+
+ 
+
+
+## Markets
+
+A **market** is the fundamental tradable unit on Polymarket. Each market represents a single binary question with Yes/No outcomes.
+
+
+ 
+
+ 
+
+
+Every market has:
+
+| Identifier | Description |
+| ---------------- | ------------------------------------------------------------------------ |
+| **Condition ID** | Unique identifier for the market's condition in the CTF contracts |
+| **Question ID** | Hash of the market question used for resolution |
+| **Token IDs** | ERC1155 token IDs used for trading on the CLOB — one for Yes, one for No |
+
+
+
+ 
+
+
+## How Orders Work
+
+All orders on Polymarket are **limit orders**. A limit order specifies the price you're willing to pay (or accept) and the quantity you want to trade.
+
+
+
+ 
+
+
+## Outcome Tokens
+
+Each market has exactly two outcome tokens:
+
+| Token | Redeems for | If... |
+| ------- | ----------- | ------------------------ |
+| **Yes** | \$1.00 | The event occurs |
+| **No** | \$1.00 | The event does not occur |
+
+Tokens are **ERC1155** assets on Polygon, using the [Gnosis Conditional Token Framework](https://github.com/gnosis/conditional-tokens-contracts/) (CTF). This means they're fully onchain and function as standard ERC1155 tokens.
+
+
+
+ 
+
+
+## Prices = Probabilities
+
+Every share on Polymarket is priced between `$0.00` and `$1.00`. The price directly represents the market's belief in the probability of that outcome.
+
+| Price | Implied Probability |
+| ------ | ------------------- |
+| \$0.25 | 25% chance |
+| \$0.50 | 50% chance |
+| \$0.75 | 75% chance |
+
+
+
+ 
+
+
+This design gives you the speed of centralized matching with the security of onchain settlement. You always maintain custody of your funds.
+
+## Price Discovery
+
+When a new market launches, there's no initial price. The first price emerges when:
+
+1. Someone places a limit order to buy Yes at a price (e.g., `$0.60`)
+2. Someone places a limit order to buy No at the complementary price (e.g., `$0.40`)
+3. Since `$0.60` + `$0.40` = `$1.00`, the orders match
+
+When matched, `$1.00` is converted into 1 Yes token and 1 No token, each going to their respective buyers.
+
+## Next Steps
+
+
+
+ 
+
+
+## Resolution Rules
+
+Every market has pre-defined resolution rules that specify:
+
+* **Resolution source** — Where the outcome will be determined from (e.g., official announcements, specific websites)
+* **End date** — When the market is eligible for resolution
+* **Edge cases** — How ambiguous situations should be handled
+
++ npm install @polymarket/clob-client +
+pip install py-clob-client
+
Website - Operational
CLOB API - Operational
Markets API - Operational
Polygon (RPC) - Operational
User auth - Operational
Sports API - Operational
+ npm install @polymarket/clob-client +
+pip install py-clob-client
++ npm install @polymarket/clob-client +
+pip install py-clob-client
+
+
+ 
+
+
+## Token Identifiers
+
+Each outcome token has a unique **position ID** (also called token ID or asset ID), computed onchain in three steps.
+
+### Step 1 — Condition ID
+
+```
+getConditionId(oracle, questionId, outcomeSlotCount)
+```
+
+| Parameter | Type | Value |
+| ------------------ | --------- | ---------------------------------------------------------------- |
+| `oracle` | `address` | [UMA CTF Adapter](https://github.com/Polymarket/uma-ctf-adapter) |
+| `questionId` | `bytes32` | Hash of the UMA ancillary data |
+| `outcomeSlotCount` | `uint` | `2` for all binary markets |
+
+### Step 2 — Collection IDs
+
+```
+getCollectionId(parentCollectionId, conditionId, indexSet)
+```
+
+| Parameter | Type | Value |
+| -------------------- | --------- | --------------------------------------------------------------- |
+| `parentCollectionId` | `bytes32` | `bytes32(0)` — always zero for top-level positions |
+| `conditionId` | `bytes32` | The condition ID from step 1 |
+| `indexSet` | `uint` | `1` (`0b01`) for the first outcome, `2` (`0b10`) for the second |
+
+The `indexSet` is a bitmask denoting which outcome slots belong to a collection. It must be a nonempty proper subset of the condition's outcome slots. Binary markets always have exactly two collections — one per outcome.
+
+### Step 3 — Position IDs
+
+```
+getPositionId(collateralToken, collectionId)
+```
+
+| Parameter | Type | Value |
+| ----------------- | --------- | ----------------------------------------- |
+| `collateralToken` | `IERC20` | USDC.e contract address on Polygon |
+| `collectionId` | `bytes32` | One of the two collection IDs from step 2 |
+
+The two resulting position IDs are the ERC1155 token IDs for the Yes and No outcomes of the market.
