What is Polymarket? (2026 guide)
Updated 12 Oct 2026
Polymarket is a prediction-market exchange founded in 2020. It runs on the Polygon blockchain, settles trades in USDC stablecoin, and is the largest crypto-native prediction market (Kalshi is larger by total volume in 2026) — single-market volume on the 2024 US presidential election exceeded $3.7 billion.
Polymarket US. In 2025 Polymarket acquired the CFTC-licensed exchange QCEX; the US venue (QCX LLC, d/b/a Polymarket US) was designated by the CFTC on 9 July 2025 and is separate from polymarket.com.
How it works. Users connect a crypto wallet, deposit USDC, and trade contracts on event outcomes. Most markets resolve via UMA's optimistic oracle, which uses a community-validated resolution process with a dispute window.
Who can use it. polymarket.com (the international site) blocks the US, the UK, most EU member states, Australia and a growing list of other jurisdictions; India and Brazil have blocked Polymarket since 2026. US residents can use Polymarket US, which has been CFTC-regulated since July 2025 and is available in all US states except Nevada.
Fees. Polymarket international charges a taker fee up to 0.07·p(1−p); 0% on geopolitics.
Frequently asked questions
Is Polymarket safe?
Polymarket has been operational since 2020, has processed billions of dollars in volume without a major hack, and uses audited smart contracts. Like any crypto product, users bear smart-contract risk and the volatility of the underlying USDC peg.
Is Polymarket legal?
Legality depends on jurisdiction. Polymarket settled with the US CFTC in 2022; since July 2025 its CFTC-regulated Polymarket US is available in all US states except Nevada, while polymarket.com still blocks the US, UK and most of the EU. See our country-by-country legal guide.