How to Use Polymarket - Guide and Examples

Polymarket has become a great platform to make money from predicting what will happen in the world for every trend. On Polymarket, we’re not only predicting the economic market, but also politics, entertainment, and even war.

Polymarket sounds like a betting platform, but it uses blockchain and cryptocurrency technology. It is a legal platform in the U.S that can be used in many countries.

Perhaps you are curious about Polymarket, especially how to use it. Therefore, in this article, you will learn about a guide to using Polymarket, complete with examples.

What is Polymarket?

Polymarket is a blockchain-based platform that enables users to speculate on the results of upcoming real-world events. 

It functions like a digital marketplace where participants can invest in potential answers to questions about politics, cryptocurrency, sports, or the economy by purchasing shares tied to those outcomes.

The platform is built primarily on the Polygon blockchain, a layer-2 scaling solution for Ethereum. 

This allows Polymarket to offer low transaction fees and fast processing times, while still benefiting from Ethereum’s security infrastructure. Users interact with smart contracts to place trades, ensuring transparency and decentralization.

Put simply, Polymarket allows people to back their beliefs with money. For instance, if you think Bitcoin will surpass $100,000 by December 2025, you can buy shares supporting that prediction. If it turns out to be true, you make a profit; if not, you lose your investment.

How to Use Polymarket

Here’s a comprehensive, step-by-step guide to using Polymarket, complete with clear explanations for each phase of the process. 

Whether you’re new to prediction markets or already familiar with crypto platforms, this guide will walk you through everything, from setting up your wallet to trading on real-world events, so you can participate with confidence and clarity.

Step 1: Set Up a Crypto Wallet

To use Polymarket, you need a crypto wallet because the platform is non-custodial; you control your own funds. Polymarket supports multiple wallet types, not just MetaMask.

Wallet options include:

• MetaMask (browser extension & mobile app)
• Phantom
• Rainbow Wallet
• WalletConnect (lets you connect wallets like Trust Wallet, Coinbase Wallet, etc.)

Read Also: Download MetaMask Wallet: Chrome, Firefox, and Mobile

How to do it:

• Choose your preferred wallet
• Set up your account and securely back up your recovery phrase
• Make sure it supports the Polygon network

Step 2: Add Funds (USDC) to Your Wallet

Polymarket uses USDC (a dollar-pegged stablecoin) on the Polygon network. You'll need it to participate in markets.

How to do it:

• Buy USDC from a crypto exchange (like Bitrue)
• Transfer it to your wallet
• Use a bridge like Polygon Bridge if you need to move it to the Polygon network

Step 3: Visit the Polymarket Website

You’ll interact with Polymarket through their web interface.

How to do it:

• Go to https://polymarket.com
• Click “Connect Wallet” and select your wallet type

Read Also: Polymarket Election Bet Leads to Legal Action in Taiwan

Step 4: Browse and Select a Market

Markets are yes/no questions about real-world events. Example: Will ETH hit $5,000 by December 2025?

How to do it:

• Browse through available questions
• Click a market to view its current odds, trading volume, and other details

Step 5: Buy Shares

You speculate by buying “Yes” or “No” shares, depending on your belief. The price of each share reflects its current perceived likelihood (e.g., $0.72 = 72% chance).

How to do it:

• Select your outcome
• Input the USDC amount you want to stake
• Confirm the trade using your connected wallet

Step 6: Monitor or Sell Your Shares

You can track your predictions in your portfolio. You may choose to sell early if the odds move in your favor, or hold until resolution.

How to do it:

• Go to the “Portfolio” section
• View current prices and potential profit
• Decide whether to sell or keep holding

Step 7: Get Paid When Market Resolves

Once the event occurs, Polymarket uses a trusted oracle to resolve the outcome. Winning shares automatically become worth $1 USDC each.

How to do it:

• Visit the resolved market
• Claim your winnings through the Polymarket interface
• Funds are sent back to your wallet

Examples to Put the Prediction on Polymarket

You already know how to use Polymarket from the explanation above. Now, what you need to know is some examples related to how to use Polymarket exactly.

In this section, you will learn an example of how to put the prediction on Polymarket. In this case, we will use Bitcoin as the object.

“Will Bitcoin be above $100,000 on December 31, 2025?”

Step 1: Set Up a Crypto Wallet

You download MetaMask or use WalletConnect to access a wallet like Trust Wallet. You make sure your wallet supports the Polygon network, since that’s what Polymarket uses.

Step 2: Add Funds (USDC) to Your Wallet

You buy USDC from Binance. Then you use the Polygon Bridge to transfer USDC to the Polygon network and send it to your wallet.

Step 3: Visit the Polymarket Website

You go to https://polymarket.com, click "Connect Wallet," and approve the connection in MetaMask.

Step 4: Browse and Select a Market

You scroll through current markets and find this question:

"Will Bitcoin (BTC) be above $100,000 on December 31, 2025?"

