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Polymarket
Prediction market on Polygon, founded in 2020 and backed by Founders Fund
4.0/ 5
Our score
Very good
Market types
PoliticsSportsCryptoEconomics+1
Settles in
pUSD, a crypto collateral token backed by USDC
Available in the US
No
Regulated venue
No
What is Polymarket?
Polymarket is a prediction market where traders buy and sell contracts on politics, elections, sports, crypto, finance, technology, culture, weather and economics. Its international platform runs on Polygon and had about $356.6 million in TVL on October 17, 2026. Contracts settle at $1 if an outcome occurs and $0 if it does not.
Company and funding
Shayne Coplan founded Polymarket in 2020 and remains its chief executive. He is an American entrepreneur and technologist who attended New York University. The company is based in New York City. Funding includes a $4 million seed round led by Polychain Capital in October 2020, a $25 million Series A led by General Catalyst in December 2021, and a $45 million Series B led by Founders Fund in May 2024. Polymarket announced about $70 million raised across two rounds by May 2024. The company later reported a $1 billion strategic investment from Intercontinental Exchange in October 2025, while 1789 Capital led a further round in August 2026.
How trading works
The platform uses a peer-to-peer central limit order book, so traders exchange positions with one another rather than against a house. Prices range from $0.00 to $1.00 and act as implied probabilities. Collateral is pUSD, an ERC-20 backed by USDC. Yes and No positions are represented as ERC-1155 tokens on Polygon, and smart contracts handle trade settlement.
Polymarket describes the international product as non-custodial. Funds and positions remain in the user's wallet or smart wallet, while trades are recorded onchain. Markets using UMA's Optimistic Oracle accept a proposed result, allow a challenge period, and use UMA to resolve a dispute. Other markets can use different resolution mechanisms.
Availability and regulation
Trading on polymarket.com is blocked for US residents. They are directed to Polymarket US, a separate product operated by QCX LLC and described as a CFTC-regulated Designated Contract Market that trades in US dollars. The international platform also restricts countries including Australia, Brazil, France, Germany, Italy, Japan, the United Kingdom and the United States. The site prohibits VPN use to bypass geographic restrictions.
Track record and risks
The CFTC fined Polymarket $1.4 million in January 2022 and ordered it to stop operating unregistered event-based swaps markets. US access was blocked in December 2022. Polymarket acquired QCEX in July 2025, and a CFTC and Department of Justice probe ended in July 2025. A $3 million frontend and infrastructure compromise was recorded in June 2026.
Market outcomes can be disputed, and thin order books can make positions costly to enter or exit. Oracle manipulation and unclear event wording are material risks. Self-custody also leaves private-key loss with the account holder.
Founders
Shayne CoplanFounder and CEO
American entrepreneur and technologist who attended New York University and founded Polymarket in 2020.
Best for:Event probability tradersOnchain prediction market usersPolitics and sports marketsNon-US Polygon users
Pros and cons
Pros
- Broad markets across politics, sports, crypto and current events
- Non-custodial trading with onchain positions
- Polygon supports pUSD collateral and ERC-1155 outcome tokens
- UMA provides a defined challenge process for supported markets
- Separate CFTC-regulated US venue through QCX LLC
Cons
- International trading is blocked for US residents
- Country restrictions include the United Kingdom, France, Germany and Japan
- Thin liquidity can increase entry and exit costs
- Resolution disputes can delay or change settlement outcomes
- A June 2026 frontend compromise involved $3 million
- Private-key loss can mean loss of access to funds
Our review
4.0/5
Very good
Polymarket offers broad, liquid event markets with transparent onchain settlement, but geographic restrictions and resolution, regulatory, and smart-contract risks remain significant.
Polymarket lists markets across politics, elections, sports, crypto, finance, geopolitics, technology, culture, weather and economics, with live examples ranging from football to central-bank decisions. Contracts trade between $0 and $1, then settle at $1 or $0 depending on the result. That structure makes prices readable as implied probabilities, although a displayed price can move before resolution.
Markets on the site show volumes from thousands of dollars to hundreds of millions, including a $712 million market for the 2028 Republican presidential nominee. Total value locked was about $356.6 million on October 17, 2026. Liquidity varies sharply by question and expiry. Trading uses a peer-to-peer central limit order book rather than a house counterparty.
Settlement runs on Polygon with pUSD collateral. The documentation says pUSD is backed by USDC, while outcome shares are ERC-1155 tokens and trades use smart wallets. Users retain control of funds in the non-custodial model, but private-key loss can mean loss of access. The resolution process for UMA markets includes a proposed outcome, a challenge period and UMA adjudication if disputed. Protocol V2 markets can use other mechanisms.
Access is a major limitation. Trading on polymarket.com is blocked in the United States, and the international platform lists 39 restricted countries. Polymarket US is a separate product operated by QCX LLC as a CFTC-regulated Designated Contract Market and trades in dollars. The international platform itself is not the regulated US venue. Polymarket also paid a $1.4 million CFTC fine in January 2022 and was ordered to stop operating unregistered event-based swaps markets.
Shayne Coplan founded Polymarket in 2020 and remains its chief executive. The company has attracted Founders Fund, General Catalyst, Polychain Capital and other backers. The international platform offers event coverage across politics, elections, sports, crypto, finance, geopolitics, technology, culture, weather and economics, with positions settled onchain. Its non-custodial model uses smart wallets, while UMA markets use an oracle-based resolution process.
