Polymarket review: what it actually costs, and who can use it
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Polymarket is a real, deep prediction market that is legal in the US again — but almost every review of it quotes the wrong fees. There is no 2% fee and no cut of your profits. The international exchange charges a per-category taker fee that peaks at a 50¢ contract price (Geopolitics markets are free, Crypto tops out at $1.75 per 100 shares) and never charges makers. Americans use a different venue entirely — Polymarket US, a CFTC-regulated exchange — because the international one blocks US IP addresses.
The verdict
Polymarket is the deepest prediction market in the world by volume, and since December 2025 it is legally available to Americans again. The two things most reviews get wrong are the fee model and the fact that there are now two separate exchanges with different rules, different custody and different fee schedules. Get those right and the rest follows.
Best for
Traders who want depth and breadth of markets, low costs on politics and geopolitics, and the ability to make markets rather than just take prices.
Worst for
Anyone who wants a simple custodial account with a debit card and phone support. Non-custodial crypto has a real learning curve, and on the US side there is no web platform yet.
Fees: there is no 2% fee
This is the single most commonly repeated error about Polymarket, and it was on this site until this update. Polymarket does not charge a flat 2%, and it does not take a cut of profits. The international exchange charges a taker fee shaped like this:
fee = shares × feeRate × price × (1 − price)
Because of the price × (1 − price) term the fee peaks at a 50¢ contract and shrinks
toward both extremes. Buying at 95¢ costs a fraction of what buying at 50¢ costs on the same
number of shares. Geopolitics markets carry no fee at all, and makers are never charged.
| Category | Fee rate | Peak fee / 100 shares | Maker fee | Maker rebate |
|---|---|---|---|---|
| Geopolitics free | 0 | $0.00 | $0.00 | — |
| Finance | 0.04 | $1.00 | $0.00 | 25% |
| Mentions | 0.04 | $1.00 | $0.00 | 25% |
| Politics | 0.04 | $1.00 | $0.00 | 25% |
| Tech | 0.04 | $1.00 | $0.00 | 25% |
| Culture | 0.05 | $1.25 | $0.00 | 25% |
| Economics | 0.05 | $1.25 | $0.00 | 25% |
| Other / General | 0.05 | $1.25 | $0.00 | 25% |
| Sports | 0.05 | $1.25 | $0.00 | 20% |
| Weather | 0.05 | $1.25 | $0.00 | 25% |
| Crypto | 0.07 | $1.75 | $0.00 | 20% |
Source: help.polymarket.com, help.polymarket.com · verified 17 August 2026
Full fee breakdown, worked examples and the Polymarket US schedule →
Fee schedule verified 17 August 2026 against Polymarket's own help centre.
You appear to be in the US. Polymarket’s international exchange blocks US IP addresses — use Polymarket US, the CFTC-regulated exchange, instead. See what’s available in your state.
The two exchanges, and which one you get
| Polymarket US | International exchange | |
|---|---|---|
| Who it is for | US residents in supported states | Non-US traders — US IPs are blocked |
| Status | CFTC-designated contract market (DCM) with affiliated derivatives clearing organization (DCO) | Offshore, non-custodial |
| Custody | Intermediated via the DCM/DCO | You hold your own keys |
| Settles in | USD | USDC (native Polygon USDC) on Polygon PoS |
| Access | iOS open; Android rolling out; no web yet | Web and mobile |
| Fees | Separate national schedule from 1 July 2026 | Per-category taker fee, no maker fee |
If you are in the US, the international link is useless to you — it geoblocks US addresses. Start with Polymarket US access and your state's status.
Scale, and why it matters for your fills
Liquidity is the one thing a prediction market cannot fake, and it is the main practical reason to prefer a larger venue: tighter spreads and less slippage on size.
- $10.57 billion traded in March 2026 — the first month above $10B, up 33% on February.
- $10.8 billion in June 2026 during the FIFA World Cup.
- $26.2 billion across Q1 2026, up more than 90% quarter on quarter.
- Single-day record of $425 million on 28 February 2026.
On the corporate side, ICE completed a $600 million direct investment on 27 March 2026, following its up to $2 billion commitment in October 2025. The April 2026 round was reported at a $15 billion valuation.
Source: bitcoinke.io, ir.theice.com, bloomberg.com · verified 17 August 2026
Most active markets right now
Yes-side probability, highest-volume open markets. Refreshed daily from Polymarket’s public Gamma API.
What changed recently
- 2 December 2025 — Polymarket US reopens to American traders.
- 12 May 2026 — the US iOS waitlist is removed.
- 18 May 2026 — Minnesota signs the first criminal ban on operating a prediction market.
- 1 July 2026 — the Polymarket US fee schedule takes effect.
- 27 July 2026 — a federal court blocks the Minnesota ban.
Common questions
What are Polymarket's fees?
There is no flat percentage fee. The international exchange charges a taker fee that scales with the contract price: shares × feeRate × price × (1 − price). The rate depends on the market category — Geopolitics markets are free, Politics and Finance are 0.04, Crypto is 0.07. The fee peaks at a 50¢ price, where 100 Crypto shares cost $1.75. Makers pay nothing and can earn rebates of 20–25%. Polymarket US runs a separate national schedule. See the full fee breakdown.
Is Polymarket available in the US?
Yes. Polymarket US reopened to American traders on 2 December 2025 through QCX LLC, a CFTC-designated contract market (DCM) with affiliated derivatives clearing organization (DCO), acquired as QCEX for $112 million. The iOS waitlist was removed on 12 May 2026. Android is still rolling out and there is no full web platform for US users yet. The separate international exchange blocks US IP addresses. Full US access guide.
Is Polymarket legal in my state?
Polymarket US operates nationally under its federal CFTC designation, and roughly roughly 43 of 50 states have full access. 7 states are actively disputing whether that designation overrides state gambling law. Minnesota passed an outright ban, which a federal court blocked on 27 July 2026. Check your state.
Is Polymarket safe?
The international exchange is non-custodial — you hold your own keys, so there is no platform balance to be frozen, but also no recourse if you lose your seed phrase. Resolution runs through the UMA Optimistic Oracle, which is the main disputed-outcome risk. Polymarket US is intermediated and CFTC-regulated instead. Full safety analysis.
How do I withdraw from Polymarket?
Polymarket charges no withdrawal fee. On the international exchange you withdraw USDC on Polygon to an exchange, sell to fiat and transfer to your bank — typically 1–3 days end to end, most of which is the bank leg. Step-by-step withdrawal guide.
Availability varies by jurisdiction. 18+. Event contracts carry risk of loss.
You appear to be in the US. Polymarket’s international exchange blocks US IP addresses — use Polymarket US, the CFTC-regulated exchange, instead. See what’s available in your state.
Start here
Fees explained
The real per-category schedule, worked examples, and the US schedule.
US access
What launched when, app availability, and what is still missing.
Legality by state
All 51 jurisdictions, with the actual regulator and action in each.
How to withdraw
The full route to a bank account and where it goes wrong.
All figures on this page verified 17 August 2026 against primary sources where reachable. Unconfirmed values are marked.