+
+
+| Benefit | Description |
+| ------------------- | ------------------------------------------------------------------------------- |
+| **Relayer Access** | Gas-free wallet deployment, approvals, order execution and CTF operations |
+| **Volume Tracking** | All orders attributed to your builder profile |
+| **Weekly Rewards** | USDC rewards program based on volume (Verified+) |
+| **Leaderboard** | Public visibility on [builders.polymarket.com](https://builders.polymarket.com) |
+| **Support** | Telegram channel and engineering support (Verified+) |
-### Customize Your Builder Identity
+
-2. **Event**
- 1. Contains a set of markets
- 2. Variants:
- 1. Event with 1 market (i.e., resulting in an SMP)
- 2. Event with 2 or more markets (i.e., resulting in an GMP)
+
+
-# Example
+## Markets
-* **\[Event]** Where will Barron Trump attend College?
- * **\[Market]** Will Barron attend Georgetown?
- * **\[Market]** Will Barron attend NYU?
- * **\[Market]** Will Barron attend UPenn?
- * **\[Market]** Will Barron attend Harvard?
- * **\[Market]** Will Barron attend another college?
+A **market** is the fundamental tradable unit on Polymarket. Each market represents a single binary question with Yes/No outcomes.
+
+
+
+
+
+
+
+Every market has:
+
+| Identifier | Description |
+| ---------------- | ------------------------------------------------------------------------ |
+| **Condition ID** | Unique identifier for the market's condition in the CTF contracts |
+| **Question ID** | Hash of the market question used for resolution |
+| **Token IDs** | ERC1155 token IDs used for trading on the CLOB — one for Yes, one for No |
+
+
-To allow CTF markets to be resolved via the OO, Polymarket developed a custom adapter contract called `UmaCtfAdapter` that provides a way for the two contract systems to interface.
+
+
+
+## Resolution Rules
+
+Every market has pre-defined resolution rules that specify:
+
+* **Resolution source** — Where the outcome will be determined from (e.g., official announcements, specific websites)
+* **End date** — When the market is eligible for resolution
+* **Edge cases** — How ambiguous situations should be handled
+
+![]({"/images/icons/"){kind=icon}
+ + {description} +
+ + ); +}; + + + ++ Make your first API request in minutes. Learn the basics of the Polymarket platform, fetch market data, place orders, and redeem winning positions. +
+ + ++ Learn the fundamentals, explore our APIs, and start building on the world's largest prediction market. +
+ +
+
+ 
+
+ 
+
+
+### Prices = Probabilities
+
+Every share on Polymarket is priced between `$0.00` and `$1.00`. The price represents the market's belief in the probability of that outcome occurring.
+
+For example, if "Yes" shares for an event are trading at `$0.65`, the market believes there's approximately a `65%` chance the event will happen.
+
+### Collateral and Tokens
+
+Polymarket uses USDC.e (Bridged USDC on Polygon) as collateral. Every Yes/No pair is fully backed:
+
+* `$1 USDC.e` creates one Yes share and one No share
+* Winning shares are redeemable for `$1.00`
+* Losing shares are worth `$0.00`
+
+Shares are represented as tokens using the [Gnosis Conditional Token Framework](https://github.com/gnosis/conditional-tokens-contracts/) (ERC1155 standard), enabling seamless onchain trading and settlement.
+
+### Trading
+
+Polymarket uses a peer-to-peer order book (CLOB) for trading. You trade directly with other users, not against the house.
+
+* **Buy shares** when you think the market underestimates the probability
+* **Sell shares** when you think the market overestimates the probability
+* **Exit anytime** - Sell your position before resolution to lock in profits or cut losses
+
+| Action | When to Use | Profit Scenario |
+| ------- | ------------------------------------- | ------------------------- |
+| Buy Yes | You think the probability is too low | Event occurs |
+| Buy No | You think the probability is too high | Event does not occur |
+| Sell | Lock in gains or limit losses | Price moves in your favor |
+
+### Resolution
+
+When an event concludes, markets are resolved through the **UMA Optimistic Oracle**:
+
+1. A proposer submits the outcome with a bond
+2. There's a challenge period where anyone can dispute
+3. If disputed, UMA token holders vote on the correct resolution
+4. Winning tokens become redeemable for \$1 USDC.e
+
+This community-driven process ensures fair and accurate market resolution.
+
+## Why Blockchain?
+
+Polymarket is built on **Polygon**, a blockchain network, for several key reasons:
+
+* **Global accessibility** - Anyone with an internet connection can participate
+* **Non-custodial** - You control your funds, not a centralized entity
+* **Transparent** - All activity is publicly verifiable onchain
+* **Fast and affordable** - Polygon enables quick, low-cost transactions
+* **Stable value** - USDC.e is pegged 1:1 to the US dollar, avoiding crypto volatility
+
+## Proxy Wallets
+
+When a user first uses Polymarket.com to trade they are prompted to create a wallet. When they do this, a 1 of 1 multisig is deployed to Polygon which is controlled/owned by the accessing EOA (either MetaMask wallet or MagicLink wallet). This proxy wallet is where all the user's positions (ERC1155) and USDC.e (ERC20) are held.
