Polymarket is a prediction market that lets you trade shares in the chance of a real-world event. Buy a YES share at 38 cents and you are saying the market thinks there is a 38 per cent chance the event happens. If it does, the share pays 100 cents. If not, it pays zero. The platform runs on Polygon, settles trades in USDC, and is the largest of its kind today.

Field	Value
What it is	A prediction market platform
Founded	2020
Founder	Shayne Coplan
Network	Polygon (Layer 2 on Ethereum)
Settlement asset	USDC
Trade fee	1 per cent per fill
Minimum trade	1 USDC
SA access	Yes, as of [igr_dynamic_stat key=”polymarket_last_tested”]

What Polymarket is in one paragraph

Polymarket is an online exchange where you trade YES and NO shares in real-world events. Shares are priced between 1 cent and 99 cents. The price is the market’s belief that the event resolves YES. Buy YES at 38 cents and the market is saying “38 per cent chance”. If you are right and the event resolves YES, every share you own pays 100 cents. If you are wrong, it pays zero. That is the whole product in one paragraph.

Who built it and when

Polymarket was founded in 2020 by Shayne Coplan, then 22 years old. The company is based in New York and has raised funding from Founders Fund, Vitalik Buterin, and other names in the crypto and tech world. The platform launched on Polygon, a Layer 2 network on top of Ethereum, to keep fees low and trades fast.

Polymarket sat in a US legal grey area through its first few years. In 2022 the platform paid a settlement to the CFTC and now restricts US users from most markets. The platform stayed open to international users, including SA, where it has no licence requirement to operate.

What you can trade on

Markets are grouped into five categories. Two live example markets in each.

• Politics. “Will the SA 2027 election produce a coalition government?” “Who will be the next UK Prime Minister?”
• Sports. “Will the Springboks win the 2027 Rugby World Cup?” “Will Mamelodi Sundowns win the PSL 2026/27?”
• Crypto. “Will Bitcoin close above 100,000 USD on 31/12/2026?” “Will Ethereum hit 5,000 USD in 2026?”
• Pop culture. “Best Picture winner at the 2027 Oscars?” “Will the next Taylor Swift album go platinum in its first week?”
• Weather and macro. “Will El Nino be active in the SA summer 2026/27?” “Will the SARB cut rates at the next MPC meeting?”

The platform adds new markets all the time. Examples here are for illustration only. Verify the live market list on the day.

A worked example trade

Take the Bitcoin market: “Will Bitcoin close above 100,000 USD on 31/12/2026?” The YES share trades at 38 cents. The NO share trades at 62 cents. You think 38 cents is too cheap, so you buy 10 YES shares.

• Cost. 10 shares x 38 cents = 380 cents = 3.80 USDC.
• Fee. 1 per cent x 3.80 USDC = 0.04 USDC.
• Total. 3.84 USDC.

Two outcomes on 31/12/2026.

• YES wins. 10 shares x 100 cents = 10.00 USDC payout. Profit: 6.16 USDC.
• NO wins. 10 shares x 0 cents = 0 USDC. Loss: 3.84 USDC.

You did not need to predict the exact Bitcoin price. You only needed to be on the right side of 100,000 USD on one date. That is the model.

How Polymarket makes money

Two revenue streams. The 1 per cent trade fee, taken at every fill. And the spread on the AMM side of the platform, where the automated market maker quotes a slightly wider price than the order book. Both add up to a fraction of what a SA sportsbook charges per trade.

Polymarket does not run a bookmaker’s book. The platform never takes the other side of your trade. Every trade you place is matched against another trader (order book) or the AMM pool (a smart contract). That is the structural reason fees stay low.

Why people use it

• Sharper pricing. Polymarket prices have become a reference in mainstream news on US elections, often more current than poll averages.
• Broader coverage. Politics, weather, pop culture, crypto, sports, all in one place.
• Lower per-trade cost. 1 per cent fee beats the 5 to 10 per cent margin built into SA sportsbook odds.
• Long-running markets. A SA bookie closes its book at kick-off. Polymarket can run a market on the next national election for months.
• USDC payouts. Winnings hit a wallet in minutes, not 1 to 5 banking days.

What to read next

For the full Polymarket breakdown, fees, KYC, withdrawal flow and score, read the Polymarket review. For the mechanics in detail, read how prediction markets work. For the SA legal picture, read is Polymarket legal in South Africa.

Page FAQ

Is Polymarket a bookmaker?

No. A bookmaker sets odds and takes the other side. Polymarket is an exchange that matches traders against each other, with prices set by the live market.

Who can use Polymarket?

International users with internet access and a crypto wallet. US users are restricted from most markets after a 2022 CFTC settlement. SA users have access as of [igr_dynamic_stat key=”polymarket_last_tested”].

Is Polymarket free to join?

Yes. There is no sign-up fee. The platform earns from the 1 per cent trade fee at every fill, not from account fees.

Does Polymarket have an app?

No native app on the SA Apple App Store or Google Play. The mobile web app works on iPhone and Android browsers.

What is the smallest trade?

1 USDC at time of writing, roughly 18 to 20 ZAR.

Where can I see live markets?

polymarket.com lists every active market on the homepage and by category. Each market shows the live YES and NO prices, order book depth and the resolution criteria.

Keep reading

• Polymarket review, the full breakdown of fees, KYC, withdrawals and SA access.
• How prediction markets work, the mechanics in detail.
• Prediction markets hub, the section homepage.
• Glossary, every term defined.

In South Africa? See Polymarket in South Africa.