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Polymarket in the US: Can Americans Use Polymarket in 2026?
Updated March 2026 — The complete guide to Polymarket US access. We cover CFTC approval, KYC requirements, state-by-state restrictions, deposit methods, fees, and what American users need to know before trading.
Quick Answer: Can Americans Use Polymarket?
Yes — since late 2025.
Polymarket received CFTC approval in November 2025 and launched Polymarket US, a regulated version of the platform specifically for American users. To access it, you must complete full KYC verification with a government-issued ID, Social Security number, and proof of US residency. Once verified, you can legally trade on event contracts covering politics, economics, sports, and more. However, access is not available in all 50 states — approximately 11 states have restrictions due to state-level gambling or derivatives regulations.
For years, the biggest question in prediction markets was whether Americans could legally use Polymarket. The platform — the world's largest prediction market by volume — was effectively off-limits to US residents after a 2022 CFTC enforcement action. That changed dramatically in late 2025 when Polymarket secured federal regulatory approval and officially opened its doors to American traders.
This guide covers everything US-based users need to know: the regulatory timeline, how to sign up, which states allow access, what's different about the US version, deposit options, fees, and alternatives if Polymarket isn't available in your state.
Timeline of Polymarket in the US
Understanding how Polymarket ended up in its current position requires knowing the regulatory history. Here is the key timeline of events:
| Date | Event | Impact on US Users |
|---|---|---|
| 2020 | Polymarket launches | Initially accessible to US users via crypto wallets with no KYC |
| Jan 2022 | CFTC settlement ($1.4M fine) | Polymarket ordered to cease offering unregistered binary options to US users; blocks US IP addresses |
| 2022-2024 | Crypto-only era | US users technically blocked but some bypassed geo-restrictions using VPNs (against Terms of Service) |
| Nov 2024 | 2024 election surge | Polymarket becomes the most-cited prediction market for the US presidential election, processing billions in volume |
| Mid-2025 | Polymarket applies for CFTC designation | Files application to operate as a Designated Contract Market (DCM) or via Amended Order |
| Mid-2025 | Polymarket acquires QCX (Quest ClearingXchange) | Acquisition of a CFTC-registered entity accelerates regulatory pathway |
| Nov 2025 | CFTC grants Amended Order of Designation | Polymarket authorized to offer regulated event contracts to US residents |
| Late 2025 | Polymarket US launches | US-specific platform goes live with KYC requirements; Americans can legally trade |
| Early 2026 | State-level pushback begins | Several states send cease-and-desist letters; some restrict access based on state gambling laws |
How to Access Polymarket in the US
Signing up for Polymarket as a US resident is more involved than the international version due to federal KYC (Know Your Customer) requirements. Here is the step-by-step process:
Step 1: Visit Polymarket and Select "US Sign-Up"
Go to polymarket.com and click the sign-up button. The platform will detect your US-based IP address and route you to the Polymarket US registration flow. If you are using a VPN, disable it — you need to register from a US IP to access the regulated version.
Step 2: Create Your Account
Provide a valid email address and create a password. You can also sign up using Google or Apple authentication for convenience.
Step 3: Complete KYC Verification
This is the most important step and what differentiates US access from the international platform. You will need to provide:
- Government-issued photo ID — A valid US driver's license, state ID, or US passport. The document must not be expired.
- Social Security number (SSN) — Required for identity verification and tax reporting compliance. Polymarket uses encrypted storage for SSN data.
- Proof of US residency — A recent utility bill, bank statement, or government letter showing your name and a US address. The document must be dated within the last 90 days.
- Selfie verification — A live photo to match against your government ID. This is standard anti-fraud procedure.
Step 4: Wait for Approval
KYC verification typically takes 1-3 business days. Most users are approved within 24 hours. If your documents are unclear or there is a mismatch, Polymarket may request additional documentation.
Step 5: Fund Your Account and Start Trading
Once approved, you can deposit funds and begin trading on regulated event contracts. See the deposit methods section below for your options as a US user.