You click on it to see more details, including:

• Current market odds (e.g., 42 cents for “Yes” and 58 cents for “No”)
• Volume and liquidity
• Event resolution date

Step 5: Buy Shares

You believe Bitcoin will break $100k, so you choose “Yes.”

You decide to stake $50 USDC. At 42 cents per share, you get around 119 shares.

You confirm the trade in MetaMask. Your wallet is charged, and the shares are now in your portfolio.

Read Also: Proof-of-Donation Sparks Debate and Dispute on Polymarket

Step 6: Monitor or Sell Your Shares

Weeks go by. News hits that major banks are adopting BTC, causing market odds to shift.

Now, “Yes” shares are priced at 70 cents. You could:

• Hold for a bigger payout if BTC really passes $100k
• Sell now to lock in profit (you’d sell 119 shares at 70 cents = $83.30, a $33.30 gain)

Step 7: Get Paid When Market Resolves

If you held until December 31, 2025, and Bitcoin ends above $100,000, each “Yes” share becomes worth $1 USDC.

You claim your $119 USDC from Polymarket. If BTC didn’t reach $100k, your shares would become worthless

Risks to Understand Regarding Polymarket

Polymarket is a fun and innovative way to bet on real-world events, but it also comes with some risks you should know before using it.

One of the biggest risks is regulation. Since prediction markets are often seen as gambling or financial betting, government rules can affect how Polymarket works. In some places, like the U.S., users might be blocked or markets might be shut down due to legal issues.

There’s also financial risk. If your prediction is wrong, you lose the money you spent on that market. Even if you’re right, prices change all the time, and you might not make as much as you hoped, or even lose money if you sell at the wrong time. 

Some markets also have low activity, which means it can be hard to sell your shares before the result is known.

Since Polymarket is non-custodial, you need a crypto wallet to use it. You are fully in charge of your funds, so if you lose your wallet or forget your password, your money is gone. 

And while Polymarket uses smart contracts (automated programs on the blockchain), no system is perfect, there’s always a small risk of bugs or technical problems.

Market outcomes are resolved by oracles (trusted sources), but even these can sometimes be slow or disputed, which might delay payouts. 

Also, while the platform uses USDC (a stablecoin), moving it between blockchains or using the network during busy times might lead to extra fees or delays.

In short, Polymarket is great for confident users who understand how crypto works and are okay with taking risks. It’s important to only invest what you can afford to lose and to always be careful with your wallet and funds.

Final Note

Polymarket is a decentralized platform that lets you trade on the outcomes of real-world events, turning your opinions into financial predictions. Whether you believe Bitcoin will reach $100,000 or want to bet on political elections, Polymarket offers a transparent and blockchain-powered way to do it.

To get started, you’ll need a crypto wallet (like MetaMask, Trust Wallet, or any WalletConnect-compatible app) and USDC on the Polygon network. 

Once connected to the Polymarket website, you can browse markets, choose a prediction (like "Will Bitcoin be above $100K by December 31, 2025?"), and buy shares based on your belief.

Read Also: Bitcoin (BTC) Price Prediction in the Next 100 Years

Each step, from funding your wallet and placing your first trade to watching your position and claiming your payout, is straightforward but requires some crypto knowledge. 

Along the way, you’ll learn how market sentiment shapes prices, how to sell shares early, and what happens when markets resolve.

But remember: Polymarket also involves risks, including the chance of losing your funds, legal uncertainty in some countries, and reliance on external oracles for market resolution. It’s important to start small, use a secure wallet, and stay informed about regulations and platform updates.

In short, Polymarket is a powerful tool for those who want to turn predictions into opportunities, as long as you understand the process and the risks involved.

FAQ

1. What do I need to start using Polymarket?

To use Polymarket, you need a crypto wallet (such as MetaMask, Trust Wallet, or a WalletConnect-compatible wallet), and USDC on the Polygon network. You’ll also need some basic knowledge of how to interact with web3 platforms and approve transactions through your wallet.

2. How do I make money on Polymarket?

You make money by correctly predicting the outcome of real-world events. If you buy “Yes” or “No” shares in a market and that outcome is correct, each share becomes worth $1 USDC after the event resolves. You can also sell shares early if market sentiment moves in your favor.

3. What happens if I’m wrong in a prediction?

If the outcome you bet on turns out to be incorrect, your shares become worthless, and you lose the amount you spent. That’s why it’s important to manage your risk and only invest what you can afford to lose.

4. Is Polymarket legal to use everywhere?

Not necessarily. While Polymarket operates globally, it has faced legal restrictions, especially in the United States. Some users may be geo-blocked, and access to certain markets may be limited based on your location and local regulations.

5. Can I use wallets other than MetaMask?

Yes. While MetaMask is the most commonly used wallet, Polymarket also supports WalletConnect, which allows you to connect a variety of wallets, including Trust Wallet, Coinbase Wallet, and others. You just need to ensure your wallet is Polygon-compatible and holds USDC for trading.