+
+Using proxy wallets allows Polymarket to provide an improved UX where multi-step transactions can be executed atomically and transactions can be relayed by relayers on the gas station network. If you are a developer looking to programmatically access positions you accumulated via the Polymarket.com interface, you can either continue using the smart contract wallet by executing transactions through it from the owner account, or you can transfer these assets to a new address using the owner account.
+
+### Deployments
+
+Each user has their own proxy wallet (and thus proxy wallet address). See [Contract Addresses](/resources/contract-addresses) for all deployed factory and trading contract addresses on Polygon.
+
+
Getting data from Polymarket
Yes! Developers can find all the information they need for interacting with Polymarket. This includes documentation on market discovery, resolution, trading etc.
Whether you are an academic researcher a market maker or an indepedent developer, this documentation should provide you what you need to get started. All the code you find linked here and on our GitHub is open source and free to use.
If you have any questions please join our Discord and direct your questions to the #devs channel.
Adding market embeds to your Substack or website.
Polymarket allows you to embed a live-updating widget displaying the latest odds for markets in many places around the web.
Navigate to the individual market you want to embed and click the embed (< >) link. Select light or dark mode, and copy the auto-generated code Paste the code into your code editor or CMS and publish as normal.
Navigate to any Polymarket market Copy the URL from your browser Paste the URL into the compose window.
The embeds feature currently supports single markets only (eg “USA to Win Most Gold Medals”, not “Most Gold Medals at Paris Olympics’)
To embed a market, navigate on Polymarket.com to the single market you want to embed and click “copy link.”
Navigate to your Substack editor and paste the link directly into the body of your newsletter. The editor will recognize the market and convert it to a widget that automatically refreshes with the latest odds.
Exporting your private key on Magic.Link
Exporting your private key gives you direct control and security over your funds. This process is applicable if you’ve signed up via email.
DO NOT share your private key with other parties, platforms, or people. We will never ask for your private key.
Access the Export Link while signed into Polymarket: https://reveal.magic.link/polymarket
Sign-in on Magic.Link
Export Private Key. Once revealed, you should securely store the private key displayed, where others can’t access it.
Log out of Magic.Link
Yes. Polymarket is non-custodial, so you’re in control of your funds.
Polymarket recognizes the importance of a trustworthy environment for managing your funds. To ensure this, Polymarket uses non-custodial wallets, meaning we never take possession of your USDC. This approach gives you full control over your assets, providing protection against potential security threats like hacks, misuse, and unauthorized transactions.
A private key acts like a highly secure password, essential for managing and moving your assets without restrictions. You can export your private key at any time, ensuring sole access to your funds. Learn how to export your private key here
Do not share your private key with others. While Polymarket provides the infrastructure, the security of your assets depends on how securely you handle your private key and passwords. Losing your private key or passwords can result in losing access to your funds. It’s crucial to store this information in a safe and secure environment.
Polymarket aims to give you peace of mind, knowing that your assets are safe and fully under your control at all times. We encourage you to take necessary precautions to secure your digital assets effectively. The ability to manage your private key means you are not reliant on Polymarket to secure your assets; you have the control to ensure your financial security.
No, Polymarket is not the house. All trades happen peer-to-peer (p2p).
Polymarket is different in three ways:
Polymarket is a marketplace comprised of traders on both sides of any given market. This means you’re always trading with other users, not against a centralized entity or “house.” Prices on Polymarket are determined by supply and demand. As traders buy and sell shares in outcomes, prices fluctuate to reflect the collective sentiment and knowledge of market participants.
Unlike bookmakers or wagering operations, Polymarket does not charge deposit/withdrawal fees, or any type of trading fees. This means that Polymarket does not stand to benefit from the outcome of any market or usage of any trader.
Polymarket enables you to sell your position at any time before the market resolves, provided there is a willing buyer of your shares. This offers flexibility and allows you to manage your risk and lock in profits or cut losses as you see fit.
In essence, Polymarket empowers you to trade based on your own knowledge and research, without going up against a “house” with potentially unfair advantages.
How is Polymarket better than traditional / legacy polling?
While legacy polls capture a snapshot of opinion at a specific moment, they are often outdated by the time they’re published—sometimes lagging by several days. In contrast, Polymarket reflects real-time sentiment as events unfold, offering continuous updates and a more dynamic understanding of public opinion.
Studies show that prediction markets like Polymarket tend to outperform traditional pollsters because participants are financially incentivized to be correct. This creates more thoughtful, data-driven predictions. Research by James Surowiecki, author of The Wisdom of Crowds, has highlighted how markets like these can be more accurate than polls due to the “collective intelligence” of diverse participants. Additionally, the Iowa Electronic Markets, an academic research project at the University of Iowa, has consistently demonstrated the superior accuracy of prediction markets like Polymarket over traditional polling in predicting political outcomes.
Polymarket provides a constantly updating picture of public sentiment, offering a degree of accuracy and timeliness that traditional pollsters, who typically report data that is days old, simply cannot match.
If you deposited the wrong cryptocurrency on Ethereum or Polygon, use these tools to recover those funds.
Use this tool if you deposited the wrong token on Ethereum.
