How to use Polymarket: a step-by-step beginner's guide

Polymarket isn't a sportsbook. It's a crypto wallet stapled to a prediction market — which sounds intimidating until you do it once.

Step 1 — Create your account

Go to polymarket.com and click Log in. You have two paths:

• Email (recommended for beginners) — Polymarket uses Magic to create an embedded smart-wallet behind the scenes. No seed phrase, no MetaMask.
• Connect MetaMask / Coinbase Wallet — full self-custody, but you'll manage gas and bridging.

No KYC, no SSN, no address verification.

Step 2 — Fund with USDC on Polygon

Polymarket runs on Polygon and settles in USDC. If you signed up with email, the deposit screen shows a QR code and your Polygon address. You can:

• Buy USDC directly in-app via MoonPay / debit card — easiest, highest fees.
• Bridge USDC from another chain using Polymarket's built-in bridge — medium fees, ~10–30 minutes.
• Send USDC from an exchange like Coinbase or Kraken that supports Polygon withdrawals — cheapest, requires you to already hold USDC there.

Don't send ETH-mainnet USDC to your Polygon address — the funds will sit in limbo. Pick Polygon explicitly when withdrawing from an exchange.

Step 3 — Place your first trade

Browse to any market. The interface shows a YES price and a NO price in cents (e.g. 0.32 means 32¢). Click YES or NO, enter the dollar amount you want to spend, and confirm. The app shows your max payout before you commit.

Trades execute against an on-chain order book operated by Polymarket. Fills are usually instant on liquid markets. Polymarket charges 0% trading fees — gas costs on Polygon are pennies.

Step 4 — Track and exit positions

The Portfolio page shows every open position with unrealized P&L. To exit early, click your position and sell — you'll trade against the live order book at the current price.

Step 5 — Withdraw

Send USDC to any Polygon address from the Withdraw screen. From there you can bridge it back to Ethereum mainnet, send it to a centralized exchange, or off-ramp to fiat. Total time to bank account is usually 30–60 minutes via Coinbase.

Beginner pitfalls

• Sending USDC on the wrong chain. Polymarket only accepts USDC on Polygon (PoS chain). Wrong-chain deposits require manual recovery.
• Ignoring oracle dispute risk. UMA disputes can delay settlement by days. Check past resolutions on a similar market before you trust the resolution date.
• Thin orderbooks on niche markets. A market with $500 of liquidity will move 10¢ when you enter. Filter to high-volume markets first.

Ready to try?

Open a Polymarket account. If you want a CFTC-regulated US alternative, see our Kalshi vs Polymarket comparison.