Why KYC Matters
KYC is not optional for US users. It is a federal regulatory requirement under the CFTC's oversight framework. Without completing KYC, you cannot access Polymarket US. The international version of Polymarket (which allows crypto-only access without KYC) is not available from US IP addresses and using a VPN to access it violates Polymarket's Terms of Service.
State-by-State Status
While Polymarket has federal CFTC approval, prediction market legality also depends on state-level regulations. Some states classify event contracts as gambling or have specific derivatives restrictions that conflict with Polymarket's offering. As of March 2026, approximately 11 states have restrictions or have sent cease-and-desist orders to Polymarket.
| Status | States | Notes |
|---|---|---|
| Fully Accessible | ~39 states including California, Texas, Florida, New York, Pennsylvania, Illinois, Ohio, Georgia, North Carolina, Michigan, and most others | Full access to Polymarket US with KYC. No state-level restrictions. |
| Restricted / Cease-and-Desist | Approximately 11 states including Montana, Alabama, Tennessee, Idaho, Vermont, Hawaii, Washington, Louisiana, Iowa, Kansas, Nebraska | State regulators have sent cease-and-desist orders or classified event contracts as illegal gambling. Polymarket blocks sign-ups from these states. |
| Under Review | Several states are actively reviewing their positions | Regulatory landscape is evolving. Some restricted states may open access; others currently open may add restrictions. |
Why Do Some States Restrict Polymarket?
The state-level restrictions stem from three main issues:
- Gambling classification: Some states classify binary event contracts as gambling rather than financial derivatives. States with strict anti-gambling laws may prohibit them outright.
- Derivatives licensing: Certain states require additional licensing for platforms that offer derivatives products to state residents, even if those products have federal CFTC approval.
- Consumer protection concerns: Some state attorneys general have raised concerns about the speculative nature of prediction markets and their potential for consumer harm, especially around political betting.
The regulatory landscape is actively evolving. Industry groups and platforms like Polymarket are lobbying for clearer federal preemption that would override inconsistent state-level rules. Until that happens, US users need to verify their state's status before signing up.
US vs International Polymarket
Polymarket US and the international version of Polymarket are not identical. The regulated US platform has several important differences:
| Feature | Polymarket US | Polymarket International |
|---|---|---|
| KYC Required | Yes (ID, SSN, proof of residency) | No (crypto wallet only) |
| Regulation | CFTC-regulated | Unregulated (offshore) |
| Market Availability | Regulated event contracts only (some markets excluded) | All markets including unregulated categories |
| Deposit Methods | Bank transfer, debit card, credit card, USDC | USDC only (crypto wallet) |
| Position Limits | Yes — CFTC-imposed limits on certain contracts | No position limits |
| Tax Reporting | Polymarket may issue 1099 forms in future; self-reporting currently | No tax reporting whatsoever |
| Consumer Protections | CFTC oversight, dispute resolution framework | Limited — Terms of Service only |
| Trading Fees | Same (~0% maker, 0.01% taker) | Same (~0% maker, 0.01% taker) |
The most notable difference for traders is market availability. The US version may not list certain markets that the CFTC has not approved or that fall into regulatory gray areas. For example, some novelty or entertainment markets available internationally may be absent from the US platform. Political markets, economic indicators, and major event contracts are generally available.
Deposit Methods for US Users
One of the biggest improvements with Polymarket US is the expanded deposit options. International users are limited to USDC cryptocurrency, but American users have multiple ways to fund their accounts:
| Method | Processing Time | Fees | Limits |
|---|---|---|---|
| Bank Transfer (ACH) | 1-3 business days | Free | Up to $50,000/day (varies) |
| Debit Card | Instant | ~2-3% processing fee | Up to $5,000/transaction |
| Credit Card | Instant | ~3-4% processing fee | Up to $5,000/transaction; some issuers may block |
| USDC (Crypto) | ~2 minutes (Polygon network) | Free (minimal gas) | No platform limit |
| Wire Transfer | Same day to 1 business day | Bank fees apply ($15-30 typical) | Higher limits for institutional traders |
Credit Card Considerations
Some US credit card issuers classify Polymarket deposits as "cash advances" rather than purchases, which triggers higher interest rates and additional fees from your card issuer. Before using a credit card, check your issuer's policy on prediction market or trading platform transactions. Debit cards generally do not have this issue.