Go to https://recovery.polymarket.com and sign in with your Polymarket account or connect the wallet you use on Polymarket.
Select the asset you incorrectly deposited.
You’ll then see the asset balance displayed, and will have the ability to recover those funds to your specified wallet.
Use this tool if you deposited the wrong token on Polygon.
Go to https://matic-recovery.polymarket.com and sign in with your Polymarket account or connect the wallet you use on Polymarket
Select the asset you incorrectly deposited.
You’ll then see the asset balance displayed, and will have the ability to recover those funds to your specified wallet.
Yes, you can sell or close your position early.
You may sell shares at any point before the market is resolved by either placing a market order to sell shares at the prevailing bid price in the orderbook, or by placing a limit order for how many shares you wish to sell and at what price.
The limit order will only be executed if/when there is a willing buyer for your shares at the price you set.
Polymarket offers technical support through our website chat feature, and through Discord.
To contact support through our website:
Navigate to Polymarket.
Click the blue chat icon in the bottom right and start your chat session.
For technical support on Discord:
Join the Polymarket Discord server
Navigate to the Support sidebar and click #open-a-ticket. This will open a private conversation with a Polymarket team member.
Be aware of numerous scams and malicious links. Polymarket team members will never DM you first or ask for private keys or personal information. Polymarket team members are identified in blue font on Discord.
Polymarket does not have a token
All trading and liquidity rewards are in USDC, a USD-pegged stablecoin.
Polymarket has not announced plans for any airdrop or token generation event. Be wary of scams claiming airdrops, giveaways, etc.
If in doubt, refer to official Polymarket communication channels:
Twitter / X: https://x.com/polymarket
Discord: https://discord.gg/polymarket
How people collectively forecast the future.
A prediction market is a platform where people can bet on the outcome of future events. By buying and selling shares in the outcomes, participants collectively forecast the likelihood of events such as sports results, political elections, or entertainment awards.
Market Prices = Probabilities: The price of shares in a prediction market represents the current probability of an event happening. For example, if shares of an event are trading at 20 cents, it indicates a 20% chance of that event occurring.
If you believe the actual probability of an event is higher than the market price suggests, you can buy shares. For instance, if you think a team has a better than 20% chance of winning, you would buy shares at 20 cents. If the event occurs, each share becomes worth $1, yielding a profit.
You can buy or sell shares at any time before the event concludes, based on new information or changing circumstances. This flexibility allows the market prices to continuously reflect the most current and accurate probabilities.
Prediction markets provide unbiased and accurate probabilities in real time, cutting through the noise of human and media biases. Traditional sources often have their own incentives and slants, but prediction markets operate on the principle of “put your money where your mouth is.” Here, participants are financially motivated to provide truthful insights, as their profits depend on the accuracy of their predictions.
In a prediction market, prices reflect the aggregated sentiment of all participants, weighing news, data, expert opinions, and culture to determine the true odds. Unlike media narratives, which can be swayed by various biases, prediction markets offer a transparent view of where people genuinely believe we’re heading.
Prediction markets are often more accurate than traditional polls and expert predictions. The collective wisdom of diverse participants, each motivated by the potential for profit, leads to highly reliable forecasts. This makes prediction markets an excellent tool for gauging real-time probabilities of future events.
Polymarket, the world’s largest prediction market, offers a user-friendly platform to bet on a wide range of topics, from sports to politics. By participating, you can profit from your knowledge while contributing to the accuracy of market predictions.
Why Polymarket uses crypto and blockchain technology to create the world’s largest Prediction market.
Polymarket operates on Polygon, a proof-of-stake layer two blockchain built on Ethereum. All transactions are denominated in USDC, a US-dollar pegged stablecoin.This architecture offers several advantages over traditional prediction markets:
Polymarket denominates trades in USDC, which is pegged 1:1 to the US Dollar. This shields you from the volatility associated with other cryptocurrencies and offers a stable medium for trading.
USDC operates in adherence to regulatory standards and is backed by reserved assets.
Blockchain technology facilitates transparency, as all transactions are recorded publicly.
Research has shown that wide availability of prediction markets increases their accuracy. Using decentralized blockchain technology removes the need for a central authority in trading, which fosters fairness and open participation around the globe.
- How to add cash to your balance on Polymarket.
To deposit funds into your Polymarket account:
Click Deposit.
Select your deposit method (for example, Transfer Crypto).
Choose the token and network (chain) you want to use.
Copy your deposit address.
Send the minimum required amount to that address.
After the transaction confirms, refresh the page — your funds will appear in your balance.
Always double-check the network and deposit address before sending funds. Transactions sent to the wrong chain or address cannot be reversed.
To withdraw funds from your Polymarket account:
Go to your Portfolio.
Click Withdraw.
Enter the recipient address.
Select the token, amount, and network (chain).
Click Withdraw to confirm the transaction.
After the withdrawal is processed, your funds will be sent to the specified address.
How to add cash to your balance on Polymarket.
To deposit funds into your Polymarket account:
Click Deposit.
