The heavyweight of global prediction markets now has a CFTC-regulated US app. Here’s how Polymarket US works, what it really costs, and where it falls short of the competition.
Polymarket is the platform that made prediction markets famous – it out-forecast the polls in the 2024 election and has cleared tens of billions in volume worldwide. After acquiring a licensed derivatives exchange (QCEX) in 2025, it launched a separate, CFTC-regulated Polymarket US app, which opened to all iPhone users in May 2026. This Polymarket review covers how the US version works, the fee model, how you fund it, the official welcome credit, the real app ratings, and the catches around withdrawals and state access. As always, we stick to official terms – the “$50 with a code” deals you’ll see elsewhere are affiliate referral links, not a Polymarket offer.
Polymarket US has a quick, uncluttered interface and deep liquidity on big markets, it now takes ordinary dollar deposits, and its own “deposit $10, get $25” credit needs no code. The trade-offs are real: withdrawals draw the most complaints, there’s still no Android app, and fees rose in autumn 2026. No horse racing here either.
★ Overview
What is Polymarket? The World’s Biggest Prediction Market, Now in the US
Polymarket is a prediction market exchange where you trade Yes/No contracts on real-world outcomes against other users. The international site (Polymarket.com) is not CFTC-regulated and isn’t open to US traders; US residents use the separate Polymarket US app, run by a CFTC-regulated designated contract market. The two products have separate accounts and separate support teams. Polymarket is backed by a $2 billion investment from Intercontinental Exchange (the company that owns the New York Stock Exchange) and carries data partnerships with MLB, the NHL, UFC and La Liga.
Contracts trade between $0.01 and $0.99 – the price is the market’s implied probability. Win and each contract settles at $1; lose and it’s worth $0. You can sell out before an event ends, just like a stock.
★ Bonus & fees
Polymarket bonus & fees: the official terms
Polymarket’s edge was always price, not promos – but that changed in October 2026. Polymarket US now publishes its own incentive programs, including a welcome credit for a first deposit and a refer-a-friend reward. Neither needs a promo code; the referral “codes” pushed by media sites are affiliate links.
What Polymarket US actually offers
Deposit incentive: deposit at least $10 within 7 days of onboarding and receive a $25 credit, once per person.
Refer-a-friend: when a new user signs up with your username as the referral code and deposits $10 or more, you each receive $25 – up to 50 referrals.
Maker rebates and volume incentives: resting orders that get filled earn a rebate on higher tiers, and active traders can qualify for volume programs.
Fees you’ll actually pay
Cost
What to know
Taker fee
Fee = 0.0695 × contracts × price × (1 – price), effective October 19, 2026. It peaks near $0.50 at about $1.74 per 100 contracts and shrinks toward the extremes. Table tennis markets use a higher 0.10 rate.
Maker rebate
Resting orders that get filled earn a rebate on tiers 2–4 (tier 1 gets none).
Deposits
Debit card, ACH, wire, Apple Pay, PayPal, Venmo and – on iPhone, where available – USDC. Card and ACH deposits take 3–4 business days to clear, though you may get instant buying power.
Withdrawal speed
Withdrawals open once a deposit fully clears and generally return to the funding source; users still report slower payouts and account holds than at rivals.
The US app now runs in dollars, so most traders never touch a crypto wallet. If you do fund with USDC, the old rule still applies: send on the wrong network and the money can be unrecoverable, because nobody can reverse a blockchain transaction.
★ Promo code
Polymarket Promo Code: October 2026
There is no Polymarket promo code you need to enter. The table sums up the official new-customer terms; treat any code you see advertised as an affiliate link rather than a Polymarket offer.
Polymarket Promo Code
October 2026
Promo code
No code required
New-customer offer
Deposit $10+, get a $25 credit
Deadline
First deposit within 7 days of onboarding
Credit
Usable for trades and fees; not withdrawable as cash
Referral bonus
$25 for you and $25 for your friend (up to 50 referrals)
Trading fees
Taker fee peaks at ~$1.74 per 100 contracts; makers rebated
Funding method
Dollars by card, bank, wallet; USDC on iPhone
Verified
October 2026
★ Referral code
Polymarket referral code and invite bonus
On Polymarket US, your referral code is simply your username. A friend who is new to Polymarket US enters it when creating an account, deposits at least $10, and you both receive $25 in trading credit, issued within 7 days of the requirements being met. You can refer up to 50 people. Self-referrals and duplicate accounts are excluded, and Polymarket can reverse credits it judges abusive.
Which welcome campaign you land in depends on the code or link you used at onboarding; without one, you get whatever campaign is running on the day you sign up.