Specs
| Market types | Politics, Sports, Crypto, Economics, Culture |
|---|---|
| Settles in | pUSD, a crypto collateral token backed by USDC · unverified |
| Chains | Polygon |
| Resolution source | UMA Optimistic Oracle |
| Available in the US | No · unverified |
| Regulated venue | No · unverified |
| Market topics | Politics, Elections, Sports, Crypto, Finance, Geopolitics, Technology, Culture, Weather, Economics · unverified |
| Liquidity rewards | Yes · unverified |
Not disclosed by the provider: Trading fees, KYC required, Mobile app.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Key features
Event contract trading
Contracts cover politics, sports, crypto, finance, technology, culture, weather and economics. Winning shares redeem for $1.00.
Peer-to-peer order book
A central limit order book matches traders with one another rather than making Polymarket the counterparty.
Probability pricing
Shares trade between $0.00 and $1.00, with the price representing the market's implied probability.
Polygon settlement
The international platform uses Polygon, pUSD collateral and ERC-1155 Yes and No positions.
UMA resolution
Markets using UMA's Optimistic Oracle accept a proposed outcome, allow challenges and send disputes to UMA.
Early position exits
Traders can sell positions before resolution instead of holding contracts until the event concludes.
Inside Polymarket
Polymarket
The international platform lists event markets across politics, sports, crypto, finance, geopolitics, technology, culture, weather and economics. Users trade Yes and No outcome shares on Polygon using pUSD collateral.
Polymarket US
Polymarket US is a separate US product operated by QCX LLC. It is described as a CFTC-regulated Designated Contract Market that trades in US dollars.
Polymarket screenshots
User reviews
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Funding and investors
$4.3BTotal raised
9Rounds
30Investors
-
Funding round Aug 2026 $1B
-
Funding round Mar 2026 $600M
-
Funding round Oct 2025 $150MFF Founders FundVenture capital Lead 1C 1ConfirmationVenture capital
Blockchain CapitalVenture capital
Coinbase VenturesExchange ventures arm
DR DragonflyVenture capital
PV Point72 VenturesVenture capital
RC Ribbit CapitalVenture capital
SA SV AngelVenture capital
VC Valor Capital GroupVenture capital
-
Strategic Oct 2025 $1B
-
Funding round Nov 2024 $55M
-
Series B May 2024 $45M
-
Series A May 2024 $25M
-
Seed Oct 2020 $4M1C 1ConfirmationVenture capital BS Balaji SrinivasanAngel investor CL Calvin LiuVenture capital EF Electric Feel VenturesVenture capital JH Jack HerrickAngel investor JH Josh HannahVenture capital KW Kain WarwickAngel investor KV Kal VepuriVenture capital MB Marc BhargavaVenture capital MD Meltem DemirorsVenture capital NR Naval RavikantAngel investor NF New Form CapitalVenture capital
ParaFi CapitalVenture capital
PC Polychain CapitalHedge fund
RL Robert LeshnerAngel investor
Robot VenturesVenture capital
SK Stani KulechovAngel investor
-
Funding round Amount undisclosed
FAQ
Who founded Polymarket?
Shayne Coplan founded Polymarket in 2020 and serves as its chief executive. The company is based in New York City.
Is Polymarket available in the United States?
Trading on polymarket.com is blocked for US residents. Polymarket US is a separate venue operated by QCX LLC as a CFTC-regulated Designated Contract Market.
How does Polymarket resolve markets?
UMA markets use a proposed outcome followed by a challenge period, with UMA deciding disputed outcomes. Once finalized, winning shares become redeemable for $1 pUSD; Protocol V2 markets can use other resolution mechanisms.
Is Polymarket self-custodial?
Polymarket describes its international platform as non-custodial, with funds held in the user's wallet and trades settled through smart contracts. Losing a private key can mean losing access to funds.
Which blockchain and collateral does Polymarket use?
The international platform uses Polygon and pUSD collateral. Outcome shares are represented as ERC-1155 tokens, and the documentation says pUSD is backed by USDC.
Why do Polymarket prices look like probabilities?
A share priced at $0.65 represents a market-implied probability of about 65 percent. Contracts settle at $1 if the outcome occurs and $0 if it does not, so prices can change before resolution.
Latest from Polymarket on X
BREAKING: Trump reveals he would "love to run again" for president, claiming a recent poll showed him beating every potential opponent by a wide margin.
BREAKING: Notorious Haitian gang leader calls for peace talks after El Salvador President Nayib Bukele deploys 2,000+ troops to crush gangs & rescue 4 missing soldiers.
BREAKING: Abdul El-Sayed surges to his largest lead yet in odds to win Michigan's Senate race, just 1 day before the midterms.
77% chance.
🔗 https://t.co/vqD5zT3EHy https://t.co/c1HkrWkCry
77% chance.
🔗 https://t.co/vqD5zT3EHy https://t.co/c1HkrWkCry
JUST IN: Abdul El-Sayed calls transgender athletes in girls' sports a "manufactured" social issue.
Recent public posts from @Polymarket, shown as published. Not reviewed or endorsed by CryptoReview.
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