What Is Polymarket US and How Does It Work?
Polymarket US is a centralized, US-dollar-settled event-contract exchange operated by QCX LLC as a CFTC-regulated Designated Contract Market. It is separate from the crypto-based, on-chain international product at Polymarket.com.
As we have explained in our prediction markets guide, the platform allows you to trade “Yes” or “No” contracts on real-world outcomes. Prices for each contract run from $0.01 to $0.99 and represent the market-implied probability.
For example, an 80¢ “Yes” contract implies roughly an 80% chance of that outcome, like whether the Los Angeles Lakers will make the NBA Playoffs. If you buy 10 contracts at 80¢, you risk $8. If “Yes” wins (Lakers make it into the postseason), the contracts settle at $1 each, giving you $10 and a $2 gross profit. If “No” wins, the contracts settle at $0, and you lose the $8 paid.
You can trade markets covering sports, politics, economics, crypto, weather, technology, culture, and more.
You don’t trade contracts with the platform, but with other Polymarket users. Polymarket US operates an order book that matches buyers and sellers based on the prices they are willing to accept.
The maker-taker model explains how those orders interact. A maker places an order that adds liquidity to the order book. A taker accepts an existing order and removes that liquidity. In simple terms, makers wait for someone to trade with them, while takers trade against orders already on the book.
Polymarket US calculates taker fees as 0.06 × the number of contracts × price × (1 − price). The fee reaches $1.50 per 100 contracts when the contract price is $0.50, while resting maker orders receive a rebate.
What Can You Trade On?
Polymarket US covers a broad mix of real-world events across several categories. Here’s what you can trade on:
Sports: Game/match results, player performances, tournament outcomes, and other events across major American leagues and international competitions.
Politics: Elections, candidates, legislation, appointments, and other political events.
Crypto: Crypto prices, short-term movements, market milestones, and other events involving major digital assets.
Weather: Temperature records, rainfall, hurricanes, and other measurable weather outcomes.
Tech: Product launches, company milestones, AI developments, and technology trends.
Culture: Entertainment, awards, media, and other pop-culture events.
Economics: Interest rates, inflation, economic data releases, and various macroeconomic indicators.
Where Is Polymarket US Legal?
Polymarket US is not available to users physically located in Arizona, Illinois, Massachusetts, Maryland, Michigan, Montana, Nevada, Ohio, or Washington.
While Polymarket US is federally regulated by the CFTC, which allows it to offer event contracts across much of the country, prediction markets have faced state-level challenges over the last year or so.
Several states argue that certain sports event contracts fall under state gaming laws and have pursued legislation or enforcement actions seeking to restrict them. One active example is Wisconsin’s April 2026 civil action against Polymarket and four other CFTC-regulated exchanges. The CFTC filed a separate lawsuit seeking to block that state enforcement.
Some states have taken a more nuanced approach by challenging sports prediction markets specifically, without necessarily prohibiting political, economic, or other event contracts at Polymarket and other platforms.
The legal map is still moving, and future restrictions are very likely.