★ Banking
Polymarket deposit methods and withdrawal time
Method
Daily limit
Clears in
Notes
Debit card
$50,000
3–4 business days
Best for small deposits
Bank transfer (ACH)
$50,000
3–4 business days
Best for medium deposits
Wire
No maximum
1 business day
$5,000 minimum
Apple Pay
–
–
iPhone only
PayPal / Venmo
–
–
Supported
USDC
–
–
iPhone, where available
All deposits must come from accounts in your own name. The practical catch is timing: you can usually trade straight away on card or ACH deposits, but you can’t withdraw until the deposit has fully cleared – which is why new users sometimes find their first cash-out takes the best part of a week.
★ Getting started
How to sign up for Polymarket US
Download the Polymarket US app from the App Store (iPhone only for now; Android is listed as coming soon).
Create your account with your Google or Apple ID, then enter your date of birth, phone number, legal name, address and Social Security number.
Complete identity verification (KYC). Most users are verified automatically; some are asked for a photo ID and a selfie check.
Fund your account with a debit card, bank transfer, Apple Pay, PayPal, Venmo or a wire. Deposit $10 or more within 7 days to collect the $25 welcome credit.
Pick a market, choose Yes or No, set your price and size, and confirm.
Sell early or hold to settlement, then withdraw once your deposit has cleared.
★ Markets
Markets and events on Polymarket
Polymarket US started out sports-first but now covers much of what made the global site famous: sports (NFL, NBA, MLB, soccer and esports), elections and politics, economic data such as Fed rates and GDP, daily weather markets for major cities, culture events such as the Oscars, plus news, tech and crypto. You’ll find game winners, props and live in-game contracts. Example: on an NFL game, a “Home team to win” Yes contract at $0.70 implies a ~70% chance; if they win, each contract pays $1. Spreads on headline markets are tight thanks to heavy volume.
Polymarket has no horse racing markets – and no prediction market does. To bet the Kentucky Derby or any race, use a licensed ADW racebook instead. AmWager is our top pick, with a 100% first-deposit match up to $50 for new customers.
★ Trading
How trading on Polymarket works
Open a market, tap Yes or No, set a price and size, and your order fills against other users. Prices move in real time on news, and the app pushes alerts when your position moves. The big advantage over a sportsbook is the exit: if your Yes contract climbs from $0.60 to $0.75, sell and bank the difference without waiting for the result. There’s no built-in house margin (vig) the way a sportsbook bakes -110 into both sides – you pay a visible fee instead.
★ Legality
Is Polymarket legal in the US? Where you can trade
Polymarket US operates under CFTC regulation as a designated contract market, and its App Store listing says it’s available in all 50 states except Nevada. That’s a big change from earlier in 2026, when it was unavailable in nine states. But sports event contracts are contested at the state level and the map shifts monthly.
Status (October 2026)
States
Not available
Nevada (Ninth Circuit ruling, August 2026)
Sports contracts restricted by courts for at least one platform
Massachusetts, Michigan, Washington
At risk after rulings for the state
Ohio, Tennessee, Utah
Contested (lawsuits or enforcement)
Arizona, California, Connecticut, Illinois, Maryland, Minnesota, New Jersey, New York, Rhode Island, Wisconsin
Available
All other states and DC
Polymarket has been named directly in some of these fights – Rhode Island’s attorney general sued Kalshi and Polymarket in May 2026 (the CFTC countersued), and Baltimore filed suit against both in August.
State availability is in active litigation and changes often. Confirm your state in the app before funding, and don’t rely on a flat “legal in all 50 states” claim.
★ US vs global
Polymarket US vs Polymarket.com: what’s the difference?
Who it’s for: Polymarket.com serves users outside the US; Polymarket US is for US residents only.
Regulation: the US app runs on a CFTC-regulated exchange; the global site does not.
Money: the global site runs on USDC; the US app takes dollars by card, bank and wallets.
Accounts: the two aren’t connected – a global account won’t carry over, and US users can’t deposit or trade on the website.
Using a VPN to reach the global site from the US breaks its terms and puts your funds at risk. Stick to the US app.
★ Racing
Can you bet horse racing on Polymarket?
No. Polymarket briefly opened a 2026 Kentucky Derby market, then refunded every trade and pulled it after Churchill Downs objected. Racing sits under the Interstate Horseracing Act, which keeps it off prediction markets. Bet the races on a licensed racebook instead.
★ App review
Polymarket app ratings and reviews
The US app is iPhone-only for now. “Polymarket: Trade Live Sports” rates 4.5★ on the US App Store from roughly 63,000 ratings (October 2026) and is rated 18+.
What users praise: the fastest, cleanest interface in the category; tight spreads on big markets; live in-game trading; and the ability to sell out instead of being locked in.
