How to use Polymarket: a step-by-step beginner's guide
Published May 21, 2026 · Last updated: September 18, 2026
Polymarket US · Deposit $10 get a $25 Trading Bonus!
COLLEGEPMClaim (opens in a new tab)21+ · T&Cs apply
18+ Only. Restrictions and eligibility requirements apply. Not available in all jurisdictions. Trading is risky. 100% loss can occur. See polymarket.com/tos for more information. The Polymarket US App serves as an independent software provider and affiliate of Polymarket US and Polymarket Clearing, the CFTC-regulated exchange and clearing organization.
TL;DR
- In the US, Polymarket runs as an app in 49 states + D.C.
- Deposit $10 and enter code COLLEGEPM at sign-up for a $25 trading bonus.
- Prices are cents per contract: 32¢ means the market says 32%. Each winning contract settles at $1.
Polymarket US · Deposit $10 get a $25 Trading Bonus!
COLLEGEPM
Claim on Polymarket US (opens in a new tab)
18+ Only. Restrictions and eligibility requirements apply. Not available in all jurisdictions. Trading is risky. 100% loss can occur. See polymarket.com/tos for more information. The Polymarket US App serves as an independent software provider and affiliate of Polymarket US and Polymarket Clearing, the CFTC-regulated exchange and clearing organization.
Last checked October 21, 2026
New to this? Read this first
Prediction markets price events in cents, not odds. Here is the vocabulary used on this page, in plain English.
- Price = probability
- A contract that pays $1 trading at 12¢ means the market thinks there's a 12% chance.
- YES / NO share
- YES pays $1 if it happens. NO pays $1 if it doesn't. You can never lose more than you paid.
- Implied chance
- Just the price read as a percentage. A contract at 14¢ implies a 14% chance.
- Vig
- A built-in margin some venues charge. On prediction markets you pay the spread and fees instead.
- Liquidity
- How much money is in the market. More money means you can get in and out at the price you see.
Polymarket isn't a sportsbook. It's an exchange where you buy contracts on whether something happens, priced in cents. In the US it lives inside an app, and setup takes about five minutes. Here's the whole flow before we go step by step.
Polymarket in five steps
- Download the app.
- Verify. What to expect: 18+, ID check, and a location check against the 49 supported states + D.C.
- Deposit $10 with code COLLEGEPM. What to expect: the $25 trading bonus is credited under Polymarket's offer terms.
- Place a trade. What to expect: pick YES or NO, enter dollars, see your max payout before confirming.
- Track or exit. What to expect: you can sell early; thin markets move against you on the way in and out.
Step 1 — Download the US app
Open our Polymarket link (opens in a new tab) and install the app. Signing up through the link is what attaches the bonus code to your account, so do this on the phone rather than a laptop.
US traders: Polymarket is available via the app in 49 states + D.C. Deposit $10 and use code COLLEGEPM for a $25 bonus. See where Polymarket is available and is Polymarket legal? before signing up.Step 2 — Verify your identity
You'll enter your name, date of birth, and the last four of your SSN, and the app checks your location. You must be 18 or older. If you're in Nevada, the app won't let you trade — see where Polymarket is available.
Step 3 — Deposit $10 and enter code COLLEGEPM
Fund the account with at least $10 and enter COLLEGEPM at sign-up for the $25 trading bonus. Bonus credit is not the same as cash: Polymarket sets the trading requirements, and they're shown in the app before you accept. Read them — a bonus you can't withdraw is still worth taking, but only if you know what it is.
Step 4 — Place your first trade
Every market has a YES price and a NO price in cents, and they add up to about $1. If Ohio State to win the national championship trades at 22¢, the market thinks there's roughly a 22% chance. Buy 10 contracts for $2.20 and you get $10 back if it happens, $0 if it doesn't.
Tap YES or NO, type a dollar amount, and the app shows your contract count and max payout before you confirm. Start small enough that the outcome doesn't matter to you.
Step 5 — Track, exit, and withdraw
Your portfolio shows the live value of each position. You don't have to wait for the event: selling back into the order book locks in a gain or a loss early, which is the main thing that makes this different from a bet slip. Withdrawals go back out through the app.
Beginner pitfalls
- Thin markets. A market with a few hundred dollars of interest will move several cents when you enter. Stick to high-volume markets while you learn.
- Treating bonus credit as cash. Check the in-app terms before you plan around it.
- Ignoring settlement rules. Read what exactly resolves the market. "Wins the title" and "makes the playoff" are different contracts.
Ready to try?
Open the Polymarket app and claim the $25 bonus (opens in a new tab), or read the full promo code breakdown. If you want a second CFTC-regulated venue, see our Kalshi vs Polymarket comparison.
(opens in a new tab)Sponsored · Polymarket
Deposit $10, Get a $25 Trading Bonus!
Trade real-money prediction markets on Polymarket's app. Deposit $10 and use bonus code COLLEGEPM at sign-up for a $25 trading bonus.
Available in 49 states + D.C.
Trade on Polymarket — Get $25 (opens in a new tab)21+. Gambling problem? Call 1-800-GAMBLER.