Select your deposit method (for example, Transfer Crypto).
Choose the token and network (chain) you want to use.
Copy your deposit address.
Send the minimum required amount to that address.
After the transaction confirms, refresh the page — your funds will appear in your balance.
Always double-check the network and deposit address before sending funds. Transactions sent to the wrong chain or address cannot be reversed.
+Retrieve the full list of supported chains and tokens with their minimum deposit amounts.
-1. **Click on the Deposit button** and **select Transfer Crypto** as a source option
-2. **Select which supported token and chain** your assets are on from the dropdown
- * Depending on your combination, this **may update the deposit address**
- * Only send **supported token-chain combinations**
- * Sending non-supported tokens may cause an irrecoverable loss
-3. **Scan the QR code or copy the deposit address** and paste as the recipient in the withdrawal/transfer page of your exchange/wallet
- * This is where you'll specify how much crypto you're transferring
- * You **must send more than the minimum deposit** amount or the funds will not process
- * Always ensure to **double check the pasted address** versus that is shown on the widget to protect against clickjacking attempts
- * You can click on the **collapsible section at the bottom of the widget** for estimated price impact, slippage, delivery time, and our help guide
-4. **Withdraw/transfer the tokens** from your exchange/wallet and wait until they're reflected on the dApp
- * You will receive notifications on the Fun widget as your withdraw/transfer processes and completes as shown below
+```bash theme={null}
+curl https://bridge.polymarket.com/supported-assets
+```
-
+## Supported Chains
-
+The bridge supports deposits from these blockchain networks:
-## **What can I transfer?**
+| Chain | Address Type | Min Deposit | Example Tokens |
+| --------------- | ------------ | ----------- | ------------------------------------------- |
+| Ethereum | EVM | \$7 | ETH, USDC, USDT, WBTC, DAI, LINK, UNI, AAVE |
+| Polygon | EVM | \$2 | POL, USDC, USDT, DAI, WETH, SAND |
+| Arbitrum | EVM | \$2 | ETH, ARB, USDC, USDT, DAI, WBTC, USDe |
+| Base | EVM | \$2 | ETH, USDC, USDT, DAI, cbBTC, AERO, USDS |
+| Optimism | EVM | \$2 | ETH, OP, USDC, USDT, DAI, USDe |
+| BNB Smart Chain | EVM | \$2 | BNB, USDC, USDT, DAI, ETH, BTCB, BUSD |
+| Solana | SVM | \$2 | SOL, USDC, USDT, USDe, TRUMP |
+| Bitcoin | BTC | \$9 | BTC |
+| Tron | TVM | \$9 | USDT |
+| HyperEVM | EVM | \$2 | HYPE, USDC, USDe, stHYPE, UBTC, UETH |
+| Abstract | EVM | \$2 | ETH, USDC, USDT |
+| Monad | EVM | \$2 | MON, USDC, USDT |
+| Ethereal | EVM | \$2 | USDe, WUSDe |
+| Katana | EVM | \$2 | AUSD |
+| Lighter | EVM | \$2 | USDC |
-Transfer Crypto is compatible with a range of supported tokens and chains:
+
+## Next Steps
+
+
-
- How to add cash to your balance on Polymarket.
To deposit funds into your Polymarket account:
Click Deposit.
Select your deposit method (for example, Transfer Crypto).
Choose the token and network (chain) you want to use.
Copy your deposit address.
Send the minimum required amount to that address.
After the transaction confirms, refresh the page — your funds will appear in your balance.
Always double-check the network and deposit address before sending funds. Transactions sent to the wrong chain or address cannot be reversed.
How to add cash to your balance on Polymarket.
To deposit funds into your Polymarket account:
Click Deposit.
Select your deposit method (for example, Transfer Crypto).
Choose the token and network (chain) you want to use.
Copy your deposit address.
Send the minimum required amount to that address.
After the transaction confirms, refresh the page — your funds will appear in your balance.
Always double-check the network and deposit address before sending funds. Transactions sent to the wrong chain or address cannot be reversed.
How to create a Polymarket account.
There are three ways to sign up for Polymarket.
Click Sign Up.
Select Continue with Google.
Connect your Google account.
Complete the signup process.
You can now log in using your Google account.
Click Sign Up.
Enter your email address and click Continue.
Enter the 6-digit code sent to your email.
You're signed up.
You can now log in using your email and 6-digit code.
Never share your 6-digit login code - not even with Polymarket staff. If someone gains access to your code, they can access your account and funds. Polymarket support cannot recover lost funds caused by shared codes.
Click Sign Up.
Connect your crypto wallet (such as MetaMask, Rabby, or Phantom).
Sign a message to Connect your wallet to Polymarket.
Sign another message to Enable Trading.
You're signed up.
You can now log in using your connected wallet.
Polymarket is the world’s largest prediction market, allowing you to stay informed and profit from your knowledge by betting on future events across various topics.
Studies show prediction markets are often more accurate than pundits because they combine news, polls, and expert opinions into a single value that represents the market’s view of an event’s odds. Our markets reflect accurate, unbiased, and real-time probabilities for the events that matter most to you. Markets seek truth.