Polymarket US Fees
Polymarket's fee structure for US users is essentially the same as the international platform, making it the lowest-cost prediction market available to Americans. Here is the complete breakdown:
| Fee Type | Amount | Details |
|---|---|---|
| Maker Fee (Limit Orders) | 0% | No fee when you provide liquidity by placing limit orders |
| Taker Fee (Market Orders) | 0.01% | Negligible fee when you take liquidity with market orders |
| Deposit Fee | Free (ACH/USDC) | ACH and USDC deposits are free; card deposits carry processing fees (2-4%) |
| Withdrawal Fee | Free | No platform fee; minimal Polygon gas cost (<$0.01) |
| Effective All-In Cost | ~2-4% | The main cost is the bid-ask spread (2-5 cents), not explicit fees |
For comparison, Kalshi charges 1-7% taker fees depending on the contract and time to expiration. This means Polymarket US users save significantly on every trade, especially for active traders. See our detailed Polymarket fees guide for more analysis and examples.
Hidden Costs to Watch
While Polymarket's trading fees are near-zero, US users should be aware of indirect costs:
- Bid-ask spread: The real cost of trading. Major markets have 2-3 cent spreads; less liquid markets can have 5-10 cent spreads.
- Card deposit fees: Using a debit or credit card adds 2-4% in processing fees. Use ACH or USDC to avoid this.
- Tax liability: All profits are taxable as short-term capital gains (taxed as ordinary income). This can be 10-37% depending on your bracket. See our prediction market taxes guide.
- Opportunity cost: Funds locked in long-dated contracts cannot be used elsewhere until the market resolves.
Alternatives for US Users
If Polymarket is not available in your state, or if you prefer a different platform, there are several alternatives for US-based prediction market traders:
| Platform | Regulation | US Availability | Key Advantage | Key Drawback |
|---|---|---|---|---|
| Kalshi | CFTC (since 2023) | All 50 states | USD deposits, tax forms, simplicity | Higher fees (1-7%), less liquidity |
| Robinhood Event Contracts | CFTC | Most states | Integrated with existing brokerage; simple UX | Very limited market selection; new product |
| PredictIt | CFTC no-action letter (limited) | All 50 states (limited scope) | Long track record; political markets | $850 position limit; winding down some markets; 10% profit fee |
| Crypto Prediction Markets | Unregulated | Technically accessible but legally gray | No KYC; fully decentralized | Legal risk; low liquidity; complex UX |
Legal Risks and Considerations
While Polymarket now has federal CFTC approval, the legal landscape for prediction markets in the US remains complex and evolving. Here are the key legal considerations US users should understand:
Federal Regulatory Status
Polymarket operates under a CFTC Amended Order of Designation, which authorizes it to offer regulated event contracts to US persons. This is the same regulatory framework under which Kalshi operates. The CFTC classifies event contracts as a type of derivative, not gambling — a critical legal distinction that provides the foundation for Polymarket's US operations.
State-Level Uncertainty
The biggest legal risk for US users is at the state level. Despite federal approval, some states maintain that event contracts violate state gambling laws. This creates a patchwork regulatory environment where legality depends on your state of residence. If you live in a restricted state, creating an account using false address information or a VPN would violate both Polymarket's Terms of Service and potentially state law.
Tax Obligations
All profits from prediction market trading are taxable in the United States, regardless of whether you receive a 1099 form. The IRS treats prediction market gains as short-term capital gains if held for less than one year, taxed at your ordinary income rate (10-37%). Failure to report prediction market income could result in penalties and interest. See our prediction market taxes guide for detailed guidance.