18+ Only. Restrictions and eligibility requirements apply. Not available in all jurisdictions. Trading is risky. 100% loss can occur. See polymarket.com/tos for more information. The Polymarket US App serves as an independent software provider and affiliate of Polymarket US and Polymarket Clearing, the CFTC-regulated exchange and clearing organization.
21+. Gambling problem? Call 1-800-GAMBLER.
Price → probability → payout
Contract price in cents (e.g. 14)Amount you put in ($)- Implied chance
- 14.0%
- Contracts
- 143
- Pays back
- $142.86
- Profit if right
- $122.86
A contract settles at $1 if the event happens and $0 if it doesn't, so the price is the market's probability. Every contract you buy at this price pays $1 — the cheaper the price, the less likely the market thinks it is.
Your first trade, step by step
- Fund a small balanceOpen an account, verify your ID, and deposit $10–$20 by debit or ACH. You must be 18+ and in an eligible state.
- Find the marketSearch the event by team, player or headline. Check the price and the volume — thin markets move a lot on small orders.
- Read the price as a probabilityA 23¢ YES contract means the market gives it about a 23% chance. If you think it is higher than that, YES is the value side.
- Place a limit orderEnter the price you want rather than taking the market. You buy shares, not a bet slip — the most you can lose is what you paid.
- Decide your exitYou can sell any time before the event resolves, or hold to settlement where each winning share pays $1.
Ready to try it: open Polymarket (opens in a new tab). 18+, eligible states only. Trade what you can afford to lose.
Sources & further reading
Related reading
Polymarket review (2026): the US app, bonus and verdictPolymarket review for US traders: the CFTC-regulated Polymarket US app, how it trades in dollars, where it's avai…Read → Polymarket fees (2026): what the US app really costsPolymarket fees for US traders: how the Polymarket US app shows trading fees, why there are no crypto on-ramp or gas …Read → Is Polymarket legit and safe? A 2026 reality checkYes. Polymarket is a global prediction market, and US traders use its CFTC-regulated US exchange. Here's how …Read → Kalshi vs Polymarket: which should you use? (2026)A direct comparison of Kalshi and Polymarket across legality, fees, market selection, and payout speed. Includes a re…Read →
Deposit $10, Get a $25 Trading Bonus! on Polymarket with code COLLEGEPM
Trade on Polymarket → (opens in a new tab)18+ Only. Restrictions and eligibility requirements apply. Not available in all jurisdictions. Trading is risky. 100% loss can occur. See polymarket.com/tos for more information. The Polymarket US App serves as an independent software provider and affiliate of Polymarket US and Polymarket Clearing, the CFTC-regulated exchange and clearing organization.
21+. Gambling problem? Call 1-800-GAMBLER.
Trade $50, Get $75! on ProphetX with code COLLEGEPM
Trade on ProphetX → (opens in a new tab)18+ only. New traders only. Offer terms are set by ProphetX and may change. Event contract trading involves risk, including loss of the funds you commit. ProphetX is a CFTC-regulated designated contract market and derivatives clearing organization. Not available in all states.
21+. Gambling problem? Call 1-800-GAMBLER.
Trade $25 and Get $25! on Kalshi with code COLLEGEPM
Trade on Kalshi → (opens in a new tab)Certain limitations apply. The offer is available to new users only, subject to the terms and conditions at kalshi.com/tc/500. 18+ only. Restrictions and eligibility requirements apply. Event contract trading involves significant risk and is not appropriate for everyone. Please carefully consider if it is appropriate for you in light of your personal financial circumstances. Kalshi products are not available in all jurisdictions. See kalshi.com/regulatory for more information.
21+. Gambling problem? Call 1-800-GAMBLER.
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Get Rebet → (opens in a new tab)21+. Gambling problem? Call 1-800-GAMBLER.
Frequently asked questions
Which states can use Polymarket?
49 states plus Washington, D.C. Nevada is the exception. You must be 18 or older and verify your identity and location at sign-up.
What's the minimum to start?
You can trade with a few dollars, but the current offer needs a $10 deposit and code COLLEGEPM to unlock the $25 trading bonus.
Do I need crypto to use Polymarket in the US?
No. The US app funds in dollars from the phone. The older global web version settles in USDC on Polygon, but that is a separate product from the US app.
How do prices work?
Every contract settles at $1 or $0. A price of 32¢ means the market puts the chance at about 32%, so $10 buys roughly 31 contracts and returns about $31 if it settles YES.
What does the price actually mean?
A contract settles at $1 if the event happens and $0 if it doesn't, so the price is the market's probability. A contract at 23¢ means roughly a 23% chance, and $1 buys about 4.3 shares.
How much money do I need to start?
You can place a real trade with $10–$20. Contracts are priced in cents, so a $20 balance buys dozens of shares on a cheap market. Start small until you have seen a position settle.
21+ · T&Cs apply · Terms
18+ Only. Restrictions and eligibility requirements apply. Not available in all jurisdictions. Trading is risky. 100% loss can occur. See polymarket.com/tos for more information. The Polymarket US App serves as an independent software provider and affiliate of Polymarket US and Polymarket Clearing, the CFTC-regulated exchange and clearing organization.
