Complete Guide: How to Use Polymarket in the United States

I. US Regulatory Compliance and Getting Started

Following a period of regulatory review, Polymarket has received approval from the US Commodity Futures Trading Commission (CFTC) to operate in the United States. This marks a critical step, ensuring the platform’s legality for American users.

To get started on Polymarket, you will need to complete a simple registration process and pass basic identity verification (Know Your Customer/KYC) to comply with US regulations.

II. The Golden Rule: Funding Your Account (USDC on the Polygon Network)

The primary hurdle for new users is understanding the platform’s financial stack. Polymarket uses decentralized finance architecture for lightning-fast, low-cost trading.

Critical Requirements for Funding Polymarket

1. The Currency: Polymarket exclusively uses USDC (USD Coin) for betting, a stablecoin pegged 1:1 to the U.S. dollar.
2. The Network: Polymarket operates on the Polygon blockchain (a Layer-2 scaling solution).

WARNING: Do not send Bitcoin, regular Ethereum (ERC-20), or other cryptocurrencies directly to your Polymarket address. You must send USDC specifically via the Polygon network. Sending funds via the wrong network (e.g., Ethereum mainnet) can result in the permanent loss of your funds.

Method 1: Depositing from a Centralized Exchange (Coinbase, Kraken, etc.)

For most users, the easiest way to fund Polymarket is by transferring USDC from a major exchange that supports Polygon withdrawals.

Step 1: Get Your Address

1. Log in to Polymarket.
2. Click the blue “Deposit” button at the top right.
3. Select the “Crypto” or “Exchange” option.
4. Copy your unique Polymarket Deposit Address (this starts with “0x…”).

Step 2: Withdraw from Exchange

1. Go to your exchange account (e.g., Coinbase).
2. Select “Withdraw” or “Send” and choose USDC.
3. Paste the Polymarket address you just copied as the recipient.
4. CRITICAL STEP: When asked for the “Network,” select Polygon (sometimes labeled as MATIC).
   • Note: If your exchange does not support Polygon withdrawals for USDC, you will need to use Method 3.
5. Confirm the transaction. The funds should arrive in your Polymarket account within minutes.

Method 2: Buying Directly with Cash (Fiat On-Ramps)

If you don’t own any crypto yet, you can buy USDC directly within the Polymarket interface using a credit card, debit card, or bank transfer. Polymarket integrates with trusted third-party providers like MoonPay, Robinhood Connect, and Coinbase Pay.

Step 1: Access the ‘Buy’ Menu

1. Click “Deposit” on Polymarket.
2. Select the “Buy” or “Card” tab.

Step 2: Choose a Provider You will see options such as:

• MoonPay: Allows purchases via Debit/Credit Card, Apple Pay, or Google Pay.
• Robinhood Connect: Allows you to fund directly from your Robinhood balance.
• Coinbase Pay: Connects directly to your Coinbase account for seamless transfers.

Step 3: Complete Purchase

1. Enter the amount of USD you wish to convert to USDC.
2. Follow the provider’s prompts to verify your identity and enter payment details.
3. Once the transaction clears, the provider will automatically send the USDC to your Polymarket wallet.

Pros: Extremely convenient and beginner-friendly. Cons: Fees are typically higher (often 1-4%) compared to exchange transfers.

Method 3: Transferring from a Web3 Wallet (MetaMask, Phantom)

If you are a crypto-native user with funds already in a private wallet, you can deposit directly.

Step 1: Check Your Network Ensure your wallet is connected to the Polygon network.

Step 2: Send Funds

1. Open your wallet extension.
2. Select USDC.
3. Click “Send”.
4. Paste your Polymarket deposit address.
5. Enter the amount and confirm.

What if I have funds on Ethereum Mainnet? If your USDC is on Ethereum (Layer 1), you cannot send it directly. You must first Bridge it.

1. Use the official Polygon Bridge or a third-party bridge (like Hop Protocol or Across) to move USDC from Ethereum to Polygon.
2. Once the funds arrive on the Polygon side of your wallet, send them to your Polymarket address.

III. Making a Prediction (Trading Shares)

Once funded, you can begin trading. Remember, the share price reflects the market’s perceived probability.

Step 1: Choose a Market Browse the available categories (Politics, Crypto, Sports, Culture) and select a market question, e.g., “Will Candidate X win the next election?”

Step 2: Analyze the Price Each outcome has a price between $0.00 and $1.00.

• If “Yes” shares are at $0.80, the market estimates an 80% chance of a “Yes” outcome.
• If “No” shares are at $0.20, the market estimates a 20% chance of a “No” outcome.

Step 3: Buy Shares If you believe the probability is higher than the current price (e.g., you think the chance is 90% but the price is $0.80), you buy the “Yes” shares.

1. Enter the number of shares you want to buy (or the total USDC you want to spend).
2. Execute the trade. You are now a holder of outcome shares.

You can hold these shares until the market resolves, or you can sell them anytime before the market closes to lock in profits or cut losses.

IV. Cashing Out: Payouts and Withdrawals

When the market event is complete (e.g., the election result is certified), the market is resolved by the decentralized UMA Oracle system.

1. Settlement: Shares corresponding to the true outcome are automatically settled at $1.00 USDC each. Losing shares settle at $0.00.
2. Withdrawal: The USDC profits are instantly available in your Polymarket account. You can navigate to the “Withdraw” section on your account page and send the funds back to your centralized exchange (like Coinbase) or private Web3 wallet (Method 3) via the Polygon network. There are typically no platform fees for withdrawals.

V. Troubleshooting & Tips

• Minimum Deposits: While Polymarket doesn’t strictly enforce high minimums, on-ramp providers (like MoonPay) usually have a minimum purchase amount (e.g., $30).
• Gas Fees: Because Polymarket uses Polygon, network fees are incredibly low (fractions of a cent). However, some exchanges charge a flat fee for withdrawals.
• Wait Times: Polygon is fast. Deposits typically appear in 1–5 minutes. If it takes longer, check a blockchain explorer (like PolygonScan) using your address to see if the transaction is pending.

By following these steps and ensuring you are always operating on the Polygon network, U.S. residents can safely and efficiently participate in the world of prediction markets offered by Polymarket.