Market Manipulation Laws
Because Polymarket US operates under CFTC regulation, federal market manipulation laws apply. Activities like wash trading (trading with yourself to inflate volume), spoofing (placing orders you intend to cancel), or trading on material non-public information may violate the Commodity Exchange Act. The CFTC has enforcement authority and has previously taken action against manipulative conduct on event contract platforms.
The Evolving Regulatory Landscape
The regulation of prediction markets in the US is still being defined. Several factors could change the landscape in the coming months and years:
- Federal preemption legislation: Bills have been introduced in Congress that would establish clear federal authority over event contracts, potentially overriding state-level restrictions.
- CFTC rulemaking: The CFTC continues to develop rules specifically for event contracts, which could expand or restrict the types of markets available to US users.
- Court challenges: Legal challenges from state regulators or industry participants could reshape the regulatory framework.
- Political betting debates: The gambling vs. financial instrument classification debate continues, particularly around political event contracts.
Practical Legal Advice
For the average US user, Polymarket is legal and safe to use if you are in an approved state. The key legal obligations are:
- Use your real identity and address during KYC verification
- Report all profits and losses on your federal and state tax returns
- Do not attempt to access the platform from restricted states
- Trade based on your own analysis — do not manipulate markets
If you have specific legal concerns about your situation, consult a financial attorney familiar with derivatives regulation in your state.
Frequently Asked Questions
Can Americans use Polymarket?
Yes. Since late 2025, Americans can legally use Polymarket after the platform received CFTC approval and launched Polymarket US. US users must complete full KYC verification with a government-issued photo ID, Social Security number, and proof of US residency. The verification process typically takes 1-3 business days. Once approved, you can trade on regulated event contracts covering politics, economics, sports, and other categories. Note that access is restricted in approximately 11 states due to state-level regulations.
Is Polymarket legal in all US states?
No. While Polymarket has federal CFTC approval, approximately 11 states have issued restrictions or cease-and-desist orders. These states typically classify event contracts as gambling under state law or require additional licensing that Polymarket has not yet obtained. If you live in a restricted state, Kalshi is a CFTC-regulated alternative available in all 50 states. The list of restricted states changes as state regulators continue to assess event contract platforms.
What documents do I need to sign up for Polymarket in the US?
US users must provide four items during KYC verification: (1) a government-issued photo ID such as a US driver's license, state ID, or passport; (2) your Social Security number; (3) proof of US residency dated within the last 90 days, such as a utility bill or bank statement; and (4) a live selfie for identity matching. All documents must be clear, legible, and match the information you provide during registration. Most approvals are processed within 24 hours.
How do I deposit money into Polymarket from the US?
US users have multiple deposit options: bank transfer (ACH) is free but takes 1-3 business days; debit cards offer instant deposits with a 2-3% processing fee; credit cards are instant but carry 3-4% fees and some issuers may block the transaction; USDC cryptocurrency transfers are near-instant and free. For the best value, use ACH for large deposits or USDC for instant access. See our deposit guide for step-by-step instructions.
Do I have to pay taxes on Polymarket profits in the US?
Yes — all prediction market profits are taxable income in the United States. The IRS treats these gains as short-term capital gains if positions are held for less than one year, taxed at your ordinary income rate (10-37% depending on your bracket). Polymarket does not currently issue 1099 forms, so you must self-report your gains and losses. Keep detailed records of all trades. We recommend consulting a tax professional and reviewing our prediction market taxes guide for detailed reporting guidance.
Is Polymarket better than Kalshi for US users?
It depends on your priorities. Polymarket has lower fees (~0% vs 1-7%), more markets (600+ vs 200+), and deeper liquidity, making it better for active traders who want the best prices. Kalshi is simpler (USD deposits, no crypto required), provides tax forms (1099), and is available in all 50 states — making it better for beginners and users in states where Polymarket is restricted. Many serious traders use both platforms and compare odds on PredScope. See our Polymarket vs Kalshi comparison for a full breakdown.
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