window, Thursdays from 6 to 8 a.m. Eastern since September 24, 2026. Open orders are cancelled before it starts.
Polymarket pros and cons
Pros
- Regulated at every layer. In the US, the exchange and its clearinghouse are both registered with the CFTC.
- Free withdrawals. Card, bank and wire withdrawals carry no Polymarket fee.
- Fees you can work out. The fee formula is published, and resting orders pay no fee.
- Every category we track. Sports, politics, economics, crypto, culture and climate, on the web, iOS and Android.
- Written insider-trading rules. Polymarket US bans trading on confidential tips, or by anyone who can sway an outcome.
Cons
- Two products, one name. The international site is not CFTC-regulated and is close-only for Americans.
- A record of controversy. A 2022 CFTC penalty, wash-trading research and paid videos of fake wins.
- Withdrawals wait on deposits. Card and bank money must clear first, then goes back where it came from.
- State fights over sports. A Nevada court order keeps it out, and New York has sued.
- No phone support. Help comes through in-app chat and email.
Polymarket vs the alternatives
Polymarket US ranks third of 15 apps in our ranking of prediction market apps, at 4.7 out of 5. That score is Polymarket US's, the product Americans can use.
Kalshi is the closest match: a CFTC-regulated exchange with its own clearinghouse, and more ways to fund. Read our Kalshi review, or compare prices in Kalshi vs Polymarket. Robinhood routes event-contract orders to Kalshi's exchange, among others, so it suits people who already use Robinhood.
Our verdict: is Polymarket worth it?
Polymarket is legit, as long as you know which one you are using. From the US, that is Polymarket US, regulated at the exchange and the clearinghouse. Its fee formula is published, and withdrawals are free.
The risks are specific. Its record includes a CFTC penalty and a paid campaign of fake wins. States keep suing over sports, and withdrawals wait for deposits to clear. As on any market here, you can lose everything you put in.
If those risks suit you, check whether Polymarket is legal in your state first.