What draws complaints: slow withdrawals, account holds that freeze balances during reviews, deposits that take days to clear before you can cash out, and no Android app yet. We’ve kept those front and center.
★ Comparison
Polymarket vs Kalshi vs Robinhood
Polymarket US
Kalshi
Robinhood
Welcome offer
Deposit $10, get $25
Referral credit (in-app)
None for predictions
Promo code
Not required
Not required
None
Fee at 50¢ (100 contracts)
$1.74 taker
$1.75 taker
$1.00 commission + exchange fee
Platforms
iPhone
iOS, Android, web
iOS, Android, web
Where unavailable
Nevada
Sports off in MA, MI, NV, WA
Maryland; no new sports in NV, MI
Interest on cash
No
3.50% APY ($250+)
Via Robinhood account
Kalshi is the closest like-for-like rival: almost identical fees at 50¢, a wider menu and Android support. Robinhood suits existing customers, while DraftKings Predictions offers the biggest headline welcome package in the category.
★ Pros & cons
Polymarket pros and cons
Pros
Fastest interface in the space
Deep liquidity, tight spreads on big markets
Official $25 credit for a $10 deposit – no code
Dollar deposits by card, bank, Apple Pay, PayPal or Venmo
Heavyweight backing (ICE/NYSE)
Cons
iPhone only – no Android app yet
Slow withdrawals and account holds
Card and ACH deposits take days to clear
Taker fees rose in October 2026
No horse racing markets
★ Verdict
Verdict: who Polymarket is best for
Polymarket US is the pick if you value speed, deep liquidity and low fees – and with dollar deposits and a $25 welcome credit, it’s far easier to start than it used to be. It’s a weaker fit if you need fast withdrawals or use an Android phone, in which case Kalshi is the more complete all-rounder right now. Many active traders keep accounts on both to shop the best price.
Polymarket US is a CFTC-regulated designated contract market and, as of October 2026, is available in every state except Nevada. Sports contracts remain contested in several states. The international Polymarket.com is separate and not US-regulated.
Is Polymarket the same as sports betting?
No. You trade Yes/No contracts against other users on a regulated exchange rather than betting against a sportsbook’s odds – though several states argue the sports contracts resemble betting.
What are Polymarket’s fees?
A taker fee of 0.0695 × contracts × price × (1 – price), which peaks near $0.50 at about $1.74 per 100 contracts and shrinks at the extremes. Makers on higher tiers earn a rebate.
Does Polymarket have a promo code or sign-up bonus?
It has a sign-up bonus but no code is needed: new Polymarket US users who deposit at least $10 within 7 days of onboarding get a $25 trading credit. Codes advertised elsewhere are affiliate referral links.
What is the Polymarket promo code for October 2026?
There isn’t an official Polymarket promo code. The $25 deposit credit applies to the campaign live when you sign up, without a code. Any code you see is an affiliate link, not a Polymarket offer.
Can I withdraw the Polymarket $25 bonus?
No. The credit can be used to open positions and pay fees, but it can’t be withdrawn as cash. Profits above the credit become regular, withdrawable funds.
How do I withdraw from Polymarket and how fast is it?
Withdrawals open once your deposit has fully cleared – card and ACH deposits take 3–4 business days – and generally go back to the funding source. Users report slower payouts than at rivals, plus occasional account holds.
Do I need crypto to use Polymarket?
Not any more. Polymarket US takes debit cards, bank transfers, wires, Apple Pay, PayPal and Venmo. USDC is an option on iPhone where available, but you don’t need it.
Is Polymarket available on Android?
Not yet. The Polymarket US app is on the App Store for iPhone; Polymarket lists the Android version as coming soon.
Can I bet the Kentucky Derby or horse racing on Polymarket?
No. Polymarket pulled its 2026 Derby market after Churchill Downs objected, and offers no racing. Use a licensed ADW racebook such as AmWager.
Can I sell my Polymarket position early?
Yes. You can sell back to the market at the current price any time before settlement to lock a profit or cut a loss.
Is Polymarket safe and legitimate?
Polymarket US is CFTC-regulated and backed by Intercontinental Exchange. It’s legitimate, but it’s a trading product – your capital is at risk, and if you fund with USDC, a mishandled transfer can’t be reversed.
How we checked this page (8 sources)
Offers, codes, fees and state lists are checked against the operators’ own pages and state or federal regulators. Last checked .
Play responsibly. 21+ for sportsbooks (18+ in a few states); 18+ for most prediction markets, 21+ on some platforms and in some states. Only play where it is legal. Gambling problem? Call or text 1-800-GAMBLER.