On Polymarket, you can representing future event outcomes (i.e. “Will TikTok be banned in the U.S. this year?”)buy and sell shares
Shares in event outcomes are between 0.00 and 1.00 , and every pair of event outcomes (i.e. each pair of “YES” + “NO” shares) is fully collateralized by $1.00 USDC.always pricedUSDC
Shares are created when , such that the sum of what each side is willing to pay is equal to $1.00.opposing sides come to an agreement on odds
The shares representing the correct, final outcome are paid out $1.00 USDC each upon .market resolution
Unlike sportsbooks, you are not betting against “the house” – the counterparty to each trade is another Polymarket user. As such:
Shares can be sold before the event outcome is known_ (i.e. to lock in profits or cut losses)
There is no “house” to ban you for winning too much.
Prices = Probabilities.
Prices (odds) on Polymarket represent the current probability of an event occurring. For example, in a market predicting whether the Miami Heat will win the 2025 NBA Finals, if YES shares are trading at 18 cents, it indicates a 18% chance of Miami winning.
These odds are determined by what price other Polymarket users are currently willing to buy & sell those shares at. Just how stock exchanges don’t “set” the prices of stocks, Polymarket does not set prices / odds - they’re a function of supply & demand.
In the example above, if you believe Miami’s chances of winning are higher than 18%, you would buy “Yes” shares at 18 cents each. If Miami wins, each “Yes” share would be worth $1, resulting in an 82-cent profit per share. Conversely, any trader who owned “No” shares would see their investment become worthless once the game is over.
Since it’s a market, you’re not locked into your trade. You can sell your shares at any time at the current market price. As the news changes, the supply and demand for shares fluctuates, causing the share price to reflect the new odds for the event.
Research shows prediction markets are often more accurate than experts, polls, and pundits. Traders aggregate news, polls, and expert opinions, making informed trades. Their economic incentives ensure market prices adjust to reflect true odds as more knowledgeable participants join.
This makes prediction markets the best source of real-time event probabilities. People use Polymarket for the most accurate odds, gaining the ability to make informed decisions about the future.
If you’re an expert on a certain topic, Polymarket is your opportunity to profit from trading based on your knowledge, while improving the market’s accuracy.
Anyone can dispute a proposed market resolution if they feel it was proposed in error.
Once a market is proposed for resolution it goes into a challenge period of 2 hours.
If no one challenges the proposal the resolution is deemed valid and the proposer receives their bond back plus the reward.
During the 2-hour challenge period, anyone may dispute the proposal on the UMA dapp by posting a challenge bond of the same amount as the proposer bond (usually $750).
This begins the debate period of 24-48 hours (votes happen every other day and there will always be at least 24 hours for discussion). Anyone wishing to contribute evidence to the discussion can do so in the Uma Discord server in the #evidence-rationale and #voting-discussion channels.
After the debate period, Uma token holders vote (this process takes approximately 48 hours) and one of four outcomes happens:
Proposer receives their bond back plus half the disputer’s bond as a bounty. Disputer loses their bond.
Disputer receives their bond back plus half the proposer’s bond as a bounty. Proposer loses their bond.
This outcome is for proposals for which the underlying event has not yet happened. Eg the result of a sports match that is still ongoing. Disputer receives their bond back plus half the proposer’s bond as a bounty. Proposer loses their bond.
This (rarely used) outcome is for events where none of the other options are appropriate. In this case the market price resolves to 50 yes and 50 no. Disputer receives their bond back plus half the proposer’s bond as a bounty. Proposer loses their bond.
-
-
-***
-
-## Clarifications
-
-In rare cases, circumstances occur that were not foreseen at a market’s creation and it becomes necessary to clarify rules after trading has begun. In these cases Polymarket may issue an “Additional context” update to the rules.
-
-
-
+How are markets on Polymarket clarified?
Markets are resolved according to the rules set forth on the market page.
The rules specify the resolution source, the market end date, and they outline how the market should resolve in various edge-cases.
The market title describes the market, but the rules define how it should be resolved.
Markets are created by the markets team with input from users and the community.
While users cannot directly create their own markets, they are encouraged to suggest ideas for new markets.
To give your proposal the best chance of being listed, include as much information as possible, such as:
What is the market title?
What is the resolution source?
Evidence of demand for trading that market
The best ways to propose a new market are:
On Discord in the #market-suggestion channel
On Twitter / X by tagging @polymarket
Markets are resolved by the UMA Optimistic Oracle, a smart-contract based optimistic oracle.
When the result of a market becomes clear, the market can be “resolved,” or permanently finalized.
Markets are resolved according to the market’s pre-defined rules, which can be found under market’s the order book.
When a market is resolved, holders of winning shares receive $1 per share, losing shares become worthless, and trading of shares is no longer possible.
To resolve a market, an outcome must first be “proposed,” which involves putting up a bond in USDC.e which will be forfeited if the proposal is unsuccessful.
If the proposal is validated as accurate, the proposer will receive a reward for your proposal.
If you propose a market too early, or are unsuccessful in your proposal, you will lose all of your $750 bond. Do not propose a resolution unless you understand the process and are confident in your view.
Once in the verification process, UMA will review the transaction to ensure it was proposed correctly. If approved, you will receive your bond amount back in your wallet plus the reward. If not approved, it will enter Uma’s dispute resolution process, which is described in detail here.
Once a market is proposed for resolution it goes into a challenge period of 2 hours.
If you do not agree with a proposed resolution, you can dispute the outcome.
How to buy shares.
To keep long-term pricing accurate, we’re paying 4.00% annualized Holding Reward based on your total position value in certain polymarkets. We anticipate rolling out a new reward and oracle-resolution system later this year — at which point there will be a simple 1-click migration.
The current rate is set at 4.00% and applies to all eligible positions. This rate is variable and subject to change at Polymarket’s discretion. We also reserve the right to introduce limits to the total amount of rewards paid out at any time. This iteration of rewards is funded through the Polymarket Treasury.
Your total position value is randomly sampled once each hour, and the reward is distributed daily. Your rewards are calculated based on the total position value of your eligible positions at the time of evaluation.
For each eligible polymarket, we calculate the eligible position in the following way:
Position Valuation:
Based on your current “Yes” and “No” shares and the most recent mid-price for each outcome.
If you hold at time of sample:
30,000 “Yes” shares at a price of $0.53
10,000 “No” shares at a price of $0.45
Total Position Value:
(30000 × 0.53) + (10000 × 0.45)
$15,900 + $4,500 = $20,400
Hourly Holding Reward Calculation(based on 4.00% Annual Reward):
$20400 × (0.04 / 365 / 24) ≈ $.09315068493
-
-
-The prices probabilities displayed on Polymarket are the midpoint of the bid-ask spread in the orderbook.
When a market is created, there are initially zero shares and no pre-defined prices or odds.
Market makers (a fancy term for traders placing limit orders) interested in buying YES or NO shares can place Limit Orders at the price they’re willing to pay
When offers for the YES and NO side equal $1.00, the order is “matched” and that $1.00 is converted into 1 YES and 1 NO share, each going to their respective buyers.
For example, if you place a limit order at $0.60 for YES, that order is matched when someone places a NO order at $0.40.This becomes the initial market price.
The prices displayed on Polymarket are the midpoint of the bid-ask spread in the orderbook — unless that spread is over $0.10, in which case the last traded price is used.Like the stock market, prices on Polymarket are a function of realtime supply & demand.
In the market below, the probability of 37% is the midpoint between the 34¢ bid and 40¢ ask. If the bid-ask spread is wider than 10¢, the probability is shown as the last traded price.
What are limit orders and how to make them.
Limit orders are open orders (pending trades) that only execute when the market trades at your desired price.
For example, if the highest you’re willing to pay for a share of Trump “Yes” in the 2024 Republican Nomination is 72c, but the current market price is 73c, you could create a limit order at 72c and wait until someone is willing to sell Yes shares at your desired price.
It’s not necessary for the entire order to execute at once. Limit orders can ‘partially fill’ as individual traders fill parts of your order.
When you have an open order, you’ll find it displayed just below the Order Book on the market’s page.If you have open orders across multiple markets, you can easily manage and monitor them all from the Portfolio page.
Specifically for sports markets, any outstanding limit orders are automatically cancelled once the game begins, clearing the entire order book at the official start time. Be aware, game start times can shift so it’s important to always monitor your orders closely in case they are not cleared due to game changes or other circumstances.
Additionally, sports markets include a 3-second delay on the placement of marketable orders.
When you have an open order, you’ll find it displayed just below the Order Book on the market’s page.To cancel the order, you can simply click the red x button alongside the order.
If you have open orders across multiple markets, you can easily manage and monitor them all from the Portfolio page.
Nice! You can officially call yourself an advanced trader.
If some of this still isn’t making sense, feel free to reach out to us on Discord. We’re happy to help get you up to speed
-
-
-Simply put, the more you help the market by placing good orders, the more rewards you earn!
-
-## Seeing Rewards in the Order Book
-
-### Viewing Rewards
-
-The total rewards, max spread, and minimum shares required to earn rewards vary by market. You can view the rewards for a given market in its Order Book.
-
-* On the Polymarket order book, you can hover over the Rewards text to see the amount of rewards available in total on each market.
-
-* The blue highlighted lines correspond to the max spread — meaning the farthest distance your limit order can be from the midpoint of the market to earn rewards.
-
-* In the example below, because the max spread is 3c, every order within 3c of the midpoint is eligible for rewards. If the midpoint is \< \$0.10, you need to have orders on both sides to qualify.
-
-
- 
-
-
-### Earning Rewards
-
-When your orders are earning rewards you’ll see a blue highlight around the clock icon, as shown below:
-
-
- 
-
-
-## Learn more
-
-Rewards are paid out automatically every day at \~midnight UTC. Your history on your portfolio page will reflect rewards paid to your address.
-
-To read more about the specific calculations and formulas that determine rewards, visit our [Liquidity Rewards Documentation](/developers/market-makers/liquidity-rewards).
+Learn how to earn rewards merely by placing trades on Polymarket
With Polymarket’s Liquidity Rewards Program, you can earn money by placing limit orders that help keep the market active and balanced.
The closer your orders are to the market’s average price, the more you earn.
The reward amount depends on how helpful your orders are in terms of size and pricing compared to others.
The more competitive your limit orders, the more you can make.
You get paid daily based on how much your orders add to the market, and can use our reward page to check your current earnings for the day, which markets have rewards in place, as well as how much.
The minimum reward payout is $1; amounts below this will not be paid.
Simply put, the more you help the market by placing good orders, the more rewards you earn!
The total rewards, max spread, and minimum shares required to earn rewards vary by market. You can view the rewards for a given market in its Order Book.
On the Polymarket order book, you can hover over the Rewards text to see the amount of rewards available in total on each market.
The blue highlighted lines correspond to the max spread — meaning the farthest distance your limit order can be from the midpoint of the market to earn rewards.
In the example below, because the max spread is 3c, every order within 3c of the midpoint is eligible for rewards. If the midpoint is < $0.10, you need to have orders on both sides to qualify.
When your orders are earning rewards you’ll see a blue highlight around the clock icon, as shown below:
Rewards are paid out automatically every day at ~midnight UTC. Your history on your portfolio page will reflect rewards paid to your address.
+
+ By design, the Polymarket orderbook does not have trading size limits. It matches willing buyers and sellers of any amount.
However, there is no guarantee that it will be possible to transact a desired amount of shares without impacting the price significantly, or at all if there are no willing counterparties.
Before trading in any market, especially in large size, it is valuable to look at the orderbook to understand depth of liquidity, ie how many buyers or sellers are in the market and their desired trade size and price.
+
+
+
-In this market, **“Presidential Election Winner 2024”**, we are viewing the order book for Trump Yes shares.
+## Prices = Probabilities
-The green side represents the Bids: the highest price traders are willing to pay to buy Trump Yes
-shares.
+Every share on Polymarket is priced between `$0.00` and `$1.00`. The price directly represents the market's belief in the probability of that outcome.
-The red side represents the Asks: the lowest price traders are willing to accept to sell Trump Yes shares.
+| Price | Implied Probability |
+| ------ | ------------------- |
+| \$0.25 | 25% chance |
+| \$0.50 | 50% chance |
+| \$0.75 | 75% chance |
-
+
+
+
+
+This design gives you the speed of centralized matching with the security of onchain settlement. You always maintain custody of your funds.
+
+## Price Discovery
+
+When a new market launches, there's no initial price. The first price emerges when:
+
+1. Someone places a limit order to buy Yes at a price (e.g., `$0.60`)
+2. Someone places a limit order to buy No at the complementary price (e.g., `$0.40`)
+3. Since `$0.60` + `$0.40` = `$1.00`, the orders match
+
+When matched, `$1.00` is converted into 1 Yes token and 1 No token, each going to their respective buyers.
+
+## Next Steps
+
+
+
+
+
+
+## Token Identifiers
+
+Each outcome token has a unique **position ID** (also called token ID or asset ID), computed onchain in three steps.
+
+### Step 1 — Condition ID
+
+```
+getConditionId(oracle, questionId, outcomeSlotCount)
+```
+
+| Parameter | Type | Value |
+| ------------------ | --------- | ---------------------------------------------------------------- |
+| `oracle` | `address` | [UMA CTF Adapter](https://github.com/Polymarket/uma-ctf-adapter) |
+| `questionId` | `bytes32` | Hash of the UMA ancillary data |
+| `outcomeSlotCount` | `uint` | `2` for all binary markets |
+
+### Step 2 — Collection IDs
+
+```
+getCollectionId(parentCollectionId, conditionId, indexSet)
+```
+
+| Parameter | Type | Value |
+| -------------------- | --------- | --------------------------------------------------------------- |
+| `parentCollectionId` | `bytes32` | `bytes32(0)` — always zero for top-level positions |
+| `conditionId` | `bytes32` | The condition ID from step 1 |
+| `indexSet` | `uint` | `1` (`0b01`) for the first outcome, `2` (`0b10`) for the second |
+
+The `indexSet` is a bitmask denoting which outcome slots belong to a collection. It must be a nonempty proper subset of the condition's outcome slots. Binary markets always have exactly two collections — one per outcome.
+
+### Step 3 — Position IDs
+
+```
+getPositionId(collateralToken, collectionId)
+```
+
+| Parameter | Type | Value |
+| ----------------- | --------- | ----------------------------------------- |
+| `collateralToken` | `IERC20` | USDC.e contract address on Polygon |
+| `collectionId` | `bytes32` | One of the two collection IDs from step 2 |
+
+The two resulting position IDs are the ERC1155 token IDs for the Yes and No outcomes of the market.
+
+
+
+ + npm install @polymarket/clob-client +
+pip install py-clob-client
+